RSA to exit UK motor insurance market
4th April 2023Tweet
RSA has announced it will exit the UK personal lines motor market.
The decision is one of a range of initiatives intended to make its UK and international business more sustainable.
RSA, a subsidiary of Intact Financial Corporation, currently represents about £120m of annual motor premium. It has further announced it will introduce MORE THAN direct motor customers to Swinton Insurance upon renewal.
The announced initiatives do not directly impact its personal home and pet insurance lines. Instead, RSA intends to improve segmentation in these areas and drive further growth through partnerships and ongoing investments in technology.
Charles Brindamour, Chief Executive Officer, Intact Financial Corporation, said, “When we completed the acquisition of RSA, we were clear that we would take necessary actions to drive sustainable outperformance in UK&I. Today’s announcement represents a further step in delivering against our strategic roadmap to optimise our footprint around personal lines Home and Pet, and our Commercial and Speciality lines businesses.”
Ken Norgrove, Chief Executive Officer, RSA UK & International, added, “Our primary focus now is on delivering an orderly transition that supports our colleagues and customers. We have incredibly talented people working in this business, and we’re committed to treating them with fairness and respect.”Tweet