Intact Financial Corporation (TSE:IFC) and its subsidiary RSA, announced March 28 it will exit the personal motor (auto) insurance market in the UK to improve the strength and sustainability of the UK & International business.
The personal lines motor insurance market in the UK remains extremely competitive and requires significant scale to drive meaningful outperformance. After a thorough review, RSA is exiting the UK personal lines motor market, representing approximately £120 million ($148.56 million) of annual premium for the company. The exit includes an agreement to introduce MORE THAN direct motor customers to Swinton Insurance, a brand of Atlanta Insurance
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