Gibraltar-based Service Company Insurance closes to new business
Motor insurer closes £100m book to new business due to difficult market but pledges to help brokers and policyholders.
Motor insurer Service Company Insurance has announced that it will no longer write new business.
Chairman Ipe Jacob told Insurance Age: "We have put the service into run-off. The reason for choosing to accept no new business is that it had had a difficult time in the recent past.
"The market is pretty difficult and we have Solvency II looming."
Service, which deals with around £100m GWP each year and mostly offers its commercial and personal lines products through UK brokers, pledged to support
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