Close Brothers to end non-recourse products for Gefion Insurance
Premium finance provider will still issue recourse policies for the insurer.
Close Brothers Premium Finance will only write recourse policies for Gefion Insurance-backed products from 1 November 2018, Insurance Age can reveal.
In a letter to brokers seen by Insurance Age, Close Brothers wrote: “Whilst we do not want to limit the choice of insurers for both our brokers and customers, Gefion is a relatively new insurer and we have a fast-growing exposure to them, which we want to limit.”
Close Brothers also confirmed the change would affect any insurance through Gefion
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