RSA exits personal lines motor shifting renewals to Swinton
RSA has confirmed pulling out of the UK personal lines motor market, worth £120m in gross written premium, and signing up with Atlanta-owned Swinton on a renewals deal.
Market speculation that RSA would exit the line was first revealed by Insurance Age last week.
RSA will continue to offer new business and renewals until 31 August with Swinton, part of the Ardonagh Group, taking up renewals as of 1 September.
The insurer did not release a figure for the potential payment from Swinton, but stated proceeds would be received as policies were renewed and were “not expected to be material”.
The MoreThan brand is being kept for home and pet business.
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