Bluesure fails to secure capacity for new business
Lack of capacity has forced Lloyd's-backed insurer Bluesure to cease accepting new business. Bl...
Lack of capacity has forced Lloyd's-backed insurer Bluesure to ceaseaccepting new business.
Bluesure's main reinsurer, GE Frankona Re, refused to provide the insurer
backing for 2003. Bluesure failed to find alternative reinsurers, meaning
it had little choice but to close to new business. GE Frankona Re will
honour its existing agreements, meaning all on-risk policies will continue
to be valid and all valid claims paid in full.
Bluesure insiders are reportedly furious that the reinsurer pulled
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