RSA: RSA Insurance Group Plc: RSA completes negotiations with Motability on
contract structure going forward
UK Regulatory Announcement
RSA completes negotiations with Motability on contract structure going forward
Leading global insurer, RSA, today announced that it has renewed its contract
to provide motor insurance to Motability Operations. The new contract extends
a long term relationship and provides a strong, sustainable partnership for
RSA and Motability Operations.
This will take effect from 1st October 2013 for an initial 5 years. The deal
will be on a quota share arrangement with RSA retaining 20% of the premium
exposure, ceding the balance to a Motability Operations owned captive.
Insurance cover will continue to be provided for multi-year policies, however
under the new contract all policies will be re-priced every 6 months. Policies
written under the current contract will remain in force for the duration of
their three year contract.
Jon Hancock, Commercial Managing Director at RSA, said … “We are proud to work
in a partnership with Motability Operations and share their goal of providing
trouble free motoring to all customers. Motability Operations is our largest
commercial motor insurance partner and the largest fleet operator in the UK
and we look forward to continuing to deliver a first class service together”.
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Matt Hotson Louise Shield
Tel: +44 (0) 20 7111 7212 Tel: +44 (0) 20 7111 7047
Rupert Taylor Rea Bart Nash
Tel: +44 (0) 20 7111 7140 Tel: +44 (0) 20 7111 7336
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to its future financial condition, performance results, strategic initiatives
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as of the date on which such statements are made. The Group undertakes no
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requirement under applicable law or regulation. Nothing in this press release
shall be construed as a profit forecast.
RSA Insurance Group Plc
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