Equity Red Star is pleased to announce that, following Ecclesiastical's decision to exit the motor insurance market, Equity Red Star has agreed terms to transfer broker-sourced motor business underwritten by Ansvar Insurance (the ethical insurance business owned by Ecclesiastical Insurance Office PLC) into Equity Red Star.
Most specifically Equity Red Star has acquired the renewal rights of Ansvar's intermediated Private Car, Van and Minibus motor portfolios and the firm will offer renewals on these motor risks from January 2013.
Mark Bacon, Underwriting Director (and Active Underwriter) for Equity Red Star commented: "Equity Red Star is delighted to be able to take on this specialist book of business, following Ecclesiastical's decision to remove itself from this section of the insurance market. We believe that our focus on specialist motor risks makes us well-placed to handle this transferred business and, on our side, its acquisition strengthens our market share within the specialised motor market – an area where we see room for strong growth."
