Mulsanne Insurance coverage’s gross premiums fell by £75.3m in the course of the 12 months ended 31 December 2023 to £112.9m, in response to its newest Solvency and Monetary Situation Report.
Gibraltar-based Mulsanne blamed a discount in written premiums on three key elements.
“In prior years, the corporate has underwritten motor dangers on a fronted foundation on behalf of an ‘A’-rated EEA reinsurer with a UK middleman; this association was not renewed at expiry on 31 March 2023.”
The specialist motor insurer additionally made “strategic modifications to the goal footprint of its merchandise distributed by group companions that resulted in diminished ranges of enterprise”.
RelatedMulsanne blames poor performing
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