Anyone insured by them, via a Broker
Seem to be the company originating from Malta and operating in GB
Seem to be the company originating from Malta and operating in GB
First Underwriting Ltd?
- Thread starter JohnnyBoxer
- Start date
Many of the motor underwriting companies are registered overseas, where the solvency requirements are (possibly) lower and / or there is a more benign regulatory burden. It doesn’t make them bad per-se.
If they / their broker are more competitive than your existing insurer, buy it…. Or don’t. It really is up to you, JB.
If they / their broker are more competitive than your existing insurer, buy it…. Or don’t. It really is up to you, JB.
Where did you get the Malta connection from? (Found the answer)
Their website https://www.firstuw.com/ says
"First Underwriting were established in 2018 as a highly specialised and niche underwriting business. Our UK parent company is NSM UK, who are a UK division of NSM Insurance Group. NSM Insurance Group are the leading specialist insurance provider in the USA, with over 1m clients and over $1bn in premiums.
We have a long-term agreement and partnership with our underwriting partners Accredited Insurance Europe Limited (AIEL).
AIEL are wholly owned by Randall & Quilter Investment Holdings Ltd. (RQIH); a company domiciled in Bermuda who are listed on the AIM Stock Exchange in London."
Re. the Malta connection I found the policy wording https://www.firstuw.com/wp-content/uploads/2024/04/First-Enthusiast-Policy-Wording-220424-.pdf - it's not underwritten by First Underwriting which is a bit of a misleading name, as they are an intermediary of the Maltese division of AIEL. Malta is in the EU so better than those companies hiding in Gib! I have never hear of FUL or AIEL but take a punt and let us know how it goes!
Their website https://www.firstuw.com/ says
"First Underwriting were established in 2018 as a highly specialised and niche underwriting business. Our UK parent company is NSM UK, who are a UK division of NSM Insurance Group. NSM Insurance Group are the leading specialist insurance provider in the USA, with over 1m clients and over $1bn in premiums.
We have a long-term agreement and partnership with our underwriting partners Accredited Insurance Europe Limited (AIEL).
AIEL are wholly owned by Randall & Quilter Investment Holdings Ltd. (RQIH); a company domiciled in Bermuda who are listed on the AIM Stock Exchange in London."
Re. the Malta connection I found the policy wording https://www.firstuw.com/wp-content/uploads/2024/04/First-Enthusiast-Policy-Wording-220424-.pdf - it's not underwritten by First Underwriting which is a bit of a misleading name, as they are an intermediary of the Maltese division of AIEL. Malta is in the EU so better than those companies hiding in Gib! I have never hear of FUL or AIEL but take a punt and let us know how it goes!
Thank you for an in-depth answer
Hopefully they are an okay company and do well. With the withdrawal of Axa from the UK market and the demise of MCE we need some new underwriters so we don't end up like Ireland with few options on the panel.
Oh well just to update the thread
I went with Lynbrook (FULtd) yesterday as they were over £200 cheaper than RH insurance at renewal
Main difference I can see is that the XS is £250 per bike, rather than a sliding scale of £50-£250 depending on bike with RH
So we’ll see how we go
Lynbrook have (had) a good reputation in biking circles and although taken over since their early days, it’s still the same team of 3 who you deal with and they are very knowledgeable
I emailed my NCB letter over and got a confirmation of receipt within 6 mins and email saying all was in order and added to my file
So, time will tell
I went with Lynbrook (FULtd) yesterday as they were over £200 cheaper than RH insurance at renewal
Main difference I can see is that the XS is £250 per bike, rather than a sliding scale of £50-£250 depending on bike with RH
So we’ll see how we go
Lynbrook have (had) a good reputation in biking circles and although taken over since their early days, it’s still the same team of 3 who you deal with and they are very knowledgeable
I emailed my NCB letter over and got a confirmation of receipt within 6 mins and email saying all was in order and added to my file
So, time will tell
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