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Insurance Business | 14 Jul 2014, 09:03 AM Agree 0
A global brokerage has rebranded its recently-acquired premium funding operation and has appointed a new CEO who is championing the independence of the premium funding arm.
  • Luke | 14 Jul 2014, 10:06 AM Agree 0
    Independence? Really. One profits from the funding business will go to prop up their broker business, the very one we compete against. Two, is our client data really safe?
  • Peter | 14 Jul 2014, 01:13 PM Agree 0
    Luke, so by Wesfarmers splitting off their underwriting business from their broking and premium funding, suddenly client data has become unsafe? Over reaction much? If that were the case the new company would be shooting themselves in the foot before they even launched.
  • Colin | 14 Jul 2014, 01:47 PM Agree 0
    As in the past the Broking arm will get better terms than the general Broking market. So why bother to use them.
  • Luke | 14 Jul 2014, 02:24 PM Agree 0
    Not an over reaction Peter, it has happened before, will happen again. Keep supporting them. Every dollar your clients fund through them will mean profits that go into their back pocket, they will use this to compete against you. Makes a lot of sense. No different to Steadfast owning Macquarie PF.
  • Glenn | 14 Jul 2014, 02:36 PM Agree 0
    Colin, so just like Lumley used to give us better Underwriting rates than the General Broking market..... I wish. I also haven't found their rates any better than the other funders out their so I was surprised to read your comment. You don't work for a rival funder do you?
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