American parent confirms sale possibility

Provident Insurance parent company GMAC has confirmed it is reviewing its ownership of the firm, as revealed in this week’s issue of Insurance Times (see Provident loses Smith to Ink).

GMAC sold its insurance property and casualty business last month to pay off debts to the US Government. The financial services giant has received $12.5bn in state aid.

A GMAC spokesman told Insurance Times: “GMAC Insurance, including Provident Insurance, continues to participate in an examination of its business operations to better position GMAC and GMACI for continued success in key markets we serve. No decisions about the specific strategic direction of Provident Insurance have been finalized.”

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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