Insurer now convinced of broker’s independence - three years after fallout
Hiscox has given a new agency to Bluefin, ending a three-year standoff that saw Hiscox accuse the AXA-owned broker of not being impartial.
Hiscox cancelled its agency agreement in 2011, citing concerns about Bluefin’s lack of independence from AXA and lack of support for Hiscox.
Bluefin hit back, with then chief executive Stuart Reid “utterly refuting” the claims, which he described as “a bit cheap”.
Now Hiscox has started working with Bluefin again, Insurance Times has learned.
“I can confirm that we are now working with Bluefin,” a spokeswoman said. “Our trading relationship with them is much the same as the relationships we have with other broker partners.
“We have been reassured of Bluefin’s independence and the quality of their advice to customers. We are looking forward to building a meaningful partnership.”
Reid, now Bluefin’s executive chairman, said he was “really delighted to win our agency back with Hiscox”.
He said: “We’ve had tremendous support from all around the market during the years without an agency and that will continue.
“But we look forward to building a new and burgeoning account with Hiscox. They’re a fantastic market with a great brand - we will be able to do great work together.”
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