Cox Insurance Holdings Plc today confirmed that it will be discontinuing its software arm, Brokersure, and will not be accepting any new instructions after 3 June 2005.
Residual assets of £3.7m will be fully amortised in the group's accounts as at 31 December 2004, and the business will be placed in run-off.
The company confirmed that it has reached agreement in principle with Acturis Limited to continue to provide certain personal lines to Acturis users through Cox Insurance Brokers Limited.
This will enable Acturis users to continue to provide substantially the same private car lines to their customers.