Professional indemnity (PI) underwriting agency Saturn has denied rumours that it is for sale.
Sources said that two Lloyd's PI brokers had recently expressed an interest in buying Saturn. But Satu ...
Professional indemnity (PI) underwriting agency Saturn has denied rumours that it is for sale.
Sources said that two Lloyd's PI brokers had recently expressed an interest in buying Saturn. But Saturn director Michael Cant said there was "no intention" to sell the company.
Saturn is jointly owned by the company's directors and the insurer MMA. An MMA spokesman said this week that Saturn was not for sale.
MMA is the major capacity provider for Saturn, which contributes around 8% of the insurer's gross written premium (GWP). MMA's total GWP stands at £206m.
Last week MMA announced it would move away from its broker-only focus to distribute products through a wider range of intermediaries.
The insurer said it would change its distribution strategy from smaller brokers to telebrokers and affinity groups. MMA confirmed it is currently in the process of reviewing its agency agreements.
l Further to the announcement by MMA Insurance of the death of chairman Peter Woolterton, MMA wishes to advise that the funeral service will take place at the Parish Church of Thorpe St. Andrew, Yarmouth Road, Thorpe, Norwich on Thursday, 27 November at 2.15 p.m.
It is requested that family flowers only be sent, but donations can be made payable to Care for Clare Appeal, c/o G. W. Gooch & Sons Ltd, Funeral Directors, Kimberley Street, Norwich, NR2 2RJ.
