Personal lines broker signs new deal with PremFina after Close Brothers decision

Premium finance provider PremFina has entered into a new multiyear strategic partnership with personal lines broker One Answer Insurance.

Established in 2000, One Answer Insurance is a niche personal lines broker that specialises in motor insurance, including more complex or non-standard cover.

The partnership with PremFina aims to enhance One Answer Insurance’s ability to offer customers bespoke propositions at competitive prices.

Trevor Cutts, managing director at One Answer Insurance, said: “Partnering with PremFina, whose customer-centric approach strongly aligns with our values, feels like a natural step for our business.

”This will further strengthen our ability to provide tailored insurance solutions, ensuring our clients benefit from greater flexibility in financing their policies.”

Close Brothers

The partnership comes after Close Brothers announced in July 2025 that its premium finance business will exit some broker relationships over the next year as it starts to move away from personal lines.

As a result, PremFina are seeking to step in to provide tech-enabled financing, backed by its £350m facility announced in June 2025.

Laura Sweetman, chief product and revenue officer at PremFina, said: “Our new partnership with One Answer Insurance reflects our commitment to delivering flexible customer-focused solutions across both personal and commercial lines.

“With our enhanced technology, backed by market expertise and financial firepower, PremFina is uniquely positioned to address the evolving needs of the personal lines market and continues to deliver to both our broker partners and their customers.”