We just wanted to advise that the facility that NIG is involved with is for up to £5,000 premium. This is not affected by any discussions HSBC may have started with insurers about business in the premium threshold level of £5,000 to £50,000.

This is not the part that NIG took over as principal underwriter following its acquisition of the Avon portfolio last year and the two segments should not be confused.

David Grant