Team set to follow Steve Stone to Markerstudy
QBE has put its personal lines motor account into run off, the insurer confirmed.
It is understood that a team of between eight and ten former QBE staff will now join Markerstudy, which is setting up an office in Chelmsford, Essex, to work on personal lines motor business.
The staff will reunite with Steve Stone, previously specialist personal lines portfolio manager within QBE's motor division, who joined last month (see: Personal lines motor boss quits QBE for Markerstudy).
A QBE spokesman said: "We can confirm that following a review of our UK personal lines private car portfolio we are placing this non core product into orderly run off. This decision has no effect on the planned growth and strategic development of the commercial motor account which comprises of 90% of our UK motor insurance interests.”
Markerstudy recently snapped up Zenith, another personal lines motor insurer.
See this week’s issue of Insurance Times for more. Also, see our online analysis: A fresh chapter for the motor market