RSA pulls out of UK broker motorbike

RSA is placing its UK personal lines broker motorbike book into run-off.

RSA made the decision after carrying out a review which concluded that it was the right time to pull its ‘relatively small scale’ account from the UK market.

Motorbike revenues across the market have come under pressure from the economic downturn, as less bikers are taking to the roads, one source said.

The market ‘desperately needs rate rises’ which had tailed off in the second half of the year, he said.

The market was also under pressure from bodily injury claims. Being small scale is also tough because there’s so much back office work to bike, he added.

RSA said in a statement: “We can confirm that our UK Personal Lines Broker business will be exiting the UK Motorcycle insurance market.

“We are in close dialogue with our broker partners to ensure a smooth withdrawal with minimum disruption for clients and will honour all of our customers’ existing policies until renewal.

“Our approach with brokers in the personal lines market is to deliver first class service and underwriting expertise to drive profitable growth. After a thorough review of this specialist market segment, and acknowledging our relatively small scale, we reluctantly concluded that it is the right time for us to withdraw.

“Customers who have purchased motorcycle cover from MORE TH>N are not affected.”