RE: Allenby update - 1st May3 May 2024 14:10
Digging deeper, does this explain i) the lack of insurance capacity previously mentioned [see last sentence in quote] ii) the new found confidence that insurance is back. Then there is the reference to ByMiles.... lots to read into this. Why is Trakm8's share price so sh*t........
"The partnership, which is expected to be worth £50m of GWP in the first 12 months, also covers commercial van and includes product distribution through Freedom’s sister company Stella Woman.
Zurich has previously had telematics arrangements with the likes of Carrot, By Miles and My Policy but now will work on a solus agreement in this area with Freedom.
The MGA [Freedom Services] had to pause its telematics insurance offering last year when Italian insurer Unipol withdrew from the UK"
https://www.insuranceage.co.uk/insight/7954772/zurich-strikes-five-year-capacity-deal-with-mga-freedom-services