NU & Zurich swoop on Irish motor business
Following a strategic review of its general insurance business, Bank of Ireland Insurance Services Limited trading as Premier Direct Insurance has entered into conditional agreements with Norwich Union subsidiary Hibernian General Insurance and Zurich's Eagle Star Insurance Company, whereby each will acquire the right to offer terms at renewal to holders of Premier Direct Insurance motor policies which they currently underwrite.
Completion of both of these transactions, which involve cash payments to BIIS, is expected by end June 2004. The value of the net assets being disposed is negligible. From the completion date(s) ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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