Cox fails to find buyer for subsidiary
Cox Insurance today announced that it has decided to discontinue its Brokersure business and not accept any new instructions with effect from 3 June 2005. This follows termination of the talks to sell Brokersure that it announced in September 2004 as part of its strategy to focus activities on its core underwriting and broking competences.
In a statement Cox said: "The residual asset values of £3.7m will be fully amortised in the group’s accounts as at 31 December 2004. The group’s 2005 accounts will continue to include Brokersure’sOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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