Tesco Car Insurance - Cheaper Car Insurance Underwriters?

A pint of milk and a loaf of bread please! Here's my clubcard and and can you add my son to my car insurance ploicy for the weekend?

Tesco Car Insurance part of Tesco Personal finances division looks set to switch from its current underwiting agreement with RBS owned UK Insurance to a new provider, the Belgium/Dutch owned consortium Fortis.



The supermarket chain receives about £500 million a year in gross written premiums from insurance sales, which it expects to grow. Around half of this comes from the sale of car insurance. Tesco said that around 1500 extra jobs will be created in addition to its current staff and would help to support an expansion drive of its personal finance arm, to deliberately exploit the weakness of high street banks, and high street walk in car insurance sellers. Tesco Stated that general insurance was central to those growth plans.


Tesco Car Insurance

Fortis and Tesco are expected to agree final terms within the next few months. If the changes happen, the partnership will be underwriting new policies by the second half of next year. Fortis already underwrites insurance policies sold by other Supermarket suppliers Marks & Spencer, and has recently agreed to sell car insurance for John Lewis, an M&S rival. In the past year it has renewed existing contracts to sell travel insurance policies for A&L and the Post Office, both of which have very large high street retail outlets.

Tesco previously ran the personal finance arm in a fifty fifty joint venture with the Royal Bank of scotland.
Tesco recently spent £950 million buying RBS out of the partnership and taking full control. A spokesman for Tesco said that since then, the company’s plan had always been to find a different insurance provider to underwrite policies.

We await to see what will happen to Tesco Compare, the aggressive Internet operator which is we believe, run seperately to the rest of the division and compares car insurance against products from amongst others - RBS!




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World Car Insurance Market Shrinks!

The world car insurance market is shrinking as fast as global warming is melting the ice caps
All around the world thoudands upon thousands of new cars sit idly rusting away while the economies sink further into recession, awaitng new owners who are not forthcoming!
Under the old registration system, March and April would normally be manic times for new car registrations and car insurance in insurance brokers and companies offices up and down the country. today those same brokers are reporting that new car business is quiet! Hardly surprising since many of the workers from the car industry that would normally buy these cars are on short time or laid of for months!

The evidence..............

A very quiet Honda plant in Swindon





Ello John Gotta new motor?


Sheerness for Export?


All over the UK cars are sitting in holding areas getting older!
By the time they are sold they will be eligible for our Classic Car Insurance Schemes!

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