Bloomberg warns Admiral and DLG could suffer from FCA premium finance action

profit and loss

Admiral and Direct Line’s profits could be threatened if the Financial Conduct Authority clamps down on companies charging customers for paying motor insurance premiums monthly, Bloomberg Intelligence has warned.

In an exclusive interview with Insurance Post, Matt Brewis, head of insurance at the FCA, hinted regulatory action could be coming this year around premium finance, which he labelled a “poor product”

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