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Regulation of Insurance
(text in RED has further details if you move over it)

It is important for the protection of the consumer that Insurance business is regulated. With the repeal of the Insurance Brokers Registration Act (IBRA) on 30th April 2001, regulation was taken over by the General Insurance Standards Council (GISC). B. Portwood & Co Ltd (our registered name) applied to become Members of GISC on expiry of the IBRA and was admitted to Membership on 8th May 2001


From 14th January 2005 we have been authorised and regulated by the Financial Services authority (FSA) for the arrangement and administration of non-investment insurance contracts. You can check our registration at www.fsa.gov.uk.  

 

(For your information here are some insurance companies that have vanished over the years)

(The list below may not be accurate - we apologise and will correct any mistakes)

  • ALS - Merged with Highway

  • Anchor - merged with Paladin, then RB and now WREN

  • Bradford Pennine - part of Royal & Sun Alliance

  • Commercial Union - now part of Aviva

  • Dominion - Motor portfolio taken by Equity

  • Drake - Went into Liquidation

  • Eagle Star - Now part of Zurich

  • East-West - Taken over by Equity

  • Excess (London & Edinburgh) - taken over by Norwich Union (Aviva)

  • Federated General - went into run-off - business taken by Equity

  • General Accident - part of Aviva

  • Independent - in liquidation

  • Lombard Elizabethan - transferred to Groupama

  • Minster, Malvern - now part of Groupama

  • Milestone - taken over by Corinthian

  • Mitre - taken over by Equity

  • Municipal Mutual - went into liquidation

  • National Motor - part of Groupama

  • Northern Star - taken over by Bishopsgate - now Fortis

  • Orion - Taken over by GRE which was taken over by AXA

  • Paladin - now part of Wren

  • Pegasus - now part of Highway

  • Provincial - taken over by AXA

  • RB - now part of Wren

  • Renown - now part of Wren

  • Royal - now part of Royal & Sun Alliance

  • Service - taken over : new Service is in force

  • Sun Alliance - merged into Royal & Sun Alliance

  • TL - ceased underwriting

  • Trinity - Taken over by Equity

  • Trojan - Ceased underwriting

  • Westgate - rebranded as AXA

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