Provider of credit and legal services Anexo has signed a major agreement with UK brokerage MCE Insurance, it announced Thursday, to offer post-accident claims services to all of MCE’s no-fault insurance clients.
The publicly traded company said the deal followed auto insurer Saber signing an agreement with MCE, which would allow it to become the exclusive underwriter of MCE’s motorcycle policies.
He said UK-based MCE is an independent company and, since starting operations in 1975, has grown into one of the UK’s largest motorcycle insurance providers.
Under the agreement, Anexo would take responsibility for handling claims from MCE customers who have suffered no-fault accidents.
Replacement motorcycles would be provided through Anexo’s credit rental division, DAMS, and customers would be supported in their legal claims against the responsible insurer through its legal services division Bond Turner.
If applicable, claims would include bodily injury and damage to property and equipment, as well as repair or replacement of the vehicle.
Anexo said statistics showed motorcyclists were “particularly vulnerable” to bodily injury from no-fault crashes.
The company said it expected the deal to result in a “significant increase” in both the number of vehicles on the road and the number of cases handled by Bond Turner.
He said the deal, which was initially for three years, is expected to have a “mostly positive” impact on revenues and increase profits for fiscal 2022.
“We have a long history of providing replacement vehicles and supporting complaints to the motorcycle community and our number of motorcycles has grown, especially due to the increasing volume of couriers on the road during the Covid-19 pandemic. Said Executive Chairman Alan Sellers. .
“The deal provides a substantial source of new business in addition to the introductions we currently receive from our network of more than 1,100 introductory garages.
“This represents a major contribution to our growth strategy as we work to develop our business and create value for all of our shareholders. “
At 11:46 GMT, Anexo Group stock was up 3.24% to 135.76p.