| Link(s): | Premier Insurance Company Limited enters administration | FCA Premier Insurance Company Ltd – latest info for customers | FSCS |
Context
On 14th October 2025, the Gibraltar Financial Services Commission (GFSC) announced that Premier Insurance Company Limited (Premier Insurance) had entered administration. The company is no longer able to pay claims. FSCS declared the firm in default on 14th October 2025 and is stepping in to protect most of the policies Premier Insurance Company Limited sold to individuals and small businesses in the UK. This failure relates specifically to the Gibraltar-based firm and not to the UK broker of a similar name or other UK-based firms with similar names.
Key points to note and next actions
- The FCA has announced that the joint administrators plan to end policies on 1 December 2025. This means customers must arrange alternative valid insurance cover for their vehicles. The FSCS website has been updated to confirm this also.
- This could affect 16,000 customers and it is now stated that the last policies issued run until 31 January 2026. Impacted customers will be entitled to 90% of the pro-rata return of premium from the FSCS.
- For all customers, their policies will not be renewed when they come to an end. This means they will need to arrange new insurance before the current cover expires.
- Any UK intermediaries that have arranged cover with Premier Insurance will need to contact their clients directly to discuss options for arranging alternative cover.
- You can see the original Joint Administrators’ notification on Premier’s website.