MCE, one of the big players in the UK motorcycle insurance market, went into administration on 17th July. The news was a shock to the motorcycle industry, with Northants-based MCE once claiming to be the UK’s leading bike insurance broker.

MCE appeared to have been doing well until relatively recently. Its accounts for the year to 31st December 2020 reported a turnover of £36.8 million with profits almost doubling to £7.3 million – dividends too, were substantial, with nearly £10 million paid out to shareholders at the end of that year. At the time, MCE’s directors said that they were confident the company would continue to grow, thanks to “developing new opportunities in the insurance market.”

Since then MCE’s financial situation has deteriorated rapidly, with the company accounts up to 31st May 2022 overdue – several MCE directors have resigned in the last few months.

However, MCE’s underwriter Sabre Insurance sought to reassure customers. “Customers’ policies remain in force,” went a statement, “and we will continue to handle and pay all valid claims.” MCE directors have appointed Crowe UK as administrator – for more information, email Crowe.MCE@crowe.co.uk

Jim Freeman, Chair of the BMF, was sad to learn of MCE’s travails: “The BMF hope that Sabre honour their commitment to all their customers, until the expiration of their current policies. I’d recommend that they check out the BMF bike insurance when their current policy expires, we offer a great package to our members.”

Written by Peter Henshaw

Top image courtesy of MCE