Close Premium Finance, part of the UK’s largest quoted merchant banking group, provides an innovative insurance premium payment option which allows clients to combine the payments for several policies into a single monthly sum. The company currently funds over £2 billion of insurance premiums every year.

J Bennett & Son has a long standing working relationship with Close and we find that, as well as having produced an invaluable means to rationalise insurance payments, their finance is often cheaper than that offered by the insurers themselves, particularly on large commercial premiums.

Close’s use of cutting edge financial technology enables us to quickly arrange customer finance on line. Their invaluable system is also extremely flexible. For instance, it allows for:

• Changes to repayment dates
• Additional policies to be added mid-term
• Adjustments to premium to be collected or refunded as required
• Subsequent renewals without any additional paperwork once the agreement is in place

Close Premium Finance, which introduced the concept of premium finance to the UK in 1977, is part of the Close Brothers Group, which was founded in the City of London in 1878. The Group now employs over 2,500 people and has assets of over £6bn.