Description
Finsur provides independent, file-based analysis of Asurion Europe Limited and its captive insurer WDP Insurance, the UK subsidiary of Nashville-based Asurion that administers device protection programmes for Tesco Mobile and Google.
This report analyses Asurion Europe’s FY2024 financial performance, WDP Insurance’s technical account, and the economics of the Tesco Mobile Protect programme. With the Tesco Mobile contract expiring in August 2026 and triggering a competitive tender, this analysis examines Asurion’s position ahead of a pivotal renewal decision.
Key findings from the Asurion Europe Limited FY2024 analysis include:
– Revenue: £16.04m (-3.1% YoY) with UK revenues stabilising at £3.48m
– Operating Profit: £2.18m (+56% YoY) despite gross profit declining 15%
– WDP Insurance: £51.84m GWP with 24% net loss ratio and 191% solvency coverage
– Tesco Mobile: ~413k active policies at 11.3% attachment rate
– Contract Risk: Tesco Mobile expires August 2026, triggering competitive tender
– New Business: Google Preferred Care launched October 2024, ramping
REPORT INCLUDES
– Five-year revenue and profitability trend analysis
– WDP Insurance technical account and solvency assessment
– Tesco Mobile Protect programme economics and attachment rate modelling
– Balance sheet dynamics and £28m unrecognised deferred tax assets
– Competitive positioning ahead of August 2026 renewal
WHO SHOULD READ THIS
This note is written for investors, corporate development teams, and senior executives in device protection and mobile insurance who need visibility into Asurion’s UK operations, the economics of the Tesco Mobile programme, and how the August 2026 contract renewal shapes competitive dynamics with Assurant, Likewize, and Domestic & General.
FORMAT & DELIVERY
PDF. Your personalised copy will be emailed within 24 hours of purchase.
