The website is part of the eGroup Insurance companies and the site provides short term and “pay as you go” car insurance in addition to standard insurance policies. The eCar site arose after the successful eBike platform launched in 2004. All eGroup Insurance websites combined have sales exceeding one million policies with growth continuing at a rapid pace.

Southern Rock Insurance Company Limited partially underwrites eCar's car insurance policies.

Is eCar insurance financially strong?

In order to ascertain the financial strength of eCar policies, it is necessary to check the ratings of the underwriters Southern Rock Insurance Company, which is registered in Gibraltar. The company is Authorised and Regulated by the Financial Services Commission of Gibraltar according European Union standards.

Major companies like Standard & Poor’s publish insurance company financial strength ratings on a regular basis.

Standard & Poor’s ratings (S & P)

S & P last rated Southern Rock Insurance Company Limited in 2007 when it upgraded the company from a "BB-" to a "BB" rating. The BB rating is the fifth highest possible score from S & P and is given to companies that have marginal financial security characteristics.

A BB company is still considered to have positive characteristics but with insufficient ability to meet financial obligations in difficult business conditions. However, the rise to BB from BB- is a positive movement and S & P gave the company a stable outlook meaning that it was not expected to rise or fall in ratings in the near future.

S & P upgraded Southern Rock Insurance Ltd because it had made improvements in its competitive position by further developing its online distribution network according to analyst Nigel Bond. The company had only started trading in early 2005, which restrained S & P from taking strong positions on its financial strength.

Bond noted that the company could improve its product and geographical diversification, but that its rapid expansion in the online market is a very positive sign.

However, it appears that Southern Rock Insurance Company Limited has withdrawn its listing on Standard & Poor's as its ratings no longer appear on the S & P's website.

Overall evaluation of

As of 2007,'s underwriter Southern Rock Insurance Company Limited offered "marginal" financial security as attested by the S & P "BB" rating. However, the company is no longer rated by S & P, so its financial strength is somewhat of a question mark.

In June 2010, Brightside PLC acquired eCar and eBike from Southern Rock Insurance Ltd and is now responsible for marketing the latter's policies. Brightside is not rated by any of the major ratings publishers but investors in the company included major insurer Norwich Union (owned by Aviva) and Swedish firm Stena Investments.

Brightside PLC holds 307,000 insurance policies and its profits grew by 33 percent in the first half of 2010 to £4m.

It should be noted that ultimately the car insurance policies written by this company come under the umbrella of the Financial Services Compensation Scheme ( .


Please note that this page is for your information only, we do not make any recommendations as to whether or not you should have dealings with this company. If in any doubt you should seek advice from a properly qualified and authorised advisor.

This information was, to the best of our knowledge, correct on 15th October 2011. If you are aware of changes since then please

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Copyright 2011 All Rights Reserved. is a trading style of Prudent Plus Ltd of Booths Hall, Booths Park, Chelford Road Knutsford Cheshire WA16 8GS. Quotes are provided by Sky Insurance Services Group Limited with whom we have a trading agreement only and who are authorised and regulated by the Financial Conduct Authority no. 469048. We receive from them a commission per policy purchased; this will not affect the premium you pay for your policy in any way.