Amazon closing its insurance business in the UK after conducting an internal assessment

The decision was made after an internal assessment. Customers in the UK may now purchase house insurance through the Amazon Insurance Store. When it was launched, it was made available to a small number of clients before being made available to everyone.

It has been confirmed by Amazon that, around 15 months after its introduction, the UK insurance shop would be closed.

An internal review led to the decision. To make it easier for UK clients to shop for house insurance, Amazon Insurance Store was created. At first, it was offered for a small number of clients before being made available to everyone.

Interestingly, Amazon stated in a statement: "Over the last year, we have been evaluating various businesses and programmes, and as a part of that, we've made the difficult decision to discontinue the Amazon Insurance Store."

Analysts interpreted the news as "a reminder of the importance of choice and the intense level of competition within UK price comparison."

(Sources: investing.com, reuters.com)