Abstract
Introduction
The UK General Insurance Competitor Tracker Q1 2009 reviews the major
developments among the leading competitors in the UK general insurance market
including groups such as Aviva, RBS Insurance, AXA, RSA and Zurich. It
includes information on a range of developments including new product
launches, new affinity partnerships and other trading relationships and merger
and acquisition activity.
Scope of this research
- Information on new product developments, acquisition activity, new
corporate partnerships and other new trading relationships.
- Insight on the following competitors: Allianz, AXA, Aviva, Fortis,
Groupama, The Lloyds Banking Group, RBS Insurance, RSA, Towergate and Zurich.
Research and analysis highlights
RBS announced that it planned to retain its UK general insurance business
which had previously been up for sale. RBS had originally put its UK insurance
arm, which includes Direct Line and Churchill, up for sale with a price tag in
the region of £6 billion to £7 billion in 2008.
Marsh launched the ProBroker network: a nationwide community of independent
mid-sized UK brokers. Marsh is looking to sign up dozens of independent
regional brokers which are willing to quickly commit a significant proportion
of their book to its network, as a means of gaining a foothold in the SME
market.
Allianz has launched a three-tiered household product range named Allianz
Clear to brokers as part of a wider plan to grow Allianz Retail into a
£1 billion premium business by 2013.
Key reasons to purchase this research
- Keep up to date with the new trading relationships that your competitors
have entered into including deals with affinity partners.
- Understand the new products which your competitors are bringing to market,
the main features of these products and the intended target market.
- Keep abreast of the insurance company or broker acquisitions that your
competitors are making.
Table of Contents
DATAMONITOR VIEW
ANALYSIS
- Overview
- Allianz launched a three-tiered household product range and has teamed up
with Kinetic to offer niche classic car insurance products
- Allianz teams up with Kinetic to offer niche classic car insurance
products
- Allianz launched a three-tiered household product range to brokers
- Aviva plans to withdraw its capacity from Ink Underwriting and reported an
8% contraction for Norwich Union Insurance
- Norwich Union Insurance reported an 8% decrease in its NWP due to a
significant contraction in its creditor business
- Aviva announced plans to withdraw its capacity from Giles' s MGA Ink
Underwriting
- Aviva signed a 10 year £700m data center services contract with EDS
- AXA witnessed its general insurance revenues increase by 2% and officially
rebranded its broking arm to Bluefin
- AXA UK announced a 2% increase in its total general insurance revenues
for 2008
- Venture Preference officially rebranded to Bluefin and increased its GWP
to £0.7 billion in 2008
- Fortis formed a five year partnership with UKU and joined the Budget van
insurance panel
- Fortis and UKU formed a five year partnership
- Fortis joined the Budget van insurance panel
- Groupama recorded a 6% increase in its revenue for 2008
- Groupama witnessed a 6% increase in its revenue which grew to
£432.6m in 2008
- Lloyds Banking Group reported a strong performance in general insurance
- Lloyds Banking Group reported positive results across its general
insurance business
- RBS has decided to retain its insurance division which witnessed its
profits increase by 15% in 2008
- RBS has decided to retain its general insurance business
- RBSI witnessed profits increase by 15% to £780m in 2008
- RSA launches iCargo and announces strong results for 2008
- RSA witnessed its UK premium income increase to £2.7 billion
- RSA launched an online tool for marine cover to boost its underwriting
process
- RSA launched a new vehicle repairer network for high value cars
- Zurich reported 2% growth in its UK business
- Zurich' s UK business grew on the back of strong performances in personal
motor and professional liability
- Capita, Bluefin, and Cullum Capital Ventures continued to make
acquisitions in Q1 2009
- Capita Group acquired Hero from LV= for around £15m
- Bluefin acquired the general insurance business of Lakeland Insurance
Services
- Cullum Capital Ventures acquired Brian Potter & Associates
- ABC insurance joined Budget and AA Panels
- Towergate signed an affinity deal with Allianz Commercial
- Towergate is preparing to offer trade credit insurance to SME firms
- Marsh launched the network ProBroker
- EndsleighLet launched the rent guarantee policy Reference PLUS for
landlords
APPENDIX
- Ask the analyst
- Datamonitor consulting
- Disclaimer
| 
