ReportsandReports - UK General Insurance Competitor Tracker Q2 2010
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The UK General Insurance Competitor Tracker Q2 2010 reviews major developments among the leading competitors in the UK general insurance market including AXA, Aviva, Fortis, LV=, RSA and Zurich. It includes information on a range of issues including new product launches, new affinity partnerships and summaries of H1 financial reports.
Scope
- Information on business performance, new product developments, acquisition activity, new corporate partnerships and other new trading relationships.
- Insight on the following competitors: Allianz, AXA, Aviva, Fortis, LV=, RSA and Zurich.
Aviva generated an operating profit of £229m from its UK General Insurance division, which was down 7.0% on H1 2009. This largely comprised investment returns of £212m.
In 2009 it was reported that the combined reported revenue of Kwik-Fit Insurance Services Group was £89m. It is expected that the transaction will be finalized in Q4 2010 and will make Fortis the fourth largest personal lines intermediary distributor in the UK.
Groupama has adapted its tradesman’s policies, the Optima Trade Plus range, to incorporate more part-time staff who work fewer than 16 hours during the week and which cover public and employer’s liability, tools, trade contents, contract works, business interruption and personal accident.
Reasons to Purchase
- 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.
Datamonitor view 1
Summary 1
Analysis 2
Allianz generated profits of £78.4m 2
Allianz saw profits of £78.4m in H1 2010 2
Allianz revamped its Commercial Select product 2
Aviva recorded a profit of £229m for H1 2010 2
Aviva generated profits of £229m 2
Aviva launches a groundbreaking flood map 2
Aviva launched a new low-cost PMI policy - Speedy Diagnostics 3
Axa reported strong top line growth in its private motor business while launching a new misfuelling insurance product 3
AXA's success with Swiftcover continues 3
Axa partnered with Complectus to launch misfuelling insurance 3
Fortis continued to expand its personal line business by completing affinity deals 3
Fortis achieved higher GWP in Q1 2010 3
Kwik-Fit sold off insurance wing to Fortis 4
Fortis won a deal with American Express 4
Fortis was been selected as insurance partner of recently rebranded Age UK 4
Groupama adapted its SME-targeted commercial insurance products 4
Groupama recorded an increased profit 4
Groupama launched stand alone professional indemnity cover for SMEs 4
Groupama adapts its policies to cater for part-time staff 5
Lloyds Banking Group ceased selling its PPI product 5
The Lloyds Banking Group saw £9m increase in H1 profits 5
The Lloyds Banking Group has withdrawn its PPI products offering 5
LV= took steps to enhance its income protection range and expand its sales structure 5
LV= announced new enhancements to its income protection range 5
LV= expands its general insurance staff 6
RBSI recorded a marginal increase in its total revenue while NIG is set to exit personal lines and launched a property product for SMEs 6
Prior year reserve strengthening meant RBSI recorded a loss 6
NIG proposed to exit personal lines 6
NIG launched its premier property owner products to a broker panel 6
RSA's pet insurance book to be boosted by the new partnership with Tesco 7
RSA sees a major uplift in commercial motor NWP 7
RSA gains significant boost from Tesco pet insurance partnership 7
Zurich launches new technology product 7
Zurich launches new Telecoms product to keep in line with evolving technology 7
APPENDIX 8
Ask the analyst 8
Datamonitor consulting 8
Disclaimer 8
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