UK General Insurance Competitor Tracker Q1 2008

Publication Date	April 2008
Publisher	Datamonitor
Product Type	Brief
Pages	13
ISBN Number	not applicable
Product Code	DAT11516

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£895.00
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Summary

Introduction

The General Insurance Competitor Tracker provides expert analysis and commentary on the strategic movements of key competitors in the general insurance market.

Scope

Information on new product developments, acquisition and consolidation activity, distribution, new corporate partnerships and broker activity.
Insight on the following competitors: Allianz, AXA, Fortis, Groupama, HBOS, Lloyds TSB Insurance, Norwich Union, RBSI, Royal & SunAlliance and Zurich.

Report Highlights

Fortis saw pre-tax profits rise by almost 20% and GWP increase by 10.1% to 757.8m in 2007, but it was felt that by maintaining its underwriting discipline in a competitive market the insurer had lost out. By introducing double-digit rate rises in motor insurance, the insurer failed to grow market share, which accordingly fell in 2007.
Allianz has been extending its partnership with Home Retail Group, the owner of Argos and Homebase. The Homebase scheme was originally restricted to replacement cover, but has now been expanded to include breakdown cover on home and garden products, and a repair and replacement offer for furniture.

Reasons to Purchase

Evaluate key competitor strategies
Input in to your own competitor analysis research
Identify new product development and acquisition activity among your competitors

Content

Summary
Analysis
Overview
- Allianz promotes greener car repairs, enters into a new partnership with WPS and expands its existing deal with Home Retail Group
- Allianz announces measures to promote greener car repairs
- Allianz Commercial appointed sole provider for WPS
- Allianz schemes expands partnership with Home Retail Group
- AXA reevaluates commission levels and starts to see rewards from the purchase of Swiftcover
- AXA reviewing commission rates
- AXA reaps benefits of Swiftcover acquisition
- Fortis reports a profitable year and announces the roll out of its new household product
- Fortis reports rise in profits despite difficult market
- Fortis set to launch new household product
- Groupama continues acquisition push, as well as introducing measures to simplify its online offering
- Lark acquires Griffiths Good & Company
- Groupama launches team to facilitate its broker interaction
- Groupama rolls out new healthcare website
- HBOS reports upbeat results and announces the expansion of its Sheilas' Wheels offering
- Sheilas' Wheels to offer home insurance
- HBOS achieves a combined ratio of 90% despite summer floods
- Lloyds TSB looks to widen its commercial offering and moves into the aggregator market
- Lloyds TSB is set to widen its commercial panel
- Lloyds TSB launches aggregator site
- Norwich Union seeks to grow its broker club, introduces a new package for large property owners and considers alternative distribution methods
- Norwich Union broker club reaches 110 members
- Norwich Union introduces package aimed at large property owners
- Commission levels close to breaking point
- RBSI continues with its restructuring program, while the future remains uncertain for NIG
- RBSI cuts jobs as restructuring program continues
- RBSI rejects claims of conflict between its Direct Line and NIG businesses
- Loss in broker business opens door for sale of NIG
- Royal & SunAlliance looks to roll out unoccupied property service and new trading units and unveils a new brand name
- Royal & SunAlliance announces new unoccupied property inspection service
- Royal & SunAlliance set to launch new trading units
- Royal & SunAlliance reveals brand re-launch
- Zurich expands deal with Cobra Network, reduces its number of vehicle repair partners and looks to purchase Erinaceous's broker division
- Zurich set to expand its deal with Cobra Network
- Zurich set to slash number of vehicle repair firm partners
- Zurich close to agreeing terms for Erinaceous Insurance Services
- Consolidation continues to dominate the broker market
- Willis takeover bid comes during turbulent times for MMC
- AXA gains Lloyd's presence
- Giles completes three more acquisitions
Appendix
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- Disclaimer