View this article online: https://www.insurancejournal.com/news/international/2005/08/16/58359.htm
Research and Markets(http://www.researchandmarkets.com/reports/c22564) has announced the addition of Competitor Profiles of the Top UK Commercial General Insurers to their offering
This report will profile in depth the top UK commercial insurers. Key market data on each player and their position within the principal lines of commercial business will be examined. The report will also analyze the strategies of these players in order to build an overall picture of the competitive direction of the commercial insurance market.
This report provides statistical data on each of the players profiled including GEP, market share and profitability ratios. It provides insight into their business and distribution strategies and intention for the future based on primary research. Benchmarking of the players along a number of key metrics is included enabling the reader to see which players are performing well and which are underperforming.
NIG’s commercial property book has expanded very quickly between 1999 and 2003. It grew from GBP 26.7 million in 1999 to GBP 163.4 million in 2003, which represents a compound annual growth rate of 57.2 percent.
AXA has reduced its exposure to large fleet business in favor of smaller commercial vehicle accounts in recent years. Large fleet business was thought to be less profitable than smaller accounts. As a result, its share of the commercial motor market has decreased from 6.6 percent in 1999 to 4.2 percent in 2003.
Norwich Union has acquired motoring services group, RAC for GBP 1.1 billion. This will boost its general insurance business. Norwich Union will aim to sell additional products to RAC’s membership base and change the current product holding of RAC customers from a rate of 13 percent currently owning more than one product to over 50 percent.