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UK General Insurance Competitor Tracker Q3 2009

Datamonitor
October 28, 2009
SKU: DFMN2500539

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Countries covered: United Kingdom

Introduction

The UK General Insurance Competitor Tracker Q3 2009 reviews the major developments among the leading competitors in the UK general insurance market including AXA, Aviva, LV=, RBS Insurance, RSA and Zurich. It includes information on a range of issues including new product launches, new affinity partnerships and other trading relationships.

Scope

Information on business performance, new product developments, new corporate partnerships and other new trading relationships.
Insight on the following competitors: Allianz, AXA, Aviva, Fortis, Groupama, LV=, RBS Insurance, RSA, and Zurich.

Highlights

Aviva launched a new commercial property owner's insurance product which is traded exclusively online via its online trading platform, Fast Trade.

AXA announced that it has secured a 10 year partnership with HSBC, to provide insurance solutions to HSBC's small to medium sized business customers. HSBC will offer AXA's business insurance policies to new customers from January 1st, 2010 and to existing customers at renewal.

In September 2009, Zurich announced that it would be exiting the new-home warranty and building control markets following an internal review, due to the sustained decline in the UK house-building market and economic downturn.

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.

DATAMONITOR VIEW
SUMMARY: Analysis; Overview; Allianz saw its commercial book grow by 7.5% in the first half of 2009; Allianz witnessed growth in its UK GWP which increased by 2.9% in H1 2009; Aviva began promoting the benefits of using brokers to business insurance customers and maintained a focus on profitability; Aviva witnessed NWP decrease by 20.9% while focusing on improving profitability; Aviva launched its first TV advertisement, promoting the professionalism of its brokers; Aviva launched a commercial property owners package; AXA secured a partnership with HSBC to sell SME commercial insurance and recorded a decline in GWP for H1 2009; AXA saw its GWP in UK general insurance decrease by 4% year-on-year in H1 2009; AXA partnered with Ryanair to sell travel insurance products; AXA secured a partnership with HSBC to sell SME commercial insurance; Fortis entered a new partnership with Toyota; Fortis gained a £20m deal with Toyota; Groupama launched low cost legal cover for SMEs and witnessed 6.3% growth in its UK property and casualty business; Groupama UK witnessed strong growth in its property and casualty business; Groupama launched low cost legal cover for SMEs-Optima Liability; LV= announced growth in its H1 2009 results; LV= recorded growth across all distribution channels and recorded a 92% increase in GWP in H1 2009; RBS recorded 2% growth in its GWP in H1 2009; RBS witnessed significant growth in its own brand business in H1 2009; RSA launched a new MNW policy and solar energy insurance product and achieved rate increases in H1 2009; RSA launched a new MNW insurance product; RSA launched a solar energy insurance product; RSA recorded a 3% decline in NWP, despite achieving rate increases in H1 2009; Zurich announced its exit from the new-home warranty and building control markets and appointed a new CEO; Zurich announced its departure from the new-home warranty and building control markets; Zurich targeted brokers with charity offerings; Stephen Lewis became the new CEO of Zurich in the UK; Willis secured a contract with Selfridges, while Gocompare.com launched a price comparison service for pet insurance; Aon won the Boparan Holdings account from Willis; Willis secured a contract with Selfridges; Giles secured a partnership to provide commercial insurance to customers at Clydesdale Bank and Yorkshire Bank; Admiral reported a 10% increase in Confused.com's revenue; Gocompare.com launched a new pet insurance comparison service
APPENDIX: Ask the analyst; Datamonitor consulting; Disclaimer

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UK General Insurance Competitor Tracker Q3 2009

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