UK General Insurance Competitor Tracker Q1 2010

Introduction

The UK General Insurance Competitor Tracker Q1 2010 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, acquisition activity, 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

In February, AXA launched a direct car insurance proposition under the AXA brand. However, the proposition is not a mass market one: AXA will be specifically targeting drivers who have not claimed for eight years.

In February, Groupama announced the launch of a variable commission option as a standard part of its commercial product range for small and medium enterprises (SMEs). Each of Groupama's products will carry a default commission level, but brokers will be allowed to select an alternative amount of commission from a specified range.

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.


Report Highlights
In February, AXA launched a direct car insurance proposition under the AXA brand. However, the proposition is not a mass market one: AXA will be specifically targeting drivers who have not claimed for eight years.

In February, Groupama announced the launch of a variable commission option as a standard part of its commercial product range for small and medium enterprises (SMEs). Each of Groupama's products will carry a default commission level, but brokers will be allowed to select an alternative amount of commission from a specified range.
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DATAMONITOR VIEW 1
SUMMARY 1
ANALYSIS 2
Overview 2
Allianz saw a surprise increase in profits for 2009 2
Allianz saw a surprise increase in profits for 2009 2
Allianz Clear launched Insurecom software 2
Aviva's profits fell, along with the majority of players 2
Aviva's profits went down by around 20% in 2009 2
AXA got into direct car insurance and saw 2009 earnings challenged by weather events 3
AXA launched a direct car insurance proposition and now appears on Confused.com 3
AXA launched an online portal through which brokers can arrange travel insurance 3
Bluefin confirmed plans to acquire further brokers 3
AXA's 2009 earnings were hit by weather events and the tough commercial market 3
Fortis saw good top-line growth but more challenging profits 4
Fortis announced it would hire 550 new employees to assist with its Tesco partnership 4
Fortis is changing its name to 'ageas' 4
Fortis saw top-line growth and a more challenging operating ratio in 2009 4
Groupama unveiled flexible commissions and re-launched personal accident insurance 5
Groupama launched flexible commission on commercial SME business 5
Groupama announced that it would reorganize claims handling 5
Groupama re-launched personal accident insurance 5
The private motor account hit Groupama's profits 5
Lloyds Banking Group sold its stake in esure 6
LBG sold stake in esure 6
LBG recorded a profit of £367m for 2009 6
NIG joined the home insurance panel of Castle Cover 6
NIG joined the home insurance panel of Castle Cover 6
Bodily injury claims ate into RBS profits 6
RSA extended its repair contracts 7
RSA extended contracts with Nationwide Crash Repair Centres and DWS Bodyworks 7
Profits were down at RSA, while premium income held up well 7
Zurich saw premium income of £2 billion in the UK 7
Zurich UK General Insurance reported premiums of £2 billion for 2009 7
APPENDIX 8
Ask the analyst 8
Datamonitor consulting 8
Disclaimer 8

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