Product Type: Market Research Report
Published by: Datamonitor
Published: July 2008
Product Code: R313-34413Description 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, Norwich Union, RBS Insurance, Royal & SunAlliance and Zurich
Highlights
In April 2008, Groupama acquired taxi and motor trade specialist ChoiceQuote. The broker has £25m of premiums on its books and is based in Liverpool, with a total workforce of 79 staff. Groupama announced that the broker will retain its brand name and operate independently of the insurer's other UK brokers, such as Carole Nash.
Aviva has announced plans to streamline its operations into one worldwide brand under the Aviva banner. This will mean the phasing out of the Norwich Union, Hibernian and Commercial Union brands in the UK, Ireland and Poland, respectively. The process will be carried out over the next two years and is intended to involve all stakeholders.
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
Table of Contents - DATAMONITOR VIEW
- SUMMARY
- ANALYSIS
- Overview
- Allianz is set to increase its regional presence and improve its SME offering, while high car hire costs push up its combined ratio
- Allianz unit looks to increase its regional strength
- Allianz moves to improve SME offering
- Allianz pins the blame on car hire costs for higher than expected combined ratio
- AXA loses UK chief executive, proceeds with integration of SBJ and reconsiders MGA relationships
- AXA reshuffle sees departure of Hubbard
- AXA changes mind regarding integration of SBJ
- New AXA boss reconsidering MGA relationships
- Fortis moves into mobile phone travel insurance and reshapes both its commercial and personal lines propositions
- Fortis enters into text message travel insurance deal
- Fortis overhauls commercial lines proposition
- Fortis revamps personal lines offering for HNW market
- Groupama acquires motor trade specialist and introduces improvements in broker offering
- Groupama adds ChoiceQuote to its ranks
- Groupama improves online broker service
- HBOS teams up HSBC and Lloyds TSB to acquire EIS
- HBOS, HSBC and Lloyds TSB take control of EIS
- Norwich Union looking to re-brand itself under Aviva banner and prevent consolidators from becoming too powerful
- Aviva set to phase out Norwich Union brand over next two years
- Norwich Union leads fight back against consolidator dominance
- Norwich Union looks to reduce cost base
- RBS stuns the market with announcement of proposed disposal of RBSI
- RBS announces intention to sell insurance division
- RSA wins deal with Ford, aims to provide relationship managers to brokers and enters into HNW arrangement
- RSA wins lucrative deal to become sole provider of car insurance for Ford
- RSA launches scheme to provide relationship managers to brokers
- RSA agrees HNW deal with Smith Greenfield
- Zurich enters into partnership with Howden, expands M&A team and announces cost cutting exercise
- Zurich enters into PI partnership with Howden
- New London office part of Zurich's expanding M&A operation
- Zurich looks to reduce workforce in attempt to cut costs
- Towergate sells share to hedge fund while Oval puts itself up for sale and new online SME broker prepares to launch
- US hedge fund acquires £100m stake in Towergate
- Oval puts itself up for sale for £300m
- New online broker attracts former Willis chairman
- APPENDIX
- Ask the analyst
- Datamonitor consulting
- Disclaimer
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