Don’t believe the gloom merchants because things are definitely on
the up. For example, Ageas profits are
up 38%. esure’s GWP is up to over
£124 million in the last quarter and Hiscox is up a massive 12.3% over the same period. Not to be outdone, Jelf has reported a healthy increase in revenues and profits for
the six month period up to the end of March 2013.
Optimism is flourishing in other areas too with CCV announcing the acquisition of Waveney Insurance Brokers and Thomas
Carroll opening a new west Wales headquarters in the centre of
Haverfordwest to serve existing and new clients in Pembrokeshire. Sterling has announced a long-term
contract appointing QuestGates to act as their liability claims
department, while a five year extension of SSP’s deal with Swinton was completed to provide IT
facilities for its branch network, call centre
and web-based operations.
Product development is not standing still either with Groupama
Insurance making their Optima Classic Bike product available
on Open GI and LV= entering the caravan
market with a new caravan product that includes cover for awnings and
equipment as standard. Plum Underwriting is also re-launching its HomeWorks product aimed at householders
renovating, refurbishing or extending their homes.
In other news BIBA has proposed changes
to its governance structure following a strategic review and also a
change of supplier for its loss recovery scheme from Lorega to DAS. Staying with things BIBA the CII Director of Communications, David Ross, offers a post conference view
by way of a follow-up on his pre-conference article.
Meanwhile the Ageas household claims
teams are glowing after being awarded the ServiceMark accreditation
by the Institute of Customer Service and Towergate are suitably pleased after announcing the renewal of their
Chartered Insurance Broker and Chartered Insurer status.
There is always plenty of news in Market Talk so if you want to keep
in the know make sure you secure your free copy of Insurance
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