Industry needs to take a cycle-proficiency test
Making underwriting profits from general insurance in the UK has always been difficult and in its da...
Making underwriting profits from general insurance in the UK has always been difficult and in its darkest hours at the bottom of the cycle this often appears to be impossible.
The margins are extremely thin and from 1993-2004 the industry made underwriting losses of over £11bn on total gross written premiums of £360bn. This represents a 3% negative margin. Only three out of 12 years produced an underwriting profit, with the largest in 2004. This was a profit of £1.36bn on income of £42bn - a 3%
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Management
TBIG makes fourth major investment of the year
The Broker Investment Group has increased its stake in Callaway & Sons Insurance Consultants, located in Chelmsford, Essex to 100%.
The stats: Hard market remains - but for how much longer?
Property and fleet rates remain stubbornly high as shown by the latest Q4 figures from the Acturis Commercial Lines Index, Rachel Gordon reports.
Interactive insurance broker UK M&A Map 2024
In 2023, Insurance Age reported on 114 UK broker deals with Brown & Brown Europe leading the way with 21.
NFP boosts London presence with Advanced Insurance Consultants buy
US-headquartered broking firm NFP has purchased London-based Advanced Insurance Consultants to develop its client base in the London and the wider South East areas.
Malcolm Harvey retires from Qlaims
Managing general agent Qlaims has announced founder Malcom Harvey has retired.
Buying or selling an intermediary: Lessons from the front line part 1 – finance and regulation
In the first of a three-part series on broker M&A, Will Lanyon, partner in PFK Littlejohn’s transaction advisory team, examines the financial and regulatory issues broker leadership teams should consider during acquisitions.
Matthew Hill named CEO at the CII
The Chartered Insurance Institute has appointed Matthew Hill as group CEO joining in early April.
Adler Fairways makes string of purchases
Adler Fairways has completed two purchases this month through the acquisitions of ACM Broking and Primassure, taking the total in the past 12 months up to five.
Most read
- Cost-of-living crisis pushes up premium finance demand
- Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
- Ardonagh strikes A$2.3bn PSC deal