The rise and fall of an insurance giant
At the height of its powers Independent Insurance unveiled operating profits of £69.8m in March 2000...
At the height of its powers Independent Insurance unveiled operating profits of £69.8m in March 2000 for the 1999 financial year and predicted strong growth for the following year with the company valued at almost £1bn. The company had grown quickly and innovatively, on the surface appearing to have rewritten the insurance rulebook.
However, by March 2001 the insurer was nursing a steep decline in profit to £22m that we are now told should have read as a £180m loss, despite gross written premium
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on E-Trading
Commercial transformation boss Flynn to leave Intact UK
Intact UK’s commercial lines chief transformation director Rob Flynn is set to become the latest senior figure to leave the business in the wake of integration with NIG, Insurance Age has learned.
Open GI CEO Badley outlines plan to attract more insurers to its panel
Open GI CEO Simon Badley has promised insurers it will make its brokers easier to deal with and more efficient to attract further providers onto its panel.
Broker Expo 2025: The more specialist the broker, the stickier the customer
Specialising and being an expert in a field means “your customer base will be stickier,” Simon Mabb, head of UK regions at AssuredPartners, claimed this morning.
The stats: Insurer competition drives softening of commercial rates in Q2 2025
The Acturis Commercial Broking Index shows commercial combined and combined liability rates fell into negative territory, while growth slowed across fleet, property owners, and packages in Q2. Ida Axling reports.
Iprism adds excess of loss product to Acturis
Iprism, the specialist construction, property and private clients MGA, has expanded its excess of loss via the Acturis trading platform.
E-trade products to be first Intact launches in October – RSA’s Grosscurth
Tovah Grosscurth, commercial lines MD, has outlined plans for the first Intact-branded products to be e-trade ones launching in October and laid out how RSA is increasing speed and consistency to market.
Allianz enhances QuoteSME platform with customer insight tool
Allianz has upgraded its QuoteSME e-trading platform with the launch of a new tool called Smart Broker Brief alongside a number of enhancements.
UK Broker Awards 2025 shortlist revealed
Today Insurance Age can reveal the shortlist for the 2025 UK Broker Awards.