Benchmark Your Performance Ratios against Those of Major Competitors in the UK Motor Insurance Market.DUBLIN Dublin, city, Republic of Ireland Dublin, Irish Baile Átha Cliath, county borough (1991 pop. 915,516), Leinster, capital of the Republic of Ireland, on Dublin Bay at the mouth of the Liffey River. , Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. -- Research and Markets (http://www.researchandmarkets.com/reports/c77920) has announced the addition of "Performance Ratio Benchmarking in UK Motor Insurance 2007" to their offering. Introduction This report provides information about the underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. profitability of the top 10 UK motor insurers. It analyzes different performance measures, including loss, expense and combined ratios. In addition, it provides data on GWP GWP Global Warming Potential GWP Global Water Partnership GWP Gift With Purchase GWP Guinea-Bissau Peso (currency code: now GNF) GWP German Wirehaired Pointer (dog breed) GWP Gross World Product for the top 10 motor insurers in 2006 and how this has changed since 2005. Scope Data on 2006 loss, expense and combined ratios for the leading UK motor insurers Insight into the underwriting efficiency of the top 10 UK motor insurers Information on motor insurance premium income changes for leading UK motor insurers in 2005 and 2006 Highlights Improving motor insurance market conditions were evident in 2006 as the average loss ratio of the top 10 motor insurers decreased by 3.3 percentage points, to 71.1%. Average expense ratios among the leading UK motor insurers only changed modestly in 2006, declining by less than a percentage point, from 27.3% in 2005, to 26.7% in 2006. The top 10 UK motor insurers recorded an average combined ratio of 97.8% in 2006 which represents a 4 percentage point decrease from 2005. Moreover this reduction moved the average from a position of underwriting loss into underwriting profit Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted. It does not include any investment income earned on held premiums. . Reasons to Purchase Understand changes in average motor performance ratios Benchmark your performance ratios against those of major competitors Identify which motor insurers became more or less profitable in 2006 OUR VIEW CATALYST SUMMARY ANALYSIS The average loss ratio among the top 10 UK motor insurance providers declined in 2006 with AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery , Norwich Union Norwich Union is an insurance company in the UK. It is the biggest life-insurer in the UK, and has a strong position in motor insurance. It is part of the Aviva group, itself created by a merger of Norwich Union and CGU plc in 2000. and Churchill recording the biggest improvements In 2006, the average loss ratio of the top 10 UK motor insurers fell by 3.3 percentage points to 71.1% AXA, Norwich Union and Churchill recorded the strongest loss ratio reductions Four insurers recorded loss ratio deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. The average expense ratio of the top 10 UK motor insurers declined by 0.7 percentage points in 2006, with Churchill, AXA, NIG NIG National Institute of Genetics NIG National Insurance Guarantee Corporation Ltd. (UK insurance company) NIG Navy Inspector General NIG New in Germany NIG not in goal (soccer) and Royal & SunAlliance recording above-average reductions The average expense ratio of the top 10 UK motor insurers declined by 0.7 percentage points in 2006 Churchill, AXA, NIG and Royal & SunAlliance recorded above-average expense ratio decline Norwich Union, Zurich and NFU Mutual The National Farmers Union Mutual Insurance Society Limited, better known as NFU Mutual, is an insurance company in the UK. It is a mutual company, owned by its policyholders rather than by shareholders, and deals in both life and general insurance. recorded the highest increases in their expense ratios The average combined ratio of the top 10 motor insurers fell by four percentage points in 2006, with AXA and Churchill seeing significant declines The average combined ratio of the top 10 motor insurers declined by four percentage points in 2006 AXA and Churchill recorded significant reductions in combined ratio in 2006 NIG, Direct Line and Zurich recorded combined ratio increases APPENDIX Definitions Average Total average Earned premiums Gross premium Net premium Written premiums Loss ratio Expense ratio Combined ratio Further reading Ask the analyst Our consulting Disclaimer Companies mentioned: - AXA - BUPA - Churchill Insurance Company Limited - Fortis - Groupama S.A. - HSBC Holdings plc - NFU Mutual Group - Royal & Sun Alliance Insurance Group plc - Zurich Financial Services For more information visit http://www.researchandmarkets.com/reports/c77920 Source: Datamonitor |
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