Top 50 Insurers Cover Final:TT 17 20 Final
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Top 50 Insurers cover final:TT_17_20 final 26/11/08 15:48 Page 1 LLOYD'SAVIVAROYALBANKOFSCOTLANDROYAL&SUNALLIANCEGRPAXAA GZURICHFINANCIALSERVICESACEBUPAALLIANZMUNICHREHBOSPLCQBE SGRPEVERESTRENATIONALFARMERSSWISSREASPENINSHLDGSXLCAPITA LLOYDSTSBGRPBRITINSHLDGSFMICGENWORTHFINANCIALCOOPERATIVE ROUPAMALIVERPOOLVICTORIAPOOLRESIMPLYHEALTHGRPALLCHURCHES NEXCORPLEGAL&GENERALMILLEAHLDGSHISCOXLTDDEXIATRAVELERSCO INCSTANDARDLIFEPLCLIBERTYMUTUALHIGHWAYINSHLDGSMMAIARDARCtop50insurers HCAPITALGRPSCORSECATLININSHSBCHOLDINGSBERKSHIREHATHAWAYFINSURANCE TIMES • WWW.INSURANCETIMES.CO.UK • DECEMBER 2008 MHLDGSHDIHAFTPFLICHTLOEWSCORPBNPPARIBASLANCASHIREHLDGSD MESTIC&GENERALLLOYD'SAVIVAROYALBANKOFSCOTLANDROYAL&SUNA LIANCEGRPAXAAIGZURICHFINANCIALSERVICESACEBUPAALLIANZMUNIC REHBOSPLCQBEINSGRPEVERESTRENATIONALFARMERSSWISSREASPENI SHLDGSXLCAPITALLLOYDSTSBGRPBRITINSHLDGSFMICGENWORTHFINAN IALCOOPERATIVEGROUPAMALIVERPOOLVICTORIAPOOLRESIMPLYHEALTH RPALLCHURCHESONEXCORPLEGAL&GENERALMILLEAHLDGSHISCOXLTDD XIATRAVELERSCOSINCSTANDARDLIFEPLCLIBERTYMUTUALHIGHWAYINSH DGSMMAIARDARCHCAPITALGRPSCORSECATLININSHSBCHOLDINGSBERK HIREHATHAWAYFIMHLDGSHDIHAFTPFLICHTLOEWSCORPBNPPARIBASLA CASHIREHLDGSDOMESTIC&GENERALLLOYD'SAVIVAROYALBANKOFSCOTL NDROYAL&SUNALLIANCEGRPAXAAIGZURICHFINANCIALSERVICESACEBU AALLIANZMUNICHREHBOSPLCQBEINSGRPEVERESTRENATIONALFARMER SWISSREASPENINSHLDGSXLCAPITALLLOYDSTSBGRPBRITINSHLDGSFMIC ENWORTHFINANCIALCOOPERATIVEGROUPAMALIVERPOOLVICTORIAPOO RESIMPLYHEALTHGRPALLCHURCHESONEXCORPLEGAL&GENERALMILLEA LDGSHISCOXLTDDEXIATRAVELERSCOSINCSTANDARDLIFEPLCLIBERTYMU UALHIGHWAYINSHLDGSMMAIARDARCHCAPITALGRPSCORSECATLININSH BCHOLDINGSBERKSHIREHATHAWAYFIMHLDGSHDIHAFTPFLICHTLOEWSC RPBNPPARIBASLANCASHIREHLDGSDOMESTIC&GENERALLLOYD'SAVIVAR YALBANKOFSCOTLANDROYAL&SUNALLIANCEGRPAXAAIGZURICHFINANC ALSERVICESACEBUPAALLIANZMUNICHREHBOSPLCQBEINSGRPEVERESTR NATIONALFARMERSSWISSREASPENINSHLDGSXLCAPITALLLOYDSTSBGR BRITINSHLDGSFMICGENWORTHFINANCIALCOOPERATIVEGROUPAMALIVE POOLVICTORIAPOOLRESIMPLYHEALTHGRPALLCHURCHESONEXCORPLEGA &GENERALMILLEAHLDGSHISCOXLTDDEXIATRAVELERSCOSINCSTANDARD FEPLCLIBERTYMUTUALHIGHWAYINSHLDGSMMAIARDARCHCAPITALGRPS ORSECATLININSHSBCHOLDINGSBERKSHIREHATHAWAYFIMHLDGSHDIHAF PFLICHTLOEWSCORPBNPPARIBASLANCASHIREHLDGSDOMESTIC&GENER LLLOYD'SAVIVAROYALBANKOFSCOTLANDROYAL&SUNALLIANCEGRPAXA IGZURICHFINANCIALSERVICESACEBUPAALLIANZMUNICHREHBOSPLCQBE NSGRPEVERESTRENATIONALFARMERSSWISSREASPENINSHLDGSXLCAPI ALLLOYDSTSBGRPBRITINSHLDGSFMICGENWORTHFINANCIALCOOPERATI EGROUPAMALIVERPOOLVICTORIAPOOLRESIMPLYHEALTHGRPALLCHURCH SONEXCORPLEGAL&GENERALMILLEAHLDGSHISCOXLTDDEXIATRAVELERS OSINCSTANDARDLIFEPLCLIBERTYMUTUALHIGHWAYINSHLDGSMMAIARDA RCHCAPITALGRPSCORSECATLININSHSBCHOLDINGSBERKSHIREHATHAWA FIMHLDGSHDIHAFTPFLICHTLOEWSCORPBNPPARIBASLANCASHIREHLDGS DOMESTIC&GENERALLLOYD'SAVIVAROYALBANKOFSCOTLANDROYAL&SU ALLIANCEGRPAXAAIGZURICHFINANCIALSERVICESACEBUPAALLIANZMUN CHREHBOSPLCQBEINSGRPEVERESTRENATIONALFARMERSSWISSREASPE INSHLDGSXLCAPITALLLOYDSTSBGRPBRITINSHLDGSFMICGENWORTHFIN NCIALCOOPERATIVEGROUPAMALIVERPOOLVICTORIAPOOLRESIMPLYHEA HGRPALLCHURCHESONEXCORPLEGAL&GENERALMILLEAHLDGSHISCOXLT DEXIATRAVELERSCOSINCSTANDARDLIFEPLCLIBERTYMUTUALHIGHWAYIN HLDGSMMAIARDARCHCAPITALGRPSCORSECATLININSHSBCHOLDINGSBE KSHIREHATHAWAYFIMHLDGSHDIHAFTPFLICHTLOEWSCORPBNPPARIBAS ANCASHIREHLDGSDOMESTIC&GENERALLLOYD'SAVIVAROYALBANKOFSC TLANDROYAL&SUNALLIANCEGRPAXAAIGZURICHFINANCIALSERVICESAC BUPAALLIANZMUNICHREHBOSPLCQBEINSGRPEVERESTRENATIONALFARWE’RE STILL ERSSWISSREASPENINSHLDGSXLCAPITALLLOYDSTSBGRPBRITINSHLDGS MICGENWORTHFINANCIALCOOPERATIVEGROUPAMALIVERPOOLVICTORIA OOLRESIMPLYHEALTHGRPALLCHURCHESONEXCORPLEGAL&GENERALMIL EAHLDGSHISCOXLTDDEXIATRAVELERSCOSINCSTANDARDLIFEPLCLIBERTY MUTUALHIGHWAYINSHLDGSMMAIARDARCHCAPITALGRPSCORSECATLINISTANDING SHSBCHOLDINGSBERKSHIREHATHAWAYFIMHLDGSHDIHAFTPFLICHTLOEW SCORPBNPPARIBASLANCASHIREHLDGSDOMESTIC&GENERALLLOYD'SAV AROYALBANKOFSCOTLANDROYAL&SUNALLIANCEGRPAXAAIGZURICHFIN ANCIALSERVICESACEBUPAALLIANZMUNICHREHBOSPLCQBEINSGRPEVER STRENATIONALFARMERSSWISSREASPENINSHLDGSXLCAPITALLLOYDSTS GRPBRITINSHLDGSFMICGENWORTHFINANCIALCOOPERATIVEGROUPAMA VERPOOLVICTORIAPOOLRESIMPLYHEALTHGRPALLCHURCHESONEXCORP Top 50 Insurers 3:TT_17_20 final 26/11/08 15:06 Page 04 www.aig.co.uk KEEPS US AHEAD. Ever since their beginnings, AIG companies have thrived and grown through introducing new features and benefits which respond to changing market conditions and customer needs. Today our culture of innovation is as strong as it ever was: we constantly look at how risks are changing and we’re always developing new products so our brokers can help their clients operate with confidence and assurance. In short, we led through innovation in the past, we innovate now and we’ll continue to innovate in the future. AIG UK LIMITED IS AUTHORISED AND REGULATED BY THE FINANCIAL SERVICES AUTHORITY (FSA NUMBER 202628).THIS INFORMATION CAN BE CHECKED BY VISITINGTHE FSA WEBSITE (WWW.FSA.GOV.UK/REGISTER). REGISTERED IN ENGLAND: COMPANY NUMBER 1486260. REGISTERED ADDRESS:THE AIG BUILDING, 58 FENCHURCH STREET, LONDON, EC3M 4AB. A MEMBER COMPANY OF AMERICAN INTERNATIONAL GROUP, INC. Top 50 Insurers 3:TT_17_20 final 26/11/08 13:41 Page 03 top50insurers | 12.08 | Contents | 03 16 CONTENTS 12 4 Introduction 7 Room at the top Why change is coming to the top 50 rankings 12 Choppy waters Conditions are bad, but analysts reckon insurers will survive. This is why 16 Listings Everything you need to know about the country’s biggest insurance groups 38 Tables The top 50 companies in numbers Top 50 Insurers 4 final:TT_17_20 final 26/11/08 16:56 Page 04 04 | Introduction | 12.08 | top50insurers top50insurers EDITORIAL Editor Tom Broughton Deputy editor Ellen Bennett Assistant editor (special projects) Michael Faulkner Features editor Lauren MacGillivray Chief reporter Danny Walkinshaw Production editor Concetta Sidoti Art editor Joe Presedo Publishing director Shân Millie ELLENBENNETT Managing director Tim Whitehouse ADVERTISING ho would have thought Sales director Tom Sinclair it? A year ago, in this Brand development manager Charles W supplement, we asked Rozario insurers if they were fit for the Display advertising manager Daniel Tena-Mullor future. If they had known what Display sales executive Jon Melson the immediate future held, their Display sales executive David Agyei answers might have been very Classified sales executive Kris Oldland different. Marketing executive Sana Kazmi When AIG came close to collapse Publishing executive Elizabeth Telford Head of research Peter Joy before being effectively nationalised by the US PRODUCTION government, the financial services Senior production controller Gareth Kime landscape changed for ever. We now know that no institution is SUBSCRIPTIONS Insurance Times, c/o WDIS Ltd, Units 12-13, Cranleigh too big, too proud or too steeped Gardens Industrial Estate, Southall UB1 2DB in history to fail; it has also become Tel 0845 313 7557 Fax 020 8606 7301 Subscription rates UK/Ireland – £310 (¤485), apparent that the structure of one year; £527 (¤820), two years. capitalism itself is not fixed in Europe and overseas – £685 (¤1,070, $1,310), one year, £1,160 (¤1,819, $2,225), two years. stone. Insurers on both sides of Printed by Headley Brothers, Ashford, Kent TN24 8HH the Atlantic must adjust their Telephone 020 7618 3456 Editorial fax 020 7618 3499 business strategies accordingly. They may also have merged with Production fax 020 7618 3482 As the impacts of the financial or acquired competitors: there has Advertising fax 020 7618 3400 ISDN 020 7248 3996 crisis have yet to play out, the been little merger and acquisition ©2008. All rights reserved. No part of this rankings in this list (page 16) are activity between insurers in recent publication may be reproduced or transmitted in any form, by any means, electronic or mechanical, not dissimilar from last year or years, but that is about to change including recording, photocopying or any information indeed the 2006 version. But take in a big way. storage or retrieval system, without written a good look: next year will be Admittedly, the outlook is grim. permission from the publisher. very different (see page 7). Those Costs will be cut, regulation will Top 50 Insurers is published by Newsquest Specialist Media Ltd, insurers that remain at the top, be an increasing burden. But 30 Cannon Street, or rise to the summit, will have insurance is counter-cyclical and London EC4M 6YJ. played to their strengths in the there will be benefits, such as rising ISSN 1466-8149. intervening months, keeping it prices. Recession is coming but, simple and benefiting from what is rest assured, insurers are still www.insurancetimes.co.uk sure to be a hardening market. standing. Top 50 Insurers 3:TT_17_20 final 26/11/08 15:08 Page 04 Premium finance from RBS Finsure RBS Finsure understands that each broker So however big or small your premium All your is individual and has different needs. This is finance requirements are, email our Sales why we can provide you with a great range Team on SUHPLXP¿QDQFH of personal and commercial products, and [email protected] no arrangement or default fees. In 2007 RBS QHHGV Finsure was also voted the Premium Finance or call 0845 607 5263 to find out how we can help you grow Provider of the Year by brokers, proving our your business. service is second to none. 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