ACE European Group chairman Andrew Kendrick stresses that the insurer will not be making a grab for market share and continues to focus on underwriting discipline, in an exclusive interview with Insurance Times.
Recently released figures from Companies House show ACE European Group’s combined ratio last year was 96.6% as opposed to 95.5% in 2009.
Net written premium was £956m (2009: £937.2m) and pre-tax profits were £195.1m (£262.2m).
“We have a very clear message in the market, which is if you want to maintain your proposition to your clients and brokers, then it has to be a strong balance sheet.
"Why would I ask the clients to transfer their risks to my balance sheet if I’ve damaged it through poor underwriting?”
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