Insurer plans “substantial growth” in second half of 2011
Zurich is poised to return to the personal lines motor market in the second half of the year, according to an exclusive Insurance Times interview.
Personal lines manager Karl Bedlow admitted that the insurer had seen £200m wiped off its personal lines premium base over the past year, following aggressive rate hikes on motor.
He said Zurich was planning to return to the market later this year – but that it would not chase volume at the expense of profit.
Bedlow said: “2011 is a game of two halves. We need to get through the process of making sure we’ve got all the capabilities we need, and the proposition and delivery designed in the right way, then we’re looking to enter the market again in a more substantial growth phase in the second half of 2011.”
Click here to read the full interview with Zurich UK chief executive Stephen Lewis, Bedlow, commercial boss Dave Smith and Zurich Municipal managing director Ann Torry.
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