And Neil Utley predicts “room to grow” will increase success
Australian insurer IAG announced it UK GWP grew marginally from £361m in 2008 to £364m this year but its pre-tax profits leapt from A$51m to A$105m.
UK CEO Neil Utley said in the annual report: "We were able to return our strategic focus to our core specialist underwriting markets through our retained business Equity Red Star.” The insurer also retained broker Barnett & Barnett.
He said the firm had concentrated on “niche and profitable markets”.
Motoring
“We capitalised on our specialist fleet, motorcycle, haulage, classic car and motor breakdown niche lines," Utley said.
“At the same time Barnett & Barnett grew grow written premium, and expects to continue this growth over the next few years through a balanced mixture of acquisition and organic growth in the commercial risk market.
“Our operations have room to grow further in our home markets and the strategy we have adopted will bring additional success.”
