IAG’s UK-branch sees doubling of profits: Truck and Car Insurance UK: Latest Events

IAG’s UK-branch sees doubling of profits

The UK branch of Australian insurer IAG posted its first half results this week, with pre-tax profit more than doubling.

Gross written premiums for the unit increased marginally from Ј361 million in the same period last year to Ј364 million this year.

Pre-tax profits rocketed from AUS$51 million a year ago to AUS$105 million, despite the company selling off many of its UK businesses.

Neil Utley, UK CEO, said: “We have exited the UK’s highly competitive mass market sector, allowing us to sharpen our focus to our core, profitable underwriter, Equity Red Star.

“This has provided a solid platform to build for the future through an expertise in specialist underwriting, niche and profitable markets and a reputation for service with high profile brands.”

The insurer also retained UK broker Barnett & Barnett.

IAG said it “expects to continue growth” in the UK “through a balanced mixture of acquisition and organic growth in the commercial risk market.”

« London drivers top “uninsured” list | Aviva shames bump-and-scrape car parks »

Direct Motorcycle Comprehensive Options

Many buyers likes to query about on-line motorbike insurance insuring in Phoenix or national transport assurance liability for safe drivers. The answer is simple: understand the topic "IAG’s UK-branch sees doubling of profits" about car insurance uk: latest events and focus on the articles for young drivers from the best rated motorbike insurance experts.

IAG’s UK-branch sees doubling of profits

Category Car Insurance UK: Latest Events

Car Insurance UK: Latest Events

Allianz sees profits rising. Allianz Insurance has released its financial results for the last quarter. The firm saw its operating profit increase markedly despite the ...

Health plans profits decline with membership. Health plans' profits decline along with membership numbersAuthor: Chad With earnings for publicly traded health plans falling, investment analysts are wondering ...

Medicare health insurance plans profits decline. Health plans' profits decline along with membership numbersAuthor: Chad With earnings for publicly traded health plans falling, investment analysts are wondering ...

• Search option on automotive website

  • Find out the most affordable deals and prices here.