Really peeved with Car Insurance

mikey72

raskazz wrote: »

To claim that "Generally industry figures are profitable" in the UK private motor market is total nonsense, especially as you seem to have no examples of profitable business other then Admiral.

“Fortis Insurance UK back in the black after strong Q2”
“Groupama UK profits up 30% to £13.7m for H1 2010”
“Co-op boss expects 2010 profits to beat 2009”

My final post, if you want to say premiums are high to boost profits, and pay the £1500 bouns to all the Admiral employees in your own link above, fair enough, be honest, but your "nonsense" about the gloom and doom of your poor destitute friends should probably stop now.

glider3560

mikey72 wrote: »

“Fortis Insurance UK back in the black after strong Q2”
“Groupama UK profits up 30% to £13.7m for H1 2010”
“Co-op boss expects 2010 profits to beat 2009”

All three of these underwrite other business in addition to private motor insurance. Have you any figures showing a profit on their UK private motor business?

mikey72

glider3560 wrote: »

All three of these underwrite other business in addition to private motor insurance. Have you any figures showing a profit on their UK private motor business?

Yes, but I really have got to the end of the arguement.
Post your breakdowns of where the profits have come from if you want to prove me wrong.

dacouch

Axa used to have a direct arm, they sold it in 2004 as they were not making money

nicjane113

how many people these days claim for personal injury after an accident? so many people these days are claiming thousands of £s for whiplash etc. etc. This is costing insurance companies a fortune so even if you haven't had a claim, everyones premiums are going up. They will be making a profit on the insurance as they're a business so that is the whole point but the main reason is claims

mikey72

dacouch wrote: »

Axa used to have a direct arm, they sold it in 2004 as they were not making money

At least you agree they're coming back in then, Raskazz is claiming they never left.

dunstonh

dacouch wrote: »

Axa used to have a direct arm, they sold it in 2004 as they were not making money

They recently sold their life and pensions arm to Pheonix. This included Colonial and Winterthur and all the other closed insurance companies they owned. They kept their "wealth" arm though.

dacouch

dunstonh wrote: »

They recently sold their life and pensions arm to Pheonix. This included Colonial and Winterthur and all the other closed insurance companies they owned. They kept their "wealth" arm though.

I should have stated "Motor"

They did not achieve critical mass so the economics of the direct arm did not add up and they also wanted to concentrate on broker business

mikey72

dacouch wrote: »

I should have stated "Motor"

They did not achieve critical mass so the economics of the direct arm did not add up and they also wanted to concentrate on broker business

Yes, and now they can see the profits to be made so they're jumping in to the direct market.

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Business Tries To Make Profit Shocka!