Chief
Executive
Officer ...
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MARKET speculation has been at fever pitch
in recent weeks following news that Zurich is
considering a bid for RDG client RSA. It must
have been a nightmare for insurance journalists
as both major insurers reported their half-year
results on the same day. Where to go for the
best story? No matter what the outcome there’s
little doubt that merger activity will continue, not
just among insurers, but also in broking and
insurance services sectors.
Insurers benefitted from another half year of low
claims volumes, enabling them to boost profits
through reserve releases. It is currently a
dogfight in the claims market, and to survive
and prosper suppliers need to offer a
proposition that delivers not just innovation and
savings but a high quality customer journey. It’s
a tough ask, but RDG’s ‘Think Customer’ is an
initiative that has already helped us to do more
business with our existing clients, and win new
business too, including L&G, Barbon and Pen
Underwriting (part of AJG). Delivering growth in
this market is no mean feat, so well done to all
in the claims team.
bedding in the SME book and team we acquired
from Am Trust last year, and it’s now time to
take full advantage, again looking to increase
the size of the business.
The FCA has recently said SME is not well run
from an insurance perspective, so we believe
we can bring a new approach to a market that is
over-crowded and currently distressed. Part of
our continued growth strategy is to keep an eye
Our focus in the second half of the year will be out for possible acquisitions ourselves,
firmly on holding our position in property claims especially in SME and niche products where we
and pushing for growth in distribution,
can add to RDG’s distribution capabilities. One
particularly in Life and SME. Lutine is RDG’s
thing I can guarantee is that the rest of this year
Life MGA, providing niche and specialist life and is set to be just as exciting a time for our
protection products from the Lloyds market,
industry as the last six months, and we are
and, armed with new capacity from Catlin,
centre stage to take advantage providing we
Maiden Life and support from Am Trust and
continue to ‘Think Customer’!
ANV, we are seeking to double the size of the
business during the next 12-18 months.
Derek Coles
We also want to rebalance our portfolio
(currently 90% in personal lines) in favour of
SME. We have spent the first half of 2015
CEO
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