Chaucer aims to grow car insurance arm

first_img Share INSURER Chaucer will expand its UK motoring operations as part of an ambitious new growth strategy. It says the push into motoring insurance will involve a “significant” presence on price-comparison websites. Chaucer wants to balance its exposure to the catastrophe business, which offers high returns but high volatility, with a greater input to the lower-risk motoring sector.However, the firm says its core business remains the 27 specialist London classes, including the new international division, and the UK division. It says it aims to become a “top three dedicated Lloyd’s business.” It is currently number six. It will also develop a new global energy business, taking advantage of its energy, nuclear and engineering expertise.The company has targeted an overall return on equity of 12 per cent and a reduction in its combined ratio of two per cent.Total premium rate increases of 2.7 per cent are forecast for this year after premium income for the first three quarters rose more than four per cent to £677m.Bob Stuchbery, chief executive, said: “A key focus of the management team over the past few months has been to ensure we have the strategy and resources in place to make the most of our core strengths as a business going forward.“With the launch of our new strategy, we firmly believe we are now better positioned to meet the developing needs of our markets, to deliver a superior return on capital and to build enduring value for our shareholders.”Chaucer has staged a strong recovery after a torrid period of natural disasters which included the Chilean and Haiti earthquakes, European windstorm Xnthia and floods in Australia. Tags: NULL whatsapp KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img Show Comments ▼ whatsapp Chaucer aims to grow car insurance arm Thursday 18 November 2010 8:11 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comlast_img

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