Results reveal profit-focused insurers
CEOs’ responses to insurer results suggest greater emphasis being placed on profits than book building
A common thread emerged during the latest set of insurer results. As each CEO discussed the performance of their business in 2012, a huge amount of emphasis was being placed on profit making rather than book building.
For instance, Axa UK and Ireland CEO Paul Evans insisted that the “last thing” the insurer would do for motor business was “irrationally price and chase volume”. Likewise, when addressing the difficulties of the motor market, LV managing director John O’Roarke stressed the provider
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