Norwich Union purges commercial book as market rates show hardening
Norwich Union (NU) is purging its insurance portfolio of poorly performing business as other large c...
Norwich Union (NU) is purging its insurance portfolio of poorly performing business as other large composite insurers seek to hike prices across their books.
NU is said to have identified its worst performing individual cases. Furthermore, it was alleged that NU had instructed underwriting staff to look at risks according to three-year aggregate loss ratio performance bands: claims free, a loss ratio below 30% and a loss ratio above 30%.
It is understood that a letter sent to broker partners
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