We are delighted to report continued strong performance for the UK insurance operations.
At the end of the first quarter, our non-life GWP increased to GBP 197.4m, an 11 per cent increase quarter on quarter (Q4 2008: GBP 177.7m) and 7 per cent increase over the same period in 2008 (Q1 2008: GBP 185.0m).
Commenting on the results, Barry Smith, CEO Fortis UK, said: "I'm delighted with the strong performance delivered in the first quarter, clearly supported by the progress we are making with our multi-channel distribution strategy, innovative product development and the service excellence we continue to provide to our partners and customers.
"In the first quarter alone, we reported some significant new partnerships, including a new commercial arrangement with the Post Office, in addition to further developing our product portfolio, for example Fleet. We continue to receive very positive feedback on our service excellence, evidenced by the recent IIB, Insurance Age and Professional Broking surveys for broker service. These results provide a solid platform for the year ahead and I continue to be personally grateful for the support we receive from our brokers, partners and of course, our employees."
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Notes to Editors:
About Fortis
Fortis (Insurance UK) is a leading provider of award-winning personal and commercial lines insurance solutions in the UK. Fortis UK has two main divisions, manufacturing both non-life and life products, which are distributed through a range of channels including brokers, IFAs, intermediaries, affinity partners and the Internet, as well as various wholly or partially-owned companies (RIAS, Fortis Insurance Solutions, Affinity Solutions Ltd, Text2Insure and InsureTECH Systems).
Insuring in excess of 6.7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. It employs almost 3,000 people with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Haywards Heath, London, Redditch, and Stoke-on-Trent. In 2008, its non-life profit before tax and interest was £76 million and its non-life GWP was £760 million.