Warning: include(rotator.php) [function.include]: failed to open stream: No such file or directory in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 76
Warning: include(rotator.php) [function.include]: failed to open stream: No such file or directory in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 76
Warning: include() [function.include]: Failed opening 'rotator.php' for inclusion (include_path='.:/usr/lib/php:/usr/local/lib/php') in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 76
Impressive growth
24/06 27 February, 2006
Reporting alongside Lloyds TSB Group, Lloyds TSB General Insurance today reported an impressive double digit increase in Profit Before Tax of 22 per cent or £37million in 2005. The results demonstrate the impact of a series of initiatives underpinning the insurer's strategy.
Profit growth has been driven by enhanced sales through direct channels, improvements in business retention activities reflecting higher levels of customer satisfaction and improvements in operational efficiency. Net operating income improved by £26million as growth in income from home and motor business was partly offset by reduced broking commission payments from loan protection insurance reflecting the slowdown in unsecured consumer lending growth during 2005. At the same time, claims fell by £17million to £197million and the claims ratio improved to 34 per cent.
Sales through direct channels continued to demonstrate strong growth with gross written premiums from new policies sold through direct channels increasing by 9 per cent. Home internet sales were up 39 per cent while motor internet sales grew by 12 per cent.
Commenting on the ...cont/
year's achievements, Phil Loney, managing director, Lloyds TSB Insurance, said, "2005 has seen continued progress in the implementation of our strategy. Sales through direct channels have grown in an intensely competitive environment. We have further improved our pricing and retention capabilities and these improvements, combined with our ongoing commitment to deliver exceptional customer service have helped drive our bottom line. Both our supply chain collaboration and claims reengineering programmes are delivering improved efficiencies which have helped underpin a reduction in the combined ratio for the 2nd consecutive year to 80.8 per cent."
Further progress has been made in respect of the insurer's corporate partnerships programme including a new distribution agreement secured with MORE TH>N during 2005.
The results come as Lloyds TSB Insurance returns to TV for the first time since December 2004 with a new advertising campaign designed to reinforce its credentials as Britain's most popular home insurance provider and externally communicate its new visual identity.
Commenting further, Phil Loney said, "The appalling floods in Carlisle at
Warning: include(rotator.php) [function.include]: failed to open stream: No such file or directory in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 180
Warning: include(rotator.php) [function.include]: failed to open stream: No such file or directory in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 180
Warning: include() [function.include]: Failed opening 'rotator.php' for inclusion (include_path='.:/usr/lib/php:/usr/local/lib/php') in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 180
the beginning of 2005 demonstrated the strength of our customer services model. As the number one provider of home insurance in Britain (Note 1) we were the first to have customers back in their homes and are rightfully proud to have been voted the best insurance company in the UK by the people of Carlisle (Note 2). It's this commitment to our customers which is delivering competitive advantage and driving new business."
Phil Loney adds, "We expect the softening personal insurance market to continue into 2006, and will maintain our focus on ensuring that new business acquired is profitable. We will focus on building new business levels for home insurance through the UK Retail Bank, developing new corporate partnering opportunities and on the successful launch of our new SAP claims software."
Warning: include(rotator.php) [function.include]: failed to open stream: No such file or directory in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 222
Warning: include(rotator.php) [function.include]: failed to open stream: No such file or directory in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 222
Warning: include() [function.include]: Failed opening 'rotator.php' for inclusion (include_path='.:/usr/lib/php:/usr/local/lib/php') in /usr/home2/usr/home/cheapuk/public_html/articles/home-insurance/impressive_growth.php on line 222
By;- Lloyds TSB Insurance home insurance provider, popular home insurance, tsb insurance, home insurance through, best insurance, home insurance
Footspas bubble - esure home insurance Footspas bubble to top esure's £3.1bn* useless gadgets list.
(27th September 2004)
Three quarters of UK adults spend, on average, £73.85 on household items they once believed would be invaluable but have rarely, if ever, used...
Barclays price challenge. - Barclays Home Insurance Barclays extends home insurance price challenge.
24 November 2005 - Barclays
The Barclays Home Insurance price challenge offer has proved so popular with customers that it is being extended. With our Home Insurance already in many best...
Dont be green - Budget Insurance Don't be green when it comes to your gardening gear.
5th April 2004
With the Easter weekend fast approaching, and many people planning to get out the in the garden, Budget Home Insurance Services is urging homeowners not to join the...
Parents are a cause for conecern. - DirectLine Insurance 04/02/2006
The state of housing inhabited by Britain’s over 60s is causing major concern to their families, according to research by Direct Line Home Response 24.
A fifth of Britons (21 per cent) said they worried about their...
Wossy's home - Norwich Union Home Insurance 28 July 2005
The 'Quote Me Happy' insurance people Norwich Union have come up with some amazing facts regarding the way we feel about the home lives of the rich and famous. Asked which celebrities we thought had the happiest homes, two TV...
home insurance provider, popular home insurance, tsb insurance, home insurance through, best insurance, home insurance
