Top 50 Insurers 2016: #41-50

#41

Sabre

Chief executive: Angus Ball

GWP: £180.3m

Management

Chief executive Angus Ball founded the insurance company with chairman Keith Morris in 1982. Geoff Carter is the chief operating officer.

Strategy

Sabre specialises in motor insurance. It sells car insurance mainly through brokers but also direct through its Insure 2 Drive, Go girl and Drive Smart brands. Based in Dorking, Surrey, Sabre was formed in 1982 and operated as an underwriting agency, until the launch of Sabre Insurance Company in 1991. In 2015 the insurer experienced a rise in gross written premiums, driven by increase in rates and a 19% increase in the number of policies.

#43

Cardif Pinnacle

Managing director: Andrew Wigg

GWP: £172.8m

Management

French bank BNP Paribas’s UK insurer is now run by managing director Andrew Wigg after chief executive Paul Glen departed on 17 December 2015.

Strategy

Cardif Pinnacle suffered a heavy pre-tax loss of $31.1m in 2015, far bigger than the £4m loss it reported in 2014. The company blamed the loss on the performance of its home and motor books. Home performance, it said, had suffered from the December 2015 storms and flash flooding in July, while motor “continued its poor performance”.

Cardif Pinnacle has now exited the managing general agency arrangements it had in place for both home and motor.

The company has also set aside a £3.7m provision to pay staff redundancy costs from departures in 2015 and 2016.

Going forward, the company expects growth from pet, motor and warranty business.

#45

Arch Capital Group

UK chief executive: Matthew Schulman

GWP: £145.4m

Management

Matthew Schulman now runs global (re)insurer Arch’s London-based European insurance operation. He replaced previous chief executive James Weatherstone on 1 July 2016, although Weatherstone will remain at the company until the end of December 2016 to ensure a smooth transition.

Strategy

Schulman is already trying to make his mark. He told Insurance Times in August 2016, two weeks into his new role, that he wants the company to work more closely with brokers and Lloyd’s coverholders rather than cutting them out on SME business.

#47

Assurant

Chief executive: Andy Morris

GWP: £116.8m

Management

New York Stock Exchange-listed insurance group Assurant’s European operations are now run by Andy Morris. He was named president and chief executive of Assurant Solutions in Europe, which includes the company ranked here – Assurant General Insurance. He reports to Assurant Solutions global markets president Keith Demmings.

Darren Billings is chief operations officer, Europe and Tim Clancy is chief financial officer.

Strategy

Assurant Solutions specialises in mobile device insurance for both individuals and businesses It also offers a range of other products, including motor and payment protection insurance. The company stepped up the expansion of its business operations in Europe in 1995. In Europe Assurant has around 30 million customers.

#49

Enstar

Chief executive: Nick Packer

GWP: £100.4m

Management

This is the first time that Enstar, best known as a buyer of run-off companies, has featured in the Top 50 Insurers.

But the company that is responsible for its entry into the ranking this year, Starstone, is very much still open for business, and has been here before.

Starstone is the new name for London-based global specialty insurer Torus, which Enstar bought in conjunction with Stone Point Capital in April 2014.

Starstone continues to be run by chief executive Nick Packer.

Strategy

Starstone writes international business through operations in London and continental Europe, and also writes through Syndicate 1301 at Lloyd’s.