The RSA acquisition of NIG and FarmWeb is a transformational and exciting time for our business as we work towards offering you even better service, products, and pricing.
It is important that we keep you informed about the integration and ensure the transition is smooth for you and your customers. We appreciate that you will have questions and we want to provide you with the answers as soon as we can. Rest assured we are absolutely committed to keeping you updated regularly via our respective e-mail newsletters and our front-line teams will be ready to talk to you about the latest developments. If there are colleagues in your business who do not currently receive the e-mail newsletter, please forward it on to them.
Summary of the deal:
This transformational journey enables us to develop a commercial lines operation in the UK that is geared to outperform, in terms of profitability and growth.
It complements the existing distribution footprint of both companies and provides a core platform to improve service and deliver better products to brokers and customers in the future. As a result, we’ll become the third largest commercial lines insurer in the UK with approximately 7% market share by annual GWP with a combined ratio in the low 90’s in the medium-term.
Principles of the integration:
We will integrate the businesses in the best way that ensures service continuity and protects your business during the transfer, whilst prioritising speed of delivery.
To achieve our program principles and to provide a good experience for you and your customers, a ‘lift and shift’ approach will be used during integration, which means the first objective is to separate the NIG and FarmWeb broker businesses from Direct Line Group (DLG). We are prioritising speed of delivery whilst ensuring service continuity and protecting your business during the transfer. Our ambition is to bring to you a “best of both” so we’ll be merging our products, pricing, service, and value proposition into one.
In the coming weeks, we will announce the leadership team to take forward the combined entity, establishing clear accountability and direction as we begin integrating employees and customers during Q2 and Q3 of this year.
Our colleagues are excited about the future, the opportunities it presents for our business, our customers and our colleagues and we’re keen to always hear from you. We’ll provide regular updates on our Q&A page, so please let us know your questions and concerns so we can ensure you have the answers you need.
To read the latest Q&As, please click here and save this page to your favourites for future updates.
If you have any other questions, as always, your usual NIG contact is available to help.