On a strategic level, we focus on motor, property and medical insurance where we have a strong market position and a sustainable competitive advantage. We also provide a complete range of other general insurance products, directly or in partnership with others in order to give better value to our customers.

We base our success on our skilled workforce, our client-focused approach and good reputation as a long-standing, reliable partner. We will continue to build on these strengths. We will use information technology to share knowledge and develop best practices in all aspects of our operations, particularly in customer service and claims management.

Our strategy is underpinned by the following core principles:

• Enforcing strict underwriting principles, in accordance with our commercial criteria, not simply writing policies to increase the volume of business or market share.
• Focusing on business for which we have a sustainable competitive advantage.
• Limiting the conduct of business through agents in order to minimize acquisition costs and establish direct relationships with our clients.
• Settling claims immediately and out of court thus maintaining a low outstanding claims ratio and an excellent reputation as a hassle-free insurer.
• Diversifying our risk portfolios and avoiding adverse selection by opting for many geographically-spread small to medium homogeneous risks.
• Setting optimal retention levels for all our reinsurance treaties.
• Developing and maintaining strict control processes throughout the company.
• Ensuring all our decisions and actions are aligned to the creation of shareholder value.
• Knowing that creating shareholder value is inextricably linked to creating client value and goodwill.