QBE has improved its share of new business, according to figures from Roy Morgan Research.

Its slice of new or switched business was 8.2% at the end of February, up from 7% last September.

But Allianz still dominates, with 10.7% of new or switched business, up slightly from 10.2% in September.

CGU endured a rollercoaster ride, starting with a 7.9% share in September, rising to 10% in December and finishing on 8.6% in February.

In the past year 6.1% of businesses switched to new policies, while 9.6% took out new cover, according to Roy Morgan’s Director of Business Research Nigel Smith.

“The most common channel for obtaining new [products] or switching business insurance products remains insurance brokers,” he said.

“But dealing directly with insurance companies comes a close second and has increased in frequency during the past six months.”