Unit fourteen

LANGUAGE FOCUS

EXPRESSING APPROXIMATION

The following words can all be used to express approximation:

about	approximately	around
nearly	roughly	some

Look at these examples from the text:

There are around 850 insurance companies authorised in the UK but approximately one half of them handle more than 90% of company market business. (para. 3)

The Members are grouped in some 350 syndicates. Business is introduced by Lloyd's broking firms — there are some 240 of them - who look for the best quotation on behalf of their clients. (para. 6)

Can you find any more examples?

Practice

Prudential Corporation plc is one of the world's largest life insurance groups.

Working with a partner, comment on the following figures, using an expression of approximation.

Example: Prudential Corporation employs about 30,000 people worldwide.

Prudential Corporation plc: Information at 31 December 2005
No of employees (worldwide):	29,886
No. of employees (UK):	25,886
No. of customers (worldwide):	8.3 million
Funds under management:	£50.9 billion
Dividend per share:	11.0 pence
Premium income from long term business:	£6.01 billion
Profit made before tax:	£267 million

INSURANCE ■

SKILLS FOCUS

LISTENING

1 You will hear Don Raley, an expert in the field of insurance, talking about the way that Lloyd's operates. Listen and take notes under the following headings:

Don Raley

■ Syndicates
■ Underwriters

■ Brokers

■ Names

2 Listen to the second extract.

1 According to Don Raley, what three advantages does Lloyd's have over the insurance
companies?

2 How has it managed to achieve these advantages?

3 Now listen again and find the words that the speaker uses to mean the following:

a strong points

b been unable

c the cost of running a business

d eliminating

e to minimise

f in the area of

g experts

3 In the final extract Don Raley talks about changes in the way that Lloyd's operates.

1 Listen and select the key words that he uses to describe the changes in the following areas:

a Liability

b Regulation

c Marketing

2 Why does Don Raley think change is necessary?

3 Listen again. In which of the three areas above are changes already happening? In
which are changes planned?

SPEAKING

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