Company results

Admiral battens down the hatches

Admiral has been the darling of the stock market for a number of years but, despite record pre-tax profits, its share price took a tumble last week. Chinwe Akomah finds out why.

IAG remains disappointed by UK performance

“Disappointing” was the word repeatedly used by Australian giant IAG about its struggling UK business, dominated by Equity Red Star at Lloyd’s that has been ravaged by bodily injury claims.

Ageas states commitment to commercial lines

Speaking following the release of its half year results for 2011, which saw the insurer report a profit of £23.7m, Barry Smith, chief executive of Ageas UK, told Post that whilst the growth in commercial is “encouraging” there is still a lot more to do.

Amlin posts £192.3m loss

Lloyd’s insurer Amlin blamed catastrophe claims of £314.3m (H1 20010 £127.1m) that added 34 percentage points to its combined ratio for a pre-tax loss of £192.3m (H1 2010: profit of £107.6m).

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