Company results
AI Claims doubles H2 pre-tax profit
Accident management company AI Claims Solutions has posted a pre-tax profit of £1.6m for the second half of 2010 up 97% on the same figure for H2 2009 (£855 000).
JLT announces 17% profit increase
Broker Jardine Lloyd Thompson has reported pre-tax profits of £119.4m for 2010 – an increase of 17% on 2009.
Allianz pre tax profit drops to £158.5m
Allianz said the operating profit is “slightly ahead of plan” but below the 2009 level due to lower investment income and lower reserve releases.
QBE Europe improves COR
QBE Insurance Europe has announced an improved combined operating ratio of 90.5% (2009: 91.3%) despite being hit by the Chilean earthquake and Deepwater Horizon drilling rig incident.
Catastrophe exposure hits Hiscox profits
Hiscox has reported a fall in profits of more than £100m for 2010 after being hit a number of global catastrophes.
Lloyds Bank GI profit rises 1% to £372m
Lloyds Banking Group this morning reported that its profit before tax and fair value unwind from general insurance increased by 1 per cent to £372m in 2010.
Brit Insurance CEO heralds performance in "stodgy" market
Brit Insurance has reported a profit before tax excluding the effect of foreign exchange on non-monetary items of £119.2m in 2010 (2009: £171.3m).
Brit Insurance CEO heralds performance in "stodgy" market
Brit Insurance has reported a profit before tax excluding the effect of foreign exchange on non-monetary items of £119.2m in 2010 (2009: £171.3m).
Chartis records $4bn loss in Q4 2010
Chartis reported a fourth quarter operating loss of $4.0bn, due to reserve additions net of discount and loss sensitive premium adjustments of $4.2bn, compared to a loss of $1.8 bn in the fourth quarter of 2009.
Moody’s: Allianz results validate Aa3 rating
Ratings agency Moody’s has claimed that Allianz Group’s recent financial results support its decision to grant the insurer an Aa3 insurer financial strength rating.
RSA reports £80m profit dip at group level
Insurer RSA has announced a group pre-tax profit of £474m for 2010 – down £80m on the figure for 2009.
Allianz UK profit moves backwards to Euros 185m
Allianz saw its UK profit fall to Euros 185m in 2010 (2009: Euros 230m)on earned premiums of Euros 1.8bn (2009: Euros 1.6bn).
RBS Insurance records £295m loss and 115% COR in 2010
Royal Bank of Scotland Insurance has decribed 2010 as "a disappointing profit year", after reserve strengthening for bodily injury claims and severe weather, resulted in a loss of £295m (2009: £58m profit) and a combined opertaing ratio of 115% (2009:…
RSA bolsters motor reserves and reports UK underwriting loss of £95m
RSA's UK business reported an underwriting loss of £95m (2009: profit of £75m) and a COR of 102.2% (2009: 98.0%) in 2010.
No-claims household insurance discount considered by Axa
Axa is considering awarding no-claims discounts to household insurance customers to encourage them to take more responsibility for preventing weather-related losses and improve its book's profile.
Helphire sees profits fall despite cutting half of staff
Accident management firm Helphire has cut more than half its workforce since launching a business restructure in 2008.
Boisseau urges insurers to heed big freeze wake-up call
Groupama Insurances' chief executive has claimed the December freeze ought to have been "a wake-up call" for the insurance industry and claimed that Association of British Insurers' £1.4bn loss estimate is an "underestimation".
Post Magazine – 24 February 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
No-claims household insurance discount considered by Axa – Insurance News Now – 24 February 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories including how Axa is considering awarding no-claims discounts to household insurance customers to encourage them to take more responsibility for preventing weather-related…
Helphire cuts 400 staff under restructure
Accident management company Helphire reduced its headcount by more than 400 staff during the last six months of 2010 as part of its business restructure.
CFC sees operating profit rise 26%
Specialist lines MGA, CFC has recorded a gross premium income rise to £36 million for the year ending September 2010.
Groupama UK profit rises 70%
Double-digit premium rate growth in private motor supported a 4.6% revenue growth for Groupama Insurances to £470.9m in 2010 (2009: £450.3m).
Swiss Re reports strong results despite catastrophes
Swiss Re has recorded a full year net income of USD 863m in 2010, a 74% increase on the USD 496m the reinsurer reported in 2009.
Axa UK earnings fall to £131m
Axa UK’s earnings fell to £131m (2009: £235m) in 2010.