Company results
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".
CBG chair steps down as revenue and profits dip
Broking group CBG Group saw revenue drop to £8.96m (2008: £11.15m) with adjusted pre-tax profits also falling from £2.25m to £1.026m.
L&G's household book returns to profit with a COR of 98%
Legal & General's general insurance business has recorded a £17m operating profit in 2009, a return to the black after a £2m loss in 2008.
FM Global reports gross premium increase for 2009
Business property insurers FM Global has announced gross premium in force of $4.7bn (£3.0bn) as part of its end of year results for 2009 – an increase of more than 5% year-on-year.
Co-op general insurance premiums up £29.9m for 2009
The general insurance division of the firm’s retail business said premiums had increased 7.6% on 2008, according to an announcement to the London Stock Exchange.
Hannover Re posts substantial profit growth
Hannover Re closed 2009 by generating an operating profit in excess of one billion euros for the first time.
Chaucer redomiciliation likely over tax fears
Chaucer has indicated that high corporation tax in the UK could force it to redomicile to Switzerland, Bermuda or Ireland in 2011, despite posting an increase in profit of £134.8m for 2009.
Hodges: no 'land grab' for Aviva
Aviva UK plans to build its capability in the commercial property owners and motor sectors after its business insurance book shrunk by £400m in 2009.
Fortis UK profit down £47m
Fortis reports non-life profit before tax and interest of £29m, down from £76m in 2008, with CEO Barry Smith attributing reduced profit to “challenging market conditions.”
Editor's comment: Is Aviva now fitter?
For months there has been speculation about how much business Aviva had shed in its efforts to bolster its profitability. The answer — as highlighted in its 2009 full year accounts out this week — was quite a lot, as it reported net written premiums in…
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
Chaucer profits back in black
Chaucer has reported profit before tax and foreign exchange on non-monetary items of £75.3m (2008 loss £59.5m).
Novae profit declines
Pre-tax profits for 2009 at the (re)insurance group fell £9.6m due to first half losses but gross written premiums rose 10%
Aviva UK GI book shrinks by over £1.1bn in 2009
Aviva UK's general insurance operating result fell to £520m (2008: £642m) in 2009. Its combined operating ratio remained static at 99%.
Aviva UK GI book shrinks by over £1.1bn in 2009
Aviva UK's general insurance operating result fell to £520m (2008: £642m) in 2009. Its combined operating ratio remained static at 99%.
Helphire in talks to cut non-GTA deals
Credit hire operator Helphire has revealed it will complete scaling down its business by June, after posting a loss of £400 000 in the second half of 2009.
IAG profits tumble in first half results
Profit at IAG's UK operation fell A$53m (£32m) to A$22m in the second half of 2009, compared to a year earlier.
Allianz ups motor rates by 24% in 2009
Allianz's UK profit rose 5.2% to £203.7m in 2009 despite a 5.4% fall in gross written premium in its retail division to £579.9m as a result of corrective action on private motor rates, which increased by almost a quarter.
Allianz boasts of record investment performance
Allianz Global Investors achieved record profitability in 2009 with operating profits of 1362m euros compared to 904m euros in 2008.
Allianz boasts of record investment performance
Allianz Global Investors achieved record profitability in 2009 with operating profits of 1362m euros compared to 904m euros in 2008.
JLT restructures UK business to capitalise on new MGA unit
News comes as broker reported a 14% rise in fees and commissions to £612.9m (2008: £536.1m) and a 28% jump in underlying profit excluding exceptional items to £97.1m (2008: £76.2m).
JLT restructures UK business to capitalise on new MGA unit
News comes as broker reported a 14% rise in fees and commissions to £612.9m (2008: £536.1m) and a 28% jump in underlying profit excluding exceptional items to £97.1m (2008: £76.2m).
IRB earnings up 2.67%
Brazilian reinsurer increases earnings in 2009 despite drops in premiums, market share and its investment income.
Amlin results show record profit
Profits at Amlin up by over £370m from 2008. However, group results padded by £174.1m reserve releases.