Company results
Career File: Peter Hancock
Hancock leaves CEO role at AIG, due to lack of shareholder support
County Group saw 92% profit rise in 2016
The County Group saw a 92% increase in pre-tax profits in 2016, up to £1.1m from £588,041 in the previous year.
Lloyd’s sees underwriting hit following £2.1bn major losses
Lloyd’s has seen underwriting profits slip on the back of major claims of £2.1bn last year.
Peak Re's profit hit by 88% in 2016
Hong Kong-headquartered reinsurer Peak Re saw pre-tax profits fall 88% last year to $6.9m (£5.5m) compared with $59.2m in 2015.
AA profits hit by greater aggregator spend
AA saw profits dip by 2.6% last year due to a higher marketing spend on aggregator sites.
Ping An's profit climbed 15% last year
Shenzhen-headquartered insurance and banking group Ping An saw its net profit rise 15.1% in 2016 compared with the previous financial year.
HDI Global sees 42% rise in profit
German industrial insurer HDI Global SE saw a 42% rise in profit in spite of an “intense” rate environment.
VIG P&C business returns to profit
The Vienna Insurance Group has seen its property and casualty business return to profit after suffering a hit last year.
NFU Mutual sees underwriting profit drop 46% in 2016
NFU Mutual saw underwriting profit drop by 46% last year, to £151m from £281m in 2015.
Ogden cut to wipe £50m off Traveler's Q1 2017 results
Travelers expects to record an increase to prior year loss reserves of approximately $62m (£50m) in Q1 2017 as a result of changes to the Ogden discount rate.
Lloyds Bank's Bill Cooper on M&A in a challenging market
The government's recent decision to lower the discount rate from 2.5% to -0.75% took the market by surprise and generated many column inches of newsprint in the mainstream press.
Ecclesiastical UK underwriting profit tops £25m
Ecclesiastical has reported underwriting profits £25m from its UK and Ireland business in 2016, up from £11.6m in the prior year.
Youi's growth stalls in first half
Australian challenger insurer Youi saw a 30% rise in profits but premium growth stalled in the first half of the year.
Prudential has ‘barely scratched the surface’ in Asia: Wells
Asian insurance markets continue to offer significant opportunity for international financial services group Prudential, the company’s CEO has said.
Asia drives growth as Prudential operating profit soars
Prudential, the international financial services group, has reported record group operating profit of £4.26bn in 2016 thanks to double digit-growth in Asia.
Charles Taylor completes integration of Cega
Charles Taylor has completed the integration of medical and travel claims firm Cega into the wider group.
Esure profits up 18% despite taking a battering in home market
Esure has seen profits rise by 18% despite losses in its home segment from weather claims.
Fitch issues gloomy warning for company market in wake of Ogden rate changes
Fitch has issued a gloomy warning for the UK non-life company market this year in the wake of the Ogden rate cut.
AIG CEO Peter Hancock steps down over eroding shareholder support
AIG CEO Peter Hancock, has resigned, citing a lack of “wholehearted shareholder support”.
Aviva to focus on cost-cutting in wake of restructure
Aviva will look to make cuts in areas of the business that overlap following the recent restructure.
Aviva's general insurance COR soars to 106.3%
Aviva has reported a significant increase in its UK general insurance combined operating ratio to 106.3% in 2016.
Novae hit by US catastrophes and Ogden as profit drops 45%
Novae has described its 98.3% pre-Ogden 2016 combined operating ratio as disappointing while the Lloyd's (re)insurer's investment portfolio performed well.
Admiral's profit falls 25% as CEO blames 'eccentric' Ogden decision
Cardiff-headquartered personal lines insurer Admiral saw pre-tax profit fall 25% last year after the shock decision by the UK government to reduce the personal injury discount rate to minus 0.75%.
Allianz's Asia P&C profits fell 22% in 2016
Allianz saw P&C profits fall 22% in Asia last year to €58m (£49.5m) from €74m in 2015.