Company results
Asta-managed syndicate reports profit in first year
Dale Underwriting Partners has posted a modest profit in its first year of account, despite “challenging” market conditions.
Go Compare to invest in start-up insurtech businesses
Go Compare is looking to invest in start-up insurtech businesses to help the aggregator website reach new customers, says CEO Matthew Crummack.
Discount rate cut could benefit Hastings, says CFO
The cut to the Ogden discount rate will benefit “agile players” who procure business predominantly through aggregators, Hastings' chief financial officer Richard Hoskins said.
Go Compare demerger resulted in £8.1m hit to profit
The demerger of Go Compare from parent company Esure cost the business £8.1m, causing a drop in profit of 5.2%.
Hastings posts profit and expansion plans despite £20m discount rate hit
Hastings has made a 5% growth in profit despite taking a £20m hit from changes to the Ogden discount rate.
JLT posts robust Asia-Pacific 2016 results
Last year UK-headquartered international broker JLT grew revenues and profits in Asia and was buoyed by a good employee benefits performance in Australia and New Zealand.
JLT backtracks on Brexit contingency plan statements
JLT has backtracked on earlier statements made in the year on the group’s contingency plans for Brexit.
Crawford & Company reports improved financial results for 2016
Crawford & Company has reported improved financial results in 2016 with a net income attributable to shareholders of $36m (£28.9m), up from a net loss of $45.5m in 2015.
R&Q raise £16.9m through share placing
Randall & Quilter has conditionally raised £16.9m through a placing of new ordinary shares with institutional shareholders and directors as the group looks to simplify its business model.
JLT profits fall in 'challenging' trading environment
JLT has decried a “challenging” trading environment as it posts a 13% drop in pre-tax profits.
QBE looks to move £500m of business to new territory
QBE will move £500m of business, around 20% of its European operation, out of the UK in the wake of Brexit.
'Mixed bag' for London market says Hiscox MD
Hiscox’s London market business has presented an inconsistent and mixed operating year for the insurer, according to Steve Langan, CEO of Hiscox Insurance.
Insurers' share prices tumble as profits hit by discount rate changes
More insurers have posted swingeing losses as a result of the discount rate cut.
Hiscox posts 'record' 2016 as UK and Europe profits double
Insurer Hiscox has reported a "record" profit of £354m for 2016, an increase of 64%, driven by a benign claims environment and strong investment return.
QBE Europe reports increase in COR due to weakened sterling
Australian insurer QBE has reported an increase in its combined operating ratio for its European division and a dip in it profits in the year 2016.
Ogden discount rate set at minus 0.75%
Liz Truss, Lord Chancellor and Secretary of State for Justice, has decided to implement the Ogden discount rate at minus 0.75%, a change from plus 2.5%.
AIA's Tucker sees 7% China penetration in 2030
Mark Tucker, CEO of Hong Kong-headquartered life insurer AIA, sees great potential for his company and others in China.
QBE announces A$1bn share buyback after 2016 profit increase
Australian global giant QBE has seen its share price climb after posting its 2016 group performance today.
This week: Personal injury, fundamental flaws and results
Personal injury took on a new meaning for me this week when I discovered a bruised ankle picked up during a recent paragliding adventure was actually a bad break.
Swiss Re Q4 profit drops 45% due to nat cat claims
Reinsurance giant Swiss Re has reported a 45% drop in fourth quarter net profit, citing costly natural catastrophe claims for the fall in profit.
Axa sees profits rise by 12% in 2016
Axa has seen underlying profit rise by 12% to £263m in the UK and Ireland business.
RSA's profit climbs 25% in 2016 as annual cost savings hit £290m
RSA's UK operating profits increased 76% in 2016 to £259m - the best result in a decade.
Scor Global P&C posts GWP of €5.3bn for 2016
Scor Global P&C reported gross written premiums of €5.3bn (£4.4bn) at the end of 2016, an increase of 1.2% at constant exchange rates.
Lloyds Banking Group's GI division takes hit from softening home market
Lloyds Banking Group’s general insurance division saw gross written premiums fall by 3% in 2016, to £1.1bn from £1.14bn in the previous year.