Company results
Novae's gross written premiums up by 10% in the first half of 2016
Novae Group has seen a 10% increase in its gross written premium in the first half of 2016.
Axa posts solid global first half results despite 'headwinds'
Axa's underlying profits were flat at €3.1bn (£2.6bn) in the first half of 2016 compared to the same period last year, with net income climbing 4% to €3.2bn.
AIG's global commercial premiums shrink 21% in Q2
AIG's shares climbed 2.5% in after hours trading after returning to profit in the second quarter of 2016.
Geddes ‘proud’ of Direct Line for Business as growth continues
Direct Line Group is putting ‘extra effort’ into its commercial business as gross written premium for Direct Line for Business increased by 8% in the first half of 2016.
Positive Carole Nash results 'driven by customer focus', says CEO
Customer focus was key to Carole Nash’s strong annual results, CEO David Newman told Post.
ERS in the black as H1 2016 COR hits 99.8% on back of £7.3m profit
Lloyd’s motor insurance specialist ERS has reported a profit of £7.3m in it the first half of 2016, the result of continued underwriting and volume growth.
Aon's broking division sees little change in total revenue for H1 2016
Aon’s broking division Risk Solutions saw total revenues for H1 2016 differ by only a quarter of a percent from the same period last year.
Can Zurich rebound from senior brain drain as Sharma and Martin join departee list?
Zurich was long regarded as consistency personified; a stable and calming force in an often turbulent insurance market. But in recent years, the Swiss giant has been hit hard by poor financial performance. To counter that, the company then introduced a…
Swiss Re's Mumenthale positive despite nine point hit to H1 COR
Swiss Re has reported a H1 net income of $1.9bn (£1.44bn), down from $2.3bn (£1.75bn) for the same period in 2015.
Brit CEO Cloutier hails "sound performance" despite "challenging" market
Lloyd's insurer Brit has reported an operating profit before FX and corporate activity costs of US$198.5m (£150.5m) for the first half of the year (H1 2015: US$70.9m). Profit after tax was US$197.6m (H1 2015: US$6.4m).
Gallagher sees strong increase in net earnings
Arthur J. Gallagher’s broker business saw a 28% increase in their net earnings in H1 2016, from $140.9m (£106.7m) for the same period last year to $180.8m (£136.9m).
Lloyds Banking Group insurance profit hit by weather claims in H1 2016
Lloyds Banking Group this morning reported that its general insurance business saw a 12.5% drop in general insurance ‘underlying profit’ for the first half of 2016 after reporting £168m in income (H1 2015: £192m).
Natural catastrophe losses hit XL Catlin's Q2 profits
XL Catlin suffered $240.1m (£182m) of natural catastrophe losses in the second quarter of 2016 compared with $59.9m in the same period last year.
Lancashire Holdings pre-tax profits fall by 36% in H1 2016
The first half of 2016 saw pre-tax profits for specialist insurer Lancashire Holdings drop from £67.5m in H1 2015 to £43.1m.
No further job losses planned, JLT promises staff
JLT will not be making further job cuts as a result of its restructure, deputy group CEO Mark Drummond Brady has told Post.
JLT announces 300 job cuts as part of restructuring programme
JLT today announced it has taken “decisive action” to better align costs, cutting more than 300 UK and Irish jobs within its UK Employee Benefits business as part of its restructuring programme announced in March.
Hiscox could set up EU carrier following Brexit
Hiscox could set up a separate EU registered business if the UK loses access to the common market, the company’s CEO has said.
Hiscox sees growth in London market
Interim results reveal Hiscox London Market grew during the first half of 2016.
Beazley looks to target EU business from Dublin as it seeks to extend reinsurance license
Lloyd's of London insurer Beazley is working to ensure its Irish reinsurance business gains access to the European market, even if Lloyd's loses its pass-porting rights.
Beazley sees profits slip in H1 results as rates fall
Beazley has seen a slight dip in profits in its results for the first half of this year owing to declining rates.
Aviva upgraded after insurer moves to quell investor concerns post Brexit vote
Investment adviser Macquarie has lowered its price target for Aviva to 442p from 502p and upgraded the stock to 'outperform' from 'neutral' following the UK’s vote to leave the EU last week.
Axa UK can meet global COR targets says CEO Amanda Blanc
Axa's UK CEO Amanda Blanc believes that the business is on target to meet the ambitious improved targets for group-wide combined operating ratio set out as part of its new four year strategic plan yesterday.
Storms Elvira and Friederike will dampen French and German earnings
Storms Elvira and Friederike will dampen the first half 2016 earnings of French and German insurers, though it is unlikely there will be any negative rating actions as a result, according to AM Best.
Results yield growth for Tysers
Lloyd’s broker Tysers has seen revenues rise to £46.8m (2014: £41.3m) and EBITDA grow to £9.4m (2014: £8.2m) in its 2015 results.