Company results
Helvetia COR improves but IFRS profit down 21% due to “accounting effects”
Swiss-based Helvetia Group saw its IFRS after tax result fall to SFr309m (£220m) (2014: SFr393m) but there was an improvement in its combined operating ratio to 92.1% (2014: 93.5%) and other profit metrics.
Admin fee transparency in the spotlight as insurers report 2015 results
Insurers' reporting of administration fees and non-risk income came under scrutiny in the 2015 full-year results reporting period as firms' balance sheets were dominated by commercial flood losses.
Storms cost L&G £15m as GI operating profit drops
Legal & General paid £15m of claims related to the December 2015 storms as its general insurance operating profit reduced to £51m (£59m) for the year ended 31 December 2015.
Hastings sees GWP rise 27% as it announces first dividend
Hastings has reported a 27% increase in gross written premiums to £614.9m (2014: £483.4m) for the 12 months ended 31 December 2015 and expects to pay shareholders a maiden dividend of 2.2p per share.
O'Roarke confident broker division will return to profit
Bad weather, claims inflation and the distribution of large losses were the drivers of LV's general insurance broker division reporting a loss in 2015, but GI managing director John O'Roarke is confident that segment will make a return to profit.
LV's GI operating profit drops 22% alongside broker division loss
LV's general insurance business has reported a 22% drop in operating profit to £72m (2014: £92m) and a 14% decrease in underwriting profit to £44m (£51m) for the 12 months to 31 December 2015.
Tulloch's Aviva UK successor to maintain momentum with brokers
Incoming Aviva UK general insurance CEO Colm Holmes has vowed not to lose focus “on the fundamentals” and has set his sights on building on relationships with brokers.
Crawford international division reports reduced earnings amid ‘headwinds'
Fourth quarter operating earnings in Crawford & Company's international segment dropped to $7.3m (£5.1m) in 2015 compared to the Q4 2014 result of $9.6m.
Analysts rate Aviva's top of range SII ratio
Analysts have praised Aviva's 2015 full-year results report highlighting the insurer's Solvency II ratio of 180%, which was 20% ahead of some forecasts.
Profits and revenues up at Charles Taylor in 2015
Charles Taylor CEO David Marock has heralded 2015 as a year of “strong growth” after the multi-faceted firm delivered a 31.6% increase in statutory profit before tax to £12.8m for 2015 (2014: £9.7m).
Aviva benefits from Friends Life acquisition as UK profits slide
Aviva recorded a 20% increase in global profits to £2.67bn in 2015 compared with £2.21bn the previous financial year.
Vann to drive home growth at Esure with 'test and learn' approach
Esure is adopting a “test and learn" approach to expanding its home insurance footprint in a bid to quote for a wider UK demographic once rates improve.
Underlying profit drops at Esure amid challenging market in 2015
Esure recorded a deterioration in its combined operating ratio to 97.8% in 2015 (FY 2014: 91.9%) as underlying profit dipped by 22.7% to £82.9m (FY 2014: £107.2m) amid “highly competitive” market conditions.
Aviva flood loss of £100m predicted by analyst in otherwise 'good year'
Aviva is expected to reveal a £100m loss in earnings for 2015 as a result of the extensive flooding that swept the UK during the months of December last year and January.
Health insurance division drives Bupa UK's 5% revenue growth
Bupa UK reported a 5% increase in revenues in 2015 that was largely driven by its health insurance division, which saw an increase in new business in the SME and corporate segments.
Reduced Admiral underwriting share to have little financial impact
Admiral Group's 3% reduction in its underwriting share announced in the company's 2015 full-year results today (3 March) will not have a significant financial impact on the business, according to chief financial officer Geraint Jones.
Principal breaks into profit and doubles turnover
Manchester-headquartered Principal Insurance has reported a post-tax profit of £54,000 in the 2014/15 year from a £51,000 loss the year before.
Novae reports improved 2015 COR and GWP
Novae Group has reported a marginal increase in profit before tax of £54.9m (2014: £52.4m) and an improved combined ratio of 90.8% (2014: 91%) for the year ended 31 December 2015.
Slater & Gordon says UK redundancies likely after 155% profit crash and £448m goodwill write down
Slater & Gordon has said there will “likely” be redundancies and office closures following a review of its UK operations and a goodwill write down of A$876.4m (£448.4m).
DLG storm losses total £130m and push commercial COR to 104%
The December 2015 floods in the UK pushed Direct Line Group's commercial combined operating ratio to 104.5% (2104: 98.8%) but CEO Paul Geddes said the company's results remain in line with competitors.
Starstone reports 383% jump in 2015 earnings
The Starstone Group has reported a significant increase in full-year net earnings for the year ended 31 December 2015 from $4.3m (£3m) in 2014 to $20.8m in 2015.
Money Supermarket reports 2% insurance revenue increase for 2015
Money Supermarket's insurance division reported a 2% increase in revenue for the year ended 31 December 2015 to £140.2m (2014: £138m).
JLT's profit falls 7% after "challenges" in UK & Ireland employee benefits unit
Global broker Jardine Lloyd Thompson's pre-tax profit fell 7% to £170.1m in 2015 compared with the 2014 fiscal period.
Axa's Asia P&C GWP surpassed €1bn in 2015
Axa's property and casualty gross written premiums in Asia exceeded €1bn (£789m) in 2015 for the first time.