Company results
Zurich UKGI COR hits 109.5% amid £62m operating profit loss
Zurich's UK general insurance business has reported a £62m business operating profit loss in its 2015 full-year results due to a high volume of large losses, and claims related to the end of year UK storms and floods.
Zurich's CEO announces more job losses after "disappointing" 2015
Zurich's interim CEO Tom de Swaan has announced plans to eliminate 8000 roles by the end of 2018 after announcing a 37% profit fall last year.
Kirshner hails 'tremendous' underwriting result at Markel
Alan Kirshner, executive chairman at Markel, said 2015 was a "tremendous year" for the (re)insurer's underwriting operations.
Willis GB commissions and revenues slump in 2015
Willis GB has reported a drop in revenue to $641m (£443m) for the 12 months to 31 December 2015 while, at group level, the broker reported a $24m net loss for Q4 2015.
Storms cost Aspen £17.8m in Q4
Aspen Insurance Holdings paid out $25.7m (£17.8m) related to UK floods in the quarter ended 31 December 2015 as it reported a combined ratio of 99.6% for the period.
Aon international broking revenue falls 10% to $2.76bn despite organic gains
Aon has today reported its international broking arm – which includes the UK – saw revenue fall 10% to $2.76bn (2014: $3.05bn) in 2015. A figure that jumps to 12% less currency impact.
Allied World CEO bemoans ‘challenging year’ as 2015 profits plummet
Global insurer Allied World recorded a significant fall in net income from $490.3m (£337.6m) for the full year in 2014 to $83.9m in 2015.
Beazley reports 87% COR as it prepares for London HQ move
Lloyd's insurer Beazley saw its profits and gross written premiums increase for the year ended 31 December 2015 while its combined operating ratio improved to 87% (2014: 89%).
Munich Re releases €1.4bn of reserves as it records €3.1bn profit despite Ergo struggles
Munich Re this morning reported a consolidated profit of €3.1bn (£2.5bn) (2014: €3.2bn) for 2015 on gross written premiums of €50.4bn (2014: €48.8bn).
Gallagher sees 2015 broking profits rise by 1% despite Q4 dip
Arthur J Gallagher’s broking division recorded a marginal increase in profits to $266.4m (£186.3m) last year, representing a 1.3% uptick on the $262.9m it generated in 2014.
NAHL says taskforce report no threat to short-term performance
National Accident Helpline generated reduced revenue in the second half of 2015, according to a trading update from NAHL Group which expects to report that revenues are up 15.7% for the year ended 31 December 2015.
UK and Ireland winter storms to cost Zurich $275m
Zurich is expecting to record an operating loss in general insurance for the fourth quarter of its financial year as a result of strong storms across the UK and Ireland.
Money Supermarket reports 10% drop in Q4 insurance revenue
Aggregator Money Supermarket has reported a 10% fall in insurance revenues for the three months ended 31 December 2015.
Hyperion eschews 2015 dividend as RKH deal fuels £81.4m accounting loss
Hyperion will report an International Financial Reporting Standards accounting loss of £81.4m for 2015 as a result of expenses such as that associated with the acquisition of RKH.
Blog: What will Maurice Tulloch's legacy as Aviva UK GI CEO be?
The news that Maurice Tulloch is to step down from his post as CEO of Aviva’s UK general insurance business should not have come as much surprise.
Acromas offloads tax losses to Saga for £7.65m
Over-50s insurer Saga is to acquire tax losses from Acromas SPC Co and Acromas Mid Co - a 31.5% shareholder in Saga, worth £15.3m, according to a Saga trading statement.
Blog: From AIG to Zurich, five predictions for insurers in 2016
Now that we have all had a chance to get back into our pre-Xmas routines; quit our cous-cous diets and break our new year’s resolutions, I thought it would be a good time to look into my crystal ball and predict how the year might pan out for insurers.
Industry facing 108% COR for 2015 as floods wreak havoc on home profits
Insurers’ profitability for home insurance in 2015 has been put into freefall by the intense period of wet weather in December, with combined operating ratios for the year estimated to have deteriorated 16 percentage points to 108%.
Detail on AIG strategy to be revealed
AIG will provide a strategy update and release its fourth quarter results on 26 January, following a number of cost-cutting measures last year in a bid to save up to $500m (£341m).
Insurers warned flooding losses could exceed £1bn in wake of Eva
The insured losses from the 2015 flooding could exceed £1bn in the aftermath of storm Eva, endangering some firm’s end of year results, an industry expert has warned.
Blanc hails ‘heartening' full-year figures at Aston Scott
Aston Scott Group has reported a 6.4% increase in its fee and commission income for the year ended 30 June 2015 to £17.8m (2014: £16.7m).
Legal & General to stop quarterly reporting
Legal & General is to stop quarterly reporting in 2016, the company has confirmed through a note to the London Stock Exchange.
Fitch warns of insurers' ability to absorb cost of further storms
Fitch Ratings has deemed losses from Storm Desmond will be manageable for insurers but will impact the sector's ability to absorb further weather-related losses over the winter, should they occur.
Stream halts trading in Australia as part of bid to raise capital
Stream Claims Services UK’s Australian-based parent the Stream Group requested a pause in trading on Friday (27 November) in a bid to conduct a capital-raising drive.