Company results
DLG sees GWP dip marginally in Q1 as costs plummet 10%
Direct Line Group has delivered a 0.9% dip in gross written premiums for the first quarter of 2015 after attributing a 1.3% reduction in in-force policies to a fall within its partnerships channel.
Peak Re makes first underwriting profit but overall profits fall 60%
In 2014 Hong Kong-based reinsurer Peak Re made a technical underwriting profit of $15m (£9.9m) despite its overall profits falling from $102.9m in 2013 to $41.6m last year.
AIG posts first quarter income rise
AIG has reported a rise in net income in first quarter results for the opening three months of 2015, compared to the same period in 2014.
Aon's risk division sees 5% Q1 revenue drop
Revenues in Aon's risk solutions division decreased by 5% in the three months ended 31 March 2015 to $1.9bn (£1.25bn).
MMC insurance division operating income grows 8%
Marsh & McLennan's risk and insurance services division has reported an 8% increase in operating income to $533m (£347m) for the first quarter of 2015.
Swiss Re hails ‘strong’ first quarter
Swiss Re has reported a 17% increase in net income for the first quarter of 2015 and noted that all business units contributed to profitability
Saga sees full-year motor COR improve to 77.9%
Saga has reported a 10.5 percentage point improvement in its motor underwriting combined operating ratio to 77.9%, for the year ended 31 January 2015.
Money Supermarket insurance division reports 12% growth
The Money Supermarket insurance division reported 12% year-on-year growth for the three months ended 31 March 2015 with revenues of £36.8m for the period.
First quarter GWP down at Lancashire
Specialist insurer Lancashire has posted slight decreases in gross written premiums, profit after tax and net operating profit for the first quarter of 2015.
Euler Hermes Q1 revenues jump 5.1%
Trade credit insurer Euler Hermes has reported a 5.1% increase in revenues for the three months ended 31 March 2015 to €670m (£478m).
Willis predicts M&A momentum as group profits dip by 14.6%
Willis Group CEO Dominic Casserley has heralded a “solid start to the year” despite seeing his firm record a 14.6% fall in net income to $210m (£136.6m) for the opening quarter (Q1 2014: $246m).
New South Wales' storms to cost IAG A$300m
Insurance Australia Group is counting the cost of two damaging storms in the same week.
Lansdown acquisition bolsters SEIB's 2014 pre-tax profit
SEIB’s acquisition of Lansdown Insurance Brokers last April contributed £638,000 towards the firm’s full year increase in profits before tax profits of £3.03m in 2014 (FY 2013: £2.46m).
Aspen ‘operating on all cylinders' in Q1
Aspen Insurance Holdings has reported a net income after tax of $128m (£85.5m) for the three months ended 31 March 2015 alongside a 7.4% increase in gross written premiums.
Tesco reports rise in insurance profits
Tesco has posted a slight rise in insurance profits for the full year ending 28 February 2015, the company has announced.
Cooper Gay's EBITDA increases 35%
Broking group Cooper Gay Swett & Crawford saw its EBITDA climb 35% to $65m (£43.7m) in 2014 compared to $42m in 2013.
Vienna Insurance Group hails ‘major increase' in profit
Vienna Insurance Group has reported a 46% increase in profits to €514m (£373m) for 2014, as well as reduction in COR.
Digital strategy key for Co-op after 'transition' year
The 2014 financial year was “a transition year” for The Co-operative’s general insurance business as it took action to improve its loss ratio, according to chief financial officer Kieran O’Keefe.
Motor to be overtaken by home insurance growth at Hastings
Hastings CEO Gary Hoffman has targeted growth in the company's home insurance book after reporting "more than satisfactory" results for 2014.
Pre-tax profit and GWP up in ‘strong' year for Hastings
Hastings has reported increases in net revenue, profit before tax and gross written premiums for 2014.
Co-op reports insurance loss for 2014
The Co-operative's insurance division struggled in a "difficult market" and posted an operating loss of £7m for 2014, compared to a profit of £36m the previous year.
Covéa boss fears CMA 'failure' on credit hire will increase costs in 2015
The Competition and Market Authority’s failure to take action on credit hire costs following its private motor report last year risks spurring claims inflation, according to Covéa Insurance CEO James Reader.
Covéa credits 'disciplined' pricing for 40% rise in 2014 pre-tax proift
A “disciplined approach to pricing” has been attributed to Covéa Insurance's improved combined operating ratio of 97.8% for 2014 (FY 2013: 98.7%).
Pro Global to invest in growth in 2015 after year of restructuring
Service provider Pro Global Insurance Solutions delivered a total group profit of £3.8m last year, compared to a £33.5m loss in 2013, following the demerger of its run-off business.