Company results
Zurich group reports stable £3bn operating profit
Zurich reported a group general insurance business operating profit of $2.89bn (£1.9bn) for the year ended 31 December 2014 which equated to 50% of its overall business operating profit.
Bupa UK sees 2014 revenue grow 5% to £2.7bn
Bupa UK has achieved a 5% revenue increase for the year ended 31 December 2014 to £2.7bn.
Friends Life grants investment opportunities but selective GI exits considered
The Friends Life deal will “accelerate” Aviva’s turnaround and enhance its ability to deliver improved cashflow and growth according to CEO Mark Wilson.
Motor rate decline to halt in 2015, says Admiral UK CEO
Price reductions in the UK motor market are set to end in 2015, as cheaper claims frequency rises in the wake of lower fuel costs, according to Admiral Group’s UK CEO David Stevens.
Aviva records 6% increase in operating profit
Aviva posted a 6% increase in group operating profit to £2.17bn for the 2014 financial year, and an improved combined ratio, as CEO Mark Wilson warned the firm had “further to travel” with its turnaround plan.
Admiral posts reduced profit for first time since float
Admiral Group posted a profit of £357m for 2014, the first fall in profit since its stock market flotation in 2004.
JLT sees 'great opportunity' for European cyber growth
JLT plans to use its experience in the US cyber market to grow its European business, although it may need to win over large corporates who remain on the fence about the benefits of the cover, deputy CEO Mark Drummond-Brady has said.
L&G GI chief questions long-term pricing approach of rivals
Legal & General's approach to long-term home insurance pricing means it is in a more favourable position than certain market peers, according to the firm's general insurance boss Mark Holweger.
Torus CEO 'pleased with progress' under Enstar
Enstar Group has reported Torus Insurance's results for the final three quarters of last year.
L&G 2014 GI profits hit by £12m cost of last winter's storms
Adverse weather at the start of 2014 has been cited as a major factor behind a £10m reduction in operating profit within Legal & General’s general insurance business.
Novae posts record GWP figures for 2014
Lloyd’s insurer Novae Group posted a 1% drop in profit before tax and foreign exchange in 2014, despite delivering record gross written premium of £638.5m last year (FY 2013: £590.3m).
Geddes rules out further disposals or large acquisitions for DLG
Direct Line Group's CEO Paul Geddes has told the market not to expect anymore disposals or large-scale acquisitions in the foreseeable future.
JLT heralds 2014 growth in face of 'marked decline' in rating environment
JLT has delivered a 3% increase in pre-tax profits for 2014 to £159.7m (FY 2013: £154.6m) and a 13% rise in total revenue to £1.10bn (FY 2013: £979.2m).
Money Supermarket 2014 insurance revenue grows 8%
Money Supermarket's insurance division has seen an 8% rise in revenue to £138m for the year ended 31 December 2014.
DLG hits all four 2014 targets despite reduced motor profits
A £50.6m year-on-year reduction in operating profit from ongoing operations within Direct Line Group’s motor business was the main driver behind a marginal dip in the insurer’s group-wide operating profit for 2014.
Hiscox UK and Europe delivers record profits in 2014
Hiscox chairman Robert Childs has heralded his firm’s “discipline” in underwriting and within its investment portfolio after posting a marginal reduction in group pre-tax profit for 2014 of £231.1m (FY 2013: £244.5m).
RSA disposals impacted by staff pension liabilities
RSA is reportedly turned-off the prospect of a break-up of the company due to large amounts of sale proceeds having to be allocated to staff retirement schemes.
Amlin profits hit by reduced reserve releases and investment return
A combination of condensed reserve releases and a dip in investment return last year has been blamed for a £67m fall in profit before tax at Amlin.
Laspo 'unwinding' will impact motor rates, claims Dye
The long-term success of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 could be in doubt, with signs showing an “unwinding” of the reforms designed to tackle motor claims inflation, according to Allianz UK CEO Jon Dye.
Lloyds Bank GI profits hit by early 2014 storm claims
The impact of storm claims in the first quarter of 2014 and the continued run-off of legacy books resulted in Lloyds Banking Group posting a £41m drop in underlying profit for its general insurance business last year.
Profits down at Allianz UK despite 12% increase in 2014 GWP
Allianz UK CEO Jon Dye has heralded his firm's 2014 results as being "well ahead of our expectation", despite seeing operating profit before tax fall and the retail business suffer an underwriting loss.
FM Global reports 79.4% COR for 2014
FM Global reported a combined ratio of 79.4% in 2014 alongside a 2% increase in net premiums to $3.6bn (£2.3bn).
Lewis rules out motor market exit for RSA in the current climate
RSA's UK CEO Steve Lewis has confirmed the insurer's commitment to the motor sector.
Allianz sees property and casualty GWP grow 3.7% in 2014
Allianz Group saw gross written premiums for its property and casualty segment increase 3.7% to €48.32bn in 2014, driven by strong growth in its global insurance lines and the UK business segments.