Company results
Amlin GWP climbs 4.2% for YTD
Amlin has recorded a 4.2% increase in gross written premium to £2.29bn for the nine months ended 30 September (9M 2013: £2.20bn), despite a year-on-year drop in the firm’s UK quarterly GWP from £269.6m to £257.4m.
Blog: Five Quindell headlines that should have rung alarm bells
Following the news today that Quindell founder and chairman Rob Terry has resigned from the board of directors with immediate effect, Post lists five recent headlines that spelt trouble for the firm.
R&Q expects full year pre-tax result to be below expectations
Lower than anticipated investment income and a “disappointing” trading performance in the US have contributed to Randall & Quilter predicting its full year pre-tax result will be materially below market expectations.
Large losses below expectations at Catlin despite aviation disasters
Catlin has achieved third quarter gross written premium growth in line with its business strategy after chalking up a GWP rise of 11% to $4.89bn (£3.1bn) (Q3 2013: $4.42bn) for the period.
Charles Taylor unhampered by large claims drought
Charles Taylor has reported performance in line with expectations, in spite of a drop off in numbers of large commercial losses.
Brit shrugs off 'variable' market conditions after chalking up 4.9% GWP rise
Brit CEO Mark Cloutier is confident his firm will continue to deliver “healthy returns” for shareholders after the Lloyd’s insurer unveiled a 4.9% increase in gross written premium to £990.7m (Q3 2013: £944m) in the third quarter.
Novae delivers 6% GWP increase in Q3 despite property and casualty slump
Lloyd’s insurer Novae Group has chalked up a 6% increase in gross written premium to £515.1m for the period ended 30 September 2014 (Q3 2013: £484.6m), despite recording GWP reductions in its property and casualty businesses.
Personal injury claims on the up in motor as hearing loss claims rise too
Analysts predicting full year squeeze on profitability after Q3 results
Hiscox reports solid Q3 statement with broadly flat GWP
Hiscox has reported a slight dip in gross written premiums of £1.36bn (2013: £1.37bn) for the first nine months of the year to 30 September and claimed a disciplined approach in reinsurance was offset by steady growth in insurance lines.
Dye confident Allianz will return to retail profitability for full year
Allianz UK CEO Jon Dye has stressed that the insurer still plans to return to underwriting profitability for its retail business in its full year results, despite notching a 100.2% combined operating ratio for the first nine months of the year.
Swiss Re deems year-to-date £2.1bn net income 'successful'
Swiss Re has reported net income of $3.3bn (£2.1bn) for the first nine months of 2014 with a third quarter net income of $1.2bn.
Allianz UK nine-month profit down £10m despite GWP improvement
Allianz has reported pre-tax profits down 9% at £117.2m in spite of gross written premiums increasing by £181m.
Admiral Q3 turnover drops despite 10% increase in customer numbers
Admiral has seen group turnover decrease 3% to £513m in spite of a 10% increase in the insurer’s total number of customers, which reached 4.03m in Q3.
RSA continuing UK motor withdrawal
RSA is continuing a drive to shrink its UK motor business, according to UK commercial lines managing director John Hancock, who told Post the insurer is constantly evaluating its pricing strategy.
Beazley premiums remain flat, despite 1% rate reductions
Specialist insurer Beazley has maintained premium levels after the first nine months of the year, despite noting continued pressure of rates.
Zurich UK profits up 19% in first nine months
Zurich’s UK general insurance business posted a 19% increase in business operating profit to £136m for the first three quarters of 2014, compared with £114m for the same period in 2013. Gross written premiums rose 2% on the first three quarters of 2013…
RSA notes ‘weak’ underwriting performance as premiums fall 9%
RSA has noted “weak” overall underwriting performance in Q3, with UK loss ratios coming in at higher than expected levels.
Mapfre sees year-to-date revenues inch up to €19.8bn
Spanish insurer Mapfre has recorded revenues of €19.8bn in the first nine months of 2014, a 1.6% increase on its 2013 result.
Lancashire sees 9M COR deteriorate but dividend still beats analyst expectations
Specialty insurer Lancashire saw its combined ratio deteriorate to to 74.5% for the first nine months of 2014, compared with 69.7% in the first three quarters of 2013.
Esure motor Q3 motor GWP down 9% after rate battles
Esure has reported a year-on-year 8.8% decrease in motor gross written premiums for Q3 as the insurer seeks to secure increased rates from policyholders.
Ageas profits down on 2013 despite improved Q3
A leap in Q3 profits has not proved enough to return Ageas' profits to 2013 levels, as the insurer continues to recover from substantial storm claims in the first quarter of the year.
AIG reports 23% Q3 group post-tax profit leap
AIG's property casualty division has recorded a combined operating ratio of 102% in the third quarter of 2014 alongside a divisional pre-tax operating income of $1.1bn (£687m).
L&G GI quarterly premiums inch beyond £100m for the first time
L&G has reported quarterly general insurance premiums of more than £100m for the first time.
JLT CEO Burke ‘cautious’ despite accelerating US specialty spending
JLT CEO Dominic Burke has expressed caution over the broker’s full year performance, despite announcing plans to step up its spending into newly launched US business JLT Specialty, accelerating previously planned spending into this year.