Company results
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.
Aon Q3 broking revenues inch up 1%
Total revenues for Q3 in Aon’s broking operations have climbed just 1% on a year-on-year basis.
Decline in policy numbers sees 5% GWP drop at DLG
Direct Line Group has seen gross written premiums fall across its motor and home books for the first nine months of 2014 largely attributed to reductions in in-force policies.
Arc Legal reports 12% 2013 revenue growth
Arc Legal Assistance has reported a 12% increase in revenue to £21.5m for 2013.
Aviva reports best UKGI COR result in eight years
Aviva group CEO Mark Wilson has hailed a strong performance from the company's UK general insurance business in announcing its third quarter results, citing the year-to-date 94.1% combined operating ratio as the lowest in eight years.
Gallagher records year-to-date acquisition costs of £25m
Arthur J Gallagher saw a 38% increase in adjusted revenues in its brokerage and risk management segments for the third quarter of 2014 while acquisitions in the year-to-date have cost the US broker $40.6m (£25m).
Willis Group reports £4.3m net loss for Q3 as UK retail grows
Willis Group reported a net loss of $7m (£4.3m) in the third quarter of 2014 as Willis UK retail achieved modest growth for the global broker.
LV's O'Roarke says motor book has shrunk to ‘optimal' level
LV's private motor book has shrunk to near-optimal size, according to general insurance managing director John O'Roarke, who said the firm will continue to seek growth in commercial and household lines.
LV predicts ‘satisfactory' full year results as Q3 GWP declines
LV has reported decreased general insurance gross written premiums for the nine months ended 30 September 2014 in both its direct and broker channels as group CEO Mike Rogers says the insurer is on track to achieve "satisfactory" results at year-end.
Home insurance profitability to end in 2015 says EY
The UK’s home insurance market is set to end a long run of profitability, according to figures from EY.
Quindell boss Terry considers selling units amid struggling share price
Quindell will make moves to sell parts of the business if its share price does not improve after chairman Rob Terry claimed the outsourcer was “four to five times undervalued”.
Quindell set to become billion pound business following Q3 growth
Quindell chairman Rob Terry believes a billion pounds of revenue is within his company’s grasp after delivering £200m of gross sales incorporating a 115% increase on revenue in Q3 to £198m (Q3 2013: £92.1m).
Pre-tax profit up 16% at Arthur J Gallagher (UK) last year
Arthur J Gallagher (UK) has attributed the retention of key clients and the winning of new business for an uptick in full year pre-tax profit to £15.3m in 2013 (FT 2012: £13.2m).
Saga sees pre-tax profits drop as group hit by £50m IPO costs
Pre-tax profit at Saga dropped by £60m in the six months to 31 July 2014 with IPO costs totalling £50.8m.
Helios sees H1 GWP boost through acquisitions
Helios Underwriting has attributed its increase in underwriting capacity to £21.3m for the six months ended 31 June 2014 to the acquisition of three businesses in the period.
Swinton sees 26% 2013 profit drop
High street broker Swinton has reported post-tax profit of £14.1m for 2013, a 26% decrease on its prior year result.
Lloyd's H1 profits leap on back of improved investment income
Lloyd’s saw pre-tax profit rise to £1.67bn in the first half of 2014, up from £1.38bn in the first six months of 2014.
AA posts reduced profit in first results since IPO
AA posted a 1.6% increase in revenue from £484.1m to £491.7m in its maiden half year results following its initial public offering in June.
P&I Clubs face 5% premium increase, claims report
Lloyd's broker Tysers is estimating a 5% premium increase for P&I Clubs after a benign 2013/14.