Company results
Allianz 'bang on' for revenue goals despite Q1 results: Dye
Allianz UK chief executive Jon Dye told Post the firm was "absolutely overall where we want to be" despite a 46% fall pre-tax profits to £24.7m for the first quarter of 2014.
Storms may not hit full year figures, says Ageas’ Watson
The surges of winter storm and flood claims which drove Ageas into reporting a Q1 loss this morning may be immaterial to full year results according to UK chief executive Andy Watson.
Allianz pre-tax profits halved to £24.7m by weather losses
Allianz UK has seen its Q1 performance hit by weather losses but maintained a positive result, reporting a pre-tax profit of £24.7m, down 47% from £46.8m in 2013.
Admiral grows customer base but turnover droops
Admiral has reported an expanded number of total group customers at the end of Q1, but noted that group turnover has fallen by 7% to £514m (2013 Q1: £551m)
Storms push Ageas to £4.6m Q1 loss
Storm and flood losses damaged Ageas’ financial performance in Q1, with the insurer swinging to a £4.6m loss.
Catlin's GWP increased 9.3% in first quarter
Gross written premiums at insurer Catlin climbed 9.3% in the first quarter of 2014 to $2.01bn compared to $1.84bn in Q1 2013.
Bexhill records 10% increase in lending
Premium finance provider Bexhill has reported a nearly 10% increase in lending on the same period last year.
Ten sees 20% GWP increase for Q1
Ten Insurance has reported Q1 gross written premiums of £6.4m - a 20% increase on the same period last year.
Brit chalks up marginal GWP growth in Q1
Growth of 8.2% within Brit’s direct business contributed to group-wide gross written premium of £336.5m in the opening three months of the year (Q1 2013: £332.6m).
Jelf sees 14.6% increase in insurance business revenue
Broker Jelf has reported a 14.6% increase in revenue for its insurance business to £26.8m (2013: £23.4m) for the six months ending 31 March 2014.
Southern Rock reports £8.7m profits for 2013
Southern Rock Insurance has announced post-tax profits of £8.7m for the year ended 31 December 2013 attributing its move away from Brightside as a factor in improving the company's performance.
Alterra deal boosts Markel International premium income by 40% in Q1
Markel International president and chief executive William Stovin has attributed last year’s acquisition of Alterra as the driving force behind a 40% increase in premium income to $414m (£244m) in the first quarter of 2014.
Brightside agrees to £127m acquisition by AnaCap company
Brightside has agreed to a £127m acquisition by a newly incorporated company indirectly owned by private equity firm AnaCap Financial Partners.
Beazley's posts $2m fall in GWP for Q1
Beazley posted gross written premium of $516m (£304m) for the first quarter of 2014, down from $518m in the first three months of 2013.
RSA sees NWP fall 4% in first quarter
RSA saw underlying net written premiums fall 4% in the first three months of 2014 as the effects of its portfolio action plan and a more disciplined underwriting approach across all regions took hold.
Munich Re's Q1 2014 profit falls 5%; April pricing weakens 8%
Profits fell 5% in the first quarter at global reinsurer Munich Re and April renewal prices declined 8%.
L&G points to direct sales growth in Q1 despite 2% fall in GWP
Legal & General has attributed disciplined pricing for a 2% drop in gross written premium of £84m in the first quarter of 2014 compared to £86m in the same period last year.
Swiss Re posts net income of $1.2bn for Q1
Swiss Re reported net income of $1.2bn (£707m) for the first three months of 2014, aided by benign natural catastrophe experience during the quarter.
Marsh records 5% Q1 revenue increase
Broker Marsh has reported a 5% increase in revenue for Q1 2014 up to $1.45bn (£854m) from $1.38bn in 2013.
Disaster losses of $262m impact AIG profit in Q1
AIG has attributed catastrophe losses within its property and casualty businesses as a major factor in a 27% drop in profit to $1.6bn (£945m) in the first quarter of 2014 compared to $2.2bn in Q1 2013.
Hiscox grows GWP by 2.3% in Q1
Hiscox grew gross written premiums by 2.3% in local currency, with a small decrease in sterling to £501.6m (2013: £506.1m) in the first quarter of 2014, as it continued to shrink its reinsurance book.
DLG points to competitive conditions after GWP drop in Q1
Direct Line Group has attributed competitive market conditions in UK personal lines for a 5.1% slide in gross written premium in the first quarter of the year compared with Q1 2013.
Lloyd's presence adds 50% to Lancashire GWP in Q1 as new CEO steps up
Lancashire Holdings recorded a combined operating ratio of 66.4% in the first quarter of 2014 (Q1 2013: 51.2%) as no major losses were added to a late reported energy claim that adversely impacted the firm’s full year results.
Hodges defends merits of network model following 2013 earnings slump
Towergate boss Mark Hodges has denied appetite for networks is dwindling and has tipped his own network division to bounce back this year in the wake of an almost 50% decline in earnings in 2013.