Company results
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.
Willis profits rise in Q1 despite 'disappointing' global performance
Willis Group chalked up a 4.4% increase in revenues of $1.1bn (£652.5m) in the first quarter of 2013 alongside a rise in profit of $246m (Q1 2013: $219m).
Towergate earnings slide 7% in 2013 as pre-tax losses hit £41m
Towergate saw its operating earnings drop 7% to £144.9m last year (2012: £156.2m) as profit within the consolidator’s Broker Network division plummeted 42%, with underwriting, Paymentshield and insurance brokers all contributing to the fall.
Video: Aviva Broking Team Q&A
Ahead of the British Insurance Brokers’ Association conference in Manchester editor Stephanie Denton spoke to Aviva's broking management team of Phil Bayles, Gareth Hemmings and Fraser Edmond to find out what the big issues facing brokers are and how…
LV Q1 GWP slumps despite climbing policy numbers
Reductions in LV’s motor book have seen the insurer record increased policy numbers but falling gross written premium for Q1 on a year-on-year basis.
Aon Q1 broking income rises 10%
Broking giant Aon has seen global first quarter broking income rise 10% on a year-on-year basis, rising from $403m (£240m) to $445m.
Covéa posts £15m profit for 2013 but sees GWP shrink 17%
Covéa Insurance posted a technical account profit of £15m for 2013, its first full year results since the merger of the MMA Insurance, Provident Insurance and Gateway Insurance businesses.
Money Supermarket insurance prospects boosted by Google deal
Money Supermarket has said that it expects insurance comparison revenue to improve after resolving a dispute with Google on search listings.
Catastrophes 'manageable' as global reinsurers post solid profits
Global reinsurers posted solid underwriting gains in 2013, as catastrophe-related losses were manageable and loss reserve development remained favorable, according to Fitch.
R&Q: active syndicate will hinder 2014 results
Randall and Quilter chief executive Ken Randall has told Post he does not expect to see the firm’s active syndicate boosting figures until 2015.
R&Q pre-tax profits down 17% after ‘weak’ active syndicate results
Randall and Quilter has seen its pre-tax profits slide by almost a fifth, falling from £11.6m to £9.6m after the firm recorded weaker than expected results from active syndicate participations.
2013 motor results 'best since 2006'
Motor insurance results for last year represent the sector’s best underwriting performance since 2006 according to a study by EY.
Co-op insurance profits up ten-fold despite 'disastrous' year
The Co-operative has seen insurance profits leap upwards in 2013, with the mutual attributing the boosted results to improved claims experience and strong performance of its home portfolio.
Quindell signs deal as Ebitda rises
Quindell has reported gross sales of almost £163m in the first quarter of 2014, as its subsidiary 360 Globalnet has agreed two five-year property claims deals worth £20m with an unnamed direct UK insurer.
Hastings boss positive on motor market after increasing rates
Hastings chief executive Gary Hoffman believes 2014 could be the year the motor market finally turns, after revealing that his firm has begun increasing motor rates.
Co-op adamant sale uncertainty did not hurt business
Senior insurance bosses at Co-operative Insurance claim uncertainty around the sale of the business did not impact momentum within the company last year.
Sabre sees profits leap as GWP decreases by £10m
Motor insurer Sabre recorded a post-tax profit of £43.4m in 2013; an increase on its 2012 result of £29.7m.
Giles deal costs AJG $4.2m in expenses
Integration expenses related to the Giles acquisition cost Arthur J Gallagher $4.2m (£2.5m), according to the global broker’s 2014 Q1 results.
RK Harrison sees 44% boost to 2012/3 pre-tax operating profits
RK Harrison has recorded a substantial year-on-year jump in pre-tax operating profits for the year ended 30 June 2013, with figures leaping from £15.8m to £23.7m.