Company results
Direct Line posts improved COR of 95.4%
Direct Line has achieved a combined operating ratio of 95.4% for the first nine months of 2013, a 4.3% improvement from the 99.7% posted for the same period in 2012.
XL COR improves to 92.2%
XL’s property and casualty combined operating ratio has improved to 92.2% in the first nine months of 2013, from the 92.7% reported for the same period in 2012.
Gallagher sees Q3 group broker revenue climb 14%
Arthur J Gallagher revealed Q3 group brokerage revenues climbed 14% in figures filed with the US Securities and Exchange Commission yesterday.
Mapfre net income rises 4.3% in first nine months
Spanish insurer Mapre posted net income of €683.9m for the first nine months of 2013, a 4.3% increase on the previous year’s total.
Giles acquisition to be completed in November
Arthur J Gallagher will complete the Giles acquisition in early November, after originally anticipating the £233m deal could be completed this month.
Willis reports $27m net loss
Willis Group has posted a total net loss of $27m (£16.83m) for the third quarter of 2013, cutting the broker's profit by 17% for the first nine month of the year.
Motor Insurance: Jumping the gun
Motor insurers’ over-eagerness to reap the anticipated benefits of the Legal Aid, Sentencing and Punishment of Offenders Act has resulted in a sharp drop in rates. With unprofitability increasing, where does the sector go from here?
LV CEO predicting motor rates recovery as GWP continues to fall
LV group chief executive Mike Rogers has blamed falling motor premiums for a £20m drop in the firm’s general insurance gross written premium total for the opening nine months of the year.
Ping An's profits more than double in Q3
Insurance and banking group Ping An saw a 115% increase in profits in the third quarter of 2013.
Aon increases profit and revenue in Q3
Aon has reported organic revenue growth of 3% with total revenue of $2.8bn (£1.7bn) in quarter three of 2013.
Aon records profit and revenue growth in Q3
Aon has reported organic revenue growth of 3% with total revenue of $2.8bn (£1.7bn) in quarter three of 2013.
BP Marsh reports £1.4m profit after Hyperion sale
Venture capital provider and former Hyperion investor BP Marsh has reported profit after tax of £1.4m for the six months to July 2013, down from the £2.2m reported for the same period last year.
Brokers Link sheds not-for-profit status
Independent broker network BrokersLink has unveiled plans to change its constitution from a not-for-profit association to a for-profit global broking company in a bid to accelerate growth.
Agencyport counts Lloyd’s as key revenue contributor
Software firm Agencyport has cited the Lloyd’s and London market as the key contributor to its 2012 revenue with 50% of its income coming from that sector.
Post Intelligence – company profile: Towergate Partnership
Towergate says it will continue its aggressive acquisition strategy (FY12: 27 acquisition; 1H13: 10) focused on networks, retail and underwriting. The challenge is to turnaround falling operating earnings in the retail business.
Post Intelligence – company profile: Arthur J. Gallagher & Co.
With an increasing focus on international growth, AJ Gallagher has completed a record 60 acquisitions in 2012 across all business lines with annualised revenues of $232m.
Post Intelligence – company profile: Aviva plc
Following a loss of £3bn last year, Aviva has identified 43 businesses that are performing under par.
Post Intelligence – company profile: Direct Line Insurance Group plc
Compared to an operating loss of £375m in FY10, Direct Line returned an operating profit in 1H13 of £287m, up 28% year-on-year.
Post Intelligence – company profile: Esure Group
As part of its strategy to diversify its earnings, Esure Group is working to expand its home, broker and additional service offerings.
Post Intelligence – company profile: Munich Re
Munich Re continues to expand its primary insurance business, ERGO, in Asia and Eastern Europe.
Post Intelligence – company profile: Admiral Group plc
Following a difficult time with motor insurance, Admiral Group issued a profit warning in FY12.
Post Intelligence – company profile: AIG
In four years, AIG has repaid $182bn of bailout funds through intensive disposal of assets.
Post Intelligence – company profile: RSA Insurance Group plc
RSA has a target to double premiums from emerging markets through actions including bolt-on acquisitions.
Cunningham Lindsey grows pre-tax profits 40% in 2012
Loss adjuster Cunningham Lindsey has reported steeply rising pre-tax profit for the year ending December 31 2012, hitting a total of £13.6m for the twelve months.