Company results
PostCast - Issue 2 - 15/22 August
The team discuss the news, features and interviews from the 15/22 August edition of Post Magazine. Hosted by Post editor Stephanie Denton.
Zurich sees UK premiums fall £20m in H1
Zurich's UK general insurance business posted gross written premiums of £826m for the first half of 2013, a 2.4% decrease from the £846m reported in the first half of 2012.
Zurich's GI profits and premiums grow in Asia-Pacific
In general insurance, business operating profit at Zurich's Asia-Pacific's operations increased from $101m in the first half of 2012 to $141m in the first half of 2013.
Zurich's results hit by floods in Europe
Zurich has reported a business operating profit of $2.3bn for the first half of the year (till 30 June), down 9% over the same period in 2012, and a net income attributable to shareholders of $1.9bn, down 17%.
Talanx achieves 10% increase in GWP in H1
German insurance giant Talanx Group achieved a 10% increase in gross written premiums in the first half of 2013 to €15bn.
Motor sector cites rates and reforms as COR soars
Motor insurers have bemoaned the impact of rock-bottom rates on their first-half figures, prompting some industry leaders to rule out further rate reductions in the second half of the year.
Editor's comment: Bad gambles see millions dropped
While the average 2.2 million viewers of The Million Pound Drop often urge contestants to take a gamble, they are well aware of one vital rule that it seems some insurers have forgotten: if you are not 100% sure of the answer, the only way to proceed is…
Limited impact from European Floods sees Kiln raise name syndicate forecasts
Kiln has boosted its return on capital forecasts for Lloyd’s names-backed non-life syndicates following strong performance.
Catlin sees pre-tax profits tumble 37% after investment returns plummet
Catlin has seen its first half profits for 2013 scythed by more than one-third following a steep drop in its net investment income.
NCI Vehicle Rescue posts 287% increase in pre-tax profit
NCI Vehicle Rescue has posted a pre-tax profit of £974 486 for full year 2012- 2013, up 287% year on year.
Catlin sees pre-tax profits tumble 37% after investment returns plummet
Catlin has seen its H1 profits scythed by more than a third following a steep drop in its net investment income.
Aviva's CEO commits to Asia
Aviva's CEO Mark Wilson has said the business is "making progress in Asia with a more focused approach concentrating on China and South East Asia."
Kiln hikes name syndicate forecasts
Kiln has boosted its return on capital forecasts for Lloyd’s names-backed non-life syndicates following strong performance.
Aviva preaches 'reallocation' over restructure for 2014
Aviva’s group chief executive has vowed the insurer will seek to retrain and reallocate staff as it seeks to continue making cost savings next year.
Allianz grows profits 34% in Asia
Allianz grew its profits 34% in the first half of 2013 compared to the same period of 2012.
ING’s European IPO draws nearer while profits fall
Dutch financial group ING continues to prepare for the public float of its European insurance business with plans to separate ING US from ING Insurance to speed up its initial public offering.
ING’s European IPO draws nearer while profits fall
Dutch financial group ING continues to prepare for the public float of its European insurance business with plans to separate ING US from ING Insurance to speed up its initial public offering.
Aviva sees “steady progress” in H1 results
Aviva has reported total pre-tax profits of £1bn for the first six months of 2013 up 5% on last year’s figure of £959m, with expenses falling 9%.
Swiss Re P&C arm hit by nat cat losses in Q2 2013 as COR jumps to 100.7%
Swiss Re this morning reported net income of US$786m (Q2 2012: US$83m) in the second quarter of the year on premiums earned of $6.8bn (Q2 2012: US$6.1bn).
Concordia wreck removal to cost $1.1bn says Munich Re
The loss creep for the stricken ship Costa Concordia continues with Munich Re revealing that removal costs for the wreck are likely to exceed $1.1bn.
Planned reductions behind GWP dip at Novae during 'challenging period'
Novae Group has attributed planned reductions in its reinsurance segment for a dip in gross written premium for the first half of the year.
Bupa sees UK insurance customer numbers drop 2.8%
Bupa has revealed that UK insurance customer numbers and revenues dropped in the first half of 2013.
Motor market re-entry to take place in H2 as L&G eyes M&A opportunities
Legal & General’s insurance director has reiterated his intention to initially re-enter the motor market as a distributor and to also consider potential acquisition opportunities.
L&G reveals dramatic COR improvement
Legal & General has recorded a general insurance combined operating ratio of 81% for the first half of 2013 – an improvement from 99% year-on-year.