Company results
Esure sees H1 profits surge over 15%
Personal lines insurer Esure has reported climbing profits for the first six months of 2013, alongside a boosted combined ratio.
Towergate hit by £10m H1 loss after loan fee write-off
Towergate has reported a pre-tax loss of £9.9m for the first six months of 2013, in spite of boosted income and flat operating earnings.
DLG wants commercial book COR to break even in 2014
Direct Line Group is aiming to improve its commercial book combined ratio to 100% in 2014, chief executive Paul Geddes told Post today.
Ageas UK boss Watson optimistic despite limited H1 profit growth
Ageas UK chief executive Andy Watson has told Post the insurer’s H1 results are in line with expectations, in spite of net profit growth almost entirely driven by the integration of Groupama.
Allianz posts 95.7% combined ratio for H1
Allianz achieved a combined ratio of 95.7% for the first half of 2013, down from 96.8% in the first six months of 2012.
Axa hails first half growth
For the first half, Axa has reported property & casualty revenues were up 2% to €16.5bn, mainly driven by an overall positive price effect of 3% on average. Overall total revenues were up 4% to €50bn across the group.
Direct Line posts 94.6% COR in H1 after lower weather claims and expenses
Direct Line Group achieved a combined operating ratio of 94.6% for the first six months of 2013, an improvement of 6.5 percentage points on the same period in 2012.
Ageas increases profit despite underwriting losses
Ageas has increased its bottom line by 17.3% during the first half of 2013 despite household being the only core line of business making an underwriting profit.
Axa's P&C revenues remain flat in H1
Axa UK and Ireland reported a 33% rise in underlying earnings for the first six months of 2013 to £89m, compared with £66m in the first half of 2012.
Lloyds credits dry 2013 for 11pp COR improvement
Lloyds Banking Group’s general insurance business has attributed a reduction in weather related claims during the first half of the year for an improvement of 11 percentage points in its combined operating ratio.
RSA's Brown says underlying result not as 'impressive' as headline figures
RSA’s improved commercial lines results are “overstated” according to UK and Western Europe chief executive Adrian Brown, who downplayed the results.
Money Supermarket revenues grow by 10% in H1
Money Supermarket’s group revenue increased by 10% to £112.3m in the first half of 2013 up from £102.2m in the first half of 2012.
Besso pre-tax profits climb 52%
Lloyd’s broker Besso has seen its pre-tax profits climb 52% in the year ending 31 December 2012.
Generali net profit hits €1.08bn after strong P&C performance
Italian insurer Generali recorded a 28% rise in first half net profit to €1.08bn as the firm continued its restructuring programme.
Generali net profit hits €1.08bn after strong P&C performance
Generali recorded a 28% rise in first half net profit to €1.08bn following its restructuring programme.
Brit posts improved COR of 86%
Brit Insurance has reported a combined operating ratio of 86% for the first half of 2013 – an improvement from 92.8% in 2012.
RSA posts 24% rise in H1 profit
RSA booked profit before tax of £250m for the first half of 2013, a 14% increase on the same period in 2012, while post tax profit was up 24% at £190m.
RSA grows premiums 20% in Asia
RSA grew its Asian premiums by 20% in the first half of 2013 compared to the same period last year.
Job cuts not primary source of savings drive claims JLT
Jardine Lloyd Thompson senior executives have denied that the predicted £12m annual savings from its business transformation programme will come primarily from job cuts.
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JLT's H1 revenue rises 10% after strong organic growth
Broker JLT posted total revenues up 10% to £487.2m for the first six months of 2013, boosted by strong organic revenue growth of 7%.
O’Roarke forecasts “barely acceptable” LV returns for 2013
LV’s managing director of general insurance John O’Roarke has said a combination of low investment return and falling premiums means the firm will struggle to hit targets for return on equity in 2013.
Benign cat year and subrogation help Hiscox’s profits soar
Hiscox UK’s chief executive Bronek Masojada has attributed the insurer’s record £34m profit before tax to an absence of natural catastrophes.
LV posts reduced H1 profit amid "weakening motor rates"
LV posted an operating profit of £43m for the first six months of 2013, down from £62m in the first half of 2012.