Company results
DLG boss expects reforms to prompt limited benefit in tough market
Direct Line Group chief executive Paul Geddes has vowed to adopt a conservative outlook on legal reform within the motor market and has suggested financial gains will be enjoyed by consumers as opposed to insurers.
Mapfre's Q1 revenue boosted by international business
Spain’s Mapfre increased its first quarter revenues by 1.6% to reach €6,942m, driven mainly by the international business.
AIG targets London market as it reveals its 2012 results
AIG UK is past its crisis and ready to hit the London market hard, according to its UK managing director Nicolas Aubert.
Competitive motor market sees GWP at DLG slide 4.5%
Tough market conditions have been identified as the root cause behind a 4.5% slump in the Direct Line Group’s gross written premium for ongoing operations in the first quarter of 2013.
Swiss Re "on target" after $1.4bn Q1 net income
Swiss Re is “on track to achieve its financial targets” after posting net income of $1.4bn for the first quarter, up 21% on the prior year period.
Swiss Re Q1 income jumps 21%
Swiss Re is “on track to achieve its financial targets” after posting net income of $1.4bn for the first quarter, up 21% on the prior year period.
DLG forecast to lose UK motor market share at Q1
Direct Line Group could see its share of the UK motor market diminished in its first quarter results on Friday, according to an analyst note.
L&G chalks up 4% GWP increase amid record gains
Legal and General’s general insurance business achieved gross written premium growth of £86m, up 4% on the first quarter of last year (£83m).
Lancashire CEO Brindle admits Aon/Berkshire deal concerns as it unveils $77.9m Q1 profit
Lancashire Holdings this morning reported a jump in pre-tax profit and post tax profit for the first quarter of 2013 to $78.9m (Q1 2012: $46.5m) and $ 77.9m (Q1 $45.6m) respectively.
RSA records stunted UK growth in Q1 despite commercial 'progress'
RSA'S UK business posted stagnant growth for the opening three months of the year, with net written premiums recorded at £726m (Q1 2012: £725m).
Asia helps spur RSA premium growth
RSA saw net written premiums rise 5% in the first quarter of 2013 including a 16% rise across Asia, South America, Eastern Europe and the Middle East (combined) and 18% in Canada.
Markel records COR boost
Markel Corporation has announced a 9% improvement in its combined operating ratio for the first quarter of 2013.
Turnover on the rise as Allianz GA rebalances worldwide reach
Allianz Global Assistance has recorded a 9% rise in growth in global turnover last year, exceeding the proclaimed objective of €2.2bn (£1.9bn).
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Planned reductions results in Q1 GWP shrinkage at Novae
Novae Group chief executive Matthew Fosh has described the first three months of the year as “a solid start”, despite seeing his firm’s gross written premium shrink to £184.6m (Q1 2012: £231.1m)
DAS targets post-Laspo landscape following 2012 GWP growth
The DAS UK Group increased gross written premium by 10.5% last year, while returning a profit of over £11m before reinsurance and tax.
United India Insurance profits up 36%
United India Insurance saw profits grow 36% for the fiscal year ending 31 March 2013.
Admiral reports 9% fall in UK turnover
Admiral chief executive Henry Engelhardt has said that now "is not the right time to grow" its market share in the UK after turnover fell 9% to £470m (Q1 2012: £518m) in the first quarter of this year.
Analysts bullish on Tryg's Q1 prospects
Analysts at Berenberg Bank have said they expect Nordic insurer Tryg to post a combined ratio of 91.1% for the first quarter, on the back of benign winter weather across Scandinavia and favourable investment markets.
Travelers Q1 figures show upturn for US P&C business
Positive results at property casualty insurer Travellers reflect an upturn in the US market according to a Westhouse insurance analyst.
Moody’s downgrades Towergate after patchy 2012 financial results
Towergate’s financial results for 2012 have revealed vastly divergent performances among its four main insurance divisions, ranging from a 24% year-on-year drop in earnings in its network arm to a 17% rise in underwriting earnings.
Towergate hit with Moody's downgrade
Moody's has cited "significant" levels of debt and limited earnings as the reasons behind its downgrade of Towergate, following publication of the consolidator's results.
Hodges upbeat about network future
Towergate chief executive Mark Hodges said he is confident that the firm’s network division can create an “incredible service offering for brokers” despite a 24% drop in its operating earnings in 2012 to £10m (2011: £13.1m).
Towergate shrinks full year losses to £6m
Towergate has improved its figures for the year ending 31 December, declaring a pre-tax loss of £6.1m, despite worsening performance from its network division.