Company results
'Fully-valued' RSA on course for 95% COR
A poor claims experience on RSA's Motability book will see the insurer pushing for "significant rate increases" as it renegotiates the three-year contract this year.
Lewis calls for rate action after Zurich commercial lines manages 6% rise in 2012
Zurich general insurance chief executive Stephen Lewis has defended his firm's "sound underlying core" performance after operating profit fell by 46% in 2012.
Zurich UK GI operating profit slides 46%
Zurich has blamed a major increase in large commercial losses and pension charges on a 46% slump in business operating profit to £85.3m in its UK general insurance operation in 2012.
Catlin full-year results “a mixed bag”
Specialty insurer Catlin’s results for the calendar year of 2012 represented a “mixed bag” according to Shore Capital Eamonn Flanagan.
Zurich GI profit falls after Sandy and German 'system error'
Operating profit in Zurich's general insurance business dropped by $150m to $2.1bn year-on-year in 2012 after above average catastrophe and weather-related losses offset gains made through tighter underwriting discipline and expense management.
Crawford records Sandy-boosted $52.6m profit for 2012
Loss adjuster Crawford has seen profits climb off the back of a strong fourth quarter for the year ending December 31.
Insurers’ profits decline by £19bn from pre-crash high
General insurers saw a £19bn profit fall in 2011 from a pre-crash industry high in 2007, PWC research found.
Green Flag catches investors' eye
The appeal to investors of breakdown business Green Flag could provide its parent company Direct Line Group with "significant future flexibility" according to Investec Securities.
Willis reveals $446m net loss
Global broker Willis recorded a net loss of $446m for the 2012 financial year, in stark contrast to the previous year’s $203m profits.
Steady growth at Marsh and Guy Carpenter
Marsh and Guy Carpenter have both seen revenues increase for the year ending 31 December.
Aviva "delivering on promise" to strengthen cost base
Aviva should be viewed as a "strong restructuring story" given most of the "heavy lifting" to improve its cost base has been completed through the disposal of underperforming business units, according to equity analysts Panmure Gordon.
Willis reports $446m 2012 net loss
Willis group has posted a total net loss of $446m for the year ending December 31 2012, a significant swing on last year’s result of $203m profits, alongside plans to cut 200 jobs.
Novae in recovery mode following positive trading update
Novae is in "recovery mode" having "turned a corner" by improving its profitability and return on equity according to Westhouse Securities.
RFIB boss looks to the future after overseeing 9% turnover growth
International Lloyd’s broker RFIB Holdings chief executive Jonathan Turnball believes a 9% increase in group turnover to £47.5m last year will serve as a launch pad for further growth in 2013.
Superstom Sandy strikes Aspen results
Aspen Insurance Holdings reported a combined ratio of 108.0% or 72.0% excluding catastrophes, pre-tax and net of reinsurance and reinstatements, for the fourth quarter of 2012 compared with a combined ratio of 114.3% or 85.9% excluding catastrophes for…
Catlin strategy results in growing non-UK GWP contribution in 2012
Catlin recorded a 12.6% improvement in its combined operating ratio for 2012, in a year in which 49% of the firm’s total annual gross written premium of $4.97bn (£3.16bn) was produced by non-London/UK hubs.
Argo is back in profit in 2012 despite $47.9m superstorm Sandy hit
International specialty insurer and reinsurer Argo has reported post-tax income of $52.3m for the year ending 31 December, recovering from a loss of $81.9m in 2011.
Scor sees 48% growth in Asian treaty business at January renewals
During the January renewals, Scor Global P&C has reported a 9% increase in gross written premiums (to Euro 2.507bn) with an expected 1.3% improvement in technical profitability for total contracts renewed and a price rise of 1.9% net of general inflation.
Beazley CEO downplays M&A interest amid plans for repeat of 2012
Beazley chief executive Andrew Horton has played down the likelihood of acquisitive movement at the specialist insurer in 2013 and is instead aiming for a repeat of the previous year in terms of growth.
Beazley more than triples net profits
Beazley has reported soaring post-tax profits, seeing figures rise over three fold on last year’s totals.
Markel notches up substantial COR improvement across the board
Markel International’s combined operating ratio plummeted below the break even line for 2012 after the operation recorded a COR of 88%, down 28% on the previous 12 months.
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
GWP up 30% at Rural
Rural Insurance has reported gross written premiums of £27.5m – a year-on-year increase of 30%.