Company results
Generali successfully closes subordinated bond for €1.25bn
Generali has closed a subordinated bond issue targeting institutional investors for a total of €1.25bn.
Skuld posts underwriting deficit after rise in pool claims
Norwegian marine insurer Skuld posted a third-quarter bottom line deficit of $2.9m today following record claims costs from the international group's pooling system.
Skuld claims costs soar as a result of international pooling system
Marine insurance provider Skuld chalked up record high claims costs from the international group's pooling system, leading to a bottom line deficit of $2.9m (£1.8m) with corresponding contingency reserves of $288m (£178.9m).
Jelf profit rises 23.5% to £3.5m
Jelf has reported a 1.3% rise in revenue to £73.0m (2011: £72.1m) while Ebitdae increased by 11.6% to £11.3m (2011: £10.1m) in the year ending 30 September 2012.
Hong Kong insurers see 10% premium rise in first nine months
Hong Kong's insurance industry posted a 10% increase in gross premiums in the first three quarters of 2012, to reach $190.1bn, figures published by the Office of the Commissioner of Insurance showed.
Vienna Insurance profits up 7% in first nine months
Vienna Insurance Group has posted a 7% increase in group profit before taxes to €443.2m, in the first three quarters, driven by strong growth in Central and Eastern Europe.
S&P: Sandy to hit earnings not capital
Superstorm Sandy is likely to be an earnings rather than a capital event for affected insurers and reinsurers, according to rating agency Standard & Poor's.
Non-life premiums in Vietnam reach VND17tn in first nine months
Non-life insurers in Vietnam achieved premiums of more than VND17tn in the first nine months of 2012, up 11.3% from the same period last year.
Charles Taylor cements solid profits in bid to drive down group debt
International professional services provider Charles Taylor released an interim management statement this morning, reaffirming a commitment to implement its run-off strategy by acquiring offshore life insurers in run-off.
Talanx profit up 83% in first nine months
Talanx posted an 83% increase in operating profit to €1.3bn in its first results since its initial public offering, assisted by high investment income.
Kiln syndicate 510 forecast to make 2011 profit
R J Kiln & Co has released updated forecasts for the 2010 and 2011 years of account for its four non-aligned syndicates as at 30 September 2012.
Zurich says German write-down is "isolated case" as BOP falls 34%
Zurich Insurance Group posted business operating profit of $733m for the third quarter, down 34% on the prior year after financial adjustments in its German general insurance portfolio.
Zurich UK results dented by 'exceptionally large' commercial claim
Zurich UK general insurance chief executive Steve Lewis has blamed adverse weather conditions for a £15m slump in business operating profit, compared to the nine month stage last year.
PZU plans to pay 100% of profits as dividend
State-owned Polish insurer PZU SA intends to pay 100% of its unconsolidated net profit in dividends if the country's regulator approves, chief executive Andrzej Klesyk said at a press conference Wednesday, according to news agency Dow Jones.
Germany sees premium growth but motor still loss making
German insurers are expected to reap a 1.5% rise in premiums to €180.7bn this year, the head of the industry trade body GDV said on Wednesday.
AM Best offers positive outlook on Markel International
Rating services firm AM Best Europe has affirmed the financial strength rating of 'A' and issuer credit ratings of "A+" of Markel International and Lloyd's Syndicate 3000.
Davies expects Markel full-year results to weather the storm
Markel International finance director Andy Davies is confident that the impact of superstorm Sandy on his firm's full-year results will not halt the momentum achieved in the opening nine months of the year.
Scor attributes £5.7bn GWP to a 'robust' business approach
Global reinsurer Scor delivered a 13% jump in gross written premiums to €7.2bn (£5.7bn) in the first nine months of the year owing to "increased visibility in the industry".
Allianz CEO Torrance blasts 99.1% COR as 'unacceptably poor'
Allianz UK's commercial lines combined operating ratio deteriorated to 99.1% for the first nine months of 2012 from 95.1% in Q3 2011 as the retail non-motor COR worsened to 101.7%.
Catlin sees increase in GWP
Catlin's International underwriting hub saw gross written premiums increase 17% to $727m.
Catlin GWP grows 11% as Sandy-hit New York office remains closed
Catlin reported an 11% increase in gross written premium to $4.08bn in the nine months to 30 September 2012 compared with the same period in 2011 (9m 2011: $3.68bn).
Arig logs profit in Q3
Arig has announced a net profit of $10.3m nine months into 2012.
Asia-Pacific only bright spot in bleak outlook for insurers for 2013
Asia-Pacific and emerging economies are the only bright spots in an otherwise bleak outlook for the insurance sector in 2013.
United India reports 18% rise in GWP and improved COR for H1 2012
United India Insurance Company has reported an 18% rise in gross premium in the half year ended 30 September 2012 at Rs. 4,757 crore against Rs. 4,033 crore in the same period in 2011.