Company results
Allanfield eyes deals as operating profit hits £1m
Allanfield has its eye on acquisitions in the property and broking spaces having reported a 33.5% increase in net revenue to £2.1m (H1 2011: £1.6m) in the first half of the year.
Reinsurers showing resilience under weight of catastrophes
The top 50 global reinsurers' financial positions coming out of 2011 shows the sector's resilience through one of the costliest catastrophe years in history, according to a report by AM Best.
R&Q reports 56% rise in profit
Randall & Quilter has reported a 56% increase in profit before tax to £4.6m in the first half of 2012 compared with the same period last year(H1 2011: £3.0m).
Direct Line Group posts 7% profit increase in first results as standalone
As the deadline for Direct Line Group's anticipated flotation approaches, the insurance business posted a 7% jump in operating profit to £224.2m for the first six months of the year and revealed it has set a target of 15% return on tangible equity.
Esure profit up despite £8m flood loss
Esure has reported £60.2m in operating profit in the six months ended 30 June 2012 (H1 2011: £41.3m) and improvements to its loss ratio and combined operating ratio, despite the June floods adding £8m losses and 3.4% to the COR.
Canopius bounces back with 87% COR and £33m shareholder profit
Specialist insurer Canopius has posted an improved combined operating ratio of 87% for the first six months of the year, 38% better than last year.
Quindell to support substantial growth with further outsourcing deals
Quindell chief executive Rob Terry is targeting bottom line growth of up to 25% over each of the next five years, after his firm increased revenue from £1.8m last year to £45.6m in the first half of 2012.
Helvetia posts reduced profit for H1
Swiss insurer Helvetia posted profit of CHF162.7m (€135.4m) for the first half of 2012, down from CHF171.5m in the first half of 2011.
DLG 'essentially' operating as a standalone business, claims Geddes
Direct Line Group chief executive Paul Geddes believes the business has "essentially achieved its goal" of operating as a standalone company, following the news it has set a return on tangible equity target of 15%.
Charles Taylor sets timetable to boost international adjusting proposition
Charles Taylor Company has confirmed plans to enter the Latin America loss adjusting market before the end of 2012, just weeks after buying a majority stake in Saudi Arabia claims handling business Noble Inspection and Loss Adjusting.
Houghton to leave Broker Network
Nick Houghton has resigned from the role of managing director at Broker Network, according to Insurance Age.
China Taiping posts drop in H1 net profit
China Taiping Insurance Holdings posted reduced net profit of HK$536.67m for the first half of 2012, down from HK$792.4 in the previous year.
Charles Taylor posts rise in revenue for H1
Loss adjusting firm Charles Taylor reported an increase in revenue to £53.2m (H1 2011: £2.6m) in the first half of 2012.
Charles Taylor revenue strong and steady at £53m despite 'subdued' claims environment
Insurance business Charles Taylor Company delivered a stable performance during the first half of the year, with a flat revenue of £53m (2011:£49.3m), thought to be due in part to a series of one-off charges and a "subdued" energy claims environment.
Hodges: £90m M&A pot half spent but always replenished
Towergate has no intention of easing off from merger and acquisition activity as it ploughs ahead with a plan to grow its top and bottom lines over the next two years.
Admiral's international arms report £8.9m loss in 1H 2012
Admiral's international insurance business has reported significant growth in turnover and total premiums written in the first half of 2012 to £79.7m and £74.4m respectively (H1: 2012 £53.9m and £49.5m).
Uniqa posts earnings up 43.2%
The Uniqa Group has posted first-half earnings before tax up 43.2% to €106.5m (2011: €74.4m).
Knock-on effect of referral fee ban not an issue for Admiral CEO
Admiral chief executive Henry Engelhardt has brushed aside fears that future legislative changes relating to the ban on referral fees could take its toll on his firm's UK balance sheet.
TMNF has superior rating as key earning source for Tokio Marine
Tokio Marine and Nichido Fire (Japan) has had its financial strength rating affirmed at A++ (Superior) and issuer credit rating at aa+.
Admiral to slow UK growth despite 9% rise in profit
Admiral's pre-tax profit rose to £171.8m in the first half of 2012 (H1 2011: £160.6m) having increased the number of vehicles insured by 11%, or 350 000, to 3.5 million.
Carole Nash CEO pleased to defy "tough" 2011 with slight turnover growth
Carole Nash chalked up a modest increase in pre-tax profits to £5.93m last year (FY 2010: £5.86m), as turnover grew by just over £1m to £25.02m.
Towergate posts 5% rise in operating earnings on H1 loss of £25m, as Network division suffers
Towergate Insurance has reported operating earnings of £80.6m (HI 2011: £76.7m) for the first half of the year to 30 June 2012, with a loss before tax narrowing slightly on the same period last year to £25.5m (£25.1m), as its four divisions revealed…
Mild Q1 weather blamed for RIIG loss
Resources in Insurance Group has blamed unusually mild weather conditions in the first quarter of the year for a loss of £696 581 in the first six months of this year.
Strong risk-adjusted capital sees Abu Dhabi rating at A (Excellent)
Abu Dhabi National Insurance Company has had its financial strength rating confirmed at A (Excellent) and issuer credit rating of “a”. The outlook for both ratings remains stable.