Company results
Ping An Group sees 9.4% growth in net profit
Ping An Insurance Company of China has maintained growth above the industry average amid complex economic and market environment for the first half of 2012.
Middle East Insurance Company achieves rating of 'B++'
Middle East Insurance Company has had its financial strength rating of B++ (Good) and the issuer credit rating of “bbb”, with stable outlooks.
Co-op goes for growth in household sector
Co-operative Insurance director of general insurance David Neave said the firm has written a higher volume of home insurance policies compared to motor policies this year so far in a bid to “redress the balance” within its personal lines portfolio.
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13% growth in CEE helps VIG Group profit grow 7%
The Vienna Insurance Group has posted a 7% increase in profit for the first half of 2012 compared to 2011, helped by a 13% growth in profit from Central and Eastern Europe.
CNinsure moves to e-commerce as H1 costs rise by 32%
Chinese intermediary CNinsure Inc is changing its long-term strategy to include a focus on e-commerce after its half year results saw costs grow by 32.1%.
Bangkok Insurance to sell products in Laos and Cambodia
Bangkok Insurance has confirmed plans to sell its products in Laos and Cambodia in preparation for the region's economic integration in 2015.
China to expand investment options for insurers
The China Insurance Regulatory Commission is expected to announce policies to improve the competitiveness of insurers through an expansion of their permitted scope of investment.
Ecclesiastical CEO upbeat despite significant H1 underwriting losses
Ecclesiastical chief executive Michael Tripp has blamed “turbulent times” after his group chalked up a first half underwriting loss of £14.4m (H1 2011 £6m).
Hyperion boosts BP Marsh cash position
The partial realisation of its investment in Hyperion has improved BP Marsh & Partners’ cash position according to a trading update issued today by the venture capital provider.
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China's PICC sees 23.6% rise in profit thanks to motor
China's state-owned PICC Property and Casualty Co has posted a 23.6% rise in net profit for the first six months of the year.
Swedish insurer on cusp of record private equity sale
Swedish insurance group Länsförsäkringar is close to selling a €1.5bn portfolio of private equity interests, which if completed would be one of the largest divestments by a European institution.
Amlin reports leap in H1 profit to £184.5m
Amlin has reported profit before tax of £184.5m in the first half of this year compared to a loss of £192.3m in the first half of 2011.
QBE records 26% increase in insurance profit in H1 2012
QBE Insurance Group made an insurance profit of $965m for the first half of the year ended June 2012, an increase of $203m on 2011.
Oval GWP jumps to £391m after 'substantial growth and contract wins'
Oval Insurance Brokers has posted a gross profit of £90m for the year ended 31 May 2012, a £4.7m increase on last year.
Hiscox entities upgraded to 'A+'
Hiscox Group's core entities insurer financial strength ratings have been upgraded to 'A+' from 'A'.
Zurich UK records 26% profit dip as COR also deteriorates
Zurich has blamed a volatile market after its UK operation's business operating profit suffered at the hands of summer floods, causing a 26% drop on H1 2011 to £52m.
Zurich sees decline in European GI profit as pension and commission expenses bite
Zurich Insurance has reported a business operating profit of $2.5bn for the six months ended 30 June 2012, up 17% on 2011.
Zurich CEO Senn attributes rising profits to 'working' global strategy
Zurich group chief executive Martin Senn has described the firm’s international half year business operating profit of $2.5bn (£1.6bn) as being testament to a functional global strategy.
'We've stopped the rot', says Oval CEO Blanc ahead of results
Oval Insurance Brokers will report a 6% boost in gross sales and a "headline profitability" of £15m when it publishes its results for the year ending May 2012 later this week.
Groupama achieves record 20% rise in profits for H1
Groupama has recorded a 20% rise in profits before tax for the first six months of 2012 to £22.2m.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.