Company results
Novae posts 6% jump in GWP
Novae has reported a gross written premium of £231.1m in its Q1 results representing a 5.7% increase on last year (2010: £219.7m).
Lloyd's upbeat on prospects after low cats
Lloyd's has reported that a lack of catastrophes in the first quarter has left it on target for the year, and gave a positive outlook for growth.
India's GIC Re considering IPO
General Insurance Corp of India is believed to be considering an initial public offering.
Airline insurance sector soars to first profit in five years
Profitability returned to the aviation and airline manufacturing insurance markets in 2011 following one of the lowest years for losses and passenger fatalities on record, according to Willis’ Aerospace.
RSA expected to beat 95% COR
Deutsche Bank has said it expects RSA to produce a combined ratio of better than 95% when it reports Q1 results this week.
DLG prospectus reveals 2011 COR breakdown
The Direct Line Group has launched a prospectus geared towards tying up its proposed £500m planned subordinated debt issuance, in which it discloses last year's combined operating ratio for the insurer's various lines of business.
Willis UK business down "mid-single digits" in Q1
Willis has again bemoaned the performance of its UK arm as it reported net income from continuing operations for the quarter ended 31 March of $225m compared with $35m in the same period a year ago.
JLT expects to make financial progress in 2012
Broker JLT told shareholders today that the company remains well placed to make financial progress in 2012, despite the uncertain economic outlook.
Hodges hints Towergate readying to float
Towergate has said that, if its "positive" operating earnings continue to grow, it will hold the company in good stead if it decides to float the business.
'Encouraging' Aspen Q1 results affected by Costa Concordia
Aspen has reported Q1 net income after tax of $78.7m (£48.6m), leading chief executive Chris O'Kane to describe his firm's early results as "encouraging" despite insurance results being affected by the sinking of the Costa Concordia.
BHSF surplus slashed by economic woes
Birmingham-based health insurer BHSF has reported premium income growth of 1.6%, but a sharp fall in surplus before tax to £1,038m compared with £3,465m for the previous year.
Towergate results flat but Hodges happy
Towergate has claimed that its full year results for 2011 in line with 2010 was "a positive achievement in a year which was a challenging market for the insurance sector".
Englehardt happy with 'good start' as Admiral turnover increases
Admiral chief executive Henry Englehardt says his full year expectations remain on track following a first quarter which yielded a 9% increase in group turnover from £539m in Q1 2011 to £586m.
Ace CEO marks 'strong start' following big profit rise
Ace boss Evan Greenburg has heralded his firm's "strong start to the year" after the Bermuda-based insurer posted first-quarter results showing a net income jump from $250m (£155m) to $973m (£604m).
India's general insurance market posts 23% premium growth
India's general insurance market achieved premium income growth of 23% for the full year 2011.
AIA increases value of new business by 27% in Q1
AIA Group achieved 27% growth in the value of new business to reach $232m in the first quarter of 2012.
Bharti Axa aims to grow with focus on coastal cyclone-prone areas
Indian insurers must raise awareness of the need for insurance in cyclone-prone coastal areas, according to Amarnath Ananthanarayanan, chief executive and managing director of Bharti Axa General Insurance.
GWP of global non-life insurance to reach $2,500bn by 2017
The global non-life insurance industry saw moderate growth during 2006-2011 and the growth momentum is expected to continue, reaching an estimated $2,500bn in 2017 with a CAGR of 4.2% over the next five years, according to Lucintel.
Japanese insurers' revenues rise after surge in quake policies
Japan's five major insurance companies experienced year-on-year increases in premium revenue during the 2011 fiscal year, according to Japanese publication The Daily Yomiuri.
Reinsurance rates in Asia Pacific rise at 1 April renewals
The major renewal date for the Asia Pacific region saw reinsurance rates increase as the market continued to work through the impact of the events of 2011, according to a briefing by Guy Carpenter.
Chartis underscores £50m investment as UK profit drops 89% to £11m
Nicolas Aubert, UK managing director for Chartis Europe, has stressed the business is “well on the way to break even”, as the UK today revealed an underwriting loss of £51.7m (2010: £65.3m) and combined ratio of 103.6% (2010: 104.2%) for the year ending…
Cooper Gay Swett & Crawford reports 5% growth in first full year accounts
Wholesale and reinsurance broking group Cooper Gay Swett & Crawford has released its first full year results for the year ending 31 December 2011, reporting revenues of $344m, net earnings of $31m and EBITDA of $69m.
RK Harrison more than doubles profit in 2011 to £7.7m
RK Harrison Holdings has more than doubled its group profit for the financial year to 30 June 2011 to £7.7m (2010: £3.5m) on turnover of £76.6m (2010: £67.2m).
Hastings reports profit up 63%
Hastings Insurance Group has announced its first calendar year consolidated results, showing pre-tax profit up 63% to £31m (2010: £19m).