Company results
Doha Insurance reports 9% net profit rise
Doha Insurance Company (DIC) has seen its net profit rise 9% to Q65.85mn, and has recommended 30% bonus shares to shareholders.
Brightside board claims 'record year' in progress update
Brightside bosses are preparing to announce figures for a “record year” in which the acquisitions of E-Systems and eDevelopment have helped contribute to a significant increase in reported earnings per share.
Japanese insurance giant plots merger
NKSJ Holdings, Japan's third-largest general insurer, is planning to merge its two main units, Sompo Japan and Nipponkoa Insurance, according to report.
Chubb’s profits fall as premiums rise
US insurer Chubb has reported rising premiums but falling income in the fourth quarter, echoing a year of reduced operating and net income on 5% higher net income.
Renaissance Re adds $45m Thai losses
Renaissance Re estimates the flooding in Thailand will cost it $45m (£29m) from its fourth quarter 2011 results but it said revisions of the New Zealand earthquake and the Tohoku earthquake losses are not expected to be significant.
Marine hull insurers await rating impact in wake of cruise ship sinking
The Costa Concordia cruise ship disaster has been called the largest insurance loss in maritime history with some suggesting it could be “bigger than the Titanic”.
View from the top: A case of déjà vu in the market
The current economic situation means now is the right time to generate rate rises, says Toby Esser.
ULR reports £4m loss as auditors raise concerns over future
Auditors for legal expenses provider ULR Additions have compiled a damning report of the firm's 2010 accounts, which made a £4m loss, stating there is “uncertainty” about the company’s future.
Thai insurance giant seeks 20% growth in 2012
Muang Thai Life Assurance is seeking to expand its business by more than 20% to 40bn baht (£800m) this year, according to reports.
QBE ratings unchanged despite cat losses
AM Best has left the ratings of QBE unchanged despite the company almost halving its forecast profit after tax because of catastrophe losses.
Vienna Group expects €560m profit for 2011
Vienna Insurance Group estimates that it will have profit before taxes of €560m in 2011, the best result in the group’s corporate history.
Indian COR poll
When will the Indian non-life market reach a combined operating ratio of 100%
Hyperion boss eyes market opportunities following year of growth
Hyperion is in prime position to target acquisitions and consider a stock market flotation after announcing organic growth of 18% last year.
QBE expects 40% drop in profits after tax
Australia-based general insurer QBE expects its profits after tax for 2011 to be down 40% to 50% on the previous year.
Expert analysis: Relatively calm
Although competition remains fierce in the aggregator arena, the rush for volume has slowed as the motor market moves closer to break-even point, says Tom Cooper, Igo4.
Abbey promises profits despite tough economy
Abbey Protection is expecting to announce results in line with expectations despite the continuing tough economic background and low interest rates.
Partner Re to take $88m charge from Tohoku quake
PartnerRe is set to record a charge of approximately $88m (€67.2m) to reserve the full limit of its Tohoku Earthquake exposure related to its largest Japanese cedant.
Jelf expands in affinities and PI sales
Broker Jelf has said its insurance growth has been on the back of a “fantastic year” in professional indemnity insurance sales and the success of specialist policies for recruitment firms.
Jelf’s insurance EBITDAE rises 14%
Broker Jelf said its insurance sector revenues were up 4.5% to £44.8m (£42.9m) with its insurance EBITDAE up 14% to £4.9m (£4.3m). Jelf said insurance accounted for 62% of its business.
Fonsai misses 2011 target but cut losses by 51%
Italy’s second largest insurance company reported losses of €178.6m in the first nine months of 2011, but avoided the scale of losses that plagued it in first three quarters of 2010.
Cattolica profits down €20m
Cattolica Società di Assicurazione reported net profit of €41m for the first three quarters of 2011, down €20m compared with the same period in 2010.
Global reinsurance capital declined by 4% in the first nine months
Global reinsurer capital declined 4% from $470bn at 31 December 2010, to $450bn at 30 September 2011, according to an Aon Benfield report.
Skuld sees 13% premium growth at Q3
Norwegian maritime insurer Skuld continued to grow in the third quarter, with a 13% increase in premium income year on year.
Review of the year - Health insurance: Seeds of change
Despite a tough 12 months, and gloom forecast for 2012, the health insurance sector has planted important seeds for future growth this year.