Company results
Aviation loss levels hit six-year low
The aerospace division of Willis Group Holdings has reported loss levels in the aviation sector are at a six-year low, and insurance premiums are trending on a downward slope.
Novae reiterates 60% loss ratio target
Novae has reported its gross written premium for the first nine months of 2011 was up 9% to £516.4m, up 9% (2010: £473.3m).
Zurich reports 'worst year since Katrina'
Zurich branded 2011 ‘the worst year since Hurricane Katrina’ as it reported a 12% slump in general insurance operating profit for the nine months so far, which was down to $1.73bn from $1.97bn last year.
Ageas boss 'confident' of an equally impressive Q4
Ageas chief executive Barry Smith is confident the company will continue to buck the trend in combined motor ratio for the fourth quarter after today posting impressive motor COR results of 96.4%.
Admiral share price rests on analyst presentation
Admiral’s analyst presentation this afternoon could see its share price rise if it “hits the market with new stuff” or plummet further if it fails, experts have warned.
Ageas UK reports increase in GWP
Ageas UK today reported that its total general insurance gross written premiums for the first nine months of 2011 increased by 16.8% over the same period in 2010 to £822.5m.
Markel's combined ratio hits 105% due to nat cat losses
Markel Corporation’s combined ratio increased to 105% in the first nine months of 2011 due to heavy natural catastrophe losses.
European conditions challenging for JLT
Jardine Lloyd Thompson Group has reported it remains on track to achieve its objectives and deliver year-on-year financial progress.
Markel reports 105% COR on nat cats
Markel said its combined ratio was 100% for the third quarter of 2011 compared to 93% for the third quarter of 2010 and was 105% for the nine months ended September 30, 2011 compared with 99% for the same period of 2010.
Profits nosedive at Munich Re
Munich Re announced its third quarter operating profit was down 88% to €402m (2010: €3.4bn) and its consolidated profit was down 96% to €80m (2010: €2bn).
JLT struggles in European markets
Broker JLT said its overall trading performance is in line with expectations but warned that European markets had been challenging and rate remained weak.
Hiscox cuts GWP in favour of profit
Hiscox has said its gross written premiums year on year reduced in the first nine months of the year by 3.0% to £1,169.5m (2010: £1,205.3m) as the group maintained underwriting discipline and walked away from poorly rated risks.
Q3 market movements take toll on insurers' capital adequacy, S&P says
Recent financial developments, combined with marking-to-market of insurers' investments, has depleted European insurers' balance sheets, according to a report by Standard and Poor's.
Geddes says RBSI won't "crack open the champagne" just yet
Bosses at RBS Insurance have attributed a dramatic third quarter operating profit turnaround of £615m over the past 12 months to a combination of factors, including an exit from broking personal lines and general business re-pricing.
RBSI sees slight dip in profit Q2 to Q3, but happy with performance YTD
Royal Bank of Scotland Insurance this morning reported an underwriting profit of £761m in 2011 to date - an increase of £591m versus September YTD 2010.
Aviva remains cautious over motor profits
Insurer Aviva has warned that claims inflation is still holding back personal lines motor profits despite rate increases.
Financial market volatility hits Swiss Re’s core combined ratio
Swiss Re saw the combined ratio for its property and casualty segment increase to 80.8% for the third quarter of 2011 due largely to financial market volatility.
Alterra reports earnings down for Q3 2011
Alterra Capital Holdings has reported net income of $48.4m, or $0.46 per diluted share, for the third quarter of 2011, compared to net income of $82.8m for the same quarter of 2010.
Ireland 123 aquisition drives RSA's profits up for Q3
The acquisition of 123 in Ireland last year and growth across central and emerging Europe has helped RSA to report further growth in quarter three of 2011.
Swiss Re reports 118% net income rise
Swiss Re reported a 118% increase in net income in its third quarter to $1.3bn (2010 $0.6bn).
RSA’s pet and household replace motor
RSA has reported UK personal lines Q3 net written premiums were up 13% to £1 036m, with commercial lines up just 2% to £1 282m. Overall the UK was up 7% to £2 318m.
Aviva claims UK rise makes it market leader
Aviva claimed UK general insurance sales increased 12% over the first nine months of the year making it “the general insurance market leader in the UK”.
XL’s operating net income drops to $169m
XL group has announced its third quarter 2011 results which show an operating net income drop to $169m from $567m in 2010.
Marsh insurance unit increases profit by 24%
Marsh & McLennan Companies’ today announced its risk and insurance services unit made an operating profit of $925m for the first nine months of 2010 – an increase of 24% on the previous year.