Company results
L&G reports 7% Q3 rise in GI GWP
Legal & General reported third quarter general insurance gross written premiums of £221m, £15m (7%) up on the same period last year.
TGSL reports 24% growth for 2011
Insurance software house, Transactor Global Solutions reported turnover of £5.2m for 2011, an increase of 24% year on year.
Aon reports 38% jump in profits for third quarter
Aon net revenue increased 38% to $198m (£122.8m) for the quarter ended 31 September 2011, compared to $144m for the previous year.
Transactor reveals growth of 24%
Transactor Global Solutions and associated companies have today announced turnover of £5.2m , an increase of 24%, and pre-tax profits for the group of £0.5 million, an increase of 18%, for March 2011.
Aspen suffers nine month losses of $193m
Aspen Insurance Holdings reported underwriting losses of $193.8m in the first nine months of this year compared to a profit of $74.6m last year.
Axa reports revenue up across Europe for Q3
Axa has reported increases its third quarter property & casualty revenues for all regions in Europe.
Ace’s earnings hit by investment losses
Ace has reported reduced profits for the first nine months of 2011 and a loss for Q3, which it blamed on $760m in net realised investment losses.
Mapfre sees 13.9% increase in GWP up to Q3 in 2011
Spanish reinsurer Mapfre’s gross written premiums for the first three quarters of 2011 were $14.7bn, a 13.9% increase year on year.
Axa reports modest UK P&C growth
Axa has reported its third quarter property & casualty revenues in the UK & Ireland were up 1% to €2 821m from €2 791m.
Broking supplement - Top 25 EC3 Brokers - Analysis: Perennial growth
There have been a few changes at the top – but it has been another year of steady progress for the top 25 EC3 brokers.
Ace Q3 results described as 'outstanding' in tough conditions
Ace has today reported a Q3 loss of $0.09 per share, compared with net income of $1.97 per share for the same quarter last year.
IAG on track to meet FY12 guidance
Insurance Australia Group managing director and CEO, Mike Wilkins, advised shareholders at the company's annual general meeting that it was on track to deliver its results guidance for the 2012 financial year.
Willis sees double-digit organic growth in Eastern Europe for Q3
Willis has reported net income for the third quarter of 2011 of $60m with Eastern and continental Europe seeing organic growth.
Willis says UK business dipped in Q3
A fall in the UK and Ireland market contributed to Willis reporting a Q3 operating margin down to 11.8% from 14.5% for the same period last year.
Towergate losses hit £21.3m
A second quarter report from Towergate has revealed the broker lost £21.3m in the first half of the year, up from £13.7m in the same period of last year.
Penny Black’s insurance week
Globetrotting Penny was expecting to see many things on her recent holiday to Berlin — the Reichstag; the Brandenburg Gate and the Holocaust Memorial Museum — but what she was not expecting was a rather fancy-looking Allianz building right in the middle…
In series: Lloyd's & London Market: Staying number one
Tightening regulation and a less advantageous tax regime are making it tough for Lloyd’s to retain its pre-eminence, but is protectionism the greater threat?
BP Marsh reaps investment profits
Insurance industry venture capital firm BP Marsh announced a near 70% rise in pre-tax profit to £2.3m (2010: £1.4m) and said its net asset value (NAV) had grown 8.1% during the year.
Hastings posts 150% EBITDA surge
Hastings Insurance Group has increased its combined EBITDA from £11m to £27m for the 2010/2011 financial year.
Weak technical results threaten profitability in French, German and UK motor
Motor insurers in Germany, the UK, and France face an uphill struggle for profitability and are unlikely to break even on their underwriting results for several years, according to a report by Standard and Poor’s.
BGL gears up European expansion plans
Compare The Market owner BGL has turned down acquisition opportunities in Europe, but continues to look to grow its presence on the Continent, with discussions in Italy and Spain ongoing.
Sagicor withdrawal forced by First Central losses
Lloyd’s insurer Sagicor’s decision to quit both property treaty reinsurance and casualty treaty reinsurance was forced by huge losses incurred through its tie-up with Gibraltar-based motor insurer start-up First Central, Post understands.
View from the top: Model for the future
Changing catastrophe models will continue to demand, not replace, underwriting expertise, says Matthias Horntrich, chief underwriting officer, international property, XL.
US P&C insurers’ H1 COR hits 110.5%
Private US property and casualty insurers’ net income after taxes fell to $4.8bn in the first-half of 2011 from $16.8bn in first-half of 2010, a report from ISO and the Property Casualty Insurers Association of America says.