Broker/Company results
Green Flag catches investors' eye
The appeal to investors of breakdown business Green Flag could provide its parent company Direct Line Group with "significant future flexibility" according to Investec Securities.
Willis reveals $446m net loss
Global broker Willis recorded a net loss of $446m for the 2012 financial year, in stark contrast to the previous year’s $203m profits.
Steady growth at Marsh and Guy Carpenter
Marsh and Guy Carpenter have both seen revenues increase for the year ending 31 December.
Willis reports $446m 2012 net loss
Willis group has posted a total net loss of $446m for the year ending December 31 2012, a significant swing on last year’s result of $203m profits, alongside plans to cut 200 jobs.
RFIB boss looks to the future after overseeing 9% turnover growth
International Lloyd’s broker RFIB Holdings chief executive Jonathan Turnball believes a 9% increase in group turnover to £47.5m last year will serve as a launch pad for further growth in 2013.
Catlin strategy results in growing non-UK GWP contribution in 2012
Catlin recorded a 12.6% improvement in its combined operating ratio for 2012, in a year in which 49% of the firm’s total annual gross written premium of $4.97bn (£3.16bn) was produced by non-London/UK hubs.
Beazley CEO downplays M&A interest amid plans for repeat of 2012
Beazley chief executive Andrew Horton has played down the likelihood of acquisitive movement at the specialist insurer in 2013 and is instead aiming for a repeat of the previous year in terms of growth.
Markel notches up substantial COR improvement across the board
Markel International’s combined operating ratio plummeted below the break even line for 2012 after the operation recorded a COR of 88%, down 28% on the previous 12 months.
Aon annual revenue rises 2% to $11.5bn
Total revenue for 2012 increased 2% to $11.5bn (£7.3bn)due to a 4% increase in organic revenue, partially offset by a 2% unfavourable impact from foreign currency exchange rates.
Aon CEO Greg Case hails benefits of London redomicile as it unveils 2012 results
Aon's revenue in 2012 increased 2% to $11.5bn due to a 4% increase in organic revenue, the broker reported today.
AJ Gallagher reports 15% rise in revenue
Arthur J Gallagher has reported brokerage for the full year in 2012 increased to $1.83bn (2011:$1.56bn) while Ebitdac increased to $383.3m (2011: $320.8m).
GI firms valued upwards of £100m drops 15% in 2012
The number of general insurance companies valued at over £100m dropped by almost 15% last year, according to research carried out by industry advisory firm IMAS.
Brightside chalks up 12% increase in annual policy sales
Brightside built on its annual policy sales by 12% last year, taking its total for 2012 to 400 210.
Revenues rise 42% at Hyperion
Hyperion has seen total group revenues reach £111m for the year ending 30 September 2012, up 42% from last year's equivalent of £78m.
CBI: Insurer business volumes grow as brokers report steep fall in business
General insurers have seen "robust growth" in business volumes over the past three months, in contrast to insurance brokers, which have reported a "steep fall in business".
Insurers face most challenging P&I renewals in a decade, Willis warns
The upcoming P&I renewal could be the toughest in a decade as difficult economic conditions for ship operators, poor underwriting results and a slew of large claims threaten to create a "perfect storm", according to Willis.
Jelf to set up managing general agency as it pays maiden dividend
Jelf is to set up a managing general agency offering products to members of its Purple network as the company plans its first acquisitions in five years.
Skuld claims costs soar as a result of international pooling system
Marine insurance provider Skuld chalked up record high claims costs from the international group's pooling system, leading to a bottom line deficit of $2.9m (£1.8m) with corresponding contingency reserves of $288m (£178.9m).
Jelf profit rises 23.5% to £3.5m
Jelf has reported a 1.3% rise in revenue to £73.0m (2011: £72.1m) while Ebitdae increased by 11.6% to £11.3m (2011: £10.1m) in the year ending 30 September 2012.
Charles Taylor cements solid profits in bid to drive down group debt
International professional services provider Charles Taylor released an interim management statement this morning, reaffirming a commitment to implement its run-off strategy by acquiring offshore life insurers in run-off.
Zurich UK results dented by 'exceptionally large' commercial claim
Zurich UK general insurance chief executive Steve Lewis has blamed adverse weather conditions for a £15m slump in business operating profit, compared to the nine month stage last year.
AM Best offers positive outlook on Markel International
Rating services firm AM Best Europe has affirmed the financial strength rating of 'A' and issuer credit ratings of "A+" of Markel International and Lloyd's Syndicate 3000.
Davies expects Markel full-year results to weather the storm
Markel International finance director Andy Davies is confident that the impact of superstorm Sandy on his firm's full-year results will not halt the momentum achieved in the opening nine months of the year.
Allianz CEO Torrance blasts 99.1% COR as 'unacceptably poor'
Allianz UK's commercial lines combined operating ratio deteriorated to 99.1% for the first nine months of 2012 from 95.1% in Q3 2011 as the retail non-motor COR worsened to 101.7%.