Broker/Company results
Marsh reports 22% rise in operating income to $972m in 2010
Marsh & McLennan Companies has reported net income increased to $855m (£529m) in 2010 compared to $227m (£141m) in 2009.
Marsh reports 22% rise in operating income to $972m in 2010
Marsh & McLennan Companies has reported net income increased to $855m (£529m) in 2010 compared to $227m (£141m) in 2009.
Hyperion chair: IPO on track after 41% leap in EBITDA
Hyperion, the international insurance and re-insurance distribution group saw revenue increase 26% to £72.2m (2009: £57.2m) and EBITDA, excluding non-recurring items, rise by 41% to £12m (2009: £8.5m) for the year ended 30th September 2010.
Hyperion chair: IPO on track after 41% leap in EBITDA
Hyperion, the international insurance and re-insurance distribution group saw revenue increase 26% to £72.2m (2009: £57.2m) and EBITDA, excluding non-recurring items, rise by 41% to £12m (2009: £8.5m) for the year ended 30th September 2010.
Willis aims for $180m in global cost savings to fund end to pay freeze
Willis in undertake a global review of its operations in the first quarter of 2011 to help fund the end to its salary freeze.
THB reports 32% rise in 2010 broking profit to £7m
THB this morning reported fee and commission income in 2010 was up by 5% at £48.4m (2009: £46.2m).
Aon hails affinity as it reports 6% rise in UK Q4 2010 organic growth
Aon has reported a 3% fall in UK retail broking income to $629m (£392.1m) in the year ended 31 December 2010 (2009: $650m).
Aon hails affinity as it reports 6% rise in UK Q4 2010 organic growth
Aon has reported a 3% fall in UK retail broking income to $629m (£392.1m) in the year ended 31 December 2010 (2009: $650m).
Jelf has big plans for personal lines in 2011
Jelf chief executive Alex Alway is targeting "aggressive organic growth" after its 2010 annual results revealed that the firm had reduced its debt and turned a 2009 loss into profit.
UK brokers call for FSA talks – Insurance News Now – 2 February 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories, including how some UK brokers are calling for a meeting with the FSA to discuss concerns over the increasing level of intervention in compliance issues by the regulator.
Jelf reports 21% increase in earnings
Jelf has reported a 21% increase in EBITDAE in its 2010 full-year results to £9.8m (2009: £8.1m) while revenue was stable at £70.4m (2009: £70.3m).
News analysis - Aviva shake-up: Mayer's return to Europe
With Igal Mayer set to spearhead Aviva's European plans, Daniel Dunkley asks the market its opinion on the appointment of this divisive figure and how he is likely to fit in with the firm's strategy.
Interview - Sarah Lyons: What next for Giles?
Having joined the industry as a school leaver, Sarah Lyons is now group MD of Giles. She explains to Mairi MacDonald why growth, rather than exit plans, remains top of her agenda.
Cobra announces 14% profit boost
Insurance broker Cobra has revealed a pre-tax profit increase of 14.1% for the six months to 30 September 2010
Giles CEO hails "industry leading margin" as earnings fall 13%
The Giles Group has reported that its turnover and EBITDA (excluding non recurring items) both decreased for the year ended 31 August 2010.
Broker CBG warns 2010 profits "significantly" below expectations
CBG Group has warned its 2010 profit before tax is expected to be significantly below current expectations.
P&I faces challenging market in 2011, Willis warns
While investment income in the Protection and Indemnity (P&I) insurance market bounced back to $680m in 2009/10 from a $840m loss in 2008/09, record claims levels, and a continuing gap in the performance of individual P&I Clubs could present challenges…
P&I faces challenging market in 2011, Willis warns
While investment income in the Protection and Indemnity (P&I) insurance market bounced back to $680m in 2009/10 from a $840m loss in 2008/09, record claims levels, and a continuing gap in the performance of individual P&I Clubs could present challenges…
A-Plan to continue branch investment after profit rise
Private-equity-backed high street broker A-Plan Holdings has insisted it will continue to invest in opening new branches where suitable opportunities exist.
Oval records pre-tax loss of £3.5m in 2010 results
In the financial year ending 31 May 2010, broker Oval today revealed its revenue reduced by 8% from £104.6m in 2009 to £96.0m in 2010.
Lloyd's broker RFIB's pre-tax profit falls 32% to £3.2m
Lloyd's broker RFIB Holdings has revealed its turnover (which includes fiduciary interest as well as brokerage) grew 13% from £38.3m to £43.5m for the year ended 30 June 2010.
CEO Hodson agrees to stay on three more years at Oval
Oval chief executive Phillip Hodson has revealed the broker's immediate priority is "getting the business in the best possible shape" rather than seeking an IPO or trade sale.
Autonet eyes expansion with own aggregator launch
Broker Autonet Insurance has partnered with Money Supermarket to launch a new online van insurance aggregator.
Ageas keen to developKwik Fit's niche brands
Ageas UK chief executive Barry Smith has pledged to retain and expand Kwik Fit Insurance Services' niche operations as it seeks to widen the group's overall product footprint.