Broker/Company results
Willis blames restructuring for profits fall
Willis has reported its net income for the six months to June 30, 2011 was $119m down from $293m in the same period a year ago, which the broker is mainly attributing to restructuring costs of $115m.
Thistle aims high despite 2011 losses
JLT chief executive Dominic Burke claims full year trading profits at its underwriting agency Thistle Insurance will eclipse last year's £4.8m, despite making a £246 000 loss so far in 2011.
O'Roarke urges legal fee crackdown
LV's managing director of general insurance John O'Roarke has added his voice to the cries for a crackdown on legal fees.
Editor's comment: The wheels of industry
The schools may be out for summer and European business fast grinding to a halt as workers decamp to the coast but it's good to see the wheels of British commerce continue to turn, albeit at a rather less than frenetic pace.
Marsh sees H1 growth in broking reveune and profit
Marsh has reported a 5% rise in the underlying reveune in its risk and insurance business to $3.3bn for the six months to 30 June 2011 (H1 2010: $2.95bn).
LV COR improves to 98.1%
LV has reported gross written premiums are up £157m for the first six months of 2011.
Aon reports 3% organic growth in American and international broking arms
Aon today announced its revenue increased 48% to $2.8bn for the second quarter of 2011 compared to the prior year quarter, due to a 42% increase in commissions and fees resulting from acquisitions, primarily that of Hewitt.
JLT transformation programme exceeds expectations as profits and revenues rise
JLT has recorded a 9% leap in total revenue for the first six months of 2011 to 411.3 (H1 2010: £377.8m) and 8% rise in underlying trading profit for the same period at £76.1m (H1 2010 £70.7m).
Gallaghers confident of exceeding $2bn in 2011 after Heath deal and strong H1
Arthur J Gallagher & Co today reported a 13% rise in brokerage revenues for the first six months of 2011 to $717.6m (£439m) (H1 2010 $635.2m).
Interview - Charles Earle: Aiming high with Arista-cratic Earle
Despite falling short of his initial five-year plan, Charles Earle has still seen Arista make considerable achievements. He talks to Lynn Rouse about his philosophy surrounding underwriting control, system transparency and acquisition plans.
BMS: US reinsurance focus after buy out
BMS bosses have vowed to switch the company focus towards the US reinsurance market following the news that the broker has reached an agreement to buy out its only external shareholder AHJ Holdings.
BMS to become employee owned
Specialist insurance broker BMS Group is buy out its only external shareholder, AHJ Holdings, after reporting annual revenues up 7% to £50m.
Interview - Ant Middle: Taking the Middle ground
Rejoining Aviva after spending 10 years at Axa was an attractive choice for Ant Middle, during a time of upheaval at both companies. He talks to Mairi MacDonald about the changes and challenges that lie ahead.
Motor insurers pay out £1.24 for every £1 premium earned
One in four UK third-party motor claims now involves a bodily injury element according to Towers Watson.
Italian insurance market exceeds 8% of GDP
The Italian insurance regulator ISVAP has released it annual results for 2010 revealing the market exceeded 8% of gross domestic product for the first time.
Italian insurance market exceeds 8% of GDP
The Italian insurance regulator ISVAP has released it annual results for 2010 revealing the market exceeded 8% of gross domestic product for the first time.
RBSI businesses record sharp losses in 2010 as claims soar
Royal Bank of Scotland Insurance companies NIG, Churchill, Direct Line and UKI all suffered losses during 2010, latest accounts reveal.
Healix Insurance Services boosts revenue by 32%
Wholesale travel insurance broker, Healix, has reported premium income rising to in excess of £30m for the year ended 31 March 2011.
Jelf on course to be debt free by Q3 2012
Jelf chief executive Alex Alway has said the broking group is on course to be debt free by quarter three of 2012 — after the company revealed a pre-tax profit of £800 000 for the half year ending 31 March.
Jelf Group turns around loss to £0.8m profit before tax
Jelf Group, the Bristol-based broking group, has recorded an operating profit before tax of £0.8m for the six months ended 31 March 2011.
BP Marsh to cut Besso stake
BP Marsh is set to sell 4% of its stake in Besso just two months after increasing its shareholding in the Lloyd's broker.
Barbon marks second year of growth with £11m profit
Barbon Insurance Group has recorded a pre-tax profit of over £11m based on a 4% increase in turnover in 2010.
View from the top: A very bad year
Despite reinsurers' initial talk that the Australian floods and the New Zealand & Japanese earthquakes were earnings — not balance sheet — events, and there would be no impact on rates, the chatter has changed recently, with some now actively hinting at…
Perseverance prepares to exit UK insurance market
Perseverance, the Gibraltar-based former owner of KGM, is set to dispose of one of its remaining assets in the UK insurance market, Post understands, following negotiations to sell its stake in One Answer Network.