News
Berkshire Hathaway's underwriting losses continued in Q2
(Re)insurance giant Berkshire Hathaway swung from a $337m (£258m) underwriting profit in the second quarter of 2016 to a $22m loss in Q2 2017.
Uncertainty hampering M&A activity, says Clyde and Co
Corporate uncertainty around Brexit and tighter Chinese monetary controls has been hampering M&A activity in global insurance this year according to international legal firm Clyde and Co.
Allianz and LV to remain competitors until first half of joint venture deal is completed
Following the announcement that Allianz will buy 49% of LV’s general insurance commercial business, both parties have said that they will remain competitors until phase one of deal is completed at the end of 2017.
MoJ declines to give date for release of Ogden consultation feedback
The Ministry of Justice cannot give a date for the release of the discount rate consultation feedback.
'Broad organic growth' behind Aviva success as investment in tech curbs expenses, says Holmes
Maintaining “ broad organic growth” has been a key driver of success behind Aviva’s half-year results, said Aviva UK’s CEO Colm Holmes.
This Month in Post: AIG's UK CEO, BIA photos, terror car hire and tower fire
A look at this week's insurance news and this month's Post issue.
Obituary: Mike Hannan, a ‘venerable institution’ of Lloyd’s
Mike Hannan, a “venerable institution” of the London insurance market, has passed away this week aged 74.
Allianz UK sees drop in profits as COR improves marginally
Allianz UK saw its combined operating ratio marginally improve in H1 2017 despite deteriorating operating profits.
Allianz LV deal precursor to more European activity in UK market, brokers say
Allianz’s purchase of 49% of LV’s GI unit could be a precursor to further UK market activity from European insurers, brokers said.
Swiss Re's first half profit falls 35% as Cyclone Debbie costs reach $360m
Global reinsurance giant Swiss Re saw powerful Cyclone Debbie contribute towards a 35% fall in profit in the first half of 2017 while gross written premiums declined by over $1.5bn (£1.14bn).
Allianz to buy 49% of LV GI for £500m
Allianz will buy 49% of LV’s general insurance business as part of a long-term partnership which will see the creation of the UK's third largest personal lines insurer.
Brit's profits fall in first half
UK-based Brit Insurance's investment returns have hit profits in the first half of the year.
Gallagher expands in Canada with Quebec purchase
International broker Arthur J Gallagher has bought its first broker in Quebec.
More innovation to come from Axa as it looks towards driverless cars
Axa has said it will be looking to increase its involvement with insurtech and ‘lead the way’ on driverless cars, following recent insurtech partnerships.
Ogden change sees Esure's reinsurance costs rise by a third
The change to the Ogden discount rate added a third to the cost of Esure’s reinsurance, company results have revealed.
LSM launches fine art and specie in the Netherlands
Liberty Specialty Markets is to begin underwriting fine art and specie in the Netherlands.
Axa reports reduction in COR and improvement in underwriting profit in H1
Axa has reported an improvement in its underwriting profit and a reduction in its combined operating ratio which fell to 97.7% in the first half of 2017 from 98.2% in the same period last year.
LV confirms talks with Allianz over GI stake sale
LV has confirmed that it is in discussions with Allianz regarding a potential sale of a significant minority stake in the insurer’s GI operation.
Aviva sees profit grow and COR improve in H1
Aviva’s general insurance and health division grew its operating profit by 25% over H1 2017, up to £417m from £334m for the same period last year.
Germany spurs Axa's first half global P&C results
Paris-headquartered insurer Axa's 2017 P&C results for the first half were buoyed by strong performances in Germany, its EMEA-LatAm business and Axa Corporate Solutions.
Esure's profit leaps 44.6% in H1
Esure saw its profit before tax from continuing operations rise 44.6% in H1 2017, to £45.1m from 31.2m for the same period last year.
AIG's global commercial premiums fell 15% in Q2
US global insurance giant AIG posted a 102.7% combined operating ratio for commercial lines in the second quarter.
Suncorp's FY insurance profits climb 30% in Australia; drop 55% in New Zealand
Brisbane-headquartered financial services group Suncorp saw mixed results in its two key insurance markets for the full year ending 30 June.
Lemonade expands to fourth state since launching
Lemonade has launched its Artificial Intelligence-driven insurance product in New Jersey, making the state the fourth that it has expanded into.