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Allianz says expects €700m revenue rise in Q1

Allianz Group said that total revenues are expected to be around €27.7bn in the first quarter of 2009, compared to €27bn in the same quarter of 2008.

Analysts at JP Morgan said that the number were ahead of its own estimates, but in line with consensus.

Operating profit is expected to be around €1,3bn, down from €2,2bn in the first quarter of 2008

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FCA and PRA turn spotlight on MGA oversight

The Financial Conduct Authority and Prudential Regulation Authority are sharpening their scrutiny of managing general agents, stressing insurers must take primary responsibility for businesses underwriting on their behalf.

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