There was “a very large number of factors” behind the significant drop in operating profit at Allianz UK in 2019, according to CEO Jon Dye.
Allianz UK has reported profit of £138.1m for 2019 supported by investment gains as operating profit fell.
Ageas UK saw its profitability slump by 21% last year, reporting full-year profits of £60.3m compared to £76.7m in 2018.
Zurich’s UK general insurance arm saw profit almost double and its combined operating ratio improve in its 2019 financial year.
Admiral is expecting to see profit before tax of £510m to £540m for 2019, with its staff to each receive a £500 bonus.
Beazley hopes to slash its expense ratio in half as a result of the proposed widespread reform of the Lloyd’s market and internal investment in automating simpler classes of business.
Aon has posted a 35% leap in profit from $1.13bn (£857m) in 2018 to $1.53bn last year.
Marsh & McLennan Companies has reported revenue of $16.65bn (£12.66bn) and profits of $1.74bn for 2019.
Gallagher delivered revenue and margin growth across all four UK trading units of retail broking, specialty broking, Pen Underwriting and Capsicum Re last year, Simon Matson has stated.
Hyperion has £300m to spend and around 20 deals in its mergers and acquisitions pipeline, group chief financial officer Mark Craig told Post as the group announced its 2019 results.
Rising claims costs in quarter four are expected to put a slight dent in Hastings’ 2019 dividend payout.
Pet insurance insurtech Bought By Many has engaged with a number of larger funds as it edges towards a Series C fundraising round in the coming months, CEO Steven Mendel told Post.
Loss-making GRP, which posted its third consecutive loss last month, acquired ten businesses last year for a total cost of £68.8m.
Motor broker Sure Thing Insurance Services made a loss of £2.1m in its final year ahead of the sale to Qmetric Group’s Policy Expert last June.
In its report and accounts for the financial year ended 31 March 2019, broking group GRP reported a 48% increase in turnover to £112.1m (2017/2018: £75.9m), a rise in operating profit £27.8m (2017-18: £10.2m), and the equivalent EBITDA from the group’s…
Broker A-Plan paid Zurich £16.48m for Endsleigh when it completed the deal to buy the specialist broker in March last year.
A-Plan will be opening its 100th office within the next two months, CEO Carl Shuker told Post.
Davies Group has made two senior appointments, as it revealed a jump in Ebitda and revenue for the year ended 30 June 2019.
Ardonagh CEO David Ross has asserted the business's commitment to independence and revealed that while the firm’s court case victory over Gallagher did not come as a surprise the episode left him “a little bit heartbroken and incredibly sad”.
Ardonagh Group has a list of 146 potential acquisitions, which it reviews at a fortnightly investment committee, according to CEO David Ross.
Aviva is targeting a general insurance combined operating ratio of 93%-95% by 2022, according to general insurance CEO Colm Holmes.
Direct Line Group will look to save over £50m in costs before 2022, it said in a trading update.
Ardonagh has posted a loss of £67.7m for the first nine months of 2019, up from £48.9m in the same period of last year.
Direct Line Group will see £10m in claims from flooding in the North of England, its early estimates suggested.