Company results
Hyperion to take measured approach to acquisitive growth
Hyperion will look to build on its retail business this year, but CEO David Howden said the firm will never chase premium through acquisitions.
SSP redundancies to be finalised ‘before Christmas’
Software house SSP expects to have finalised its restructuring consultation before Christmas.
Loss-making GRP spent £112.6m on acquisitions over its last financial year
Broking group GRP made a loss of £20m for the financial year ended 31 March 2018, in a year that saw it acquire fifteen businesses.
Ardonagh slices losses by almost half for first nine months of 2018
The Ardonagh Group cut down on its losses for the first nine months of the year, down to £48.9m compared to £92.7m in 2017.
Sure Thing grows policy count as losses hold steady
Broker Sure Thing has grown its policy count by 12.8%, while making an operating loss of £1.9m in its fourth year of trading.
Analysis: Review of 2018
The spectre of Brexit loomed large over the insurance sector this year, and although the picture is still no clearer in terms of how the UK market will continue to trade with Europe after 29 March 2019, significant merger & acquisition activity was among…
IASB votes to push back IFRS 17 roll out
A consultation on pushing back IFRS 17 is expected, after the International Accounting Standards Board voted to postpone the implementation of the global accounting standards to 2022.
Allianz-LV business transfer will be 'largely complete' by Q3 2019
The transfer of business between LV and Allianz will be complete by this time next year, the Allianz CEO said.
Hastings issues warning over rising claims inflation
Hastings has seen shares fall as it warned of a “competitive” market with rising claims inflation.
Top 30 Asian insurers: Diverse markets
AM Best’s ranking of Asia-Pacific non-life insurers remains dominated by the same companies as last year, writes director of analytics Chi-Yeung Lok, noting the market characteristics of mature and emerging markets stay as disparate as ever
Insurers ask for two more years to implement IFRS 17
Insurance associations from around the world are asking for a two-year delay in the implementation of the International Financial Reporting Standard 17 for insurance contracts.
IUA reports London company market growth of 16%, largest seen for five years
The total premium either written or controlled by the London company market has risen to £26.31bn – a 16% increase – according to the International Underwriting Authority's new statistics report.
Blog: Mark Wilson the surefire hit as Aviva CEO, who lost the trust
Following yesterday's announcement by Aviva that Mark Wilson is to step down as group CEO of Aviva, Jonathan Swift reflects on why the move was not such the "shock" some painted it as.
Compare the Market owners see profits rise despite blow from abandoned IPO
Compare the Market owner BGL Group has seen underlying pre-tax profits soar by 16% in spite of its abandoned initial public offering.
McCafferty re-affirms strategy as Brightside hit by £10.2m loss
Brightside saw pre-tax losses of £10.2m last year, but incoming CEO Brendan McCafferty said there is “no need to alter strategy”.
Bruce Stevenson steams past £30m GWP, acquires regional broker
Independent Scottish broker Bruce Stevenson has bought Turiff-based Youngson Insurance Consultants.
Top 100 UK insurers 2018: AM Best commentary: Under pressure
In 2017, the combined underwriting results of the largest 100 UK non-life insurers improved but remained in the red. How well did insurers perform under pressure from strong competition and unfavourable claims trends?
Lloyd’s sees diminished results even as it shrugs off 2017 losses
Lloyd’s H1 pre-tax profit was down 51% on the same period last year, even as the Corporation saw improvements in its combined ratio.
Weather hit and 'transformational' costs drive Co-op Insurance into the red for H1
Co-op’s insurance arm made an operating loss of £14m in the first half of 2018, which it says was largely due to weather claims.
Charles Taylor sees H1 blow from restructuring costs
Charles Taylor saw H1 pre-tax profits fall 95% on the back of one-off restructuring costs.
This week in Post: Do you know who's on the other end of the phone?
We have all experienced that heart-stopping moment when our phone rings and our eyes are greeted with the dreaded: "No caller ID."
Watchstone suffers Ogden hit, bulks up legal cost provisions
Watchstone has reported a pre-tax loss of £3.5m for the first half of 2018, with Ingenie still suffering from Ogden woes.
Zhong An shoots five places up Chinese P&C rankings, underwriting hits continue
Zhong An is now the 13th top player in China’s property and casualty market. It has moved five places up the rankings since the end of 2017.
Ardonagh Group reports income boost of 9.1% at H1
The Ardonagh Group has reported income growth of 9.1% as both income and profit climb in the first six months of 2018.