Company results
This week: Gaukward moment for insurers following Ogden change
It was around Spring when office chat turned to the trend of insurers bolstering full year accounts through claims reserve releases.
Broker Network parent gears up for new round of acquisitions
Broker Network’s parent Bravo Group is set to agree an £80m loan facility with a major global bank that will spur its next round of acquisitions, beginning in the second half of 2019.
Analysis: RSA UK&I - getting back on track?
Following two consecutive years of poor underwriting results in the UK, RSA has taken decisive action to restructure its business and shrink premiums
Blog: Aviva's plan to split its UK business is more of a reset than a shake-up
This week Aviva has been tipped to unveil a new structure which will again see its UK general insurance and life/pensions businesses split. Jonathan Swift reflects on why this should not come as a surprise as history dictates the insurer has never been…
This week in Post: Conference, cuts and conservative leadership
This week, along with the rest of the team, I attended the British Insurance Brokers’ Association conference. I knew it would be an action-packed week - but nothing could prepare me for what was ahead.
RSA's hard line on underwriting ‘likely to yield better result’
RSA will likely return to better than expected result this year after making £260m of cuts to business lines, analysts say.
Allianz operating profits rise as personal lines transfer to LV approaches completion
Allianz UK CEO Jon Dye confirmed that the transfer of personal lines business from Allianz to LV remains on-track and will be completed within three to four weeks, as the insurer announced its Q1 results.
Discount rate: Are insurers being too optimistic?
In anticipation of the new discount rate announcement, expected by 5 August 2019, many insurers have already started to price and reserve at 0%
AIG Europe posts profit of £59.5m despite a fall in premiums
AIG Europe has reported a profit before tax of £59.5m for the 12 months to 30 November 2018, up from a loss of £431.5m the previous year.
KPMG fined £6m over Equity Syndicate Management audit
The Financial Reporting Council has issued sanctions against KPMG and others in relation to its Equity Syndicate Management audit.
This week: A rest or a change
I was lucky enough to spend last week’s sunny bank holiday on the South Coast enjoying a well-earned rest. For others in the insurance industry it seems that the saying 'a change is as good as a rest' is proving true with some major people moves this…
Marsh and Guy Carpenter revenues grow as MMC posts Q1 results
Marsh & McLennan’s risk and insurance subsidiaries – Marsh and Guy Carpenter – brought in combined revenues of $2.42bn in the first quarter of 2019, a 3% increase on the same three months last year.
Hastings sees bump in revenue despite loss ratio warning
Hastings has reported a 4% rise in gross written premiums for the first three months of 2019.
Flagging personal lines see Covéa's profits slashed
Covéa Insurance saw its underwriting profit slashed to £1.8m in 2018 compared to £12.4m in 2017, as its personal lines business felt the impact of claims inflation and adverse weather.
This week in Post: Funds, loyalty and crime
Gift cards may not be very personal, but they are perfect when you are not sure what to get someone. However, if you are anything like me you put them away in a “safe” place and forget to use them in time.
Analysis: Iprism moving beyond Gable
Managing general agent Iprism's latest accounts show profits dived and tens of millions of pounds was wiped off the valuation of the company, following the demise of former unrated insurer partner Gable.
Time for Ardonagh to ‘grow into its clothes’ as it slices losses and bulks revenues
The Ardonagh Group sliced its losses by 149% in 2018, as CEO David Ross hailed ‘the end of three years limbering up’.
Weather hit propels Co-op Insurance Services into loss with Markerstudy deal ahead
Co-op’s general insurance underwriting business, which is being sold to Markerstudy, made a trading loss in 2018.
Esure's Peter Wood admits 'disappointing result' as insurer sees a loss of £15.4m for 2018
Motor-heavy Esure faced a “disappointing” year that saw claims costs mount and its solvency coverage ratio dip.
Sabre posts £61.9m profit as it predicts 'uncertainty' for 2019
Sabre Insurance group posted a profit before tax of £61.9m for the year ended 31 December 2018, from £53.3m in 2017.
Lloyd’s hit with £1bn loss in 2018
Lloyd’s of London was slammed with another vast loss in 2018, following on from its £2bn loss in 2017.
This week: All change... please!
The more things change, the more they stay the same. So runs a French expression that feels apt in a week that saw Brexit delayed, leaving us all wondering whether we will be able to talk about anything else ever again.
NFU Mutual reports financial loss of £290m
NFU Mutual has reported a financial loss of £290m in 2018, compared to a profit of £540m the year before.
LV sees GI profit slip on back of claims inflation
LV has seen general insurance operating profit fall 10% in 2018 due to an "adverse claims experience".