Company results
R&Q reveals record profits as it unveils growth ambitions
Randall & Quilter Investment Holdings has reported a 180% rise in pre-tax profit from continuing operations to £40.1m for the year ended 31 December 2019.
Ardonagh outlines coronavirus lockdown impact
Ardonagh Group has revealed a 1% drop in income year-on-year in April, pointing to a limited impact from the Covid-19 crisis as adjusted Ebitda rose to £20.7m.
Aviva predicts £200m in Covid-19 BI claims
Aviva has predicted it will see £200m in business interruption claims net of reinsurance.
Beazley looks to raise £247m through share placement
Beazley hopes to raise £247m through the placing and subscription of new shares representing 15% of the insurer’s existing issued share capital.
Zurich expects $750m Covid-19 hit
Zurich has predicted a $750m (£614m) property and casualty hit over the course of the year due to the coronavirus pandemic.
Ageas UK pushed into loss as weather bites in Q1
Ageas’ UK operations suffered a £23.5m hit from storms Dennis and Ciara, which drove it into a loss after tax of £2.7m for the first quarter of 2020.
Allianz CFO outlines potential €1bn plus Covid-19 hit
Allianz could see a €1bn (£882m) or more hit from the coronavirus pandemic across property and casualty, Allianz group chief financial officer Giulio Terzariol has cautioned.
Allianz and LV's £68m weather hit edges first quarter COR above 101%
Allianz Holdings, comprising of LV General Insurance and Allianz Insurance, saw £68m in claims relating to storms and flooding in the first quarter of 2020 as Allianz unveiled a global property and casualty €400m (£351m) Covid-19 hit.
This Month: Putting the insurance industry under the microscope
This month we put the insurance industry under the microscope - looking into how much progress the Lloyd's market has made to bolster diversity and inclusion in the sector, the efforts taken to pay out business interruption claims and the industry's…
RSA reports £25m hit after receiving 25,000 Covid-19 related claims
Insurer RSA has revealed it has received approximately 25,000 Covid-19 related claims, which will cost it an estimated £25m net of reinsurance.
Direct Line saw motor claims slide 70% in April
Motor claims notifications fell 70% at insurer Direct Line Group in April compared to the same month in 2019, as drivers stayed indoors due to lockdown measures.
Direct Line standard BI policy wordings at ‘tight end’ of the industry: CEO Penny James
Direct Line Group CEO Penny James has said 99.5% of its business interruption customers have standard policies and the insurer believes the wording is “robust” enough that it will not be liable for coronavirus-related pay outs on these.
Hiscox predicts BI hit up to £250m
Hiscox has predicted its exposure to business interruption claims from Covid-19 could range from £10m to £250m net of reinsurance.
Hiscox looks to capital raise through share placement
Hiscox has announced an equity placing for up to just under a fifth (19.99%) of its issued share capital.
Iprism growth on track after restructure, says MD Ian Lloyd
Iprism Underwriting Agency is growing its underwriting and bottom line profits after its restructure last year despite the impact of the coronavirus pandemic, according to managing director Ian Lloyd.
Swiss Re predicts further credit and surety losses as events bulk up $476m coronavirus hit
Swiss Re’s first quarter earnings were pushed into the red by a $476m hit from the coronavirus pandemic to its property and casualty businesses, driven by event cancellation and postponement.
Lancashire predicts $35m Q1 pandemic blow as it presses on with dividend payment
Lancashire has predicted it faces $35m in first-quarter losses rated to the pandemic, stemming predominantly from business interruption claims in its property book.
Markel confirms Olympics, Wimbledon, UK BI claims exposure
Markel yesterday confirmed its event cancellation book includes Wimbledon and the Olympics, while it will also pay out on some UK business interruption claims.
Markel blames Covid-19 as it swings to $1.4bn Q1 loss
Markel has posted a $1.4bn (£1.13bn) loss for the first quarter of 2020 blaming “significant volatility in the equity markets” due to the coronavirus pandemic.
Beazley and Chubb reveal Q1 coronavirus hits
Beazley has reported a $170m (£137.7m) impact from Covid-19 related claims while Chubb took $13m of pre-tax $13m losses in the first quarter of the year.
Investment returns push Covéa into profit after underwriting loss
Covéa delivered an underwriting loss of £22.3m in 2019 compared to a profit of £1.8m the year before, with the insurer hit by high levels of motor claims inflation and flat market premiums along with a lower level of reserve releases.
Hastings pushes ahead with dividend payment plan
Hastings Group has confirmed it will propose a final dividend of 5.5p per share at its AGM on 21 May despite calls from regulators for the industry to suspend payments during the coronavirus pandemic.
Bank of England’s warning: Which insurers have put pay to dividends?
A flurry of insurers have pushed pause on dividend payouts following Bank of England and European Union warnings on being prudent in the face of the coronavirus crisis.
Sabre delays special dividend as profits shrink in 2019
Sabre has delayed its special dividend to shareholders, citing the need to wait for greater clarity around the impact of coronavirus pandemic.