Company results
Beazley combined ratio hit following heavy catastrophe losses
Beazley CEO Andrew Horton admits that the firm’s annual combined ratio target of “around the mid 90s” could be jeopardised by global catastrophes during the second half of the year.
BMS to become employee owned
Specialist insurance broker BMS Group is buy out its only external shareholder, AHJ Holdings, after reporting annual revenues up 7% to £50m.
Beazley reveals $24m half year loss
Beazley has announced a $24m half-yearly loss due to its $154m catastrophe losses earlier this year taking its combined ratio to 108%. It has hired Axa’s Dennis Holt to replace Jonathan Agnew as chairman.
Interview - Ant Middle: Taking the Middle ground
Rejoining Aviva after spending 10 years at Axa was an attractive choice for Ant Middle, during a time of upheaval at both companies. He talks to Mairi MacDonald about the changes and challenges that lie ahead.
Interview - Tom Woolgrove & Steve Maddock: Delivering the hard numbers
RBSI's Tom Woolgrove and Steve Maddock are faced with the daunting task of turning the business around ready for a flotation or sale, and they are already seeing some encouraging results, reports Lynn Rouse.
Davies Group set to sell for more than £60m
Davies Group is expected to be sold for a bid of more than £60m, after its majority shareholder embarked on an auction process.
Sferen posts first year losses of €4.8m
Sferen, the mutual group formed by Macif, Maif and Matmut at the end of 2009, has posted its first combined results, a loss of €4.8m.
Sferen posts first year losses of €4.8m
Sferen, the mutual group formed by Macif, Maif and Matmut at the end of 2009, has posted its first combined results, a loss of €4.8m.
DWF reports rapid growth
DWF has posted a 35% increase in net profit and a 15% rise in turnover to £83m for the year ending April 2011.
Helphire issues profit warning after revealing £29m accounting error
Credit hire firm Helphire has issued a profits warning after revealing a financial overstatement of £29m relating to credit hire and repair.
Motor insurers pay out £1.24 for every £1 premium earned
One in four UK third-party motor claims now involves a bodily injury element according to Towers Watson.
Italian insurance market exceeds 8% of GDP
The Italian insurance regulator ISVAP has released it annual results for 2010 revealing the market exceeded 8% of gross domestic product for the first time.
Italian insurance market exceeds 8% of GDP
The Italian insurance regulator ISVAP has released it annual results for 2010 revealing the market exceeded 8% of gross domestic product for the first time.
RBSI businesses record sharp losses in 2010 as claims soar
Royal Bank of Scotland Insurance companies NIG, Churchill, Direct Line and UKI all suffered losses during 2010, latest accounts reveal.
French mutual MAIF reports turnover of €3.15bn
In 2010, in a context difficult economic the group recorded French mutual MAIF has seen strong development in life insurance (+21.9%) and consolidated its position in business casualty.
Healix Insurance Services boosts revenue by 32%
Wholesale travel insurance broker, Healix, has reported premium income rising to in excess of £30m for the year ended 31 March 2011.
Jelf on course to be debt free by Q3 2012
Jelf chief executive Alex Alway has said the broking group is on course to be debt free by quarter three of 2012 — after the company revealed a pre-tax profit of £800 000 for the half year ending 31 March.
Jelf Group turns around loss to £0.8m profit before tax
Jelf Group, the Bristol-based broking group, has recorded an operating profit before tax of £0.8m for the six months ended 31 March 2011.
BP Marsh to cut Besso stake
BP Marsh is set to sell 4% of its stake in Besso just two months after increasing its shareholding in the Lloyd's broker.
Quinn Group records €888m loss in 2009
Quinn Insurance lost €644m (£557m) in 2009, taking the overall group’s losses for the year to €888m according to the Irish papers.
Chaucer takeover set
The acquisition of Chaucer by The Hanover Insurance Group, set for completion by 1 July, will create a combined premium income of $4bn, and bring scale, diversity and financial strength benefits to all stakeholders, according to the Lloyd's insurer.
Ageas to hike household rates to emulate motor
Ageas is set to continue hiking rates on its household insurance, on top of the 10% it has already pushed through in the first quarter of 2011, in a bid to replicate the improved combined ratio already seen in its UK private motor performance.
Gable CEO blasts FSA for large firm bias over SII
The chief executive of Liechtenstein-regulated insurance company Gable has accused the Financial Services Authority of failing to support small insurance companies in the run-up to Solvency II implementation.
Barbon marks second year of growth with £11m profit
Barbon Insurance Group has recorded a pre-tax profit of over £11m based on a 4% increase in turnover in 2010.