Company results
JLT "positive" on start to 2011 after Asian account wins
The year to 27 April has started "positively", JLT reported today, with increased contributions from its businesses in the faster growing economies and, in particular, a number of notable new accounts won in Asia.
Randall & Quilter reports profits boost
Insurance investment firm Randall & Quilter has reported pre-tax profits of £7.5m - a sizeable increase on the £260 000 sum recorded for 2009.
Q1 nat cats not market-turning
Total industry insured large losses since the third quarter of 2010 of $32bn will not be enough to turn the reinsurance market, an analyst has warned.
Equity expansion still on track despite 185 jobs under threat
Equity Insurance Group has insisted its branch network and plans for regional expansion are safe, despite putting 185 jobs within its underwriting and distribution operations at risk.
BHSF strengthens reserves by 10%
Birmingham-based BHSF has strengthened its reserves by almost 10% to over £25m in 2010 despite the testing UK economy.
HCC records $51.5m loss
HCC Insurance Holdings has announced its preliminary 2011 first quarter catastrophe loss estimate.
RIIG turns loss to profit in Q1
Resources In Insurance Group has reported a profit of £20 000 in the first quarter of the year after the conversion of £200 000 of loan notes left the group debt free.
Chubb reports $270m cat hit in Q1 2011
Chubb has reported that the impact of catastrophes in the first quarter of 2011 was $270m (£164m) before tax. This figure includes the winter storms in the US, flooding in Australia, and earthquakes in New Zealand and Japan.
Travelers Q1 NWP down overseas as a result of Lloyd's action
US insurance giant Travelers has reported that its international arm saw a 20% decrease in net written premiums to $255m (£155m) in the first quarter of 2011 compared to the prior year quarter.
185 jobs at risk as IAG UK wields axe
Post has learnt that Equity Red Star, the UK arm of Insurance Australia Group, is set to make a host of staff redundant as part of sweeping cuts across the business. A total of 185 jobs are at risk.
Regional review - Cardiff: a sleeping dragon?
Despite being the largest city in Wales, the Cardiff insurance sector faces daunting challenges in the future. Daniel Dunkley finds out how it plans to face them.
Giles £100m corporate target bolstered by wins
Giles Insurance Brokers' efforts to grow its corporate book of business to £100m within 12 to 18 months has been boosted with a series of business wins.
Post history - 50 years ago: NZ insurer gives account break down
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from 50 years ago reveals.
Iprism cuts losses and eyes 2011 profit
Online commercial underwriting agency Iprism has seen its losses reduce by £4.5m during 2010, according to its latest filings at Companies House.
News analysis - Provident Insurance: signed, sealed, delivered
The ink has just dried on the deal that sees ownership of Provident move from troubled US firm Ally Financial to French company Covea. Daniel Dunkley reports on what the future holds for the motor insurer.
RIIG announces “marked improvement” in turnover
Claims management firm Resources in Insurance Group has announced that it will see an improvement in turnover and group profit for the first quarter 2011.
Career development & CSR: confidence in financial sector weakens further
Professionals working in insurance, banking and finance are becoming less confident in their sectors, according to analysis by Grant Thornton and ICAEW.
Co-op to increase aggregator usage
Co-operative Insurance has set its sights on growing its household book by widening its use of aggregators as a means of distribution.
Axa cuts to hit commercial
Sources close to Axa UK's personal lines division and broker Bluefin have insisted management cuts will only affect commercial lines.
Lloyd's motor result reflects 'torrid' time
Lloyd's finance director Luke Savage has said Lloyd's 2010 UK motor insurance result reflects the "torrid" experience of the whole market within that class of business. Its motor book reported an underwriting loss of £520m (2009: £83m loss) and a…
SPB reports revenue of €77.4m
Recent corporate acquisitions have boosted net revenue at SPB Group in 2010 to €77.4m.
Moody’s: Lloyd’s motor deterioration “alarming”
Moody’s has said the performance of the Lloyd’s market in 2010 - a £2.2bn profit before tax – “compares favourably” with its peers in the reinsurance and commercial markets, but warns of the “alarming” deterioration in its motor book.
LV Group bounces back from 2009 loss
Mutual insurance, retirement and investment group LV has recorded a result after tax of £21.3m for 2010, following a loss of £172.2m in 2009.
CGSC reports $68m ebitda in inaugural financials
Wholesale and reinsurance broker Cooper Gay Swett & Crawford has reported ebitda of $68m (£42.1m) in its inaugural financial results.