Company results
Amlin blames earthquakes for £250m drop in profit
Amlin will monitor rate increases in earthquake zones in 2011, after blaming significant catastrophe activity for a £250m drop in profit for 2010.
Admiral not confused over aggregator
Admiral has vowed to retain Confused, despite the aggregator’s profit falling by 54% in the past three years.
Chaucer profits fall due to cat exposure
Chaucer has attributed its fall in profit and property underwriting loss to its exposure to global catastrophes.
Ageas UK reports £16.6m GI loss in 2010, after Q4 weather claims hit
Ageas UK's general insurance made a loss of £16.6m on gross written premium of £925.1m (an increase of 14.9% on 2009) in 2010.
Omega board laments “baptism of fire” as profits fall $84.4m in 2010
Omega Insurance has recorded a loss of $42.8m – a sharp fall from the $43.6m profit recorded in 2009.
Interview - Jason Stockwood: A match made in heaven
Moving from the online dating world to insurance broking seems an unusual step. Jason Stockwood explains to Daniel Dunkley what he can bring to the sector.
Southern hemisphere catastrophe events hit Beazley syndicate
Beazley Syndicate 623, which writes business on behalf of Names at Lloyd’s, has reported a 13.4% return on capacity for the 2008 underwriting year (previously 10%).
Liberty outlines mid-corporate aspirations
Liberty Mutual Insurance Europe has outlined plans to expand into commercial lines mid-markets.
Chaucer reports £32.9m profit
Chaucer has reported profit before tax and foreign exchange on non-monetary items of £34.8m (2009 £75.3m) and profit before tax of £32.9m (2009 £42.0m).
Novae considers move abroad
Novae Group's underlying profit before tax has improved 105% year-on-year to £36.2m (2009: £17.7m).
Novae considers move abroad
Novae Group's underlying profit before tax has improved 105% year-on-year to £36.2m (2009: £17.7m).
Amlin hit by retro quake losses
Amlin’s results “beat consensus”, albeit driven by reserve releases, while its 88% combined ratio in difficult conditions was “impressive”, according to analysts at Jefferies International.
Hardy profit halves to £10m
Hardy has reported gross written premium of £279.4m (2009: £242m) and before tax of £10m (2009: £20.1m).
Hardy profit halves to £10m
Hardy has reported gross written premium of £279.4m (2009: £242m) and before tax of £10m (2009: £20.1m).
Aviva UK GI profit improves to £579m
Aviva’s UK general insurance and health business reported £4.54bn in net written premium in 2010 (2009: £4.30bn) and an operating profit of £579m (2009: £535m).
Allianz: double-digit rate rises needed
Allianz is set to apply rate increases of up to 10% on its commercial and retail books to return to profitability.
JLT extends 'firepower' to £350m as bolt-on buys beckon
Jardine Lloyd Thompson has extended its unutilised debt facility beyond the £200m mark in order to fund new acquisitions.
Brit takeover to complete within two weeks
The takeover of Brit by Achilles is "ahead of schedule", with the deal expected to close in the next two weeks.
RBSI CEO Geddes reveals plan to float in tranches
Royal Bank of Scotland Insurance chief executive Paul Geddes has revealed that if it decides to go down the initial public offering route in 2012, this will probably be done in a number of tranches, rather than one offering.
Hiscox targets political unrest for opportunities
Hiscox is looking for underwriting opportunities arising from the political unrest in the Middle East and North Africa.
Prior reserve release staves off RSA underwriting loss
Prior year reserve releases of £267m have helped insurer RSA avoid posting an underwriting loss of £29m for 2010.
New rating factors needed after European gender ban – Insurance News Now – 2 March 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories including what the ECJ’s ruling that a person’s gender can no longer be used to calculate insurance premiums or annuity rates will mean for insurers.
Admiral UK profit rises to £276m
Admiral has reported group profit before tax increased 23% at £266m (2009: £216m) while turnover (defined as total premiums written including co-insurers’ share and other revenue) rose 47% to £1.58bn (2009: £1.08bn).
AI Claims doubles H2 pre-tax profit
Accident management company AI Claims Solutions has posted a pre-tax profit of £1.6m for the second half of 2010 up 97% on the same figure for H2 2009 (£855 000).