Company results
Marsh reports 22% rise in operating income to $972m in 2010
Marsh & McLennan Companies has reported net income increased to $855m (£529m) in 2010 compared to $227m (£141m) in 2009.
Marsh reports 22% rise in operating income to $972m in 2010
Marsh & McLennan Companies has reported net income increased to $855m (£529m) in 2010 compared to $227m (£141m) in 2009.
Hyperion chair: IPO on track after 41% leap in EBITDA
Hyperion, the international insurance and re-insurance distribution group saw revenue increase 26% to £72.2m (2009: £57.2m) and EBITDA, excluding non-recurring items, rise by 41% to £12m (2009: £8.5m) for the year ended 30th September 2010.
Hyperion chair: IPO on track after 41% leap in EBITDA
Hyperion, the international insurance and re-insurance distribution group saw revenue increase 26% to £72.2m (2009: £57.2m) and EBITDA, excluding non-recurring items, rise by 41% to £12m (2009: £8.5m) for the year ended 30th September 2010.
IAG buys reserve deterioration reinsurance for UK arm after $121m loss
Insurance Australia Group has conceded that it will report "a greater than expected insurance loss" of $121m (£76m) from its UK operation when it unveils its half year results on 24 February 2011.
Zurich UK GWP suffers $400m dip
The UK arm of insurer Zurich has announced gross written premiums of $2.8bn (£1.7bn) for 2010 - around $400m down on the sum for 2009.
Willis aims for $180m in global cost savings to fund end to pay freeze
Willis in undertake a global review of its operations in the first quarter of 2011 to help fund the end to its salary freeze.
Catlin bolsters 2010 result with US$144m reserve releases
Catlin Group this morning reported a US$406m (£253m) pre tax profit before tax for 2010 (2009: US$603m).
Zurich GI profit falls 23% to $2.67bn due to major losses
Zurich has reported that its general insurance business operating profit fell 23% in 2010 to $2.67bn (£1.7bn) (2009: $3.46bn).
Zurich GI profit falls 23% to $2.67bn due to major losses
Zurich has reported that its general insurance business operating profit fell 23% in 2010 to $2.67bn (£1.7bn) (2009: $3.46bn).
Mapfre plans global roll out of Insure & Go model
Spanish insurer Mapfre has revealed that it is set for a global roll out of its direct-to-consumer travel products, following its acquisition of Insure & Go.
Beazley targets M&A in the wake of Solvency II
Beazley expects to reap "significant benefits" from merger & acquisition opportunities presented by Solvency II, if the new rules prove difficult to implement for some insurers.
Markel plays down losses from antipodean disasters
Markel International does not expect its future profits to be badly affected by the New Zealand earthquake and recent Queensland flooding, after previous catastrophe events added six points or $33m (£20.5m) to its 2010 full-year combined ratio.
Xchanging predicts year-on-year fall in 2011 profit
Xchanging chief executive and founder David Andrews has stepped down from the role of chief executive with immediate effect.
XL GWP flat as underwriting income falls
Property and Casualty insurer XL has recorded a combined operating ratio of 94.8% for 2010 (2009: 93.6%), while announcing it has received approval to offer insurance in China.
THB reports 32% rise in 2010 broking profit to £7m
THB this morning reported fee and commission income in 2010 was up by 5% at £48.4m (2009: £46.2m).
Aspen insurance division makes $23.6m underwriting loss in 2010
Aspen's insurance segment has made an underwriting loss of $23.6m in 2010, compared with an underwriting profit of $13.9m in 2009.
Beazley focuses on M&A as profit rises to $251m
Beazley has confirmed that acquiring businesses in its target markets remains a key priority despite its failed bid to acquire Lloyd’s competitor Hardy towards the end of last year.
Beazley focuses on M&A as profit rises to $251m
Beazley has confirmed that acquiring businesses in its target markets remains a key priority despite its failed bid to acquire Lloyd’s competitor Hardy towards the end of last year.
Aon hails affinity as it reports 6% rise in UK Q4 2010 organic growth
Aon has reported a 3% fall in UK retail broking income to $629m (£392.1m) in the year ended 31 December 2010 (2009: $650m).
Aon hails affinity as it reports 6% rise in UK Q4 2010 organic growth
Aon has reported a 3% fall in UK retail broking income to $629m (£392.1m) in the year ended 31 December 2010 (2009: $650m).
Munich Re unveils profit estimate for 2010
On the basis of preliminary estimates, Munich Re achieved a consolidated result of €2.43bn for 2010 (2009: €2.56bn), despite substantial major losses, it announced this morning.
Munich Re unveils profit estimate for 2010
On the basis of preliminary estimates, Munich Re achieved a consolidated result of €2.43bn for 2010 (2009: €2.56bn), despite substantial major losses, it announced this morning.
Jelf has big plans for personal lines in 2011
Jelf chief executive Alex Alway is targeting "aggressive organic growth" after its 2010 annual results revealed that the firm had reduced its debt and turned a 2009 loss into profit.