Company results
Allianz boss backs rate increases to fuel return to profit
Allianz Insurance chief executive Andrew Torrance has revealed it could implement rate increases of up to 25% in its broker motor book during 2010.
Acromas claims anti-PE bias amid reported loss
Acromas Holdings, the parent group of insurance providers AA and Saga, has claimed "scaremongering" against private equity houses has seen the ongoing performance of the business masked by a £529m overall loss, caused by interest repayments.
Rok looks for new FD in wake of £3m loss
Rok has recorded a pre-tax loss of £3m for the first half of 2010, following the suspension of its finance director for failings in the control of its plumbing, heating and electrical business.
Danish insurer Tryg Vesta recovering from "extraordinary" claims
Danish insurance group Tryg Vesta has reported that the business is back on track after a first quarter "where extraordinary winter claims caused a loss on the insurance business".
Rok records a pre-tax loss of £3m
Rok has announced its results for the six months ended 30 June 2010.
Eureko benefits from PZU settlement with H1 2010 profit leap
European insurance group Eureko this morning reported a net profit of €864m for the first six months of 2010.
Zurich recruits new investor relations head
Zurich Financial Services Group has today announced the appointment of Debra Broek, currently deputy head of investor relations and rating agency management, to the position of head of investor relations and rating agency management, effective 1…
RSA still "open" to Aviva talks claiming its £5bn offer is "fair value"
RSA has said it "remains open to discussions" with Aviva, despite the group's rebuttal of its £5bn offer.
Allianz UK COR remains steady at 95.3% as profits drop for H1 2010
Allianz has recorded a reduced profit before tax of £78.4m (H1 2009: £88.3m) for H1 2010, as the insurer’s combined operating ratio deteriorated slightly to 95.3% (H1 2009: 94.9%).
Omega warns of $35m expected loss
Omega expects to report a loss before tax of approximately $35m for the first half of 2010.
No job cuts at Autofocus
The new owner of Autofocus has pledged that there will be no redundancies after rescuing the business, just days after it went into administration.
Sampo profit rises to Euro 621m in first half of 2010
Scandanavian insurance group Sampo's profit before tax for the first six months of 2010 rose to Euro 621m (H1 2009: Euros 433m).
Sampo profit rises to Euro 621m in first half of 2010
Scandanavian insurance group Sampo's profit before tax for the first six months of 2010 rose to Euro 621m (H1 2009: Euros 433m).
Bupa CEO confident of new opportunities as H1 results show revenue up 10%
Bupa this morning reported revenues up 10% to £3.71bn, driven by organic growth of 4% and favourable foreign exchange movements of 6%.
Crawford results show $2.5m net loss
Loss adjuster Crawford & Company has reported consolidated revenues before reimbursements of $238.2m in the second quarter of 2010 compared to $249.7m in the same period of 2009.
Hannover Re profits hit by major losses in H1 2010 results
Hannover Re has reported that it booked gross written premium totalling €5.7bn as at 30 June 2010, an increase of 8.2% relative to the corresponding period of the previous year.
News analysis - accounting changes: A new standard
Afer a decade of delay, a truly international accounting standard for insurance contracts appears to be taking shape. Neil Coulson details the latest developments.
Deepwater Horizon prompts Catlin offshore energy u-turn
Catlin Group has reversed its decision to withdraw from the offshore energy market as the Deepwater Horizon disaster has caused rates to turn.
Groupama boss hails effort in stopping motor 'bleeding'
Groupama chief executive François-Xavier Boisseau has said the insurer has gone some way to stopping the "bleeding" of its private motor account, as it reported its results for the first half of 2010.
Editor's comment - RBSI: happy at home
Following the announcements of staff cuts and the possible withdrawal of NIG from personal lines, Royal Bank of Scotland Insurance showed its hand this week, and it was — to say the least — a little soiled by bodily injury claim losses.
Aviva looks to build on Santander tie-up
Aviva is set to build up its affinity partnerships, starting with the banking sector, by developing more cross-selling opportunities across its general insurance and life businesses.
Axa chief hails 'one-off' CL opportunity
Axa Insurance is preparing to unveil a restructure of its commercial division after revenues in the first six months fell by 18% year-on-year.
RBSI CEO cries injustice as it is hit with 30 PPOs
Royal Bank of Scotland Insurance's decision to strengthen its reserves by £320m in lieu of bodily injury claims has contributed to an operating loss of £253m in the first six months of the year.
Markel International profits hit by major losses in H1 2010
Markel International reported gross written premiums of $395.3m for the six months to 30 June 2010, compared to $358.1m for the first half of 2009.