Company results
Cooper Gay revenue grows 29%
Cooper Gay has reported its annual results for the financial year ending 31 December 2009.
Beazley changes reporting currency
Lloyd's insurer Beazley is to change its reporting currency to US dollars for the 2010 financial year onward.
Sagicor revenue climbs to $1.2bn
The Sagicor Group of Companies reported total revenue for the year climbed to $1.2bn (£781m) from $1.1bn for the previous year. Premium revenue, net of reinsurance, grew by $130.9m or 18.4% to reach $842.9m.
Sean Quinn admits insurer is losing "an absolute fortune" due to uncertainty
The founder of the Quinn Group has admitted his insurance company is "losing an absolute fortune" in administration, with revenue dropping by as much as 80%.
Sean Quinn admits insurer is losing "an absolute fortune" due to uncertainty
The founder of the Quinn Group has admitted his insurance company is "losing an absolute fortune" in administration, with revenue dropping by as much as 80%.
Aon Benfield: Reinsurers see capital recovery
Global reinsurance capital recovered to $396bn at year end and nearing the record levels set in 2007, according to Aon Benfield’s latest research report.
Growth plan at Brightside
Brightside has targeted 20% growth in 2010 after posting a record revenue of £44.7m for 2009. Overall revenue increased by 35% (2008: £33.2m).
Brightside delivers £4.7m post tax profit
Brightside Group revenue increased by 35% to £44.7m (2008: £33.2m) in 2010. EBITDA before exceptional items and share based payments expense increased by 26% to £9.7m (2008: £7.7m).
Hartford repurchases $3.4bn of shares from US government
Hartford Financial Services repurchases preferred shares from the US government ending a taxpayer-funded bailout after reporting Q4 profit.
Swiss insurer refinances bond with new issue
Swiss insurance group Helvetia Holding today issued a bond with a volume of CHF 150m and a term of three years.
Swiss insurer refinances bond with new issue
Swiss insurance group Helvetia Holding today issued a bond with a volume of CHF 150m and a term of three years.
EMB warns Lloyd's about taking its "eye off the ball"
Even after record aggregate profits announced by Lloyd’s for 2009, some market segments cannot afford to take their eye off the ball according to EMB, the actuarial and business consultancy.
GI market to suffer
The UK general insurance market is likely to suffer from a decrease in investment returns and greater claims inflation in 2010, according to Pricewaterhouse Coopers.
Tawa reports results upswing
Insurance services group reports profits of $11.2m in sharp contrast to loss of $42.4m in 2008
Zurich to restate results after changing US accounting
Zurich has decided to implement a hedging strategy which it claims will better manage its economic exposure and reduce the volatility associated with its closed block of variable annuities products within its US life business.
Zurich to restate results after changing US accounting
Zurich has decided to implement a hedging strategy which it claims will better manage its economic exposure and reduce the volatility associated with its closed block of variable annuities products within its US life business.
CBG reacts to drop in profits with rebrand
CBG is to undergo a “total rebrand” and change of chairman after posting a reduced profit for 2009. The Manchester-based broking group saw adjusted pre-tax profits halve to £1.02m (2008: £2.46m) while revenue fell to £8.96m in 2009 (2008: £11.15m).
Co-op GI boss hails the "renaissance" of the group
The Co-operative Financial Services' increase in general insurance premiums of £29.9m in 2009, is part of the "renaissance of the overall group", according to David Neave.
L&G puts "too cheap" tag to bed with 6% rises
Legal & General's general insurance managing director had hailed its actions in the broker channel as the key behind its return to black in 2009.
Ecclesiastical chief expects difficult 2010
Ecclesiastical group chief executive Michael Tripp has admitted 2010 could be tougher after posting improved profit for 2009.
Ecclesiastical reports £100m swing in profits
Specialist insurer Ecclesiastical has announced a net profit of £79m for 2009 - a swing of almost £100m after a loss of £22.5m in 2008.
Abbey looking forward to 2010 "with confidence" after £8.7m profit
Abbey Protection saw a 6% growth in pre-tax profits to £8.7m in 2009, on revenue (before investment income) up 15% to £32.5m.
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".