Company results
Generali GI premiums down in 2009
During 2009, performance slipped in motor policies (-2.4%), affected by the trend in policy rates, particularly in the first nine months, Generali added, and the decrease in new vehicle registrations.
Generali GI premiums down in 2009
During 2009, performance slipped in motor policies (-2.4%), affected by the trend in policy rates, particularly in the first nine months, Generali added, and the decrease in new vehicle registrations.
QBE Europe profits dip on back of increased claims
The business reported a rise in incurred claims to A$2.01bn (2008: A$1.76bn), whilst its expenses reduced to A$426m (2008: A$483m).
Lloyds GI book hit by £156m rise in claims
The group saw its general insurance profit dip 32% in 2009 to £367m (2008: 537m) and overall insurance arm profit fall 34% to £1.2bn (2008: £1.54bn).
Brit post-tax profits grow 30%
Brit Insurance has announced a post-tax profit of £87.5m for 2009 – an increase of more than 30% on the £66.6m for 2008.
RSA bullish despite 10% fall in operating profit
CEO Andy Haste hails progress in emerging markets and international arms.
RSA bullish despite 10% fall in operating profit
CEO Andy Haste hails progress in emerging markets and international arms.
Pick of the week
Post reporter Amy Ellis outlines some of the major stories from this week's issue of Post Magazine.
HCC net earnings up $13.2m for Q4 2009
HCC Insurance holdings has announced its earnings for the fourth quarter and full year 2009, which ended December 31.
Jelf looks to raise a further £17m after reporting a £9.7m loss in 2009
It is expected that any placing would be conducted at or around the price of 36 pence per ordinary share and would be subject to shareholder approval at a general meeting.
Moneysupermarket sees insurance transactions fall 14% in 2008
However, insurance made up 55% of the revenue (£75.7m), compared to 44% in 2008 despite a slight drop from £77.7m that year.
Axa UK GI earnings dip 63% after £157m fire and weather losses.
Globally, Axa Group reported underlying earnings down 6% to €3854m versus 2008, adjusted earnings down 8% to €3468m and net income up 283% to €3606m (on a comparable basis).
Kerry London winding-up order an "oversight" as firm looks to buy
Kerry London group chief executive Damian Kissane has dismissed a recent winding-up order from Companies House as an "administrative oversight", after it avoided being struck off the register through remedial steps.
Arig reports $21.9m profit
Profit in sharp comparison to loss of $28.6m in 2008, driven by the improvement in Arig’s reinsurance book and investment income.
L&G reports 8% dip in general insurance
Insurer said it had prioritised profitability over volume and positioned itself to target profitable opportunities in 2010.
Private equity-backed Merlin reports £61.9m loss
Merlin's turnover fell to £64.9m from £65.6m in its last financial year and, as of 30 April 2009, had net liabilities of £73.2m.
Catlin boasts of record profit
The Lloyd's insurer saw a 12% increase in gross premiums written to US$3.7bn on constant currency basis; and an 8% increase on a reported basis (2008: US$3.4bn) and recorded a 89% combined ratio (2008: 95%).
Insurecom is 'go-to' firm
The chief executive of insurance software specialist Insurecom has boasted that his firm is now the 'go-to' technology company for insurers looking to distribute new products to brokers.
Beazley GWP rises by 27%
Dublin-domiciled Beazley has reported pre-tax profit up 15% to £100.7m (2008: £87.2m) and an underlying profit before income tax up 259% to £147.3m (2008: £41.0m).
Markel returns to profit in 2009
Markel Corporation has attributed the swing of almost $1bn (£640m) from loss to profit during 2009 to "significantly higher" investment returns than its competitors.
Zurich sees COR rise past break-even point
Zurich aims to reduce the combined operating ratio in its UK general insurance business in 2010 after it deteriorated beyond the break-even point due to rising expenses.
Adjusting giant Crawford reports $115.7m loss for 2009
The loss includes a non cash impairment charges of $140.9m, primarily related to goodwill in the company's Broadspire arm.
Zurich UK reports £2bn GWP
Zurich UK General Insurance has reported gross written premiums and policy fees of £2.03bn ($3.18bn). Net earned premiums and policy fees were £1.96bn ($3.07bn) and the business operating profit was £146m ($229m).
Aon reports drop in UK revenue
Aon has reported that UK organic revenue decreased 9% in the final quarter of 2009 due to weak economic conditions, soft pricing and lower new business.