Experts have predicted an increase in partnerships in the insurance industry but do not see another joint venture on the horizon, as Tesco gears up to buy out Ageas' share of their Tesco Underwriting joint venture.
Allianz reported operating profit of £100m for the year to date in its Q3 results, with its combined operating ratio slipping to 96.5% from 95.7% at the half year.
Lancashire has appointed its UK chief underwriting officer from within, with incumbent Hayley Johnston set to become CEO of its Bermuda arm.
Munich Re reported "relatively high" man-made major loss claims, which were more than four times the hit it took in Q3 last year.
RSA UK has booked £8m in restructuring charges for the third quarter, as overall the group reported its operating profit was up.
2018 was a volatile year for Asian insurers with the majority of them posting declines in gross written premium or sluggish growth. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, explains the challenges they are facing.
Hiscox has reserved $165m to cover claims from Hurricane Dorian and Typhoons Faxai and Hagibis, while reporting it expects to see fees and profit commissions dip $25m this year.
Swiss Re has cancelled a share buy-back programme, following a hit from natural catastrophes, capital deployment and the suspension of Reassure's initial public offering.
A long-awaited judgment in the legal wrangle between Ardonagh and Gallagher came today, clearing Ardonagh of wrongdoing.
This year Hastings has priorititised pricing discipline amid a regulatory probe into pricing practices and rising claims inflation, leading to a drop in its competitiveness for new business.
Travelers saw an underwriting loss of $149m in Q3 this year, as its results were hit by a “challenging” tort environment, weather and “unfavourable” reserve development in business insurance.
Seventeen Group, which includes brokers James Hallam and MGA Touchstone Underwriting, saw its pre-tax profits dip by 36% to £812,716 in 2018.
Arron Banks-owned Eldon Insurance saw profit more than double in 2018, but losses at his insurer Southern Rock increased.
The London Market Target Operating Model is to be wound down and its work to be continued as part of the Future at Lloyd’s market modernisation drive.
Saga has warned of lower margins in insurance even as it saw a surge in its fixed price policy product, which was launched in the wake of backlash against industry dual pricing practices.
Lloyd’s is beginning to see the green shoots of improved underwriting thanks to stringent business planning measures, executives have said following the market’s interim results.
Lloyd’s recorded pre-tax profits of £2.3bn in the first six months of 2019, with strong investment returns offsetting a year-on-year deterioration in underwriting profitability.
RSA UK & International has merged its Commercial Risk Solutions and Global Risk Solutions businesses to create a single business unit focused on commercial lines, as it seeks to regain profitability.
Charles Taylor saw a pre-tax loss of £2.1m as the group announced the sale of its managing agency to Premia Holdings.
Gross written premium reported by the 30 largest European insurers in 2018 was 4.4% higher than the aggregated figure for the previous year but those writing significant business outside of the eurozone have seen foreign exchange rate movements having an…
Brightside will further invest to grow its managing general agent Kitsune this year, as the number of wholesale brokers with agencies reached 13.
Legal expenses insurer Das UK returned to profitability last year, recording a combined ratio below 100% for the first time since 2014.
Ardonagh group has confirmed the closure of all Swinton branches as the integration of the business is almost complete.
Ardonagh Group has posted a loss of £44.5m for the first six months of 2019, an increase of £11.7m on the £32.8m loss reported for the same period last year.