Company results
QBE to make full year loss after writedown
QBE has announced it will make a full year loss of $250m after a significant writedown on the value of its US operation.
Jelf insurance revenues up £2.2m in 2013 amid strong Purple Partnership performance
Jelf increased its EBITAE margin from 12.8% to 14% year on year within its insurance broking business in 2013, where revenues were also ahead of 2012 (£46.1m) at £48.3m for the full year ended 30 September.
Hodges plays down client money problems at Towergate
Towergate chief executive Mark Hodges has said that client money failings, which saw the broker misallocate £15m of client and insurer funds over four years, will have little impact on the business.
Towergate YTD earnings dip 3% as network earnings half
Operating earnings at Towergate have tumbled 3% for the first three quarters of the year, dipping from £120m to £116m.
DLG closing the gap on Admiral as dividend yield hits 7%
Direct Line Group has paid dividends of 16p per share in 2013 and has achieved a dividend yield of 7% for the year to date.
A-Plan reports 3% turnover increase and branch expansion
High-street insurance broker A-Plan has reported a turnover of £55.7m for the year ended 28 February 2013. The result represents a 3% increase from the £54.1m turnover reported in 2012.
Motor players facing 2013 profitability slump, claims report
Motor insurers are being dragged further away from profitability as a result of a combination of competitive pressure on pricing and firms over-estimating the impact of cost savings arising from civil litigation reforms.
Chesnara eyes further acquisitions as it posts EEV of £354m
Insurer focused investment firm Chesnara posted an increase in European Embedded Value to £354m for the first nine months of 2013.
Homeserve UK's revenue reduces amid continuing FCA investigation
Homeserve’s UK business has reported reduced revenue in the first half of 2013 to £127.2m from £134.5m in the same period of 2012.
DWF increases insurance income by 34%
Business law firm DWF’s insurance division has increased its income by 34% to £41m by diversifying and developing its core practice offering the firm said today.
Charles Taylor forecasts growth for adjusting business
Professional services firm Charles Taylor is readying itself for growth in its adjusting business following investment in people and assets.
Kiln CEO champions 'profit not premium' following underwriting improvements
Kiln chief executive Charles Franks has praised his firm’s “strict underwriting standards” amid a challenging market conditions, after syndicates were forecast to deliver a profit for the 2011 and 2012 years of account.
Talanx posts 8% increase in GWP in first nine months
German insurer giant Talanx posted an 8% increase in gross written premium in the first nine months of 2013 to €21.4bn.
Zurich reports £20m fall in UK GWP in first nine months
Zurich’s UK reported business operating profit of £113m in the first nine months of 2013, up 79% year on the same period in 2012.
Amlin records 9% increase in fleet motor rates for Q3
Amlin has recorded steady results for quarter three 2013 including stable improvement in its UK commercial business logging a 9% increase in fleet motor rates.
Zurich sees European GWP shrink in first nine months
Zurich's general insurance business recorded a 3% increase in gross written premiums and policy fees to $28.2bn (£17.57bn)in the first nine months of 2013.
Zurich records 2% profit increase to $3.6bn in Q3
Zurich's business operating profit increased by 2% at the end of Q3 2013 compared to the same time last year.
Scepticism remains over ‘underwriting discipline’ in Q3
Full-year results expected to take a hit from St Jude storm.
Esure posts 1.7% increase in GWP in Q3
Esure posted a 4.8% increase in gross written premiums to £427m in the first nine months of 2013, with motor recording a 4.8% increase and home up 4.2%.
RSA’s Lee facing ‘personal crisis’ amid share price drop and future uncertainty
Simon Lee’s position as RSA group chief executive is under threat following a week that saw the insurer issue two profit warnings, which triggered a share price plummet, market insiders have claimed.
Editor's comment: Pass me a fork
It appears you can teach an old dog new tricks. Not so long ago I used this space to berate insurers for their lack of action in commercial underwriting, with firms talking the talk but not walking the walk.
Allianz grows UK GWP by 1.8% in Q3
Allianz’s UK business reported a 1.8% increase in gross written premiums to £1.5bn in the third quarter of 2013.
Allianz grows UK GWP by 1.8% in Q3
Allianz’s UK business reported a 1.8% increase in gross written premiums to £1 459.7m in the third quarter of 2013.
Catlin boosted by “strong” underwriting, but investment returns remain low
Specialty insurer and reinsurer Catlin has unveiled increased gross written premiums, with rates also climbing, while investment returns have remained stubbornly low.