Company results
Dwindling reserves could put pressure on profitability says Moody's
The pace of reserve releases for non-life European insurers will continue to slow into 2013 as the effects of the general market downturn from 2005-09 continue to play out, according to Moody's.
Post Intelligence – company profile: Lockton
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report studies Lockton’s global strategy and operations.
Giles CFO blames ownership structure for debt increase as backer seeks sale
Analyst confident potential buyers won’t be put off by financial results
European non-life premiums up 3% in 2012 to €459bn
New figures published today by Insurance Europe show a provisional increase in total European gross written premiums of 1.6% at constant exchange rates in 2012. This follows a decline in premiums of over 2% in 2011.
Randall & Quilter upbeat ahead of AGM
Randall & Quilter's first half financial result is expected to be in line with the board's expectations, according to chairman and chief executive Ken Randall.
Swiss group Baloise to close Bremen and Nuremberg offices with 400 job cuts
Baloise is to close two German offices with the loss of up to 400 jobs.
Garwyn Group reveals £4.25m of cost savings in 2012 as it returns to profit
Garwyn Group has returned to profit after revealing savings of £4.25m in 2012 when it cut its headcount by 53 to 164.
Pay for Quindell executives more than doubles in 2012
The amount pocketed by Quindell Portfolio executive duo Rob Terry and Laurence Moorse more than doubled last year, according the outsourcer’s annual report.
Giles parent reports £40m loss as debts continue to grow
Expectrum, the parent of broker Giles, has reported a pre-tax loss of £39.5m for the year ended 31 August 2012, alongside climbing net debts.
Giles Insurance Brokers reports £2.25m loss
Giles Insurance Brokers has reported a £2.25m loss for the year to 31 August in 2012 compared to a profit of £998 000 in the previous year.
BP Marsh ready to sign another deal
BP Marsh chairman Brian Marsh has said he expects to sign a new deal tomorrow [4 June] following publication of his firm's financial results.
'Major changes' on horizon for BP Marsh
BP Marsh & Partners has reported a 10.6% increase in net asset value to £55.5m for the year to 31 January 2013 (2012: £50.1m) and net asset value per share of 190p (2012: 171p).
Hellenic P&I club waives 50% of annual premium
Members of the Hellenic War Risks Club will pay 50% less for war risks insurance in 2013 following a decision by club directors to waive the second installment of the annual premium.
Arista reports boosted £1.7m Ebitda in 2012
Commercial lines underwriting specialist Arista Insurance has posted an Ebitda of £1.709m for 2012, up from the £1.334m achieved in 2011.
Post Intelligence – company profile: The John Lewis Partnership
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report studies the John Lewis Partnership’s strategy and operations.
Post Intelligence – company profile: Lloyds Banking Group
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report studies Lloyds Banking Group’s strategy, operations and financial performance.
Post Intelligence – company profile: Barclays
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report highlights Barclays’ strategy and performance in 2013.
Post Intelligence – company profile: Ageas
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report highlights Ageas’ strategy and performance in 2012.
Post Intelligence – company profile: QBE Europe
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report studies QBE Europe’s strategy and operations in 2012.
Post Intelligence – company profile: Allianz
Produced by Post Intelligence in association with Brook Intelligence, this comprehensive company report highlights Allianz SE’s strategy and performance in 2012.
Giles reports 2012 Ebitda up 3%
Independent broker Giles has reported increased earnings for the year to 31 August 2012, driven by new business launches and an acquisition.
Profits on the rise in Indonesia
The general insurance industry in Indonesia saw net profits rise 22% last year when compared to 2011.
VIG increases profit but posts fall in premium in Q1
Vienna Insurance Group increased profit before taxes by 5.2% to €159.4m in the first quarter of 2013.
Triple merger takes its toll on Covea's 2012 pre-tax profit
Covea Insurance saw its pre-tax profit plummet by almost 50% last year, as merger activity took its toll on the firm’s full year results.