Company results
Tesco helps Ageas profit grow 81%
Ageas UK has increased profit and income in the first half of the year in the face of tough market conditions and severe weather events.
Chartis International returns to profit in H1 2012 with 16 point COR swing
Chartis International has reported an operating income before net realised gains of $802m for the first six months of 2012 (2011 H1 $480m loss) on net premiums written of $9.33bn (2011 H1: $9.25bn).
Axa CEO Evans hits back at U-turn criticism as he reveals telematics delay
Axa UK and Ireland CEO Paul Evans has hit back at criticism that he has performed a U-turn by bringing the personal and commercial broker businesses back together again under Amanda Blanc.
Geddes unmoved by PE takeover talk as DLG divestment date looms
Direct Line Group chief executive Paul Geddes has distanced himself from speculation linking the business with a private equity-backed divestment, insisting that his focus remains on securing a second-half public flotation.
Novae calls time on engineering and motor reinsurance
Novae is to replace 12 of the 17 Zurich-based reinsurance underwriters who exited the business earlier this year, conceding that the Swiss operation was "overstaffed".
Axa posts fall in net income in H1
French insurance group Axa saw net income fall to €2.6bn from €4.0bn in the first half of 2012 owing to a non-repeat of the exceptional gains on disposals in 2011.
Allianz UK continues upwards trend, despite fractional COR rise
Allianz UK has chalked up an operating profit of €92m (£72.4m) for the first half of 2012, alongside a marginal combined ratio rise to 96.8%.
Allianz Group 'robust' despite lower operating profit in P&C
Allianz Group has posted revenues of €25.2bn in the second quarter of 2012, up 2.5%, or €24.6bn, on the same period in 2011.
Aviva COR to surpass 99% following floods, claims analyst
Aviva's general insurance result is predicted to fall 5% year on year as a result of recent unseasonable UK weather.
Novae back in profit at H1 2012 as new strategy remains 'on track'
Novae Group has this morning reported a profit before tax, foreign exchange losses on non-monetary items and non-recurring items for the first six months of 2012 of £19.6m (H1 2011: loss £30.1m).
Axa UK & Ireland COR rises above 100% in H1 after £36m flood hit
Axa UK & Ireland has reported that underlying earnings for the first six months of 2012 improved by 27% to £66m (H1 2011: £52m).
Generali board officially appoints Greco as group CEO
The board of directors of Assicurazioni Generali co-opted Mario Greco, and appointed him to the posts of group CEO and general manager of the company, at a meeting chaired by Gabriele Galateri di Genola.
Italian quakes and UK floods hit RSA's H1 result
RSA continues to expect overseas operations to be 70% of group premiums by 2015, following strong performances in its international segments in the first half.
Willis' European growth held back by declines in Spain and Netherlands
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
UK flood loss offsets growth for RSA
RSA has reported a 4% rise in net written premium to £4.3bn, at constant exchange (2% as reported), and a combined operating ratio of 95.2% (H1 2011: 93.2%).
Plumeri admits Willis' mettle has been 'tested' as revenue remains flat
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Aon looking ahead despite drop in half-year income
Aon's operating income from continuing operations fell 3% to $504m (£321m) in the first half of 2012, compared with $518m in the same period in 2011, despite total revenue growth of 2% to $5.66bn (H1 2011: $5.57bn).
JLT enjoys revenue boost in broking as economy afflicts underwriting
Jardine Lloyd Thompson's risk and insurance business generated revenue growth of 8% to £331.6m, while trading profit increased to £80.3m (H1 2011: £70.4m) in the first half of 2012.
LV reduces broker rates after losing out to competitors
Uncertainty in the general personal lines market has led LV to reverse its strategy of hardening rates after the company's PL broker book lost out to competitors in the first half of the year.
Heath Lambert integration costs fail to halt Gallagher growth momentum
Arthur J Gallagher has chalked up a strong first half to the year, despite the continued Heath Lambert integration costing the business $3.3m (£2.1m) in H1 2012 - a $1.5m rise on the same period last year.
Xchanging operating profit hits £14m, but results fall below expectations
Insurance solutions provider Xchanging posted a statutory operating profit of £14m for the first six months of 2012, representing an increase of £10.8m on last year.
US P&C book supports HCC growth
HCC's gross written premium increased 7% to $1.5bn in the first six months of the year compared with $1.4bn in the first half of 2011.
Biba turnover jumps to £3.2m in 2011
The British Insurance Brokers' Association posted turnover of £3.2m for 2011, an increase of 14% on 2010.
LV profit stable while GWP rises 6%
LV's general insurance business has reported 6% growth in gross written premium income to £747m (H1 2011: £704m) in the first half of the year.