Company results
Amlin UK's motor income jumps by 36%
Amlin’s interim management statement for the period from 1 July 2010 revealed that its UK's gross written premium (GWP) grew to £248.8m (Q3 2009: £140m) despite a "mixed" trading environment.
Ageas' retail profit remains static while COR continues to improve
Ageas' quarter three results have shown its UK retail operations, RIAS, Kwik Fit Insurance Services and Ageas Insurance Solutions (UKAIS), have delivered a 32% increase in total inflows to £96m.
JLT trading performance "in line with expectations"
In a management statement for the period 1 July to 8 November, Jardine Lloyd Thompson (JLT) said it's trading performance is in line with expectations, that organic growth across the group is encouraging and that it remains on track to make financial…
Hiscox UK sees growth while group experiences slight dip
Hiscox’s interim management statement for the first nine months of the year to 30 September 2010 has revealed its UK retail business premium income has grown by 8.9% to £249.1m (2009: £228.7m) with the direct business growing by 22%.
Markel reports 13% rise in GWP
Markel International has reported a rise in gross written premiums (GWP) to $574m for the nine months ending 20 September 2010, compared to $510m for the same period last year.
RBSI reports £33m loss for Q3 2010
Royal Bank of Scotland Insurance (RBSI) has reported a £33m operating loss for Q3 2010, compared to a £203m loss in Q2 2010 and a £11m profit in Q3 2009.
RSA UK premiums increase 10%
The insurer has reported a 10% rise in premiums to £2.17bn for the nine months to 30 September 2010.
Aviva's Q3 UK GI premium soars 12%
In its UK general insurance business, Aviva has reported a 12% rise in net written premiums to £1.05bn in Q3, compared to £927m in the same period last year.
Apollo-CVC offer accepted
Brit Insurance has agreed a cash offer from Apollo Management and CVC Capital partners in a deal valued at about £888m, which will result in shareholders receiving up to £11 a share.
Advertising power acknowledged
Aggregators have admitted that their financial performance has become increasingly dependent upon the success of advertising campaigns.
Aon Q3 results show 8% fall in UK broking revenue
Aon has announced that income from its risk and insurance brokerage in the UK fell 8% to $148m for the third quarter of 2010 [Q3 2009: $167m].
Axa's UK personal motor revenues up 35% in first nine months 2010
Property & casualty revenues in the first nine months of 2010 were up 0.7% to €21.4bn across the group at Axa. The UK & Ireland saw a 1.4% increase compared to the same period of 2009 to €3.2bn.
Willis net income remains flat during first nine months
Willis has reported a drop in net income to $64m for Q3 2010 (Q3 2009: $78m) and net income for the nine months ending 30 September 2010 of $357m, which is the same figure as last year.
Transactor announces expansion plans as turnover rises 22%
Software provider Transactor has confirmed plans to grow from 55 to 200 brokers by 2016 as it announced an increase in turnover of 22% to £4.5m for the year ending March 2010.
Meerkat boosts BGL profits
The BGL Group’s financial results for the year July 2009 to June 2010 have revealed an increase in pre tax profit to £62m (H1 2009: £54m) but profit growth dipped to 16% (H1 2009: 24%).
Lloyd's profits drop by over 50%
After the "costliest" half year since it began interim reporting, Lloyd’s has reported that its profit before tax has more than halved to £628m (June 2009 £1.32bn) while the combined ratio has risen to 98.7% (June 2009 91.6%).
Brightside reports rise in revenue and profit
Brightside Group has reported a 24% rise in revenue to £26.6m for H1 2010 (H1 2009: 21.4m).
Acturis climbs Sunday Times technology league table
Software company Acturis has risen 10 places to 65 on the Sunday Times Microsoft Tech Track 100 league table.
Editor's comment - September 2010
So the private motor sector has finally been revealed as the insanely priced kamikaze market that many in the industry always thought it was.
Agenda: That elusive crock of gold
The consolidation of the retail broking sector started in 1998 with the creation of Towergate but gathered pace in early 2000 through to 2008. In that period, some £3.6bn of commercial business was acquired, which equates to 25% of the total commercial…
NIG exit sparks RSA return to personal lines
RSA has expressed a renewed appetite for personal lines business after admitting it had previously been "deliberately underweight" in this area.
Allianz head urges industry to match motor hikes
Allianz chief executive, Andrew Torrance, has called on the market to push up rates, as he promised further double digit increases in private motor in 2011.
RBSI puts operating loss down to bodily injury claims injection
The chief executive of Royal Bank of Scotland Insurance said its results were heavily impacted by the need to boost its reserves for bodily injury claims after reporting a £253m operating loss for H1 2010 (H1 2009: £217m profit).
Groupama reports stagnant broking revenues
Combined revenues of Groupama Insurances' UK broking businesses have remained relatively flat at £33.3m during H1 2010 (H1 2009: £34.1m).