Company results
Aviva boss lists three reasons for fall in GI operating profits
Aviva's UK general insurance chief executive, David McMillan, said the dip in the insurers' general insurance and health operating profits was due to its decision to release fewer reserves this year.
Motor insurers' excuses for poor results rejected
Insurer claims that increases in bodily injury costs are to blame for poor performance in the private motor market may be misleading, according to industry experts.
CBG reports fall in revenue but rise in profit
CBG Group has reported an 11.6% fall in revenue to £4.09m for H1 2010 (H1 2009: £4.63m) following the disposal of “non-core elements” of its personal lines business in February this year.
Cobra returns to profit
Cobra Holdings has reported a pre-tax profit of £392,000 for the year ended 31 March 2010, compared to a loss of £23,000 the previous year.
LV reaps benefits of below average motor rate increases
LV has increased motor rates by 25% but its general insurance managing director John O'Roarke said that it has still been possible to write profitable business.
LV sees broker business soar by over 50%
LV’s results for the six months ending 30 June 2010 have revealed a 56% increase to £300.6m (H1 2009: £193.1m) in broker business.
Arista reports 21% rise in income for H1 2010
Commercial lines underwriting specialist Arista Insurance has recorded a 21% increase in income in the first half of 2010, compared with the same period last year.
Ecclesiastical reports interim losses
Ecclesiastical has announced a loss of £9.9m in the first half of 2010. The figure is in stark contrast to the same period in 2009 when the insurer made a profit of £25.7m.
Fall in profits and revenue at Confused.com
Price comparison website Confused has announced a 10% fall in revenue and 20% decline in profit during the first six months of the year.
Fortis reports return to profit in Q2 but trails behind last year's H1 result
The insurer reported profit before tax of £8.4m for Q2 2010, an improvement on the £3.2m loss made in Q1, but behind last year's H1 profit of £26m.
Admiral's H1 2010 profit grows to £126.9m
Admiral's group profit before tax has soared to £126.9m for H1 2010, a 21% increase on the same period last year (H1 2009: £105.3m).
Hiscox's H1 results reveal a fall in profits
Hiscox’s profits before tax have dropped to £97.2m (H1 2009: £141.1m) and the group combined ratio has increased by 5.8% to 93.6% (H1 2009: 87.8%).
QBE reports rise in European profits
QBE European Operations has reported a rise in pre-tax profit to US$222m for H1 2010, compared to $213m for the same period last year.
Allianz's half year results show GWP rise but profits drop
As part of Allianz’s half year results CEO Andrew Torrance has promised further double digit rate increases in private motor and said there was a “prospect of underwriting profit” in this area in 2011.
AIG's insurance operation Chartis maintains operating income while group makes loss
American International Group’s (AIG) general insurance operation Chartis, has reported operating income before net realised capital gains of $955m for Q2 2010 (Q2 2009: $1bn).
Groupama's broking business revenue remains flat
Combined revenues of Groupama Insurance's UK broking businesses have remained relatively flat at £33.3m during H1 2010 (H1 2009: £34.1m).
Allianz P&C profits increase
Operating profit in Allianz property and casualty (P&C) operations has grown by 28.2% to €1.14bn during Q2 2010, compared to the same period last year.
RBSI reports operating loss for Q2 2010
Royal Bank of Scotland Insurance (RBSI) made an operating loss of £203m during Q2 2010, compared to a £142m profit for the same period last year.
McMillan claims fall in Aviva's GI results is due to reserves
Speaking to Insurance Age, UK general insurance CEO David McMillan said the dip in Aviva’s UK general insurance and health underwriting results and operating profit was impacted by the insurer’s decision to release less reserves.
Novae reports rise in profits
Novae Group has reported an increase in profit before tax and foreign exchange movement on non-monetary items to £13.6m during H1 2010 (H1 2009: loss of £2.1m).
Aviva's UK general insurance profits rise to £197m in H1 2010
The insurers UK general insurance operating profits increased by 24% to £197m in H1 2010 (HY09: £159m) but Aviva's combined UK general insurance and health operating profit fell to £268m during H1 2010, compared to £284m in the same period last year.
RSA half year results show premiums up 9%
RSA has announced UK net written premiums of £1.5bn in the first half of 2010, up by 9% compared with the same period of 2009. However, it added its combined operating ratio had slipped from 97.4% to 98.9% for the comparable periods as a result of severe…
L&G insurance profits increase to £14m for H1 2010
Legal & General’s (L&G) insurance division has reported a rise in operating profit to £14m for H1 2010, compared to £6m for the same period last year.
Insurance revenue grows 9% at Moneysupermarket
Moneysupermarket has reported a 9% increase in insurance revenue to £40.6m for the six months to 30 June 2010 (H1 2009: £37.1m).