Company results
Lloyd’s notches up best interim COR since 2007 as profits grow
Lloyd’s has reported its combined operating ratio has improved to 83.7% in its half year results, its best interim COR since 2007.
Axa reveals 106.3% UK COR for 2023
Axa Insurance UK has posted an improved 106.3% combined operating ratio for 2023, trimming it from 109.8% the year before.
Ageas Retail revenue ticks up as profit rebounds
Ageas’ wholly owned broking subsidiary Ageas Retail grew post-tax profit by 20% in 2023 to £6.5m, switching back to growth after declining in 2022.
Ageas delivers 49% growth in UK premiums
Ageas boosted UK gross written premiums by 49% in the first half of 2024 to €992m (£835m) citing customer growth and rate increases primarily in motor with “solid underwriting profitability”.
Aviva UK&I GI boss Storah “bullish” commercial rates to hold steady throughout 2024
Aviva UK and Ireland general insurance CEO Jason Storah is confident that most of the wider commercial sector will continue to hold its nerve over rate and not chase short-term market gains – for now, at least.
30% premium growth sees Aviva UK&I PL arm overtake commercial at HY 2024
Aviva has reported that its UK & Ireland premiums increased 18% to £3,809m in the first six months of 2024 (HY23: £3,219m) with strong growth across all business lines, especially personal.
Broker branches a key focus for Allianz in 2024, CEO Holmes promises
“I want to expand the amount of branches we have where we’re connecting with customers,” Allianz UK CEO Colm Holmes told Insurance Age.
Allianz UK grows GWP and profit as COR improves
Allianz UK boosted gross written premiums by 5.5% in the first half of the year to £2.21bn as operating profit jumped by £62m to £174.8m.
CUO hails deals as proof of improved broker sentiment towards Hiscox
Hiscox’s “momentum” with UK brokers has been further underlined by six new distributions deals signed in the first half of 2024.
Lycetts grows turnover and operating profit in 2023
Newcastle-headquartered Lycetts grew turnover by 15.8% to £25.1m and operating profits by 20.7% to £3.77m in 2023.
Gallagher holds steady on organic growth in Q2
Gallagher achieved 7% organic revenue growth in its UK and Ireland retail division in the second quarter of 2024, up from 6% in Q1.
Academy turnover dipped in run-up to Blixt buy
Academy Insurance Services’ turnover and profitability fell in the run-up to being bought by private equity house Blixt, according to a filing at Companies House.
Verlingue maintains profits as turnover ticks up in 2023
Verlingue UK grew turnover by 8% in 2023 to £21.07m as post-tax profits remained stable.
Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
PIB reveals costs of record 26 deals in 2023
PIB spent £331.9m on a record 26 deals in 2023 as the consolidator expanded in the UK and across Europe.
Biba grows member funds to almost £5.8m
The British Insurance Brokers’ Association has revealed a 13% increase in members funds to £5.78m at the end of 2023.
Thomas Carroll posts revenue growth in landmark employee ownership year
Thomas Carroll grew turnover 1.9% to £14.58m in a “historic year” when it switched to an employee ownership model.
Acturis maintains growth streak with 19% revenue expansion
Acturis has posted a £22.75m rise in revenue for 2023 to £144.1m, its 22nd consecutive year of growth.
CDL grows revenue but profit drops for second year in a row
CDL grew revenue by 6.9% to £59.54m in the year ended 30 September 2023, however profit after tax dropped for the second consecutive year to £10.01m.
Devitt posts rises in year of MCE collapse
Motorcycle specialist Devitt Insurance Services grew turnover by 3.3% in 2023 as profits leapt to £4.03m.
Filing pinpoints Arag growth in 2023
Arag boosted the number of risks placed by 3.6% in 2023 to 3.09m, a filing at Companies House has revealed.
Lloyd & Whyte 2023 deal totals revealed
Lloyd & Whyte made four acquisitions in 2023 at a cost of £6.5m, as the previous purchase of SEIB helped boost turnover to £47.93m.
Patons increases GWP by more than 18%
Patons Insurance’s gross written premiums rose by 18.42% organically to £27m in the financial year to March 2024 – a record high.
Simply Business boosts profit 42% in 2023
Xbridge, which trades as Simply Business, achieved double-digit profit and revenue growth in 2023.