Company results
Aviva Ireland job losses will be lower than expected
Aviva Ireland is to reduce the number of jobs it is cutting, but staff may instead face lower pay, the Irish Independent has reported.
Aviva's McMillan hails personal lines performance as commercial COR hits 105%
David McMillan, CEO of Aviva UK’s general insurance operation, has revealed that, despite a positive set of 2011 results, commercial lines continues to drag at the overall performance.
Aviva UK business grows but profits dip
Aviva UK’s general insurance business delivered higher growth but lower profits in 2011 as it managed to pin its combined operating ratio to 2010 levels.
Quinn purchaser sees net income slump
Liberty Mutual Holding has reported a 78.2% fall in net income to $365m (£232m) in 2011 from $1.68bn the previous year.
Momentum posts start-up losses
Momentum has revealed it lost £289,993 between 15 December 2010 when it began trading and 30 September 2011.
Omega posts 134% COR
Omega Insurance Holdings has reported a $94.7m (£60.1m) loss before tax for 2011, more than double the $42.9m it lost in the previous year.
Amlin chairman set to retire as results show near £200m loss
Amlin has reported pre-tax losses of £193.8m for 2011, compared to a profit of £259.2m for 2010.
Ai Claims sees slip in profit and revenue
Ai Claims Solutions has reported a fall in profit to £858,000 in the six months to December 2011 compared to £1.2m in the same period of 2010.
JLT delivers good revenue and profit growth for 2011
Jardine Lloyd Thompson (JLT) has followed the trend of positive financial results in the insurance market with a 13% hike in profits before tax to £147.6m for 2011.
Commercial faces long road to hardening rates
Despite insurers announcing improved profitability last year, the commercial market still faces tough trading conditions
Brit profits fall and drag COR with them
Brit has announced falls in gross written premiums (GWP) and pre-tax profits along with a worsening combined operating ratio (COR) in its results for 2011.
Allianz chief sees room for underwriting improvement despite good results
Allianz UK CEO, Andrew Torrance, has conceded that the insurer’s underwriting performance is not good enough despite recording top line and profit growth and producing an overall combined operating ratio (COR) of 95.7% and a commercial one of 94%.
O’Roarke reveals targets for 2012
John O’Roarke, managing director of LV general insurance, has revealed the insurer is targeting an increase in profit of at least 20% in 2012.
Allianz UK sees growth across the board
Allianz UK has revealed increased gross written premium, higher operating profits and an improved combined operating ratio in its 2011 results.
LV doubles insurance profits as COR improves
LV has reported a doubling in general insurance profits before tax to £70m in 2011 from £35m the previous year.
Hiscox remains in profit despite cat losses as chairman steps down
Hiscox has reported a pre-tax profit of £17.3m for 2011, down from £211.4m the previous year, as the company’s chairman Robert Hiscox announced his intention to step down.
Chartis turns from loss to profit
American International Group (AIG) has revealed that subsidiary insurer Chartis, the general insurance arm of the global business, made an operating profit of $1.12bn (£709m) in 2011 reversing its loss of $1.07bn the previous year.
Lloyds Bank losses hit £3.5bn after PPI mis-selling
Lloyds Bank has confirmed that it made a loss of £3.54bn in 2011 the vast majority of which it attributed to the mis-selling of payment protection insurance (PPI).
Equity owner reports UK loss
Insurance Australia Group (IAG) has reported a loss of AU$7m (£4.77m) for the first half of the financial year 2012 for its UK division.
Allianz sees profits rise in UK
Allianz has reported an 11.4% rise in operating profits for its UK arm to €206m (£174.3m) in 2011, up from €185m in 2010.
RSA delivers good 2011 result but commercial continues to drag
RSA UK delivered £310m profit before tax on premiums of over £3bn in 2011 while turning in a combined operating ratio (COR) of 98.2%.
RBSI reports jump in profit and improved COR
RBS Insurance has reported a combined operating ratio (COR) of 100% for the year ended December 2011, an improvement on its COR of 121% in 2010.
HCC reports fall in profits
HCC Insurance Holdings has reported a fall in net earnings in 2011 to $255m (2010: £162.3m) with a deterioration in its combined operating ratio to 90.8% from 84.6% the previous year.
Ageas reveals commercial COR of 110.9%
Ageas Insurance has confirmed it recorded a combined operating ratio (COR) of 110.9% in commercial lines business for the year ended 31 December 2011.