Company results
Lloyd’s posts £1.8bn half-year loss
Lloyd's has posted a loss of £1.8bn for the first half of 2022 compared to a profit of £1.4bn in the same period last year.
DR&P Group strikes five deals in 2021 after Inflexion investment
Broker holding company DR&P Group made five acquisitions in 2021 after private equity house Inflexion invested in the business and secured funding from Ares Management, a filing at Companies House has revealed.
PIB set for more UK deals
PIB is set to move forward with more UK deals and is also achieving double digit organic growth according to chief financial officer, Ryan Brown.
PFS figures reinforce scale of financial challenge at CII
The financial performance of the Chartered Insurance Institute has again come under scrutiny as the Personal Finance Society posted its figures for 2021.
Start-up Broadway triples GWP
Broadway Insurance Brokers tripled gross written premium in the past 12 months hitting £4.5m, CEO Daniel Lloyd-John has confirmed.
GRP posts £201m turnover ahead of Brown & Brown sale
Global Risk Partners has reported an operating profit of £71.3m for the year ended 31 March 2022 in its final set of results under private equity ownership.
Romero on track to double its business
Managing director, Simon Mabb has revealed that Romero is on track to achieve its five year plan of doubling its business by 2025.
Ardonagh adjusted Ebitda grows to £186m in H1 2022
Ardonagh has announced that its income rose by 37% to £595m ($791m) and adjusted Ebitda by 21% to £186m ($247 million).
Top 5 read stories: 8-12 August 2022
The top five most read stories by brokers this week.
Policy Expert targets doubling within five years, says CEO Steve Hardy
Policy Expert is aiming to double its one million customer count through further organic growth, adding new lines and potentially international expansion and acquisitions in the next five years, according to CEO Steve Hardy.
Aviva UK sees COR deteriorate and operating profit slip
Aviva UK’s combined operating ratio for H1 2022 has deteriorated to 95.6% and operating profit dropped to £159m from £169m in the same period last year.
PIB 2021 deal costs total £85.5m
PIB Group spent £85.5m in 2021 snapping up eight businesses, the broker’s annual report has revealed with revenue growing to over £230m including 9% organic growth.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
RSA posts UK underwriting loss
RSA has revealed a £12m underwriting loss for UK business in the first six months of 2022.
Gallagher reports UK organic growth of 8%
Gallagher achieved 8% organic growth in the UK in the second quarter of 2022, Simon Matson EMEA CEO at the firm has confirmed.
Clear CEO sets out organic growth and acquisitions route to £675m GWP in 2025
Clear Group is targeting doubling its gross written premium by the end of 2025 through maintaining its acquisition programme and double-digit organic growth, according to CEO Mike Edgeley.
Clear posts 8% organic growth as 2021 deal spend revealed
Clear Group spent £17.25m on acquisitions during its 2021 financial year as the broker grew revenue to £45m from £28m in 2020.
Beazley delivers improved COR but profits down on investment returns
Beazley has reported an improved combined operating ratio of 87% for the first half of 2022, from 94% delivered in the same period last year.
Attis forecasts hitting £60m GWP in 2022 and £100m by 2024
Joe Henderson-backed Attis Insurance has grown its headcount to over 100 people from 75 at the start of the year with the commercial broker predicting revenue of over £6m for 2022.
Ripe grows turnover in 2021 with profits stable
Ripe Thinking has reported a 24% rise in turnover to £23.27m for 2021.
Sabre warns of surging claims costs as motor GWP and profit drops
Gross written premium in Sabre’s motor book has dropped around 10.6% compared to the same period in 2021, the insurer has revealed in its half year results.
Verlingue increases turnover for 2021
Verlingue has grown its turnover to £18.3m, a 2.3% increase on the £17.9m it posted in 2020.
Avantia grows revenue to £26.6m in 2021
Property specialist Avantia has reported revenue of £26.58m in 2021 with a reinvestment by ECI Partners.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.