Company results
Ecclesiastical’s UK COR reaches 105.5%
Steve Wood, managing director for the UK and Ireland at Ecclesiastical, has vowed the provider will focus “sharply” on underwriting as its UK combined operating ratio (COR) hit 105.5% in 2012, up from 96.3% the year before.
Investment returns save Ecclesiastical as COR worsens
Ecclesiastical has reported a UK underwriting loss of £12.3m for 2012, mainly due to liability business, along with a group underwriting loss of £24.6m down further on the £18.7m loss reported in 2011.
Video: What the Papers Say latest edition
In the March edition, James Sharp, business development director at TEn Insurance, tackles the subject of increasing FSCS levies.
Bupa blames economy for 22% UK profit drop
Bupa blamed the "disappointing" performance of its UK arm on the economy as its profits plunged by 22% during 2012.
Canopius reports return to profit and brings COR below 100%
Canopius Group has reported a return to profit for 2012, at £49m, compared with a loss of £61m in 2011.
Commercial COR unacceptable, says Aviva boss Spencer
Aviva UK and Ireland chief executive Robin Spencer has branded the insurer’s commercial combined operating ratio (COR) as “unacceptable”.
Aviva UK GI delivers steady 98% COR amid 2013 pay freeze
Aviva delivered a steady UK combined operating ratio (COR) of 98% for 2012 as the group confirmed that its executive directors would not receive any annual bonuses.
L&G GI reports GWP growth while profit and COR decline
Legal & General’s (L&G) general insurance (GI) division has reported gross written premium of £349m for 2012, up from the £304m reported in 2011.
Admiral CEO warns of aggregator slowdown despite Confused profit
Confused.com recorded rising profits for the first time in four years as Admiral group CEO Henry Engelhardt admitted that the rate of aggregator growth was "slowing".
JLT enjoys 20% profit growth
Jardine Lloyd Thompson (JLT) has seen its 2012 profits jump by 20% as it delivered organic growth of 7%.
Coface reports jump in profit amid 2013 economy warning
Coface has reported a €129m (£112m) net profit for 2012, up 80% from 2011.
Amlin swings back to profit and agrees $50m MGA deal
Amlin returned to the black after posting a pre-tax profit of £264.2m for 2012, a marked improvement on the £193.8m loss recorded for 2011.
Results reveal profit-focused insurers
CEOs’ responses to insurer results suggest greater emphasis being placed on profits than book building
Bluefin CEO "bullish" about acquisitions despite 2012 blank
Bluefin Insurance CEO Stuart Reid has insisted he is "bullish" about the broker's 2013 acquisition prospects despite drawing a blank last year.
Direct Line Group reports dip in GWP while COR improves
Direct Line Group (DLG) has reported a drop in gross written premium (GWP)for 2012, at £3.99bn down from £4.13bn in 2011.
Bluefin shrugs off Wentworth storm to post rising profit and EBITDA
Bluefin Insurance shrugged off the reported loss of business to broker Wentworth Alexander to record post-tax profit and EBITDA rises for 2012.
Brit reports improved profit and COR
Brit Insurance has reported an operating profit of £113.6m for 2012, up from £68.4m in 2011, in the first full-year results since it divested its UK business.
esure plans £50m stock exchange flotation
esure has announced its intention to float on the London Stock Exchange with an initial public offering (IPO).
LV MD: motor rates need to rise
LV managing director John O’Roarke has blamed falling motor rates for the only disappointment in its broker channel results for 2012.
QBE to cut 700 jobs
QBE is to cut up to 700 positions across Europe, Australia and the US over the next few years.
Mixed bag at LV as operating profits soar but underwriting profits plunge
LV has reported a £25m reduction in underwriting profit for 2012, at £5m down from £30m in 2011.
Profits up at QBE
QBE has reported an 8% rise in net profit after tax to US$761m [£501.8m] for 2012 along with gross written premiums (GWP) of $18.4bn, up a modest 1% on 2011.
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
Allianz UK CEO admits broker retail profit and growth was "bridge too far"
Allianz UK CEO Andrew Torrance has admitted that the insurer took a hit on the top line of its retail broker segment in 2012.