Company results
Lloyds Bank claws back directors' bonuses due to PPI scandal
Lloyds Banking Group is to strip five directors of their bonuses, totalling over £1m, as a penalty for their role in the payment protection insurance (PPI) mis-selling scandal, the Daily Telegraph has reported.
Ageas produces growth and profit across the board
Ageas has reported a huge boost in both gross written premiums (GWP) and profit for 2011 as the insurer’s Tesco deal begins to pay dividends.
Zurich UK sees profits rise
Zurich UK has reported a 28% increase in business operating profit to $256m (£163.3m) for the year ended 31 December 2011.
Axa UK optimistic following 2011 results
Axa UK has reported a combined operating ratio of 98.9% for 2011, an improvement of 6.4% on 2010.
Aspen on the hunt for new CFO following poor 2011 results
Aspen Insurance Holdings is searching for a new chief financial officer following the departure of incumbent, Richard Houghton.
Marsh reports increase in revenue and profit
Marsh & McLennan Companies, parent company of broking giant Marsh, has reported a 9.3% increase in total revenue to $11.53bn (£7.35bn) for 2011 from $10.55bn in 2010.
Disappointing results for Willis show income halved last year
Willis has reported total commissions and fees of $816m (£520m) for the fourth quarter of 2011, down from $823m in the same quarter of 2010.
XL reports $475m loss
XL has reported a net loss of $475m (£301.3m) for 2011 along with a combined operating ratio of 107.5% for property and casualty (P&C) business.
Mapfre hits out at credit rating agencies
Mapfre's general manager, Esteban Tejera, has criticised ratings agencies for failing to take the company's financial figures into account when downgrading them.
Profits slump at Catlin
Catlin Group has seen pre-tax profits for 2011 tumble to $71m (£44.8m) from $406m the year before, as its combined operating ratio punched through the 100 barrier to reach 102.6% (2010: 89.8%).
Aspen attributes significant 2011 losses to natural catastrophe
Aspen Insurance Holdings has reported a net loss of $105.8m (£66.9m) producing a combined ratio of 115.6% for the full year 2011.
Beazley reports 75% drop in profits
Beazley has announced a reduced profit of $62.7m (£39.6m) for 2011, down from $250.8m in 2010.
Aon sees operating income fall 8% in risk division
Aon has reported an 8% fall in operating income for its risk solutions division to $345m (£218m) in the fourth quarter of 2011 from $374m in the same period of 2010.
Markel's combined ratio takes a tumble
Markel International has reported a combined ratio of 116% for 2011, in stark contrast to its rate of 95% for 2010.
Profits halved at Ace
Ace has reported that net income dropped by 49% to $1.59bn (£1bn) in 2011 from $3.1bn the previous year.
Premiums rise as profits fall at Chubb
Chubb has reported net income in Q4 2011 of $452m (£287.7m) down from $620m in the same period of 2010.
Policy sales up at Brightside ahead of results release
Brightside has revealed a 30.7% increase in policy sales to 444,189 [2010: 339,916] ahead of announcing its full year results to 31 December 2011.
ULR parent reports £3m loss
Motorplus, parent company of Norwich-based ULR, has reported an operating loss of £3.4m for the year ending 31 August 2010.
Hyperion celebrates 21% rise in revenue
Hyperion Insurance Group, has reported a 21% increase in revenue to £87m for the year ended September 2011.
Household market predicted to strengthen
Home insurance premiums could rise by up to 10% in 2012 according to Deloitte.
Finances improving at Oval despite £3m loss
The Oval Group is still making a loss but has improved its position on last year, according to the latest set of results.
Barton sees Jelf “bucking the trend”
Phil Barton, chief executive for insurance at Jelf, has described the broker’s 4.4% organic growth in insurance business to £44.8m as “no doubt bucking the trend” in the industry.
Jelf profits shoot up by more than 200%
Jelf has reported a 235% jump in profit, to £2.8m for the year ended September 2011, up from £0.9m for the year ended September 2010.
A-Plan mulls over branch expansion as profits approach £20m
High street broker A-Plan, has delivered nearly £20m of operating profit for the year ended February 2011, up from £16.79m last year.