Company results
Fitch maintains negative outlook on Groupama SA
Fitch Ratings has affirmed Groupama SA’s Insurer Financial Strength rating at BBB, outlook negative.
Groupama's UK results bring delight and frustration for CEO
Groupama UK’s chief executive, François-Xavier Boisseau, has admitted that his satisfaction at producing record levels of profit in 2011 has been tempered by the sale process forced upon the insurer by its French parent.
Groupama delivers record profits but sees revenues dip
Groupama UK has experienced a huge upswing in profitability for the second year in a row delivering £43.5m in 2011 against £23.7m in 2010, itself a huge improvement on the previous year (2009: £14.1m).
Canopius hit hard by catastrophe losses
Canopius has suffered a tough 2011 posting a multi-million pound loss and a three figure combined operating ratio (COR).
L&G GI returns to profit, with 18% COR improvement
Legal & General has reported profit of £42m for its general insurance arm in 2011, up £50m from an £8m loss the previous year.
Coface reports improved results with 21% jump in profit
Coface has reported a €96m (£81m) increase in insurance turnover for 2011, up from €1.35bn in 2010 to €1.45bn.
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).