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Company results

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.

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%).

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.

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.

Towergate hit by £35m loss

Towergate has announced a loss of £35.4m for the nine months ended September 2011, over £10m more than the £23.2m it lost in the same period of 2010.

Rates hardening at Amlin UK

Amlin UK has revealed an 8.4% growth in gross written premium (GWP) to £269.7m for the year to 31 October compared with £248.8m for the same period in 2010.

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