Company results
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).
Equity owner reports UK loss
Insurance Australia Group (IAG) has reported a loss of AU$7m (£4.77m) for the first half of the financial year 2012 for its UK division.
Allianz sees profits rise in UK
Allianz has reported an 11.4% rise in operating profits for its UK arm to €206m (£174.3m) in 2011, up from €185m in 2010.
RSA delivers good 2011 result but commercial continues to drag
RSA UK delivered £310m profit before tax on premiums of over £3bn in 2011 while turning in a combined operating ratio (COR) of 98.2%.
RBSI reports jump in profit and improved COR
RBS Insurance has reported a combined operating ratio (COR) of 100% for the year ended December 2011, an improvement on its COR of 121% in 2010.
HCC reports fall in profits
HCC Insurance Holdings has reported a fall in net earnings in 2011 to $255m (2010: £162.3m) with a deterioration in its combined operating ratio to 90.8% from 84.6% the previous year.
Ageas reveals commercial COR of 110.9%
Ageas Insurance has confirmed it recorded a combined operating ratio (COR) of 110.9% in commercial lines business for the year ended 31 December 2011.
Insurers must improve customer service, according to survey
UK consumers are twice as likely to switch insurance provider as their mainland European counterparts, according to a survey conducted by Ernst & Young.
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.