Company results
Hiscox's H1 results reveal a fall in profits
Hiscox’s profits before tax have dropped to £97.2m (H1 2009: £141.1m) and the group combined ratio has increased by 5.8% to 93.6% (H1 2009: 87.8%).
QBE reports rise in European profits
QBE European Operations has reported a rise in pre-tax profit to US$222m for H1 2010, compared to $213m for the same period last year.
Allianz's half year results show GWP rise but profits drop
As part of Allianz’s half year results CEO Andrew Torrance has promised further double digit rate increases in private motor and said there was a “prospect of underwriting profit” in this area in 2011.
AIG's insurance operation Chartis maintains operating income while group makes loss
American International Group’s (AIG) general insurance operation Chartis, has reported operating income before net realised capital gains of $955m for Q2 2010 (Q2 2009: $1bn).
Groupama's broking business revenue remains flat
Combined revenues of Groupama Insurance's UK broking businesses have remained relatively flat at £33.3m during H1 2010 (H1 2009: £34.1m).
Allianz P&C profits increase
Operating profit in Allianz property and casualty (P&C) operations has grown by 28.2% to €1.14bn during Q2 2010, compared to the same period last year.
RBSI reports operating loss for Q2 2010
Royal Bank of Scotland Insurance (RBSI) made an operating loss of £203m during Q2 2010, compared to a £142m profit for the same period last year.
McMillan claims fall in Aviva's GI results is due to reserves
Speaking to Insurance Age, UK general insurance CEO David McMillan said the dip in Aviva’s UK general insurance and health underwriting results and operating profit was impacted by the insurer’s decision to release less reserves.
Novae reports rise in profits
Novae Group has reported an increase in profit before tax and foreign exchange movement on non-monetary items to £13.6m during H1 2010 (H1 2009: loss of £2.1m).
Aviva's UK general insurance profits rise to £197m in H1 2010
The insurers UK general insurance operating profits increased by 24% to £197m in H1 2010 (HY09: £159m) but Aviva's combined UK general insurance and health operating profit fell to £268m during H1 2010, compared to £284m in the same period last year.
RSA half year results show premiums up 9%
RSA has announced UK net written premiums of £1.5bn in the first half of 2010, up by 9% compared with the same period of 2009. However, it added its combined operating ratio had slipped from 97.4% to 98.9% for the comparable periods as a result of severe…
L&G insurance profits increase to £14m for H1 2010
Legal & General’s (L&G) insurance division has reported a rise in operating profit to £14m for H1 2010, compared to £6m for the same period last year.
Insurance revenue grows 9% at Moneysupermarket
Moneysupermarket has reported a 9% increase in insurance revenue to £40.6m for the six months to 30 June 2010 (H1 2009: £37.1m).
Axa loses 18% of GWP in commercial as GI UK results falter
Axa has seen another drop in profitability in its UK GI business in the first half of 2010.
Marsh reports rise in risk and insurance revenue
Marsh & McLennan has reported a rise in risk and insurance services revenue to $1.5bn for Q2 2010, an increase of 9% from the same period last year or 1% on an underlying basis.
Aon reports fall in UK revenue
Aon today reported commission and fees in its UK arm declined 8% to $167m in the second quarter of 2010 (Q2 2009: $181m).
JLT reports strong first half results
JLT starts the year strongly with £70m of profits and good trading in Australasia and Latin America.
Willis reports return to UK growth
Willis has reported net income from continuing operations for the quarter ended 30 June 2010 was $89m. The figure is above last year’s $87m in the same period.
Brit cuts UK private motor book by 60%
Brit Insurance revealed it has cut its UK private motor book by 60% as it reported a 10.8% drop in UK gross written premium to £210.1m for the first six months of 2010 (H1 2009: £235m), a 11.4% decrease at constant exchange rates.
News round-up: July/August 2010
A brief round up of news from the secto.
Go Compare increases annual turnover by 53%
Go Compare has made a £12m profit during the 2009 financial year following the £4m loss recorded for 2008.
Prime Professions' profits rise by 400%
Prime Professions has announced its financial results for the year ended 31 March 2010.
THB sees profits rise in first half
THB Group has announced its unaudited half-year results for the six months ended 30 April 2010.
Jelf reports £616,000 loss; chairman to leave
Jelf has reported a £616,000 loss for the six months ending 31 March 2010, compared to a £994,000 loss for the same period the previous year.