Company results
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.
Results news: 'Admirable' performance as Towergate rates stay put
Towergate executive chairman, Peter Cullum, has claimed that the company has refused to follow the market's "kamikaze" approach to rates.
Results news: Allianz determined to do away with all loss-making business
Allianz chief executive, Andrew Torrance, has outlined plans to push through rate increases in commercial after admitting that the current level of return was "not terribly attractive".
Results news: Fortis to plough on with rebranding despite loss
Fortis UK has confirmed it will complete its rebrand to Ageas by the first quarter of 2011, after announcing a £1.8m loss during Q1 2010 (Q1 2009: £4m profit).
Arista reports £1.5m operating loss for 2009
Charles Earle, Arista Insurance chief executive, said the 2009 figures were in line ambitions to make a "consistent trading profit" during year three of trading.
Europ Assistance announces rise in turnover and profits
Europ Assistance Group has announced a 6.6% rise in turnover in 2009 to €1.288bn (up 7.6% in constant euros) despite the economic crisis hitting its two traditional markets of automotive and travel.
Chaucer reports 11% hike in motor rates
Lloyd's insurer Chaucer this morning reported a drop in gross written premium income to £250.1m (2009 Q1: £257.8m).
Allianz sees profits slip 10 points in first quarter
Allianz Insurance's pre-tax profits have slumped more than 10% to £36.7m (£41.1m: 2009) for the first quarter of 2010, despite a near 5% increase in gross written premium (GWP) to £411.3m.
Cullum reflects on extraordinary 2009 as Towergate posts results
Results reveal the Maidstone-based broking and underwriting group had a testing 2009.