Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
November 2, 2012

Navigators report Q3 results

by Richard Kilner

Story link: Navigators report Q3 results

The Navigators Group, Inc. has reported that in the three months ended 30 September 2012 it made a net income of $12.9m, equating to $0.90 per diluted share. This is slightly down on the $13.9m, or $0.92 per diluted share, the firm made during the corresponding period last year. Quarterly gross written premiums were $298.7m, […]



AIG reports Q3 net income of $1.9bn

by Richard Kilner

Story link: AIG reports Q3 net income of $1.9bn

American International Group, Inc. (AIG) has reported its financial results for the third quarter of 2012, during which it made a net income of $1.9bn. This is a significant turn around since the corresponding quarter last year when the firm incurred a net loss of $4bn, but is a decline from the second quarter of […]



November 1, 2012

PartnerRe reports strong third quarter results

by Richard Kilner

Story link: PartnerRe reports strong third quarter results

PartnerRe Ltd. has reported its financial results for the third quarter of 2012, during which the firm made net income of $486.7m, or $7.53 per share. This is about two and a half times as much as the firm made in the corresponding period last year ($180.1m, equating to $2.43 per share) or during the […]



October 30, 2012

CNA reports rising Q3 and 9M profits

by Richard Kilner

Story link: CNA reports rising Q3 and 9M profits

CNA Financial Corporation has reported its financial results for the third quarter of 2012, including net income of $221m, equating to $0.82 per share. This is an improvement of about a third from the $166m, or $0.62 per share, the firm made during the preceding quarter. It is also about three times the net income […]



Guy Carpenter launches ProfitPoint+

by Gill Montia

Story link: Guy Carpenter launches ProfitPoint+

Guy Carpenter has launched ProfitPoint+, an integrated portfolio management solution designed to help insurance companies improve profitability, enhance underwriting performance and drive growth. The solution claims to deliver powerful portfolio planning and point-of-sale capabilities so insurers can set, calibrate and monitor risk management strategy, while enabling line underwriters and agents to make more informed decisions […]



October 29, 2012

Validus reports strong Q3 and 9M results

by Richard Kilner

Story link: Validus reports strong Q3 and 9M results

Validus Holdings, Ltd. has reported its financial results for the third quarter of 2012, including net income of $207.3m, equating to net income of $2.11 per diluted common share. This is almost fourfold the $56.5m net income ($0.54 per diluted common share) the firm achieved in the corresponding period last year, and is also a […]



October 26, 2012

Chubb reports record Q3 results

by Richard Kilner

Story link: Chubb reports record Q3 results

The Chubb Corporation has reported that in the third quarter of 2012 it made a net income of $533m, a significant increase on the $298m it made during the corresponding period last year. Net income per share saw a similarly substantial improvement, rising year-on-year from $1.04 to $1.98. Quarterly operating income more than doubled from […]



October 25, 2012

Aspen reports improved Q3 results

by Richard Kilner

Story link: Aspen reports improved Q3 results

Aspen Insurance Holdings Limited has reported its financial results for the third quarter of 2012, including net income of $115.1m, up from $21.2m in Q3 2011, and diluted earnings per share of $1.45. This is a substantial improvement on the corresponding period last year when the firm made diluted earnings per share of $0.21. Year-on-year, […]



October 24, 2012

Willis reports third quarter results

by Richard Kilner

Story link: Willis reports third quarter results

Global insurance broker Willis Group Holdings plc has reported its financial results for the quarter and nine months ended 30 September 2012. Reported net income for the third quarter was $26m, equating to $0.15 per diluted share, less than half the $60m, or $0.34 per diluted share, it made during the corresponding period last year. […]



ACE reports strong third quarter results

by Richard Kilner

Story link: ACE reports strong third quarter results

ACE Limited has reported its financial results for the quarter ended 30 September 2012, including net income of $640m compared to a loss of $39m in the corresponding period last year. The firm reported net income per share of $1.86, a significant improvement on the net loss per share of $0.11 suffered last year. The […]



Pension Insurance Corporation secures cash injection

by Gill Montia

Story link: Pension Insurance Corporation secures cash injection

Pension Insurance Corporation (PIC), which provides insurance solutions for defined benefit pension funds, has completed a transaction whereby Luxembourg-based Reinet Fund will invest up to £400 million in the business. The injection of cash will be used to back PIC’s growth in the UK’s pension insurance buyout and buy-in market. At the same time, Sir […]



Benefits and risks of high frequency trading assessed

by Gill Montia

Story link: Benefits and risks of high frequency trading assessed

Computer-based trading can have beneficial effects on liquidity, transaction costs and the efficiency of market prices, according to the Government’s chief scientific adviser, Sir John Beddington. In a new report, Sir John sheds light on the technological advances that enable computer algorithms, rather than humans, to drive the high-speed stock trades that have transformed markets […]



October 23, 2012

Aon Benfield launches CRO guide to Solvency II

by Gill Montia

Story link: Aon Benfield launches CRO guide to Solvency II

Aon Benfield has launched the “CRO Guide to Solvency II”, a new report aimed at helping chief risk officers (CROs) maintain a competitive position and boost financial strength while meeting regulatory compliance. The study attempts to unravel the complexities of Solvency II and provide practical advice for successful implementation. As such, it includes an overview […]



October 18, 2012

Zurich takes German general insurance hit

by Gill Montia

Story link: Zurich takes German general insurance hit

Following a review of its general insurance business in Germany, Zurich has announced that it is strengthening its claims provisions, primarily in the long-tail liability lines. At the same time, the group intends to write-off a portion of its deferred acquisition costs. At current estimates, these adjustments total around $550 million before tax and $390 […]



October 17, 2012

Aon calls for risk management research participants

by Gill Montia

Story link: Aon calls for risk management research participants

Aon Risk Solutions is calling on risk decision makers to take part in its fourth global risk management survey, which the firm claims is the most comprehensive of its kind. Aon is hoping to double its response rate this year and receive feedback from 2,000 risk decision makers, helping organisational leaders to see an even […]



October 16, 2012

Helphire reports pre-tax loss

by Richard Kilner

Story link: Helphire reports pre-tax loss

Helphire has reported its annual financial results for the year ended 30 June 2012, during which it made an operating loss of £0.7m. The year also saw the firm record adjusted operating profits of £1.4m, less than half the £3.4m it made during the previous year. Before taxes, Helphire made an annual loss of £6.3m, […]



October 10, 2012

Willis and Zurich complete e-Accounting tie up

by Gill Montia

Story link: Willis and Zurich complete e-Accounting tie up

Willis has launched a full electronic accounting process with the London-based operations of Zurich Global Corporate UK, using the current (2010.2) ACORD data standard and exchanging messages via TMEL (The Message Exchange Limited). The move marks another step in the adoption of e-Accounting in the London Market and is Willis’ fourth major implementation during the […]



October 8, 2012

FSCS steps in over Lemma Europe default

by Gill Montia

Story link: FSCS steps in over Lemma Europe default

The Financial Services Compensation Scheme (FSCS) is stepping in to help customers of Lemma Europe Insurance Company, which has failed. The scheme is working closely with the provisional liquidator in Gibraltar, Grant Thornton, to protect the firm’s UK customers after declaring it in default. Up to 7,000 UK policyholders may be affected by the collapse […]



October 1, 2012

Downward pressure on profitability for life and general insurers

by Gill Montia

Story link: Downward pressure on profitability for life and general insurers

The latest financial services survey from the Confederation of British Industry (CBI) and PricewaterhouseCoopers (PwC) shows business volumes and income falling over the past three months, with profitability declining for the first time since June 2009. However, for life insurers, business volumes increased for the eleventh consecutive quarter and at the strongest rate since June […]



September 28, 2012

Helphire reports preliminary annual results

by Richard Kilner

Story link: Helphire reports preliminary annual results

Helphire has reported its preliminary financial results for the year ended 30 June 2012. The firm reported a statutory operating loss of £0.7m, and adjusted operating profit of £1.4m, less than half the £3.4m that it achieved in the preceding year. Helphire also incurred a loss before taxation of £6.3m, with net debt reduced by […]