Financial / Results – Page 192
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NewsQuindell overstated 2013 PSD profits by £145m
Insurance outsourcer would have overstated 2014 PSD profit by £312m under old accounting methods
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Online onlyPen secures capacity deal with QIC Europe
QIC will provide capacity for Pen’s solicitors PI products
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NewsForeign exchange losses depress Novae profit
First half pre-tax profit down 21%, but underlying profit rises 28% and COR improves to 89.8%
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Online onlyDirect Line share price at record high after strong results
Shares boosted by 49% rise in first half pre-tax profit
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NewsAgeas UK profit up 17% thanks to good weather and commercial lines
But motor COR edges above 100% because of higher claims frequency
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NewsAXA’s Paul Evans: Insurers face ‘headache’ over soft home rates
Insurer’s home revenues fell 6% in first half because of growing competition
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NewsExor sees off AXIS to buy PartnerRe for $6bn
AXIS will receive a $315m break-up fee from PartnerRe as a result of merger agreement being terminated
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NewsOval/Giles integration costs Gallagher £16m in H1
Consolidation of UK offices, technology costs, onboarding of over 3,700 employees are included in costs
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Online onlyKPMG parachuted into Gallagher for FCA investigation
Gallagher also involved in US tax probe into captive set up
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Online onlyCounty Insurance buys broker and announces ambitious growth plans
Broker says refinancing opens way to further growth through acquisitions
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NewsIronshore under negative review by AM Best after Fosun deal
Ratings agency review reflects concerns over Chinese company’s credit profile
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Online onlyCritics begin to round on Zurich’s RSA swoop
Zurich told best option would be to drop RSA deal and give cash back to shareholders
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Online onlyAlan Boswell Group shows pre-tax profit growth of 27%
The broker is moving its financial division to offices it occupied 15 years ago
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NewsMoneysupermarket insurance half-year revenues rise 8%
Group-wide profit after tax grew 44% to £30.2m compared with £21m in 2014
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NewsGallagher broking unit boosts profit by 17% in first half
Broker spent $43.2m on integrating acquisitions
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NewsWillis raises cost saving target by $25m
Broking group now expects annualised savings of $325m from restructuring plan
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NewsWillis GB organic revenue falls 2.3% in second quarter
Group profit before tax falls 14% in first half and 15% in second quarter
