Financial / Results – Page 94
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NewsAdmiral set to report another profitable year, but spectre of rising claims costs looms
The insurer expects to post bigger profits in its 2019 figures, but issues warning on claims inflation
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NewsBrokers being forced to pay more attention to 'uninsurable' risks, says FM Global
The insurer believes both brokers and insurance firms are trying to assess potential intangible losses
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NewsDeeside MP pledges to help Staveley Head workers
At least sixty jobs are said to be lost after the business went into administration
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NewsDefunct Staveley Head paid £2m dividend to parent company prior to going into administration
Staveley’s directors were also paid dividends amounting to £600,000
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Online onlyInvestment returns boost Beazley profits amid rising claims
Insurer’s combined operating ratio rises to 100%, but chief exec Andrew Horton says a mid-90s COR is “realistic” for 2020
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NewsLack of supply chain understanding identified as key industry risk
The insurer’s claims director says mapping out supply chains is ‘extremely difficult’ for both insurance firms and risk managers
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NewsStaveley Head enters administration
Most staff let go as the Lloyd’s coverholder struggled to recover from the termination of its Gefion business
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IT Interview‘Being successful in general insurance is about doing the right thing’ says Aviva’s UK chief exec
The insurer’s chief executive of GI business lifts the lid on his leadership since accepting the CEO role last year
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NewsIrish broker sold to Ardonagh backers
Sovereign Capital Partners has divested its majority stake to two private equity firms
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NewsGlobal private investment firm acquires major stake in GRP
Founder Peter Cullum is ‘delighted’ with GRP’s new majority stakeholder
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Online onlyGallagher reveals huge M&A firepower and multiples on deals
Capacity ’to do another $1.5bn to $1.6bn of mergers again this year’, according to group CFO
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NewsMarsh & McLennan reports $16.7bn year-end revenue for 2019
However, investing cash flows in acquisitions set the firm back $5.5m
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NewsGallagher enjoys ‘exceptional year’ as growth seen across all UK segments
Margin rises seen across UK broker’s segments
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NewsFitch sees negative outlook for non-life insurance sector
Fitch Ratings points the finger at elevated claims inflation and a weak pricing environment
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NewsCopart has strategy to tackle ‘Brexit blips’
The firm’s UK managing director is preparing for increased salvage as escalating costs make vehicle repairs uneconomic
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Online onlyGefion solvency weakens further in restated finances
Reinsurance contract stripped out means annual report shows deeper solvency erosion
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IT InterviewAviva plans to cut personal lines products from 400 to 40
Aviva GI also ahead of cost-cutting targets, chief executive says
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NewsABI decries Treasury IPT ‘windfall’ amid calls for tax cut in spring budget
Government raked in more tax from IPT in December than the so-called ‘sin’ products such as beer, spirits and gambling
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NewsN&G acquires commercial marine trade book from NMU
NMU chief executive confirms withdrawal is a ‘strategic decision’
