Insurer News – Page 479
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Online onlyNovae will not go cheaply - Fosh
Novae chief executive Matthew Fosh speaks about turning around the fortunes of the Lloyd's insurer in an interview with Insurance Times
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NewsHiscox chief predicts rate rise after run of disasters
Bronek Masojada says reinsurance rates will spike, but doubts the increase will last
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Online onlyAgeas UK returns to profit in Q1
Insurer Ageas UK made a profit before tax of £3.8m in the first quarter of 2011, compared with a loss of £3.2m in the same period last year.The insurer made a loss of £25m loss for the full 2010 year.The Q1 2011 result includes acquisition costs for Castle Cover, bought ...
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Online onlyInvestment returns cut Allianz profit by 6%
Allianz Insurance made an operating profit of £34.4m in Q1 2011, down 6% on the £36.7m it made in the same period last year.“The slight reduction in profit was largely driven by lower investment returns in the continued low interest rate environment,” said Allianz Insurance chief executive Andrew Torrance in ...
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Online onlyAllianz UK Q1 profit dips 5% as premiums rise
Allianz’s UK division made an operating profit of €40m (£35m) in the first quarter of 2011, down 5% on the €42m it made in the same period last year, according to the Allianz Group’s Q1 interim report.The Q1 2011 combined ratio was 97.1%, up slightly in Q1 2010’s 96.5%. The ...
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Online onlyRSA UK Q1 premiums up 9% despite cutbacks
RSA wrote £760m of net premium in the UK in Q1 2011, up 9% on Q1 2010 levels. The overall increase comes despite cuts in several business lines as the insurer pulled exited unprofitable business.RSA has also increased rates in all its main UK business segments.Personal lines net written premiums ...
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