earnings News

Lloyd’s Reports US$4.9 Billion (£3.2 Billion) Profit for 2014, Level With 2013

Lloyd’s announced a pre-tax profit of US$4.9 billion (£3.2 billion) for 2014, which is unchanged from the profit figure reported in 2013. The 2014 profit was driven by a relatively benign year for major natural catastrophes, favorable prior year development, and …

Talanx Q4 Profit Rose 17% on Measures to Restructure German Retail Division

Talanx AG, Germany’s third-biggest insurer, said fourth-quarter profit rose 17 percent helped by investment gains as it sought to restructure its German retail division. Net income increased to 239 million euros ($259 million) from 203 million euros a year earlier, the …

Ping An Profit Jumps 40% in 2014 on Strong Investment Returns

Ping An Insurance (Group) Co., China’s second-biggest insurer, rose to the highest in more than four years in Hong Kong stock trading on Thursday after it said profit jumped 40 percent last year. The shares advanced 4.6 percent to HK$92.60 as …

Generali Q4 Profit Drops 75% on Higher Impairments

Assicurazioni Generali SpA, Italy’s biggest insurer, said fourth-quarter profit slid 75 percent after impairments of its Russian stake and related to the sale of BSI. The insurer increased its dividend by 33 percent. Net income declined to 81 million euros …

Low Catastrophe Claims Help to Boost Full-Year Profit for Hannover Re

Hannover Re, the world’s third-biggest reinsurer, plans to pay a special dividend after fourth-quarter profit rose more than analysts estimated, helped by low catastrophe claims. The shares climbed. Net income rose to 290 million euros ($313 million) from 265 million …

U.K.’s Aviva Reports 6% Increase in Operating Profit for 2014

Aviva plc, in the midst of buying Friends Life Group Ltd. for $8.6 billion, increased its shareholder payout for 2014 by 30 percent as the insurer reported higher profit. The final dividend was lifted to 12.25 pence per share, taking …

U.K.’s Direct Line 2014 Profit Misses Estimates on Less Premiums Written

Direct Line Insurance Group plc reported 2014 pretax profit that missed analyst estimates as the British home and car insurer wrote less premiums. Pretax profit for continuing operations rose 12 percent to 456.8 million pounds ($702.8 million) in the year to …

Amlin, Hiscox Say They Plan to Remain Independent Amid Flurry of M&As

Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …

Ireland’s FBD Holdings Reports Worse-Than-Forecast Operating Loss, Weak Outlook

FBD Holdings plc plunged in Dublin trading after the Irish insurer’s full-year results missed its own downgraded forecast and its operating profit outlook for 2015 fell short of analysts’ expectations. FBD declined 14 percent to 10.50 euros at 9:35 a.m., …

Old Mutual’s Full-Year Profit Falls 8% on Currency Fluctuations

Old Mutual plc, Africa’s biggest insurer, said 2014 profit fell after the average rate of the South African rand weakened 18 percent against the pound. Net income from continuing operations declined to 902 million pounds ($1.39 billion) from 980 million pounds …