2015 financial results News

Bigger Is Better for Lloyd’s Syndicates with Active Cycle Mgmt: S&P

Benign catastrophe losses, combined with lower and less frequent casualty lines claims, helped Lloyd’s syndicates deliver another strong set of results in 2015, reporting an average combined ratio of 90 percent, according to a report published by Standard & Poor’s. …

‘Brexit’ Could Hurt Investments, Cause Regulatory Uncertainty: UK’s Direct Line

A British exit from the European Union could hurt UK insurer Direct Line’s investment portfolio and cause regulatory uncertainty, it said on Tuesday after posting a 3 percent rise in 2015 operating profit. Britain will hold a referendum on EU …

Third Point Re Reports 2015 Net Loss of $87.4M on Poor Investment Returns

Third Point Reinsurance Ltd., which counts on Dan Loeb to oversee investments, swung to a profit in the fourth-quarter as the hedge fund manager’s results improved before a January slump. Net income was $42.2 million, or 39 cents a share, …

RSA’s CEO Warns That UK Withdrawal from EU Could Have Negative Impact

RSA chief Stephen Hester said a British exit from the European Union could have a negative impact on the insurer’s business and investment returns, underscoring a warning from top executives about the impact of withdrawal. Hester was one of 36 …

AXA’s 2015 Net Income Rises 12% on Life Insurance Sales in Europe, Asia

AXA SA, France’s largest insurer, said 2015 profit rose 12 percent, helped by higher life insurance sales in Europe and Asia. The shares rose. Net income climbed to 5.62 billion euros ($6.2 billion) from 5.02 billion euros [$5.5 billion] a …

AIA 2015 Net Income Drops 22% on Weak Asian Currencies, Market Volatility

AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 22 percent decline in full-year profit as weaker regional currencies and stock-market gyrations detracted from business growth. The insurance company announced an unexpected 50 percent increase in its …

Brazil’s BB Seguridade Could Deliver Returns Near 60%, Despite Poor Economy

BB Seguridade ParticipaƧƵes SA, the insurance unit of state-controlled Banco do Brasil SA, could deliver returns near 60 percent this year even as Brazil’s worst recession in decades hampers growth in underwriting premiums and fans delinquencies, Chief Financial Officer Werner …

Swiss Re’s 2015 Net Income Rises 31% to $4.6B; Q4 Profit Up to $938M

Swiss Re AG reported fourth-quarter profit that beat estimates after a quiet year for natural catastrophes and announced that Christian Mumenthaler, head of the company’s main reinsurance unit, will take over as chief executive officer on July 1. Net income …

Allianz Q4 2015 Profit Rises to $1.6B on Cat Claims; Lower Than Analyst Estimates

Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe’s biggest insurer increased to 1.42 billion euros ($1.6 billion) in the quarter from 1.22 billion euros [$1.3 billion] a year earlier, the …

Willis Group Reports (Pre-Merger) Q4 Loss of $24M, vs. Q4 2014 Earnings of $76M

Willis Group reported a net loss of $24 million, or $(0.35) per diluted share during the fourth quarter of 2015, compared to earnings of $76 million, or $1.12 per diluted share, in the prior year quarter. During the 12 months …