2022 financial results News

Lloyd’s Has Strong H1 Underwriting Profit, but Reports Overall Loss on Investment Hit

While Lloyd’s reported a strong underwriting profit during the first half and its best combined ratio in five years, similar to many insurers, it saw an overall loss as a result of its investments. Underwriting profits for the first six …

China’s Ping An Insurance H1 Profit Rises 3.9%

Ping An Insurance Group Co. of China, China’s largest insurer by market value, reported a 3.9% rise in first half net profit, the first increase over this period in three years, a filing with the Hong Kong stock exchange showed …

Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims

NN Group’s core profit fell 12.1% year-on-year in the first half of 2022, the Dutch insurer said on Thursday, citing the impact of weather events and the sale of its asset management arm. Operating profit came in at 983 million …

UK Insurer Aviva Posts 14% Rise in H1 Operating Profit

Aviva plans to return more cash to shareholders, the British insurer said as it posted a better-than-expected 14% rise in first-half operating profit, sending its shares to the top of the FTSE 100 gainers on Wednesday. Activist investor Cevian Capital, …

Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio

Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by 908 million euros ($926 …

Brazil’s BB Seguridade Posts 86.6% Rise in Q2 Net Profit

Brazilian insurer BB Seguridade Participacoes SA on Monday increased its full-year outlook, citing higher-than-expected growth in written premiums as it posted an 86.6% rise in net profit in the second quarter. Shares in the company, controlled by state-run lender Banco …

Safety Insurance Cites Q2 Combined Ratio, COVID Claim Court Win

Boston-based Safety Insurance touted a combined ratio of 92.1 and a win in a COVID-19 business interruption court case as highlights for its second quarter. However, second quarter net income was $7.9 million compared to $37.7 million for the comparable …

Lloyd’s Insurer Hiscox to Provide Insurance for Ukraine Grain Shipments

Hiscox is committed to a planned insurance consortium providing cover for ships traveling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd’s of London insurer shares plunged on a first-half loss. The first grain-carrying …

French Insurer AXA Posts 3% Rise in H1 Net Profit

French insurer AXA announced a new share buyback program as it posted a 3% rise in first-half net profit, driving up its stock price. AXA, Europe’s second-biggest insurer behind Germany’s Allianz, said it would buy back up to 1 billion …

UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit

British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. Chief Executive Penny James said on Tuesday the …