Insurer RSA has bounced back to profit in the second half of 2014 on the back of an action plan conceived by chief executive officer Stephen Hester designed to turn the business around.
Broker Lockton has poached Michael Lea, Ian Nichol and Jo Newman from JLT. They will join its existing international management liability (IML) team.
Bermuda-based Maiden Holdings has posted what it described as a record net operating profit for the second quarter of 2014.
Insurer Aviva has posted strong results for the first half of 2014, despite a 21 percent decrease in the value of its new business in UK life.
Zurich Insurance Group posted an improved set of results for the first half of 2014 as the company reaped the rewards of streamlining its organisational structure and its delivery on other strategic changes at the company.
A strong set of results in the second quarter driven by its property/casualty unit helped Swiss Re to an impressive overall performance in the first half of 2014, despite what its chief executive described as a demanding time for the reinsurance industry.
The possibilities around the way so-called big data could be used has the possibility to revolutionise the reinsurance industry and potentially the economy as a whole, Michel Liès, the group chief executive officer of Swiss Re, said in relation to the reinsurer’s second quarter results.
Hannover Re enjoyed growth in its net profits of almost 5 percent in the first half of 2014 and almost 10 percent in the second quarter alone. But the company’s gross written premiums shrank slightly on the back of intense competition in the reinsurance industry and clients retaining more business.
While conditions in the non-life reinsurance market remain challenging, it is also a mixed picture overall with some rate increases being secured by reinsurers against a wider backdrop of rate declines, according to Hannover Re.
Cayman Islands-based reinsurer Greenlight Re saw profits rise in the second quarter of 2014 but its premiums took a dive as it pulled back from business it felt was not profitable enough against a backdrop of tough market conditions.