Swiss Re edges back to profit-making
One of the world’s biggest reinsurers, Swiss Re, on Thursday reported a 506-million-Swiss-franc annual net profit in 2009, edging away from a record loss suffered a year earlier in the financial crisis. The net profit, equivalent to 472 million dollars or 345 million euros, was well within the range of analysts’ expectations. “Today, I am proud to say: we have come a long way,” said chief executive Stefan Lippe in a statement. Lippe said the company had restored its capital base, which was severely eroded during the crisis,... Lire la suite
Aon Corp total revenue rose 9% to $2.07 billion
Aon Corp said fourth-quarter earnings rose before special items, beating expectations, as savings from restructuring improved margins and currency gains boosted revenue. Total revenue increased 9% to $2.1 billion with a decline in organic revenue of 2% EPS from continuing operations was $0.49 and adjusted EPS from continuing operations, excluding certain items, increased 20% to $0.96 Brokerage revenue increased 8% to $1.7 billion with a decline in organic revenue of 1% Brokerage pretax margin was 11.5% and the adjusted pretax margin, excluding... Lire la suite
Standard Life announces 7 percent drop in sales during 2009
Insurer Standard Life, the country’s fifth-biggest insurer by market value and the first to detail sales for the full year, beat expectations with a 7 percent drop in sales during 2009, as a market recovery during the second half helped soften the impact of crisis-hit UK consumers cutting back on savings. Life and pensions net inflows excluding bulk bond deals 57% higher at £3.2bn1 (2008: £2.1bn) Standard Life Investments third party net inflows 67% higher at £5.7bn (2008: £3.4bn) SIPP assets under administration 36% higher... Lire la suite
Aviva sees four quarter sales increase
Insurer Aviva reported weaker 2009 life sales, held back by tough economic conditions in the UK, and said its general insurance arm had been hit by hefty weather claims in the final quarter. Life and pensions sales of £8 billion in the fourth quarter, up 21% on the third quarter of 2009 Strong regional performance with life and pension sales up 17% in the UK, 39% in Aviva Europe* and 45% in the US compared with the third quarter of 2009stre Sales volumes managed to ensure capital efficiency and profitability Worldwide total sales for the year... Lire la suite
Munich Re increases profit to €2.56bn in 2009 and raises dividend to €5.75
On the basis of preliminary calculations, Munich Re increased its consolidated profit significantly to €2.56bn in 2009 (previous year: €1.58bn). The profit for the fourth quarter totalled €0.78bn (0.11bn). Shareholders are again set to benefit substantially from the Group’s performance: subject to approval by the Supervisory Board and the Annual General Meeting, the dividend will rise by 4.5% to €5.75 (5.50) per share. Munich RE CFO Jörg Schneider said: “This is another good result that demonstrates Munich Re’s earnings strength.... Lire la suite











