Swiss Re boosts profit 27 per cent in 2018 despite tough year for natural disasters February 21, 2019 Swiss Re boosted net profit 27.2 per cent in 2018, despite sustaining hits from natural and man-made disasters. The reinsurer reported net profit of $421m (£366m) compared with $331m a year previously, despite 2018 being the fourth-costliest year on record for the insurance industry. However, its profit is 37 per cent behind consensus, according to figures [...]
Profit at insurer Axa plunges 66 per cent on write downs and natural catastrophes February 21, 2019 Net profit at French insurer Axa plunged by two thirds last year which it blamed on charges related to its US arm’s initial public offering and a rash of natural disasters. Net profit plunged 66 per cent from €6.2bn to €2.1bn for the year ended 31 December. This was influenced by a €3bn write-down on [...]
Best and worst performing income funds of 2018 revealed February 5, 2019 Investment firm Sanlam UK has revealed the biggest winners and losers in its annual study ranking income funds. The Troy Trojan Income Fund, run by Francis Brooke jumped 37 positions to take the top position, followed by the Axa Framlington Monthly Income Fund and the Miton UK Multi Cap Income Fund, it was announced today. [...]
Over-50s insurer Saga set to meet profit expectations after sales cruise forward January 16, 2019 Saga, the insurer and package holiday provider for the over-50s, reported overall profitability is in line with expectations today despite a “challenging” market. Forward sales for cruises have been strong, the company reported, with its ship the Spirit of Discovery, which will set sail in June this year, reaching 69 per cent of the sales [...]
Insurer Axa to shift jobs to Dublin in Brexit move January 10, 2019 Insurer Axa is moving staff to Ireland in the light of the UK’s impending exit from the EU. Chief executive of the French insurer Thomas Buberl told reporters today that Axa’s recently acquired XL unit had already made plans to move staff to Ireland from the UK before its takeover by Axa last year. Buberl [...]
Ex-Virgin Money boss among two women replacing men on Bank of England’s financial policy committee January 3, 2019 Former boss of Virgin Money Dame Jayne-Anne Gadhia has been added to the Bank of England’s financial policy committee alongside the chair of the Banking Standards Board Dame Colette Bowe, chancellor Philip Hammond announced today. The pair will replace Richard Sharp and Martin Taylor, who are stepping down at the end of the first quarter [...]
Lloyd’s of London prepares for Brexit with new European team December 20, 2018 Lloyd’s of London has appointed a team to head up its Brussels hub as the insurance giant seeks to insure itself against Brexit. Sonja Rottiers takes over as chief executive of newly formed Lloyd’s Brussels. She will be joined on the board by new chairman Michel Flamée, a former board member of the National Bank of [...]
Axa raises profit target following $15bn XL deal November 28, 2018 Europe's second-largest insurer Axa said it expects profitability to speed up in the next two years thanks to business brought in by XL which it acquired in September. French-headquartered Axa said today it expected adjusted return on equity (ROE) to increase between 14 per cent and 16 per cent annually over the coming two years, [...]
City skyscraper Twentytwo set to lure in another insurer November 20, 2018 The City's tallest skyscraper is expected to land yet another major insurance tenant in the coming weeks, with news this afternoon that broker THB Group is in talks to rent 35,000 square feet of space. THB Group is set to become the third insurer to move into 22 Bishopsgate, known as Twentytwo, once construction is completed [...]
Addison Lee launches self-driving taxi trials in Canary Wharf November 7, 2018 Private hire firm Addison Lee has begun trialling self-driving car technology, created by UK startup Oxbotica, on the streets of London. Driving around the skyscrapers of Canary Wharf, Addison Lee's manned cars are creating a three-dimensional street map of the city in order to create the backdrop for future driverless cars. Organised together with Canary [...]