Axa SA, France’s biggest insurer, said first-half profit rose 4 percent as increased earnings from life and health insurance helped offset higher claims from natural catastrophes. Net income climbed to 3.2 billion euros ($3.6 billion) from 3.1 billion euros a year earlier, the Paris-based company said in a statement on Wednesday. That missed the 3.6 billion-euro average estimate […]

RSA has appointed PwC to advise on the sale of its £600mn ($786mn) UK legacy portfolio, The Insurance Insider has learned. According to the carrier’s annual report, RSA’s legacy book contains disease, asbestos and abuse claims from its old employers’ liability (EL) and public liability businesses. Sources said that net reserves on the book equate to £600mn, […]

Total return carrier Fidelis is being widely talked up as the most likely acquirer of Lloyd’s (re)insurer Ariel,The Insurance Insider understands. Sources have said that Fidelis is among the small number of companies that have registered an interest in buying into Ariel and entered negotiations, after the carrier’s bankers approached a select group of potential partners. […]

American International Group Inc. said it will buy back $3 billion of stock after second-quarter profit climbed 6.3 percent, helped by asset sales. The insurer climbed in extended trading in New York. Net income advanced to $1.91 billion, or $1.68 a share, from $1.8 billion, or $1.32, a year earlier, New York-based AIG said Tuesday […]

Direct Line Insurance Group Plc shares climbed after the company announced a special 10-pence dividend, and have now recouped losses following the Brexit referendum. The extra payment comes even as the U.K. car and home insurer said operating profit fell 12.2 million pounds ($16.1 million) to 323.6 million pounds in the six months through June after […]

Endurance reported a dip in operating profits of 30 percent to $53.6mn as preannounced second quarter cat losses fed through to the bottom line. At $0.81 a share, the performance represented a miss compared to Wall Street consensus forecasts of $1.11 a share. But the Bermudian was able to generate strident top-line growth as gross […]

AIG is set to record its lowest second-quarter profit since its taxpayer bailout in 2008, putting further pressure on chief executive Peter Hancock after he defied calls from activist investors to break up the US insurer. Wall Street analysts have cut earnings estimates for AIG by a third over the past year, underlining how persistently low interest rates […]

British car insurance premiums rose less than expected in the three months to end-June compared with the previous quarter, as competition pressures kept growth in check, the AA (AAAA.L) said on Saturday. The average quote for an annual comprehensive car insurance policy was 568.48 pounds ($751.81) in the second quarter, a rise of 2.3 percent […]

Could you picture French insurance giant Axa here? There are some things that are just meant to be together. Salt and pepper. Jelly and ice cream. French insurance giant Axa and Chinese e-commerce platform Alibaba. The two companies announced today that they have plans to team up, alongside with Alibaba-affiliate Ant Financial Services, to distribute AXA’s […]

China Life Insurance Co., the nation’s largest insurer, said net income in the first half of the year may fall as much as 70 percent from a year earlier as stock-market declines dragged down investment returns. The Beijing-based company attributed the forecast, which is based on unaudited numbers, to lower investment income and changes in […]