Insurance Australia Group Posts US$ 840 Million Half Year Insurance Profit

February 22, 2013Email ThisPrintNewslettersTweetArticleComments

Insurance Australia Group Limited (IAG) announced an insurance profit of A$815 million

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Allianz Reports Revenue, Operating Profit and Net Income Growth for 2012

February 22, 2013Email ThisPrintNewslettersTweetArticleComments

Germany’s Allianz Group, Europe’s largest insurer, reported strong results for the financial year 2012. Revenues reached

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Allianz Estimates Sandy Impact at $670 Million; Won’t Affect Profit Forecast

January 18, 2013Email ThisPrintNewslettersTweetArticleComments

Germany’s Allianz SE has announced that its losses from Hurricane Sandy are estimated to total

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Allianz Preliminary Q1 2012 Figures Forecast $1.8 Billion Profit

May 10, 2012Email ThisPrintNewslettersTweetArticleComments

German insurance giant Allianz SE has released preliminary figures for the first quarter of 2012, which indicate that total revenues will be over

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Willis Group Profit Beats Estimates; Withdraws Forecast

By Reuters

April 27, 2012 • Reprints

Willis Group Holdings posted a higher first-quarter profit that topped Wall Street estimates, as it earned more from commissions and fees, but the insurance broker withdrew its previous forecasts due to uncertainty in some operations.

The company’s results suffered from continued weakness in its loan protector business, a non-core unit within its North America segment that provides insurance services to the mortgage servicing industry.

“Unexpected events and operational or economic disruptions can significantly affect our business results,” Chief Executive Joe Plumeri said in a statement.

“With that kind of uncertainty, it does not make sense to offer guidance on future financial results.”

First-quarter net income was $225 million, or $1.28 per share, compared with $35 million, or $20 cents per share, a year ago.

Excluding items, the London-based company earned $1.32 per share.

Analysts, on average, expected the company to earn $1.25 per share, according to Thomson Reuters I/B/E/S.

Total commissions and fees rose marginally to $1.01 billion, while organic commissions and fees grew 3 percent, excluding the negative impact of Loan Protector.

Shares of the company, which have gained 13 percent since touching a year-low in October, closed at $37.32 on the New York Stock Exchange on Thursday.

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