Proactiveinvestors United Kingdom - Insurance RSS feed Proactiveinvestors United Kingdom - Insurance feed en Sat, 20 Jan 2018 11:26:05 +0000 Genera CMS Beazley expects 2017 profit to be ahead of current market expectations despite spate of natural disasters Wed, 17 Jan 2018 08:03:00 +0000 Admiral shares drop after JPMorgan downgrades to 'underweight' Fri, 05 Jan 2018 09:45:00 +0000 GoCompare motors higher as it snaps up MyVoucherCodes in £36.5mln cash deal Tue, 19 Dec 2017 09:07:00 +0000 Old Mutual sells part of wealth management arm for £600mln amid managed separation Tue, 19 Dec 2017 08:26:00 +0000 Aviva and Prudential are top picks for 2018, says Barclays Capital Mon, 11 Dec 2017 09:48:00 +0000 Legal & General upbeat as retirement and fund arms outperform Thu, 07 Dec 2017 08:42:00 +0000 Legal & General exits with-profits after fifty years through £650mln sale to Swiss Re Wed, 06 Dec 2017 08:18:00 +0000 Aviva lifts earnings, cash and dividend targets after successful turnaround Thu, 30 Nov 2017 11:00:00 +0000 Chesnara rallies after "highly effective " Capital Markets Day Wed, 29 Nov 2017 14:24:00 +0000 Aviva shares jump after report says insurer is set to announce £1bn share buyback Mon, 27 Nov 2017 15:40:00 +0000 HSBC cuts target price on insurers RSA, Admiral and Aviva amid market challenges and reforms Thu, 23 Nov 2017 11:01:00 +0000 Direct Line shares down as home insurance premiums fall Tue, 07 Nov 2017 13:10:00 +0000 Insurers L&G and the Pru feel the love from Citigroup Thu, 02 Nov 2017 11:18:00 +0000 RSA takes £50mln hit for hurricanes in US and Caribbean Thu, 02 Nov 2017 09:10:00 +0000 Old Mutual offloads majority stake in Nedbank as part of break-up plan Wed, 01 Nov 2017 08:20:00 +0000 Barclays expecting Aviva to launch £1bn buyback scheme and pay off £500mln of debt in 2018 Fri, 27 Oct 2017 10:21:00 +0100 Aviva to sell Taiwan business to joint venture partner First Financial Fri, 13 Oct 2017 08:01:00 +0100 Happy employees equal happy days for Personal Group Mon, 09 Oct 2017 10:52:00 +0100 Lancashire estimates losses arising from recent hurricanes, earthquakes to be in US$106mln to US$212mln range Mon, 09 Oct 2017 07:37:00 +0100 Hiscox estimates it faces net claims totalling about US$225mln from both hurricanes Harvey and Irma Mon, 02 Oct 2017 08:05:00 +0100 Personal Group says benefits at work now stable after tax changes Tue, 26 Sep 2017 10:13:00 +0100 Admiral Group upgraded as Deutsche Bank recalculates after government's Ogden rate rethink Mon, 18 Sep 2017 11:48:00 +0100 Hiscox says Harvey devastation will cost it US$150mln Mon, 18 Sep 2017 09:00:00 +0100 Jefferies International gives Legal & General shares a lift with price target hike Mon, 11 Sep 2017 14:30:00 +0100 Insurers Direct Line and Hastings Group motor higher as government backtracks on changes to insurance discount rate Thu, 07 Sep 2017 10:51:00 +0100 FCA to take no further action on Police Mutual and says no inference should be drawn from continuing investigation of the other companies in the "fair treatment" probe Thu, 07 Sep 2017 10:05:00 +0100 Berenberg downgrades Admiral rating to ‘sell’ from ‘hold’, sees ‘challenges ahead’ for the insurer Tue, 05 Sep 2017 10:24:00 +0100 Chesnara reveals big boost from L&G deal; company on look-out for further acquisitions Thu, 31 Aug 2017 15:10:00 +0100 Aviva sells stake in Italian joint venture to Banco BPM Fri, 25 Aug 2017 09:16:00 +0100 Admiral sees shares sink as half-year results raise concerns over UK motor insurance business Wed, 16 Aug 2017 15:56:00 +0100 Personal Group now set for growth after new digital push Mark Scanlon, chief executive of Personal Group Holdings plc (LON:PGH) talks Proactive's Andrew Scott through their salary-sacrifice, insurance and digital software services.

''The world is changing technologically and the opportunity for us to deliver our service digitally is a new and evolving opportunity'', Scanlon says.

''With the proliferation of mobile phones we're able to deliver all of our services through an app - so we've built out our capability to be able to do that''

Scanlon adds: ''Employees of companies want to be able to make decisions like holiday booking or getting discounts perhaps at home ... so providing those services in a mobile fashion is what drove us to build this platform''.

“Looking beyond 2017, Personal is in a strong position to make continued solid progress''.

Tue, 26 Sep 2017 15:38:00 +0100
Chesnara boss hails significant boost to profits and cash generation John Deane, chief executive of Chesnara Plc (LON:CSN) discusses with Proactive their first half performance.

Interim figures revealed the transformational impact its latest acquisition had on the firm as they unveiled a leap in profits and cash generation.

One of the main drivers behind the momentum was Legal & General Nederland, which has since been renamed Scildon and was bought earlier this year for £137.5mln.

The business generated almost £43mln, which allowed it to pay a dividend of 7 pence a share, up 2.9% on the same period 12 months ago.

Thu, 31 Aug 2017 14:30:00 +0100
'It's been a very important and exciting year for us' says Chesnara's John Deane John Deane, chief executive of Chesnara Plc (LON:CSN) tells Proactive 2016 was an important year for them as a company: ''We've made progress across a number of fronts ... the acquisition [of Legal and General’s Dutch insurance business] will complete by April 6''.

''It will add £56mln of economic value to us as a company and increase the cash generation going forward'', Deane says.

The company lifted its final dividend 2.9% to 12.69p per share from 12.33p per share and posted profit before tax of £40.7mln for the year to 31 December, compared to £42.8mln the previous year.

Tue, 04 Apr 2017 12:54:00 +0100
BGC Partner's Ingram shares market enthusiasm about Aviva Mike Ingram, market analyst at BGC Partners, says he shares the market's enthusiasm about Aviva's (LON:AV.) annual results which demonstrate the insurer's path to becoming a lean, mean, cash generating machine.

Ingram says Aviva's lack of presence in the cost comparison website space has worked in the company's favour.

Thu, 09 Mar 2017 15:23:00 +0000
Chesnara now has 'real scale' in Netherlands says CEO Deane Chesnara’s (LON:CSN) deal to buy Legal & General’s Dutch business added 7% to its market value as investors reckoned it was a canny bit of business.
John Deane, chief executive, explains that not only does it give it real scale in the Netherlands, it makes it a credible buyer for other assets that may become available in the country.
Chesnara’s aim is to be the least troublesome share in an investor’s portfolio, he adds, and deals like this make that ambition easier to achieve.
At €160mln, the business is also being bought at a large discount to its cash generation potential.
Chesnara now has close to £7bn of assets under management and is a significant player in all three of its core markets of the Netherlands, UK and Sweden.

Thu, 24 Nov 2016 15:59:00 +0000
Chesnara Plc 'quietly pleased' with first-half results Life and pensions group Chesnara (LON:CSN) has said its first half pre-tax profits were hit by the Brexit vote and more specifically the subsequent move by the Bank of England to reduce interest rates.

However chief executive John Deane told Proactive that the impact on cash generation and pre-tax profits were countered, in part, as it benefited from foreign exchange movements.

''We've had significant cash contributions from our Swedish and Dutch businesses balancing what's been a lower cash contribution from our UK business because that's more impacted by the yield curve'',  John Deane said.

Chesnara confirmed it's continuing its search to add value to the business through acquisition opportunities.

Tue, 06 Sep 2016 15:15:00 +0100
US a big growth opportunity for Pro Global Insurance The US insurance market is a big growth opportunity for Pro Global Insurance Solutions Ltd (LON:PROG) according to chief executive Artur Niemczewski.
The outsource specialist already boasts many of the world’s largest insurance and reinsurance companies as clients, but after a buy-out a couple of years ago the road is just beginning says Niemczewski. 
Changes to legislation in the US are offering up big opportunities he says and Pro Global’s expertise in highly technical areas such underwriting support, reinsurance accounting and closed insurance books has put it in an ideal position to benefit.
Mon, 27 Jun 2016 14:21:00 +0100
Chesnara's chief says company will continue to grow through acquisitions John Deane, chief executive at life and pensions group Chesnara (LON:CSN) tells Proactive Investors that 2015 was another year of solid delivery on the group's core strategic objectives.

Deane says the acquisition of the Waard Group in the Netherlands  made a significant contribution to the company's cashflow last year and that the company will continue to grow through acquisitions.

He describes market conditions in the UK as "nervous" due to the impending EU referendum but says the group still targets 10-15% market share in each of its key market.

Tue, 26 Apr 2016 15:08:00 +0100