Aviva’s H1 2020 operating profit fell by 12% to £1.2bn y-o-y. Publishing its interim results, Aviva said general insurance net written premiums had remained stable at £4.8bn for the first half of the year. The group’s general insurance combined operating ratio had, however, deteriorated from 96.8% in H1 2019, to 99.8% for the first six months of 2020.
Munich Re saw profits fall by 42% to £522m in Q2 2020, compared to the same period last year. The re/insurer also announced COVID-19 related losses for the quarter of £632m taking pandemic losses for the first half of the year to £1.4bn.
Tokio Marine Kiln has published revised forecasts for the 2018 and 2019 years of account for its two non-aligned syndicates, 510 and 557.
Insurance broker and financial adviser Lycetts Holdings saw pre-tax profit rise to £1.3m for the year to December 2019. This is a year-on-year increase of £1.5m. Turnover for the same period rose to £22.7m, up from £21.6m in 2018.
A Finnish/South African consortium has bought Hastings Group in a deal valuing the UK insurer at £1.7bn. The consortium is called Dorset Bidco and comprises Sampo and Rand Merchant Investment Holdings. Prior to the deal being struck, Sampo and RMI owned a combined stake of 29.7% in Hastings.