Bermuda-domiciled Hiscox has announced a 32% increase in premiums for the first nine months of 2009 to £1.2bn. Chairman of the group Robert Hiscox said: "Rates are stable and still very healthy in most areas, particularly reinsurance which accounts for over a third of our business." Premiums on key reinsurance lines increased by over 10% and energy rates hardened by between 5-10% and over 50% for Gulf of Mexico risks, the company said. Hiscox's largest division, Hiscox London Market recorded a 27% rise in premiums to £575.7m, helped by favourable exchange rates and a benign claims period. Premiums from its international business were up 53% at Hiscox Bermuda to £163.7m, 85% at Hiscox USA to £87.2m and 47% at Hiscox Guernsey to £60.5m, which the company said was driven by kidnap and ransom and piracy lines of business. The group's investment portfolio recorded a return of 3% during Q3 2009.

Beazley has reported a 45% increase in premiums for the first nine months of 2009 to £861.9m, reflecting positive results from acquisitions and the strengthening of the US dollar. The group, which writes 75% of its business in US dollars, said on like-for-like exchange rates the increase would be 18%. Beazley's acquisition of US surplus lines underwriter First State Management Group added $75.9m (£45.1m) in the first nine months of 2009 while the new accident and life insurance team at London-based Momentum Underwriting added £34.7m of business to the pot. The group recorded average rate increases of 4% across its portfolio and stronger increases in catastrophe-exposed lines of business, particularly reinsurance where rate increases of 9% helped premiums almost double to £122m. Beazley said an increased number of claims on its recession-hit political risk and contingency portfolio has offset favourable claims development in specialty lines, marine and reinsurance. It said it expects losses on the political risk account to impact profit by £33m. Investments recorded a 31% increase to £2.2bn. The company added that it is on track to recording a 90% combined ratio.

Allianz Group has reported operating profits up 23% in Q3 2009 to €1.9bn, its highest level since the second quarter of 2008 and driven by recovery in its life insurance business. The group said its property/casualty operating profit for Q3 – 18% down at €1bn – was "still below normal level" but was "the best quarterly result in 2009". Gross premiums from p/c business totalled €10.2bn, down on €10.8bn for Q3 2008. Allianz said credit insurance and its operations in Germany, France and Italy were all affected by the recession and a high number of weather-related claims. The combined ratio improved by two percentage points from Q2 2009 to 96.9% and fell almost into line with the 96.5% recorded for Q3 2008. Oliver Bäte, CFO of Allianz SE, said the p/c result was "reasonable" but "is not yet satisfactory". The group's life and health insurance business recorded a 15% increase in premiums to €10.8bn and operating profit increased by 294% to €859m. Allianz's Financial Services unit added €332m to overall operating profit, almost double compared with Q3 2008. Total net income from continuing operations recorded a gain of 143% to €1.3bn. Revenues for the quarter increase 5.2% to €22bn and the group's solvency ratio closed the quarter at 164%.

The chief executive of Insurance Australia Group (IAG) has told shareholders that it expects to report insurance margins at the upper end of existing forecasts if its performance in the first quarter of the 2010 financial year continues at the same pace. Michael Wilkins, managing director and CEO, confirmed insurance margin guidance at 9-11% for full-year 2010. He said the company's underlying performance has improved during the first quarter, helped by narrowing credit spreads. Mr Wilkins also told shareholders gathered for IAG's annual general meeting that the company expects to meet its target of 3-5% growth in gross written premium, but he warned that this figure "is likely to be affected by the strength of the Australian dollar". Also at the AGM, chairman James Strong named Brian Schwartz as new deputy chairman and his likely successor when he retires at the end of the 2010 financial year.