Benfield Group ltd
Benfield: H1 2006 trading update
Reinsurance broker Benfield reported poor trading conditions in the first half of the year, not unexpected given that insurance volumes have fallen following the catastrophe losses of last year.
The impact of the huge losses last year has been to restrict underwriting capacity, hence the lower volumes. Benfield reported that ‘in loss-affected areas there has been […]
Benfield: 2005 results
Reinsurance broker Benfield reported a small decline in pre-tax profits for the year to December 2005 (£53.8m v £57.9m the previous year).
The trading result (operating profit from continuing operations before goodwill impairment, depreciation and exceptional items) dipped sharply by 26.7% to £63.3m (2004: £86.3m).
Profits in the company’s international business dipped by 35.6% to £32.6m […]
Benfield: trading statement
Reinsurance broker Benfield said that profits for the year 2005 would be in line with market expectations.
The company has continued to invest in infrastructure and people; both in its existing reinsurance intermediary business and in the development of a specialised intermediary business focused on the marine, energy and power sectors (formally launched as Benfield Corporate […]
Benfield:H1 results
Reinsurance broker Benfield’s trading profits for the half year to June 2005 fell 14% due to poor market conditions in the United States and heavy spending on infrastructure and new staff.
Group operating revenue declined to £196.2m (H1 2004: £204.9m), trading profits dropped to £82m (H1 2004: £95.5m) and trading margins weakened to 41.8% (H1 […]
Benfield:Trading statement
Benfield, the reinsurance intermediary, issued a gloomy trading update for 2005 warning that the company expects a lower trading result than in 2004.
Benfield has been sacrificing margins to capture market share, a rather aggressive strategy given the weaker trading environment. The company says that reported revenue will be lower than last year due to exchange […]
Benfield
Benfield Group, the reinsurance intermediary, announced flat operating results for the half year to June 2004. Reported operating revenue was up 0.4% to £206m while the reported trading profit was up 1.4% to £97.3m. In constant currency terms the performance was slightly better with revenue growth of 6.9% and the trading profit growing by 12.8%. […]
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