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Ansvar Insurance Records Significant Profits
April 28th, 2015

MEDIA RELEASE

Ansvar Insurance, Australia’s leading insurance provider for the Community, Care, Education, Faith and Heritage sectors, has posted its best results since 2008 with a profit before tax of $11.6 million.  In addition A.M. Best Asia-Pacific Limited has affirmed its financial strength and issuer rating of A- (excellent).  The outlook for both ratings is stable.

CEO Warren Hutcheon said “We are pleased with our recent financial results and A.M. Best ratings. It demonstrates the efficiency of our new operating model and that our key strategic projects are working.”

The key drivers of the improved outcomes included Ansvar’s new property reinsurance arrangements, the strength of its balance sheet, improved underwriting results, reductions in operating expenses and strong investment returns.  The investment performance was a key driver of the profit after tax of $7.3 million and the pre-tax return on capital of 15.5%.

Ansvar also delivered an underlying underwriting profit after excluding discount rate movements relating to reductions in market interest rates.  These discount rate movements were more than offset by corresponding market gains in the investment portfolio.

“More pertinently, Ansvar’s renewal rate in this period exceeded 90% which was an impressive result in a very competitive market and demonstrates Ansvar’s strong relationships with its broker partners and customers. It is very rewarding to see our company sustain its position as one of the most trusted insurers in the core sectors of Community, Care, Education, Faith and Heritage,” said Warren.

 

About Ansvar Insurance

Ansvar is a leading specialist commercial and consultative insurer offering tailored insurance products and services to the Care, Community Service (including Not-for-Profit), Education, Faith and Heritage sectors.  With more than 50 years of experience in the Australian insurance industry Ansvar has developed a deep understanding of its clients’ needs, and the risks and challenges they face, as well as the environments in which they operate.

Ansvar is a subsidiary of Ecclesiastical Insurance Office plc (Ecclesiastical) which was established in the UK in 1887. Ecclesiastical is owned by a charity and all available profits are distributed for the benefit of the church and the community.

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Ansvar Insurance

6 days 11 hours ago

We were delighted to support Anglicare Sydney last year as one of our 2017/2018 Community Education Program grant recipients

Anglicare's Waves of Wellness surfing program was given a $30,000 boost thanks to Ansvar Insurance's Community Education Program grant. Waves of Wellness uses surf therapy to support youth between 13 and 25 who are struggling with depression, anxiety and other mental health challenges. Mental Health Case Manager, Mark explains how the grant will allow Anglicare to continue helping young people in this way.

Ansvar Insurance

6 days 12 hours ago

Applications for our Community Education Program grants are now closed! Thank you to all of the organisations for submitting an application and we are appreciative of the time you have invested in completing it. Having received an overwhelming response, we are enthused by the high standard of application and admirable work that is occurring within local communities across Australia. Thank you for your interest and we wish you the best of luck in your applications! #grants #communitygiving #charity

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