Ageas UK has posted a net profit of €29m in 2017 (2016: loss of €156m) despite a €46m Ogden impact. Gross Inflows, including Tesco Underwriting Ltd, decreased to €2bn (vs €2.2bn 2016), down three per cent at constant exchange rates. Motor inflows reduced to €1bn (vs €1.1bn 2016), down two per cent constant exchange rates. [...]

Reuters reports Daimler will invest €2.6bn in research and development at its trucks division by 2019. Daimler Trucks will focus on developing electric mobility, connectivity and automated driving technology for commercial vehicles. Mercedes-Benz is currently testing eActros trucks with an operating range of up to 200kms (125 miles) as part of a broader electrification push, [...]

AXA UK & Ireland has posted ‘strong’ results claiming its strategy of ‘moving from payer to partner is delivering consistent growth and profitability despite volatile market’. Overall, UK and Ireland revenues climbed from £4.39bn in 2016 to £4.53bn last year, with its combined operating ratio improving from 97.7% to 96.3%. Its underlying earnings dipped slightly [...]

The Genuine Parts Company, owners of the Alliance Automotive Group (AAG), has posted full year sales for 2017 of $16.3bn an increase of six per cent on the previous year. Sales for the fourth quarter ended 31 December 2017 were $4.2bn, an 11.3% increase compared to $3.8bn for the same period in 2016. Net income [...]

(Australia) AMA has acquired the Bears Group with its six locations coming under the Gemini banners. ‘The Bears group has decided to move away from the smash space,’ head of Bears Group, Steve Lozenkovski told Australian Paint & Panel. ‘We felt with a rapidly evolving industry we could focus our attention on other areas of [...]