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News on reinsurance and insurance company quarterly and annual results or reporting. Detailing news on the financial performance of insurance and reinsurance underwriting companies and brokers.

Africa Re “optimistic” after improved H1 performance

27th September 2021

Africa Re CEO Corneille Karekezi has said he is “cautiously optimistic” about the company’s prospects for 2021, following an H1 period that yielded improved underwriting and investment performance, as well as higher profits. Africa Re recorded a gross premium income of US $421 million in the first six months of 2021 ... Read the full article

PIC grows H1 profit amid “very busy” pension risk transfer market

14th September 2021

Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has reported improved profitability over the first six months of 2021, amid what CEO Tracy Blackwell describes as a “very busy” pension risk transfer market. The company posted adjusted operating profit of £221 million in H1, compared with £187 ... Read the full article

Lloyd’s returns to profit as underwriting performance improves

9th September 2021

The specialist Lloyd's insurance and reinsurance market has reported profit of £1.4 billion for the first-half of 2021, as the marketplace returned to underwriting profitability with an improved combined ratio of 92.2%. The overall result at Lloyd's has improved significantly from the net loss of £400 million reported for the same ... Read the full article

Aspen’s H1 net income improves to $87mn off underwriting, investments

7th September 2021

Bermuda domiciled re/insurer Aspen has reported a net income for 2021's opening six months of $87.4 million, rising from a $172.8 million prior period loss thanks in-part to superior underwriting performance. Underwriting profit for H120 stands at $33.3 million, compared to a loss of $109 million in 2020. Investment income has been recorded ... Read the full article

R&Q’s H1 premiums rise as legacy insurance sidecar Gibson Re launches

6th September 2021

Randall & Quilter Investment Holdings Ltd. (R&Q) has announced a pre-tax operating loss of $23.5 million for the first half 2021 against a gain of $12.8 million a year earlier. The firm has also launched Gibson Re, a legacy insurance sidecar vehicle. According to R&Q, the H1 2021 operating loss is ... Read the full article

Groupama reports a net income of €297mn

3rd September 2021

French insurer Groupama has reported an improved net income of €297 million, compared to €139 million for the second quarter of 2020. The group’s economic operating income was €264 million, including its life and health insurance, economic operating income was €168 million at 30 June 2021 compared with €114 million for ... Read the full article

Ryan Specialty Group reports Q2 net income of $63.4 million

2nd September 2021

Ryan Specialty Group has reported its net income for the second quarter of 2021 increased by 27.1% to $63.4 million, compared to $49.9 million in the prior-year period. Total operating expenses for the second quarter of 2021 were $297.8 million, a 57.8% increase compared to the prior-year period. This was primarily due ... Read the full article

CCR Re gross premium reaches €665mn in H1 2021

1st September 2021

French public-sector reinsurer CCR Re has reported gross premiums of €665 million during the first half of 2021, a 14% increase from the prior year period. Owing to the firm’s risk management and provisioning policy, underwriting profitability was unaffected by the consequences of COVID-claims covered in 2020. Underwriting profitability was also mostly ... Read the full article

P&C reinsurers enjoy profit and premium rise over H1: RAA

26th August 2021

New data released by The Reinsurance Association of America (RAA) shows an increase in both profitability and net premiums for US property and casualty (P&C) reinsurers over the first half of 2021. The data, collected by RAA from 17 reinsurers globally, shows a marked improvement in the combined ratio of the ... Read the full article

Peak Re profit growth drives higher reinsurance revenues for Fosun in H1

25th August 2021

Fosun International Ltd., the Chinese conglomerate and investment company, has announced a much-improved contribution from its insurance and reinsurance businesses during the first-half of 2021. Overall, the insurance and reinsurance operations at Fosun delivered RMB 15.48 billion (almost US $2.4bn) of revenues in the first-half of this year, achieving a ... Read the full article

Ardonagh sees H121 income rise 33.4% to £433mn

19th August 2021

The Ardonagh Group has reported a 33.4% rise in income to £443.2 million for the first half of 2021, and an adjusted EBITDA increase of 53.4% to £153.3 million. Year-to-Date the broker also shouldered £279.9 million in operating costs, a 24.5% increase from the prior year period. Results were said to be ... Read the full article

Hippo marks Q2 2021 with premium growth jump to $159mn

17th August 2021

Home insurer Hippo has seen its total amount of generated premium increase by 101% to $159 million for the second quarter of 2021. The firm also crossed $500 million in total generated premium in force and year-one customer retention grew to 88%. Two new products were highlighted as having been introduced to ... Read the full article

GIC Re’s combined ratio hits 123% in Q2

16th August 2021

GIC Re has announced a combined ratio of 123.36% for the second quarter of 2021, a considerable slide from the 112.16% previously registered in Q2 2020. Adjusted Combined Ratio is 112.35% against 105.88% for the prior year period Gross Premium Income stands at $192.6 million for second quarter, down from the $214.1 ... Read the full article

Brookfield Reinsurance secures Q2 net income of $2mn

16th August 2021

Brookfield Reinsurance has announced a second quarter net income of $2 million, up from the $1 million loss reported for the prior year quarter. The increase in net income is attributed to additional assets under management and stronger investment returns. At quarter end, The group held $1.1 billion in excess capital, which ... Read the full article

Midwest Holdings reports improvement in Q2 net income

13th August 2021

Midwest Holding Inc. has announced a GAAP net loss of $5 million for the second quarter of 2021 against a loss of $16.6 million for the prior year period, as the firm continues to advance its reinsurance pipeline. Alongside the year-on-year improvement in net income, Midwest has reported a rise in ... Read the full article

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