Reinsurance News

Results news

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.

IGI sees 27% rise in gross premiums in strong Q1

20th May 2022

International General Insurance Holdings Ltd. (IGI) has reported a gross written premium (GWP) $128 million for Q1 22, representing a 27% growth compared to GWP of $100.6 million from last years quarter. IGI stated that the increase in GWP was the result of new business generated across all segments and virtually ... Read the full article

MS Amlin grows in 2021 but natural catastrophes dent underwriting result

20th May 2022

Specialist insurer and reinsurer MS Amlin has reported an improved but still unprofitable underwriting result of -£197 million for the full-year 2021, as natural catastrophe losses swelled to £296 million, somewhat offset by a much lesser impact from COVID-19. The underwriting performance does show a £79 million improvement from the loss ... Read the full article

Sompo International doubles full-year profit

20th May 2022

Bermuda-based specialty P&C re/insurer Sompo International Holdings has reported adjusted profit of 61.8 billion yen (USD 483.0 million) for the full-year 2021, up from 31.8 billion yen (USD 248.5 million) last year. The company mainly attributed its growth to the performance of its commercial P&C business unit, which saw underwriting profit ... Read the full article

PartnerRe falls to net loss on investments, but non-life underwriting improves

20th May 2022

Bermuda-based PartnerRe has reported an improvement in non-life underwriting for the first-quarter of 2022, although unrealised losses on the back of increases in interest rates has resulted in a net loss of $539 million. The net loss reported by PartnerRe represents a deterioration from the $66 million loss announced in Q1 ... Read the full article

Convex reports 93% rise in GWP as net loss narrows in 2021

19th May 2022

Specialty insurer and reinsurer Convex has reported a rise in gross written premium (GWP) for the full-year 2021 to more than $2.1 billion, as the Group announces a reduced net loss of $158 million for the period. For 2021, the re/insurer's net loss shrank by almost 12% from the $179 million ... Read the full article

Ardonagh sees Q1 income rise 44% to £288 million

19th May 2022

The Ardonagh Group has reported a 44% rise in income from £200 million to £288 million for the first quarter of the year. The broker also reported an adjusted EBITDA increase of 29% to £85.5 million, compared to last years £66.3 million. Gross written premium (GWP) for the quarter was £10 billion. At ... Read the full article

Generali sees GWPs up 6.1% in Q1 2022

19th May 2022

Generali is reporting that its gross written premiums in Q1 2022 to €22.3bn, or 6.1%. However, the firm said that its net result was down to €727m in the quarter, down from €802m in the preceding year’s same quarter. This, it said, had been impacted by impairments on its Russian investments ... Read the full article

Aviva posts record Q1 general insurance premiums

18th May 2022

Insurer Aviva has reported gross written premium (GWP) growth of 5% in its General Insurance business for the first quarter of 2022, to £2.1 billion. The Q1 2022 total is a record for the segment and comes after GWP of £2 billion in Q1 2021, driven by strong sales in commercial ... Read the full article

Lockton posts record Q1 revenue growth

17th May 2022

Insurance and reinsurance broker Lockton has posted record revenue growth of 27% over the period from Q1 2021 to Q1 of this year, most of which was organic revenue growth. The company reported revenue of $2.69 billion for the first quarter of 2022. "Our results are the outcome of being comprised of ... Read the full article

Hippo reports 25% YoY growth in total generated premium in Q1

13th May 2022

Home insurer Hippo has announced total generated premium (TGP) growth of 25% YoY to $154 million in Q122, compared to $123 million from the prior years quarter. The quarter also included a rise in gross written premium (GWP) to $117 million, a 17.9% difference to last years $99 million. At the same ... Read the full article

Ryan Specialty posts organic revenue growth of 20%

13th May 2022

International specialty insurance firm Ryan Specialty Group has posted revenue of $386.9 million for the first quarter of 2022, representing growth of 24.2% over last year, including 20.4% of organic revenue growth. Ryan Specialty explained that the high rate of organic revenue growth was driven by new client wins, expanded relationships ... Read the full article

Brookfield Reinsurance reports huge increase in net income in Q1 2022

13th May 2022

Brookfield Reinsurance is reporting that its net income in Q1 2022 was $128m, up from $3m at the same point in the preceding year. The firm said in releasing its unaudited results that its highlights for the quarter were seven pension risk transfer transactions, representing $109m of new premiums; adding over ... Read the full article

Ambac posts specialty P&C loss amid business transition

12th May 2022

Ambac Financial Group, Inc. has posted net income of $2 million for the first quarter of 2022, and adjusted earnings of $14 million. This compares to net income of $17 million and adjusted earnings of $41 million for the same period last year. However, its specialty property and casualty business segment recorded ... Read the full article

Allianz sees revenues rise 6.2% in Q1 2022

12th May 2022

Allianz has said that it saw total revenues of €44bn in Q1 2022, which the insurer said reflected a rise of 6.2%. However, it said it had seen a slight decline in operating profit of 2.9% due to the quadrupling of claims resulting from natural catastrophes. In releasing these results, the ... Read the full article

Zurich grows in P&C in Q1, sees immaterial exposure to Ukraine war

12th May 2022

Global insurer Zurich has seen its property and casualty (P&C) gross written premiums (GWP) jump by 8% in the first-quarter of 2022, as the carrier announces an expected immaterial exposure to Russia's invasion of Ukraine. P&C GWP rose from $11 billion in Q1 2021 to more than $11.9 billion in Q1 ... Read the full article