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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.

Year-on-year average premium rates remain positive: Applied Systems

24th November 2021

Applied Systems has announced the third quarter 2021 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. The company discovered that overall, the magnitude of rate increases increased across all lines, in comparison with the average premium renewals in the same quarter last year with 8.76% in ... Read the full article

9M results show $6bn underwriting loss for US P&C industry: AM Best

22nd November 2021

Increased losses and expenses in the US property and casualty (P&C) industry during the first nine months of 2021 led to a $6.1 billion underwriting loss for the period, according to a new AM Best report. According to the report, the P&C industry recorded 8.2% growth in net earned premiums and ... Read the full article

Net premiums up, but combined ratio deteriorates for RAA’s cohort of reinsurers

19th November 2021

The latest data from the Reinsurance Association of America (RAA) shows that a group of 17 U.S. property / casualty reinsurers wrote $57.3 billion of net premiums during the first nine months of the year, although the group's combined ratio deteriorated slightly to 100.7%. Net premiums increased from the $49.3 billion ... Read the full article

Tokio Marine Intl. non-life profit up by 200%

19th November 2021

Total non-life profits from the international operations of re/insurance holding company Tokio Marine rose by 199.2% to $1.1bn in the second quarter of 2021’s financial year. The improved performance was driven by North America, although a better result was also evident in its European operations. According to Tokio Marine, its international operations ... Read the full article

Sompo International profits recover to $313m in H1

19th November 2021

Bermuda-based specialty P&C re/insurer Sompo International Holdings has recorded adjusted profit of $313 million for its fiscal H1 period, bouncing back from a loss of $14 million for the same period last year. The company reported a marked improvement in profits over the six months ending September 30th, mainly due to ... Read the full article

MS Amlin reports H1 loss on Ida and European floods

19th November 2021

MS Amlin has reported a £101 million adjusted loss for the first half of the year, despite a 10.9 percentage point improvement in its combined ratio to 99.9% for the period. The main reason for the negative result was catastrophe losses in the period, driven mostly by the impacts of Hurricane ... Read the full article

VIG reports 41% rise in 9M profits

18th November 2021

Vienna Insurance Group (VIG) has reported a 41.2% rise in profit before taxes for the first nine months of 2021, which totalled €376 million, versus €266.3 million for the same period last year. The company also recorded a 0.9 percentage point improvement in its combined ratio of 95.2%, as the impact ... Read the full article

Ardonagh’s 9M 2021 income rises 30%

18th November 2021

UK-based independent insurance distribution platform and global brokerage, The Ardonagh Group, has reported a 30% rise in income for the first nine months of 2021 to £675.7 million, supported by strong growth in its Specialty and International units. Total income improved markedly from the £519.5 million reported for the same period ... Read the full article

Hannover Re parent Talanx reports €177m Q3 income

15th November 2021

Hannover Re's parent company Talanx has reported group net income of €177 million during the third quarter of 2021, bringing its total for the first nine months of the year to €723 million. Although the Q3 figure is slightly down from the €194 million reported in the same period last year, ... Read the full article

IRB Brasil Re falls to net loss in Q3 as re-underwriting strategy continues

12th November 2021

Brazilian reinsurer IRB Brasil Re has fallen to an underwriting loss of R$677.8 million (USD 125mn) for the third quarter of 2021, alongside a 12.4% decline in gross written premium (GWP) to R$2.6 billion (USD 479mn). IRB Brasil Re is in the process of a re-underwriting strategy, which is a driver ... Read the full article

Midwest announces $3.1mn Q3 net loss

12th November 2021

Midwest has reported a third quarter net loss of $3.1 million, against a net loss of $5.5 million in the prior year quarter. Revenue was $5.8 million compared to negative $0.5 million in the third quarter of 2020, driven by an increase in investment income from growth. Invested assets grew to $942.8 ... Read the full article

Brookfield Reinsurance posts Q3 loss of $6m

12th November 2021

Brookfield Asset Management Reinsurance Partners Ltd. (Brookfield Reinsurance) has posted a net loss of $6 million for the third quarter of 2021, despite closing a number of significant transactions during the period. The company also reported a net loss of $1 million for the first nine months of the year, but ... Read the full article

IGI reports net profit of $16.1mn for Q3

12th November 2021

International General Insurance Holdings (IGI) has reported a net profit of $16.1 million for the third quarter of 2021, compared to $5.1 million for same prior year period. The company’s core operating income was $15.4 million and $6.4 million for the quarters ended September 30, 2021 and September 30, 2020, respectively. The ... Read the full article

Ryan Specialty reports 49% rise in revenue for the third quarter of 2021

12th November 2021

Ryan Specialty Group Holdings, Inc. has reported a 49% rise in revenue to $352.8 million for the third quarter of 2021, as the one-time costs of its completed initial public offering (IPO) resulted in a net loss of $32.6 million for the period. The company launched its IPO in July of ... Read the full article

United (UPC Insurance) lowers cat retention, continues to reduce exposure

12th November 2021

United Insurance Holdings Corp. (UPC Insurance), the Florida headquartered but regionally expansive insurer, has reported a narrower net loss for the third quarter of 2021, while its premium base continues to decline amid a retreat from the catastrophe space. A net loss of $14.3 million marks an improvement on the net ... Read the full article

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