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.

RLI falls to property underwriting loss following Q3 catastrophes

21st October 2021

US property and casualty insurance company RLI Corp. has posted a property underwriting loss of $16.5 million during the third quarter of 2021, after incurring $28.9 million of catastrophe losses for the period. Overall net earnings for the quarter were $29.4 million, down from $42.4 million for the same period last ... Read the full article

Guy Carpenter’s underlying revenue up 15% as Marsh hails outstanding quarter

21st October 2021

Reinsurance broker Guy Carpenter has reported a 15% rise in underlying revenue to $314 million for the third quarter of 2021, as its parent Marsh McLennan delivered impressive year-on-year growth. Buoyed by revenue growth across the business, global insurance and reinsurance brokerage Marsh McLennan has reported an increase in underlying revenue ... Read the full article

Munich Re announces Bernd & Ida losses of €1.8bn in Q3

19th October 2021

For Q3 2021, global reinsurance giant Munich Re has pre-announced losses of roughly €600 million from the impacts of windstorm Bernd in Europe in July, and losses of around €1.2 billion from Hurricane Ida in the U.S. The cost of Bernd, which resulted in severe flooding and flash floods in Germany ... Read the full article

Travelers reports net income of $662m; record net written premiums

19th October 2021

The Travelers Companies, Inc. has reported net income of $662 million, core income of $655 million, and record net written premiums (NWP) of more than $8.3 billion for the third quarter of 2021, despite a rise in catastrophe losses to $501 million, net of reinsurance. Although still solid, the insurer's net ... Read the full article

Truist reports income growth for insurance segment

15th October 2021

Purpose-driven financial services firm Truist Financial Corporation has reported net income of $105 million for its Insurance Holdings segment in the third quarter of 2021. Although this is lower than the segment's Q2 income of $156 million, it represents an increase of $28 million on the $77 million that it reported ... Read the full article

Helios operating loss grows despite reinsurance recoveries

1st October 2021

Helios Underwriting has reported an operating loss of £480,000 for the first six months of 2021, despite its exposure on the open underwriting year being reduced by 46% thanks to its quota share reinsurance program. This compares with an operating loss of £108,000 for the H1 period last year, although Helios ... Read the full article

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

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