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.
Inigo’s CoR strengthens to 85.5% as GWP surpasses $1bn in 2023
24th April 2024
Specialist insurer Inigo Limited has surpassed $1 billion in gross written premium (GWP) in its third year of operation, as the company announces a significant, more than 400% rise in profit after tax of $144.5 million for the full year 2023. All in all, GWP rose by 35.2% to $1.1 billion ... Read the full article
Chubb reports Q1’24 net income increase and P&C CoR of 86%
24th April 2024
Global insurer Chubb has reported a net income increase of 13.3% to $2.14 billion for the first quarter of 2024, supported by a stronger performance in both its property and casualty (P&C) and Life insurance businesses in the period. As well as the rise in net income, Chubb has reported core ... Read the full article
W. R. Berkley reports Q1’24 combined ratio of 88.8% as underwriting income rises
23rd April 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q1 2024 combined ratio of 88.8%, including current accident year catastrophe losses of $30.5 million, leading to a 31.8% rise in pre-tax underwriting income to $309 million. The insurer’s gross premiums written (GWP) were $3.4 billion for Q1 2024, compared ... Read the full article
Brown & Brown’s net income climbs to $293m in Q1
23rd April 2024
Insurance brokerage firm, Brown & Brown has posted their results for the first quarter of 2024, which included net income of $293 million, increasing $57 million from the prior year period. Revenues for Q124 under US generally accepted accounting principles (GAAP) were $1,258 million, representing an increase of $142 million, or ... Read the full article
Munich Re posts quarterly profit of €2.1bn as P&C reinsurance CoR strengthens
23rd April 2024
Global reinsurer Munich Re has announced a preliminary net profit of €2.1 billion for the first quarter of 2024, as the firm highlights a better than expected operational performance across all lines of business. Munich Re will release its full Q1 2024 results on May 8th, but has today provided some ... Read the full article
RLI reports rise in net earnings and Q1’24 combined ratio of 78.5%
23rd April 2024
RLI Corp., a specialty insurer serving property, casualty and surety markets, has reported Q1 2024 net earnings of $127.9 million, compared to $98.8 million a year earlier. The insurer has announced underwriting income of $77.7 million on a combined ratio of 78.5% for the first quarter of 2024, compared to $67.9 ... Read the full article
Groupama posts premium income of €17.0bn in 2023, net income stands at €510m
22nd April 2024
French insurer Groupama has posted it's annual results for 2023, which includes a net income of €510 million, and a economic operating income of €627 million, despite an elevated climate-related claims charge (€1.3 billion before reinsurance). At 31 December 2023, the company's combined premium income stood at €17.0 billion, representing a ... Read the full article
Guy Carpenter’s revenue rises to $1.1bn in Q1’24
18th April 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan (MMC), recorded a 7% rise in revenue in the first quarter of 2024 to $1.1 billion, as MMC President and CEO, John Doyle, welcomes a "terrific start" to 2024 for the global broking group. The company's reinsurance arm sits within its Risk ... Read the full article
PURE sees 2023 combined ratio improve, direct written premiums increase 14%
18th April 2024
High net worth insurance specialist PURE Insurance has revealed that its direct combined ratio for 2023 fell to 102.2%, an improvement compared to the last two years, mainly due to stricter underwriting guidelines, pricing enhancements, and management’s efforts to reduce operating costs. However, while the firm noted it is pleased to ... Read the full article
Convex achieves net profit as FY’23 combined ratio strengthens to 89.6%
18th April 2024
Convex Group, the international specialty insurer and reinsurer, has reported its first annual net profit since inception, announcing 2023 net income of $503.2 million, a significant improvement on the $142.2 million loss seen in 2022. The 2023 net income figure includes the establishment of a deferred tax asset of $67.7 million ... Read the full article
Travelers starts 2024 with strong Q1 reporting net income of $1.123bn
17th April 2024
Primary insurance group Travelers has published its first quarter 2024 financial results, reporting 16% growth in net income despite an elevated level of catastrophe losses compared to the prior year quarter. The insurer saw its net income rise to $1.123 billion in Q1 2024, a figure that compares to the $975 ... Read the full article
Covéa’s 2023 net income improves amid positive reinsurance developments
17th April 2024
Covéa has reported a net income of €1.48 billion in 2023, up from €896 million in 2022, mainly driven by its reinsurance result, which was bolstered by the full-year integration of PartnerRe. Covéa's net income from reinsurance activities in 2023 was €1.08 billion, up from €857 million in the previous year. ... Read the full article
Conifer Holdings reports $143.8m GWP in FY23 results
8th April 2024
In their results for the full-year 2023, Conifer Holdings has reported a 4.2% increase in gross written premium (GWP), as it reached $143.8 million, compared to the previous year's $138 million. Net written premiums however, saw a 24.7% decline, coming in at $68.6 million for the period, compared to last year's ... Read the full article
Rothesay secures £12.7bn in new business premiums in 2023
5th April 2024
In their latest trading update, Rothesay, a prominent UK pensions insurance specialist, completed de-risking transactions with twelve pension schemes during 2023, resulting in new business premiums of £12.7 billion, a substantial increase from £3.3 billion in 2022, ultimately making 2023 one of the firm's "strongest years of growth to date." The ... Read the full article
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article