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.
PIC reports strong year in FY22 results
20th March 2023
Pension Insurance Corporation Group Limited, the ultimate parent company of Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has released its full-year results for 2022. The company reported a total adjusted operating profit of £388 million for FY22, compared to £533 million from 2021. At the ... Read the full article
IVANS Index shows yoy increases in average premium renewal rates
17th March 2023
Data from the latest IVANS Index shows that year over year all lines of business experienced an increase in average premium renewal rate over February. According to the report, Business Owners Policy (BOP) and Commercial Property remain the highest premium renewal rate increases year over year. Additionally, month over month, BOP, General ... Read the full article
VIG Re reports “all-time highs” performance for 2022 with €30.7m profit
16th March 2023
VIG Re has published its preliminary financial results for 2022 reporting an “all-time highs” performance with a pre-tax profit of €30.7m, a 19.7% gross written premium (GWP) increase, to €792.3m, and an improved net combined ratio of 91.9%. The reinsurance company of Vienna Insurance Group noted that an “above average growth” ... Read the full article
Maiden Holdings reports sharp rise in net income, despite $35.5mn underwriting loss
16th March 2023
Maiden Holdings Ltd., has reported a net income of $36.2 million for the fourth quarter of 2022 compared to net income of $16.2 million from the fourth quarter of 2021. The firm’s reported net income for Q4 is also a huge improvement from its $8.2 million net loss from Q322. At ... Read the full article
Porch revises financial statements after reinsurance error
15th March 2023
Software company Porch Group has had to revise its previously issued financial statements for the first three quarters of 2022, after identifying an “error” in the accounting of its reinsurance arrangements. As a result of this error, the company determined that the cost of revenue was understated by $4.0 million for ... Read the full article
VIG expecting higher premium volume in FY22 results
15th March 2023
Vienna Insurance Group (VIG) has announced its preliminary results for FY22, which includes a total premium volume of €12.6 billion, exceeding the value of the previous year by €1.6 billion, or 14.1%. VIG noted that the figure includes the newly acquired insurance companies in Hungary and Türkiye, which bring a premium ... Read the full article
Inigo reports $28.7m pre-tax profit for 2022
15th March 2023
Specialty re/insurer Inigo has published a pre-tax profit of $28.7m for 2022 alongside a combined ratio of 94.4%. In its second full year of operation, the start-up led by Richard Watson, also reported growing Gross Written Premiums (GWP), which increased 95% to $801.5m. According to the announcement, Inigo’s net assets grew from ... Read the full article
Talanx reports rise in net income despite record losses from natural disasters
15th March 2023
Talanx Group, the parent company of Hannover Re, has reported a rise in group net income to €1.17bn for the full year 2022 despite total large losses from natural disasters of €1.5bn, the highest volume in the history of the firm. Talanx states that its primary insurance operation (encompassing the Industrial ... Read the full article
Generali achieves record operating result, P&C growth
14th March 2023
Italy-headquartered insurer Generali has reported a record operating result of €6.5 billion for 2022, helped by a significant improvement in its Life segment results, as well as premium growth in Property and Casualty (P&C). The overall operating result was up 11.2% over the previous year, although the increase in the net ... Read the full article
US commercial prices up 4.8% through Q4: WTW
13th March 2023
US commercial insurance prices rose again in the fourth quarter of 2022, according to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 4.8%. The survey compared prices charged on policies underwritten during the fourth quarter of 2022 with those charged for the same coverage ... Read the full article
P&C reinsurers grow net premiums by 8.6% over 2022: RAA
13th March 2023
New data released by The Reinsurance Association of America (RAA) shows an 8.6% increase in net premiums written by US property and casualty (P&C) reinsurers over 2022. The data, collected by RAA from 17 reinsurers globally, also shows that the combined ratio for the group remained unchanged from the previous year ... Read the full article
Fortegra specialty business drives revenue growth at Tiptree
10th March 2023
Holding company Tiptree has reported a substantial increase in revenues for 2022, with growth driven to a large degree by the company’s global specialty insurance subsidiary, Fortegra. Revenues increased by 16.4% to $1.4 billion thanks to growth in the insurance business, as well as increases in charter rates and a maritime ... Read the full article
HCI Group reports Q4 2022 net income of $2.7m
10th March 2023
Florida-based HCI Group has reported a net income of $2.7 million in the fourth quarter of 2022, compared with a net income of $1.4 million, from the fourth quarter of 2021. At the same time, the company’s net loss for the year so far currently stands at $54.6 million compared to ... Read the full article
IRB Brasil RE reports R$630.3mn net loss in full-year results
9th March 2023
Brazilian reinsurance company IRB Brasil RE has recorded a net loss of R$630.3 million in its full-year results, compared to a net loss of R$682.7 million from 2021. At the same time, for Q4 22, the firm came close to reaching the break-even point, with a net loss of R$38.8 million, ... Read the full article
Aviva sees 8% rise in GWP in 2022 results
9th March 2023
Aviva has reported General Insurance gross written premiums (GWP) are up 8% to £9,749 million in its full-year financial results for 2022, compared to the prior year’s £8,807 million. The firm notes UK & Ireland GWP are up 7% to £5,740 million, compared to 2021’s £5,352 million, with Canada GWP up ... Read the full article
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