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.
Ping An profits down in H1, but P&C growth stable
28th August 2020
Ping An Insurance (Group) Company of China, Ltd. has reported a 28.2% decrease in net profit over the first half of 2020, partially offset by continued stable growth in its property and casualty (P&C) segment. Net profit came to RMB 75.97 billion (USD 9.07 billion) for the six-month period, while operating ... Read the full article
CPIC says Swiss Re investment helps optimise ownership structure
25th August 2020
China Pacific Insurance Company (CPIC) has said that an investment by Swiss Re has helped to optimise its ownership structure, after the reinsurer participated in CPIC’s recent listing on the London stock exchange (LSE). Alongside the release of its H1 results, CPIC explained that the investment from Swiss Re had “laid ... Read the full article
Reinsurance growth lifts Sava Re revenue in H1
24th August 2020
Slovenia domiciled reinsurance firm Sava Re has grown its operating revenue by 16.6% over the first half of 2020, due to expansion of its freedom of services (FoS) business and growth in reinsurance business. During H1, the Sava Insurance Group generated almost €314.2 million in operating revenue (51.5% of the original ... Read the full article
Suncorp reports improved group net profit for FY20
21st August 2020
Australian insurer Suncorp has reported Group net profit after tax of AUD 913 million for FY20, which includes a gain of AUD 285 million from the sale of its Capital SMART and ACM Parts businesses. In comparison, Suncorp reported Group net profit after tax of just AUD 175 million for ... Read the full article
IGI improves underwriting result in 2020, combined ratio strengthens
14th August 2020
International General Insurance Holdings Ltd. (IGI) has reported an increase in gross written premiums (GWP), an improved underwriting result and stronger combined ratios for both the second-quarter and first half of 2020, when compared with the prior year periods. Despite the challenging impacts of the ongoing COVID-19 pandemic, IGI has reported ... Read the full article
BRP Group’s revenue jumps 55% in Q2
14th August 2020
Independent insurance distribution firm, BRP Group, Inc., has reported a net loss of $3.6 million for the second-quarter of 2020, while revenue jumped 55% year-on-year to $51.3 million. The company's Q2 2020 performance also includes 19% of organic revenue growth, while "MGA of the Future" revenue increased 39% from Q2 2019 ... Read the full article
Aegon earnings decline 31% to €700 million
13th August 2020
Aegon, a provider of life insurance, pensions and asset management, has reported a 31% decrease in underlying earnings over the first half of 2020, caused by adverse mortality and impacts from lower interest rates in the US. Underlying earnings were reduced to €700 million, from €1.01 billion for the same period ... Read the full article
QBE posts H1 loss, as virus claims near reinsurance trigger
13th August 2020
Australian insurer QBE has posted an AU $712 million (US $510 million) loss for the first half of 2020, driven by underwriting impacts from COVID-19, large catastrophe losses, and a poor investment performance. The results compare with a profit of $463 million for the same period last year, as performance was ... Read the full article
Zurich’s BOP falls 40% in H1 on COVID-19 and elevated cat losses
13th August 2020
Global insurer Zurich has announced a 40% dip in business operating profit (BOP) for the first half of the year to $1.7 billion, driven mostly by an impact of $686 million related to the ongoing COVID-19 pandemic. As well as the decline in BOP, Zurich has today reported a 42% contraction ... Read the full article
ProSight posts record income in Q2
12th August 2020
Property and casualty insurer ProSight Global has posted record net income of $17.6 million during the second quarter of 2020, helped by strong investment returns. Income compared with $8.62 million for the same period in 2019, while investment income was $23.8 million this year versus $17.4 million previously. Combined ratio was record ... Read the full article
Lemonade shrinks net loss in Q2, grows premiums
12th August 2020
Insurtech start-up Lemonade has released its results for the second quarter of 2020, reporting a 9% decrease in its net loss and a 115% increase for in force premiums (IFP). The firm posted a net loss of $21.0 million for Q2, compared with a net loss of $23.1 million for the ... Read the full article
Oxbridge Re posts 220% combined ratio for Q2
11th August 2020
Oxbridge Re, a provider of reinsurance solutions primarily to property and casualty insurers, has reported a net income of $165,000 in the second quarter compared to loss of $205,000 last year. The combined ratio for the three and six months ended June 30, 2020 was 220.0% and 143.0%, respectively, compared to ... Read the full article
MS Amlin falls to £136mn loss in Q1
10th August 2020
Global insurer and reinsurer MS Amlin has reported a net loss of £136 million for the first quarter of the 2020 financial year, mainly due to volatility in the investment markets. Income was down £159 million from the £24 million recorded in the first quarter of FY2019. However, underwriting loss remained at ... Read the full article
Global Indemnity reports $37.6mn net income for Q2
10th August 2020
Global Indemnity has reported a net income of $37.6 million for the second quarter, compared to $14.7 million for the same period of 2019. Underwriting income was $21.7 million compared to $8.1 million for the comparable period in 2019. Combined Ratio was 85.2% while Investment Portfolio increased $82.8 million, or 5.3%, and ... Read the full article
Enstar earnings rebound on investment gains
10th August 2020
Legacy acquirer Enstar Group has reported a more than threefold increase in net earnings for the second quarter of the year, primarily driven by strong investments performance. Enstar reported net earnings of $798.6 million in Q2 2020, compared to $231.8 million for the same period last year. The increase was mainly due ... Read the full article