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.
HDI Global sees strong start to year with insurance revenue of €2.1 billion
23rd May 2023
The industrial insurer HDI Global SE, part of the Talanx Group, has reported that Q1 2023 insurance revenue was €2.1 billion, up from €1.8 billion in the same quarter last year, while the firm's combined ratio of 93.2% came in below the stated medium-term target of 95%. According to HDI, the ... Read the full article
Sompo International underwriting income up 25% in 2022 to $532m
19th May 2023
P&C re/insurer Sompo International has reported a 2022 underwriting income of $532 million, up 25% YoY due to margin improvement and top-line growth. For the fiscal year 2023, Sompo anticipates underwriting profit to increase to $789 million, led by loss ratio improvement in Agriculture and other insurance businesses. Meanwhile, gross premiums written ... Read the full article
Tokio Marine’s international business posts 29.8% growth in net premiums in FY22
19th May 2023
Tokio Marine’s international business posted a 29.8% rise in total net written premiums (NPW) to 2,570.4 billion yen at FY22, compared with 1,980.6 billion yen a year earlier. North America produced the strongest performance with 1,754.3 billion yen, representing year-on-year growth of 27.2% from 2021’s 1,378.9 billion yen. Asia & Oceania reported ... Read the full article
MS Amlin sees return to underwriting profit in FY2022 despite £144m net loss
19th May 2023
Lloyd’s global re/insurer MS Amlin has published its results for the financial year 2022 reporting an underwriting profit of £63 million, but its investment loss of £91 million resulted in a net loss of £144 million. The re/insurer’s underwriting profit grew £260 million from a £260 million loss in FY2021. According ... Read the full article
Kin’s Q1’23 GWP soars to $83.2 million, marking a 54% year-on-year increase
18th May 2023
Kin Insurance has reported a gross written premium (GWP) of $83.2 million for the first-quarter of 2023, up 54% from the year-ago $54.1 million. The GPW was positively impacted by $33.5 million in new bound premium, Kin said. Kin’s positive operating income jumped to $4.4 million, which was anchored by disciplined expense ... Read the full article
Aegon reports strong operating capital growth of 5% in Q1’23
18th May 2023
Aegon, a Netherlands-headquartered multinational life insurance, pensions and asset management company, has released its trading update for the first quarter of 2023, stating operating capital generation, before holding funding and operating expenses, increased by 5% compared to the same period in 2022, reaching €292 million. This growth can be attributed to ... Read the full article
Conduit Re reports 50.7% increase in premiums written for Q1 2023
17th May 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, announces its trading results for Q1 2023. Ultimate premiums written for Q1 2023 stand at $443.2 million, showing a 50.7% increase on Q1 2022. Gross premiums written for Q1 2023 hit $278 million, showcasing a 59.1% increase from Q1 ... Read the full article
West P&I earns $8m underwriting profit as claims dip
17th May 2023
In their 2022-23 financial year results, West P&I Club has reported an underwriting profit of $8 million. At the same time, the firm also recorded $293.2 million in gross earned premiums. West also achieved a 96.7% combined ratio for the financial year, despite challenging global economic circumstances, which represents the strongest result ... Read the full article
IGI reports a combined ratio of 78.4% for Q1 2023 as GWP rises 38%
17th May 2023
International General Insurance Holdings Ltd. (IGI) has reported its financial results for Q1 2023, where the combined ratio of the company was 78.4%, compared to 71.8% for Q1 2022. The increase was primarily the result of a higher loss and loss adjustment expense ratio. Wasef Jabsheh, the IGI Chairman and CEO ... Read the full article
Zurich P&C revenue up 11% in Q1 to $9.41 billion
17th May 2023
Zurich Insurance Group has reported that Q1 2023 P&C insurance revenue was up 11% on a like-for-like basis to $9.41 billion, driven by strong growth in commercial insurance and a further improvement in pricing. According to Zurich, all regions contributed to the aforementioned growth, though North America displayed the strongest performance, ... Read the full article
Munich Re’s Q1 2023 profit dips to €1.3bn as nat cats drive above-average losses
17th May 2023
Global reinsurer Munich Re has reported a net result of approximately €1.3 billion for the first quarter of 2023, down on the previous year (€1.5bn) as natural catastrophe events resulted in above-average losses for the firm, driven by the Turkey and Syria earthquake. Group-wide, insurance revenue from insurance contracts issued increased ... Read the full article
US PRT market expected to close largest Q1 on record with $6bn: LGRA
17th May 2023
According to Legal & General Retirement America (LGRA), the first quarter of 2023 is expected to “finish strong” with around $6 billion in total market volume for the US pension risk transfer (PRT) market, which will also surpass last year’s record of $5.3 billion. In their Q1 2023 PRT Monitor, LGRA ... Read the full article
Midwest Holding reports improved net income in Q1
16th May 2023
Midwest Holding Inc. has reported a GAAP net income of $3.8 million for the first quarter of 2023, a substantial improvement compared to $0.2 million that was recorded in the prior year quarter. GAAP total revenue in Q1 was $38.5 million compared with revenue of $2.6 million in the same period last year. The company ... Read the full article
United Insurance Holdings reports improved combined ratio of 70.5% for Q1 2023
16th May 2023
United Insurance Holdings Corp., the property and casualty insurance holding company, has released its financial results for Q1 2023. The company reported a combined ratio of 70.5% for Q1 2023 as compared to a ratio of 191.7% for Q1 2023. It reported a net income of $260.9 million for Q1 2023. ... Read the full article
Convex reports loss for 2022 as negative investment return offsets underwriting profit
16th May 2023
Global specialty insurer and reinsurer, Convex Group Limited, has reported an underwriting profit for the full-year 2022 with a significantly improved combined ratio, although a negative investment return pushed the firm to a net loss of $142 million for the year. While still a loss, at $142 million, it has come ... Read the full article
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