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.
IRB Brasil RE reports first underwriting profit in seven quarters
16th May 2023
Brazilian reinsurance company IRB Brasil RE has recorded a first-quarter of 2023 net profit of R$8.6 million, and an underwriting profit of R$3.7 million, the first positive one following seven quarters of losses. In 1Q 2022, IRB reported underwriting losses of R$96.4 million, a -103.9% difference compared to this year’s first ... Read the full article
FG Financial Group sees net reinsurance premiums increase to $3.7m
15th May 2023
In its Q123 results, FG Financial Group has reported that net reinsurance premiums earned increased to $3.7 million, from $2.5 million in the prior year quarter. According to the firm, its reinsurance operations benefited from continued increase in net earned premiums, without incurring any major losses from large catastrophe events. At the ... Read the full article
Oxbridge Re posts Q1’23 net income vs year-ago net loss
15th May 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a net income of $142,000 in the first-quarter of 2023, compared with a net loss of $387,000 in the prior year quarter. The company stated that the increase during the quarter is due to the ... Read the full article
AXA reports gross premiums written of €31.8 billion in Q1 2023
15th May 2023
Global re/insurer AXA has released its financial report for Q1 2023, with the company’s gross written premiums and other revenues increasing by 1% to €31.8 billion. Alban de Mailly Nesle, the Chief Financial Officer of AXA, said, “AXA performed well in the first quarter of 2023. We delivered robust growth in ... Read the full article
Talanx sees Q1 net income rise 31% to €423 million
15th May 2023
The Talanx Group has disclosed that its Group net income increased 31% in Q1 of 2023 to €423 million, while the firm's overall combined ratio also improved at 93.5%. Talanx's insurance revenue in the quarter grew to €10.7 billion, chiefly driven by expansion in primary insurance (+14.2%). Primary Insurance contributed 42.7% to ... Read the full article
Kingstone attributes underwriting loss to “difficult” winter
12th May 2023
P&C insurance holding company Kingstone Companies has reported a net loss of $5.1 million for the first quarter of 2023 on a combined ratio of 123.3%, which it attributes to a “difficult northeast winter.” This compares with a net loss of $9.2 million on a combined ratio of 124.5% for the ... Read the full article
Odyssey Group reports higher combined ratio of 96.4% for Q1 2023
12th May 2023
Odyssey Group, part of Fairfax Financial Holdings, has released its financial statements for Q1 2023, revealing a rise in its combined ratio year-on-year. The Group has reported a combined ratio of 96.4% for Q1 2023, which is higher than the Q1 2022 of 93.7%. Odyssey reported gross premiums written of $1.5 billion ... Read the full article
Maiden reports Q1 loss, names Haveron as sole CEO
12th May 2023
Bermuda-based Maiden Holdings has reported a net loss of $11.3 million for the first quarter of 2023, including an operating loss of $7.9 million, owing to losses across its AmTrust Reinsurance and Diversified segments. These figures compare with net income of $1.6 million for the first quarter of last year, and ... Read the full article
Brit reports 90.8% combined ratio in Q1
12th May 2023
Global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, Brit Ltd., has recorded a combined ratio of 90.8% in its Q123 results. The combined ratio figure represents an improvement from the prior year's quarter which came in at 91.8%. At the same time, the re/insurer reported $644 million in net premiums ... Read the full article
Skuld posts $32 million in 2022/23
12th May 2023
Marine insurance provider, Skuld, has reported $32 million for the year ended February 20, 2023, with a positive technical result of $15 million. The combined ratio improved year-on-year to 97%, Skuld noted. A strong 2022/23 renewal with portfolio growth both in mutual and commercial lines of business contributed to a growth in ... Read the full article
Fairfax Financial reports combined ratio of 94% for Q1 2023
12th May 2023
Fairfax Financial Holdings Limited has announced its Q1 2023 financial results, reporting net earnings of $1,250 million in Q1 2023 compared to net earnings of $588.7 million in Q1 2022. Net premiums written by the property and casualty insurance and reinsurance operations increased for Fairfax, 6.1% to $5,619.4 million in Q1 ... Read the full article
Trisura Group Q1 net income drops impacted by new IFRS standards
12th May 2023
Specialty insurer Trisura Group has announced its financial results for the first quarter of 2023, reporting a net income of $14.0 million and insurance revenue growth of 53%, which reflects sustained momentum across North America. According to the insurer, its net income in the quarter was impacted by the implementation of ... Read the full article
QBE posts $130 million hit from natural disasters in late 2022, including winter storm Elliot
12th May 2023
Australian insurer and reinsurer, QBE Insurance Group Limited, indicated an adverse development of $130 million on natural catastrophe events which primarily occurred in late 2022, including winter storm Elliot in North America and certain Australian events. As a result of these increasing costs, QBE hiked its FY23 plan Group combined operating ... Read the full article
Allianz sees 24.2% increase in Q1 operating profit to €3.7 billion
12th May 2023
Allianz has reported that its Q1 2023 operating profit increased 24.2% to €3.7 billion, which the firm attributes to strong performance in Life/Health and Property-Casualty business segments. Meanwhile, total business volume in Q1 2023 increased by 3.9% to €46 billion. Allianz states this growth was spearheaded by the Property-Casualty segment, which benefited ... Read the full article
Everest execs foresee rapid growth in 2023, expect strong mid-year renewals
12th May 2023
Juan Andrade, President and CEO of Everest Re, described the company’s Q1 2023 results as excellent. The company had significant top-line growth. It saw an underwriting profit, operating income and net income that are all up meaningfully in the quarter, while generating a 17% operating ROE. The company has seen success ... Read the full article
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