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.
Palomar Holdings reports significant GWP growth amid high cat losses
4th May 2023
Specialty insurer Palomar Holdings has published its first quarter 2023 results reporting a net income of $17.3 million, a 46.3% increase in gross written premiums (GWP) and a combined ratio of 77.9%. This first quarter the company’s net income was up 19% compared to Q1 2022, when Palomar reported a net ... Read the full article
Lancashire Holdings CEO expects aviation portfolio growth by year end
4th May 2023
Alex Maloney, the Chief Executive Officer (CEO) of Lancashire Holdings Limited, expects the re/insurer's aviation portfolio to grow by the year end. “We're overall pretty confident that we'll be able to grow our aviation portfolio at the end of the year,” Maloney said in Lancashire's recent first-quarter earnings call. He explained that ... Read the full article
SiriusPoint reinsurance segment aids improved Q1 result
4th May 2023
Global specialty re/insurer SiriusPoint has reported net income of $139 million for the first quarter of 2023 on a core combined ratio of 80.5%, helped by a significant improvement in the performance of its reinsurance segment. The company’s Q1 income this year represents a $358 million increase over last year’s ... Read the full article
Allstate reports Q1 net loss driven by catastrophe hit of $1.69 billion
4th May 2023
U.S. primary insurer Allstate Corporation has reported a net loss of $346 million in Q1 of this year, compared to a net income of $634 million in the same quarter of 2022. Allstates Q1 2023 results were cuffed by overall catastrophe losses of $1.69 billion. According to the firm, catastrophe losses ... Read the full article
Hiscox sees attractive rates across all segments as written premiums hit $1.4bn
4th May 2023
Specialist insurer and reinsurer Hiscox has announced that net insurance contract written premiums (ICWP) increased by 7.4% to $1.42 billion in Q1 2023, as the carrier highlights an attractive rate environment across all business segments. In its Q1 2023 trading statement, Hiscox highlights a favourable rate environment, with particularly attractive rates ... Read the full article
Global InsurTech funding rises by 37.6% in Q1 2023: Gallagher Re
4th May 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter's lowest total since Q1 2020. While the deal count remained steady, the average deal ... Read the full article
Swiss Re hails robust price improvements as Q1 net income hits $643m
4th May 2023
Swiss Re, one of the world's largest reinsurance companies, has today reported net income of $643 million for the first quarter of 2023 compared with a loss of $248 million a year earlier, as the firm's property and casualty (P&C) reinsurance combined ratio improved despite elevated nat cat activity. Group-wide, net ... Read the full article
Step change in property reinsurance will be ‘reasonably persistent’, says RenRe CEO
3rd May 2023
The President and Chief Executive Officer (CEO) of Bermuda-based reinsurer RenaissanceRe (RenRe), Kevin O'Donnell, expects the supply demand imbalance in property reinsurance to continue as concerns around climate change and elevated losses from natural disasters persist. Speaking recently during the firm's Q1 2023 earnings call, O'Donnell addressed the current reinsurance market ... Read the full article
Verisk grows insurance segment revenue by 11% in Q1
3rd May 2023
Insurance and analytics provider Verisk has reported marginally higher revenues of $651.6 million for the first quarter of 2023, aided by revenue growth of 11.1% within its insurance segment, including growth of 9.8% on an organic constant currency (OCC) basis. The company attributed the “modest” 1.2% growth in its overall revenues ... Read the full article
James River reports $7m net income in Q1 2023
3rd May 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has reported a total net income of $7.0 million for the first quarter of 2023, and a combined ratio of 94.9% This year’s Q1 net income was a lower figure compared to the $9.3 million reported in the same period last ... Read the full article
Assurant’s net income decreases 24% in Q1
3rd May 2023
US specialty insurance group Assurant has reported a GAAP net income of $113.6 million for the first quarter of 2023, representing a 24% decrease compared to $149 million from the same period last year. The company noted that the decrease was primarily due to lower earnings in Global Housing, including higher ... Read the full article
Echo Re reports GWP increase as profits swell in 2022
3rd May 2023
Swiss-based reinsurer Echo Re has reported a substantial increase in gross written premium in its 2022 full year results, up to CHF 283.6 million. Total technical income for 2022 was CHF 222.1 million, an increase from CHF 188.9 million in 2021. Total technical expenses for the year were CHF 208.8 million, which ... Read the full article
American Financial Group posts nearly 27% fall in Q1’23 net income
3rd May 2023
American Financial Group, Inc. (AFG) has reported a net income of $212 million for the first-quarter of 2023, compared to $290 million in Q1 2022, driven by after-tax non-core net realized losses on securities of $37 million. In Q1, AFG’s net earnings included after-tax non-core net realized losses on securities of ... Read the full article
Peak Re records $81mn net loss in 2022 results
3rd May 2023
Hong Kong-based global reinsurer Peak Re has recorded a net loss of US $81 million in its full-year results for 2022, compared to the prior year’s net profit of $73.2 million. At the same time, the company reported a 7% rise in gross written premium (GWP) to $2.3 billion, up from ... Read the full article
The Hanover posts Q1 loss as cat loss results in weaker combined ratio
3rd May 2023
The Hanover Insurance Group, Inc. reported a net loss of $12.0 million in the first quarter of 2023, compared to net income of $104.9 million, as its pre-announced $175.0 million in catastrophe losses resulted in a combined ratio of 104.4 percent. Group-wide, operating income also decreased from $117.7 million in Q1 ... Read the full article
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