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.
Trisura Group’s Q3 GPW rises 59% to $645mn
4th November 2022
Specialty insurer Trisura Group has reported $644.8 million of gross premiums written in the third quarter of 2022, an increase of 59.3% compared to $404.7 million from the prior year quarter, thanks to sustained growth in Canada and expansion in US fronting. Net income for the quarter increased by 48% to ... Read the full article
Fairfax Financial sees net loss of $75.1m in Q3 2022
4th November 2022
Fairfax Financial Holdings says it saw a net loss of $75.1m in Q3 2022 against net earnings of $462.4m in the same period in 2021. However, gross written premiums for the company in Q3 2022 reached $6,922.9m, up from $5,970.0m in Q3 2021. The firm said that this was an increase ... Read the full article
RGA reports net premium growth in Q3 2022
4th November 2022
Reinsurance Group of America (RGA) is reporting that its net premiums in Q3 2022 grew to $3,247m from $3,094m in the same quarter in the preceding year. The firm said in a statement accompanying its latest figures that net income to its shareholders in Q3 reached $284m, up from a loss ... Read the full article
Liberty Mutual reports net loss of $353m in Q3
3rd November 2022
Liberty Mutual Holding Company (LMHC), along with its subsidiaries, has said that elevated catastrophe losses and volatility within the investment markets has driven a net loss of $353m to the firm in Q3 2022. In releasing its result, the company said that pre-tax net catastrophe losses in the quarter were $1.4bn, ... Read the full article
Enstar reports net loss of $444mn in Q3 2022
3rd November 2022
Enstar Group has reported a net loss of $444 million in the third quarter of 2022, compared to a net loss of $196 million in the third quarter of 2021. This contrasted with the firm saying that its net loss for the year currently stands at $1.2 billion, compared to net ... Read the full article
Palomar reports premium and GWP growth in Q3
3rd November 2022
California-based Palomar Holdings, Inc., has reported an increase in its gross written premiums (GWP) of 66.2% to $253.1 million for the third quarter of 2022, compared to $152.3 million reported in the same period last year. Palomar’s net income also saw a rise this quarter, to $4.3 million compared to $0.2 ... Read the full article
Selective Insurance posts rise in net premiums in robust Q3 results
3rd November 2022
Selective Insurance Group has reported $903.4 million of net premiums written in the third quarter of 2022, an 11% increase from $813 million in the third quarter of 2021. At the same time, the company’s net premiums written for the year so far currently stand at $2.7 billion, an 11% increase ... Read the full article
Greenlight Re reports Q3 net loss as nat cats hamper underwriting operations
3rd November 2022
Greenlight Re has announced a net loss of $18.5 million for the third quarter of 2022, stating that Hurricane Ian loss, while manageable, overshadowed the significant progress the company has made in its underwriting operations. This has widened somewhat compared to a net loss of $13.9 million in Q3 of 2021. ... Read the full article
Kemper reports a net loss of $76.2m in Q3
3rd November 2022
Kemper Corporation has reported a net loss of $76.2 million for the third quarter of 2022, compared to a net loss of $75.3 million for the third quarter of 2021. Total revenues for Q3 of 2022 decreased $67.0 million, or 5%, to $1,377.6 million, compared to Q3 of the previous year, ... Read the full article
Allstate reports $694mn net loss in Q3 results
3rd November 2022
Allstate has announced a net loss of $694 million for the third quarter of 2022, compared to a net income of $508 million in the prior year quarter, primarily due to an underwriting loss and equity valuation declines. The company’s adjusted net loss for the quarter was $420 million, compared to ... Read the full article
SiriusPoint shuts offices in property cat restructure, after Q3 loss
3rd November 2022
SiriusPoint has announced plans to close three offices from which it underwrites property catastrophe reinsurance and reduce its footprint in two more, as it looks to restructure its underwriting platform following a net loss of $98 million for the Q3 period. The company reported an underwriting loss of $47 million for ... Read the full article
Lancashire Holdings sees gross written premiums up by 34.3%
3rd November 2022
Lancashire Holdings has released its result for the first nine months of this year, saying that gross written premiums grew by over a third in this time to reach $1.3bn. A statement from the firm also said that it expected to see net losses from Hurricane Ian in the region of ... Read the full article
AXA XL Re nat cat reduction continues to offset revenue growth
3rd November 2022
Global insurer AXA has reported that its gross revenues increased by 2% to €78.4 billion over the first nine months of 2022, as strong growth across the company’s commercial and personal lines business was offset by a reduction in natural catastrophe exposure for AXA XL Reinsurance. Overall property and casualty (P&C) ... Read the full article
Hannover Re posts rise in net income despite large losses exceeding budget for 9M 2022
3rd November 2022
German reinsurer Hannover Re has reported group net income growth of 1.7% to €871 million for the first nine months of 2022, despite the firm's net large losses coming in above budget for the period at €1.484 billion. Alongside slight growth in net income, Hannover Re's 9M 2022 operating profit rose ... Read the full article
Step change in the pricing & structuring of reinsurance is required, says RenRe’s O’Donnell
2nd November 2022
It's important that property catastrophe is the most profitable line within the global property and casualty (P&C) market, but in order for this to happen, "there must be a step change in the pricing and structuring of reinsurance coverage", according to Kevin O'Donnell, President and Chief Executive Officer (CEO) of ... Read the full article
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