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.
Arch doubles reinsurance income in Q1, expands top-line
27th April 2023
Bermuda-based Arch Capital Group has reported significantly improved results for the first quarter of 2023, helped by its reinsurance segment, which saw underwriting income almost double as gross premiums written grew by 43.1%. Overall, Arch’s net income for Q1 was $705 million, compared with just $186 million for the same period ... Read the full article
Ping An reports 49% growth in Q1 profits
27th April 2023
Chinese insurer Ping An has reported a 48.9% increase in net profit over the first quarter of 2023, ending the period at RMB 38,352 million (USD 5,537 million), including operating profit of RMB 41,385 million. The company attributed the improved performance to “in-depth” reforms, synergies in its integrated finance strategy, and ... Read the full article
Blockchain-powered reinsurer Re backs $34 million in Q1 premiums
26th April 2023
Re, a blockchain-powered reinsurance company, has reported "significant" growth in Q1 2023, backing $34 million in premiums and insuring tens of thousands of small businesses across various industries since its launch in late 2022. The company foresees further growth and opportunities with a strong deal flow pipeline and additional capital influx, ... Read the full article
Chubb sees strong start to the year with record Q1 core operating income
26th April 2023
Chubb has reported that its Q1 2023 core operating income was a record $1.84 billion, up 11.8% from the previous year. Elsewhere in the firm's results, net income for Q1 stood at $1.89 billion, down slightly from $1.95 billion in 2022. P&C underwriting income was $1.21 billion with a combined ratio of ... Read the full article
Brown & Brown posts 23.4% rise in Q1’23 revenues
25th April 2023
US insurance brokerage firm Brown & Brown reported revenues of $1.12 billion for the first quarter of 2023, representing an increase of $211.3 million, or 23.4%, when compared to the same period in 2022. Organic revenue totalled $967.3 million for Q1, compared to $859.4 a year earlier. Commissions and fees increasing ... Read the full article
IVANS Index shows increase in average premium renewal rates in Q1’23
21st April 2023
IVANS, a division of Applied Systems, has reported an increase in the average premium renewal rate change across all major commercial lines of business year over year, in the first quarter of 2023. All lines experienced an increase except for General Liability which experienced a decrease in average premium renewal rates ... Read the full article
W.R. Berkley sees net investment income rise 28.8% to $223.4 million in Q1
21st April 2023
In its Q1 2023 results, re/insurance holding company W.R. Berkley Corporation reported that net investment income grew almost 29% as an increasingly greater portion of its fixed-maturity portfolio was (re)invested at higher interest rates. "We maintained the short duration and high quality of our fixed-maturity portfolio, given the inverted yield curve ... Read the full article
Guy Carpenter’s underlying revenue up 10% in Q1 as MMC gets off to a strong start
20th April 2023
Global re/insurance broker Marsh McLennan (MMC) has today reported consolidated revenue across its operations of $5.9 billion for the first quarter of 2023, a rise of 9% on an underlying basis, supported by growth at its reinsurance broking arm, Guy Carpenter. Group-wide, revenue increased from the $5.6 billion reported a year ... Read the full article
RLI reports higher underwriting income, grows top-line
20th April 2023
Specialty insurer RLI has reported underwriting income of $67.9 million on a combined ratio of 77.9% for the first quarter of 2023, as well as a 16% increase in gross premiums written. This compares with $59.5 million underwriting income also on a 77.9% combined ratio for the same period last year, ... Read the full article
Aspen grows GWP 10% as underwriting improves again in 2022
20th April 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, has reported a 10% rise in gross written premiums (GWP) and an improved underwriting income in its full year results despite an array of economic, environmental, and geopolitical challenges. Aspen's GWP in 2022 were $4,339 million, up from $3,938 million in the previous year. ... Read the full article
Reinsurance outlook to improve as investment volatility eases: Aon
20th April 2023
Reflecting on reinsurers’ performance over 2022, analysts at global professional services firm Aon note that investment losses “weighed heavily” on results, but they also assure that the sector outlook is set to improve as volatility eases. The broker took stock of the year in the latest edition of its Aon ... Read the full article
Assurant expects housing segment to record $50m in Q1 cat losses
20th April 2023
US specialty insurance group Assurant expects to record roughly $50 million pre-tax, or $39 million after-tax, of catastrophes losses in its global housing segment for first quarter 2023. Most of the losses from catastrophic events that needed to be reported were related to lender-placed products and resulted from severe weather and ... Read the full article
Travelers reports $975m net income in Q1 with net written premiums up 12%
19th April 2023
Primary insurance group The Travelers Companies, Inc. has reported net income of $975 million for the first quarter of 2023, which also included an elevated level of catastrophe losses of $535 million pre-tax and a one-time tax benefit of $211 million. The company’s net income went down 4% this Q1 2023 ... Read the full article
VIG posts higher FY22 premium volume, confirming preliminary results
19th April 2023
Vienna Insurance Group (VIG) reported total premium volume of €12.6 billion for FY22, up 14.1% from the year-ago figure of €11.0 billion, confirming the preliminary figures announced on March 15. The company noted that the amount includes the Aegon businesses in Hungary and Türkiye that were acquired and consolidated for the ... Read the full article
Aon’s ARA reports strong growth in P&C premiums in 2022 despite turbulent market
19th April 2023
The constituents of Aon’s Reinsurance Aggregate (ARA), who collectively underwrite more than 50% of the world’s life and non-life reinsurance premiums, reported strong growth in P&C premiums in 2022, driven by higher pricing and strong demand for risk transfer in a volatile operating environment. According to Aon Catastrophe Insight data, 2022 ... Read the full article
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