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.
Gallagher grows earnings through Q3
28th October 2022
Insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported net earnings of $256.3 million for the third quarter of 2022, compared with $238.6 million a year earlier. The firm’s overall revenues were down slightly from $2,105.6 million to $2,012.0 million, but were up by 15% for the combined brokerage ... Read the full article
Universal reports a $72m net loss in Q3
28th October 2022
Universal Insurance Holdings has reported a net loss of $72.3 million for the third quarter of 2022, down from a net income of $20.2 million in the prior year quarter. The company also reported an adjusted net loss of $69.4 million for the quarter, down from adjusted net income of $19.8 ... Read the full article
Swiss Re announces 9M 2022 net loss as P&C sees large nat cat claims
28th October 2022
Global reinsurance giant Swiss Re has reported a net loss of $285 million for the first nine months of 2022, driven by a loss in the third-quarter of $442 million on the back of lower investment results and large natural catastrophe claims. The net loss of $285 million and a return ... Read the full article
Donegal Group reports Q3 $10.4mn net loss
27th October 2022
US primary holding company Donegal Group has reported a net loss of $10.4 million in the third quarter of 2022, compared to a net loss of $6.7 million from the same period last year. Net premiums earned for the quarter increased by 5% to $206.1 million, compared to $196.2 million from ... Read the full article
WTW maintains FY targets as organic growth accelerates
27th October 2022
Re/insurance broker WTW has reported revenues of $1,953 million for the third quarter of 2022, down 1% from the same period last year but up by 6% on an organic revenue growth basis. This represents an acceleration from the organic revenue growth rate of 3% that the broker reported in ... Read the full article
QIC reports “healthy” 9M profits despite major headwinds
27th October 2022
Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has reported a net profit of QAR 571 million from continuing operations for the first nine months of 2022, and underwriting income of QAR 272 million. Khalifa Abdulla Turki Al Subaey, Chairman and Managing Director of QIC, noted ... Read the full article
Goosehead Insurance sees a 43% decrease in net income in Q3
27th October 2022
Goosehead Insurance, Inc. has reported a net income of $3 million for the third quarter of 2022, a 43% decrease compared to $5.3 million from the same period last year. The company noted that the decrease was due to higher non-cash stock compensation expense and lower income tax benefit. Moreover, the company’s ... Read the full article
Everest Re reports net operating loss of $205m in Q3
27th October 2022
Everest Re has reported its Q3 2022 results, saying that it suffered a net operating loss of $205m, with a net loss of $319m. The losses, said the firm in a statement, were driven by an active catastrophe quarter and volatile market conditions. However, it also said that it had seen ... Read the full article
AXIS falls to Q3 net loss, but underwriting improves as reinsurance shift continues
27th October 2022
Bermuda-based AXIS Capital Holdings Limited has reported a net loss of $17 million for the third quarter of 2022 on the back of previously announced catastrophe losses primarily driven by Hurricane Ian. The Q3 net loss compares with net income of $47 million a year earlier, as pre-tax catastrophe and weather-related ... Read the full article
Arch reports reinsurance underwriting loss of nearly $200m
27th October 2022
Bermuda-based carrier Arch Capital Group Ltd. has released its results for the third quarter of 2022, which include an underwriting loss of $196.9 million within its reinsurance segment, largely due to the impact of Hurricane Ian. Ian accounted for the bulk of Arch’s $550.8 million catastrophe bill for the quarter, Read the full article
Ping An releases Q3 results, cites 3.8% growth in operating profit
27th October 2022
Ping An has announced its Q3 2022 results, saying that it saw a growth in operating profit of 3.8% during the period. The firm said that global capital markets remained volatile in a complex, challenging international environment in the third quarter of 2022. Domestic economic growth faced three headwinds, namely declining ... Read the full article
Chubb sees net income plummet in Q3 2022
26th October 2022
Chubb is reporting that its net income in Q3 2022 was $812m, down from $1.83bn in Q3 2021. The firm is also reporting that net income between the two periods fell from $6.4bn to $4bn. It said that net income in the quarter was adversely impacted by realized losses of $502m ... Read the full article
Helios well placed ahead of ‘really hard’ market: Hanbury and Manners
25th October 2022
Despite a couple of headwinds, Helios increased its capacity portfolio to £233 million for the 2022 underwriting year, and management is confident about the prospects and future profitability of the firm ahead of further market hardening. In late September, Helios Underwriting, the Lloyd’s focused investment vehicle, reported a significant rise in ... Read the full article
We’re not shy to lean into property cat reinsurance: W. R. Berkley CEO
25th October 2022
Commercial lines property and casualty insurance holding company, W. R. Berkley, has been making plans and positioning itself to take advantage of rising prices in the property catastrophe arena, with the company's President and Chief Executive Officer (CEO), W. Robert Berkley, saying that it could become a meaningful part of ... Read the full article
Brown & Brown revenues up 20%, but organic growth slows
25th October 2022
US broker firm Brown & Brown has reported revenues of $927.6 million for the third quarter of 2022, representing an increase of $157.3 million, or 20.4%, when compared with the same period last year. Notably, organic revenue totalled $799.1 million for Q3, up 6.7% from last year, but slowing from the ... Read the full article
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