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.
Cincinnati Financial to incur $235m Q1 storm losses
17th April 2023
Property and casualty insurer Cincinnati Financial Corporation has announced that its consolidated first-quarter results are expected to include pre-tax catastrophe losses of approximately $235 million. This will represent an impact on its Q1 combined ratio of 12.8 percentage points, based on estimated earned premiums. For reference, the company's 5-year historical average contribution ... Read the full article
Swiss Re improves solvency test ratio by 71 points
14th April 2023
Global reinsurer Swiss Re has reported that its Group Swiss Solvency Test (SST) ratio for 2023 stands at 294%, which is well above its 200-250% target range, and represents an increase of 71 percentage points over its 2022 figure. Swiss Re outlined its capital position in detail in its Financial Condition ... Read the full article
The Hartford forecasts Q1 P&C catastrophe losses of $185m
14th April 2023
The Hartford has announced its preliminary earnings estimates for Q1 2023, including net income available to common stockholders of $530 million, and P&C current accident year (CAY) catastrophe losses of $185 million. Of the total CAY CAT losses, $138 million are estimated in Commercial Lines, while $47 million are in Personal ... Read the full article
Reinsurance sector delivers ‘record-high’ return in Q1’23: ACORD
14th April 2023
The reinsurance sector delivered a "record-high" performance overall with +23.6% total return on equity in Q1, ACORD noted in its first Global Insurance Stock Index Update of 2023. ACORD, the global standards-setting body for the insurance industry, highlighted that the performance was likely driven by strong premium and exposure growth, improved ... Read the full article
Miller posts over £200m in 2022 revenues
13th April 2023
Specialist re/insurance broker Miller said it posted over £200 million in revenues in 2022, led by strong organic growth and the acquisition of two "high quality" businesses. Miller said it saw organic growth in the mid-teens delivered in 2022, with strong performance across all classes. Acquisitions of Henner Sports in France (now ... Read the full article
Fidelis reports increased GWP & improved combined ratio in 2022
11th April 2023
In its 2022 full year results, Bermuda-based Fidelis Insurance Holdings Limited has reported that gross written premiums (GWP) increased to $3 billion compared to 2.78 billion in 2021, while the firm's combined ratio improved to 92.1% from 92.9%. Of the GWP total in 2022, $1.61 billion was made up of speciality ... Read the full article
US commercial P&C rates increase in Q1 at plus 5%: MarketScout
6th April 2023
New data released by MarketScout, a managing general agent, Lloyd’s coverholder and wholesale broker, shows that composite rate increases for commercial property and casualty rates increased in modest fashion during the first quarter of 2023 at plus 5%. According to the broker, the only coverages of notable change were general liability ... Read the full article
Helios syndicate forecasts impacted by losses
4th April 2023
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2020 and 2021 years of account, based on 4th quarter 2022 estimates. The 2020 result showed an improvement over the midpoint forecasts as at 30th September 2022, ... Read the full article
Athora Holdings posts 14% increase in profit in full-year results
31st March 2023
Athora Holding Ltd., a European savings and retirement services group, has reported its full-year results, announcing a €488 million IFRS profit before tax, which represents a 14% increase compared to 2021. At the same time, the firm also reported an Operating Capital Generation (OCG) of €442 million, representing a year-on-year increase ... Read the full article
Oxbridge Re reports $1.8mn net loss in full-year results
31st March 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a $1.8 million net loss for the full-year, compared to a $8.6 million net income from 2021. The company stated that the decline was primarily due to a decrease in unrealized gains within its investment ... Read the full article
CCR Re well placed to benefit from new market environment in 2023, says CEO
30th March 2023
Bertrand Labilloy, Chairman & CEO of CCR Re, has suggested the firm is well placed to benefit from the new market environment in 2023 as it managed to "deliver a clean sheet in a turmoiled market" in 2022. The French state-owned reinsurer reported a total premium income of €987m in ... Read the full article
Underwriting losses up as P&C income shrinks: Verisk & APCIA
30th March 2023
New data from Verisk and the American Property Casualty Insurance Association (APCIA) shows that key financial results for the US property and casualty (P&C) market significantly worsened in 2022, as its overall underwriting loss reached $26.9 billion. At this level, the underwriting loss was more than six times the $3.8 billion ... Read the full article
Canopius sees improved combined ratio and increased GWP in 2022
30th March 2023
Canopius Group, a global specialty re/insurer, has announced its 2022 financial results reporting that gross written premiums (GWP) increased to $2,338 million, up from $2,220 million in 2021, with growth seen in all geographies. Additionally, the Group’s combined ratio improved to 93.6%, down from 2021’s 96.7%. This was credited to its ... Read the full article
Peak Re takes net loss for 2022, but grows top line
29th March 2023
Hong Kong-based global reinsurer Peak Re has recorded a net loss of US $79.8 million for 2022, while also growing its gross written premiums from $2.14 billion to $2.29 billion. The results were disclosed as part of the annual report of Peak Re’s main shareholder, Fosun, which cited rising catastrophe losses ... Read the full article
CCR Re sees GWP rise 17% despite turbulent market
29th March 2023
CCR Re, the French state-owned reinsurer, has reported a total premium income of €987m in 2022, up 17% compared with 2021. The firm states that it continued to pursue the profitable growth trajectory defined by the board of directors, in a market "hit by a combination of major shocks." CCR Re’s net ... Read the full article
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