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.
FG Financial Group sees net reinsurance premiums rise to $13m
27th March 2023
In its full year results, FG Financial Group has reported that net reinsurance premiums earned rose to $13 million, a substantial increase from $4.9 million in 2021. In Q4 alone, net reinsurance premiums earned jumped to $3.2 million, compared to $2.6 million in the same quarter of 2021. FG notes that its ... Read the full article
US P&C industry records $26.5bn underwriting loss for 2022: AM Best
23rd March 2023
The US property and casualty (P&C) industry recorded a net underwriting loss of $26.5 billion in 2022, according to data from AM Best, worsening by $21.5 billion from the previous year. The rating agency’s data was compiled from companies whose 2022 annual statutory statements were received as of March 9th, which ... Read the full article
Reinsurers’ combined ratios remained strong in 2022 but investment losses went up: Gallagher Re
23rd March 2023
Global reinsurers' combined ratios deteriorated marginally to 95.7% for FY2022, despite this it remains strong while investment losses went up weighing on the average full-year ROE, which dropped to 10%, a Gallagher Re report revealed. According to the the Global Reinsurers’ Financial Results for FY2022 report, the reinsurers tracked by Gallagher ... Read the full article
Ardonagh Group sees income swell 30% to $1.5bn in full year results
23rd March 2023
The Ardonagh Group has reported a 30% increase in income to $1.5 billion in its full year results, representing five-fold growth in the five years since its formation. Meanwhile, adjusted EBITDA rose 22% to $476 million from $390 million in 2021. The firm's full year 2022 Pro Forma income stood at $1.8 ... Read the full article
Lloyd’s reports £2.6bn underwriting profit but investment loss dents full year result
23rd March 2023
Lloyd's, the specialist insurance and reinsurance marketplace, has today announced an improved underwriting profit of £2.6 billion in its 2022 full year results, although a net investment loss of £3.1 billion resulted in an overall loss before tax of £800 million. After numerous years of performance improvement, the Lloyd's market's underwriting ... Read the full article
PartnerRe sees FY net loss of $1.1bn driven by unrealized losses on investments
22nd March 2023
Bermuda-based reinsurer PartnerRe has reported a net loss of $1.1 billion for the full year 2022, citing unrealized losses on fixed maturities and short-term investments of $1.8 billion as a key driver. This compares to a net income of $679 million for the same period in 2021. Meanwhile, operating income for the ... Read the full article
HDI Global grows top end, improves combined ratio
21st March 2023
Industrial insurer HDI Global SE has reported double-digit growth in gross written premiums and an improved combined ratio for 2022, underpinned by strong performances in liability and property lines, as well as new business growth in its specialty line portfolios. The company’s UK & Ireland branch contributed significantly to the positive ... Read the full article
SCOR Syndicate reports “strong” 2022 results with 90.1% combined ratio
21st March 2023
SCOR Syndicate has announced its 2022 results reporting a combined ratio of 90.1%, a strong underwriting profit of £22.6m and improved gross written premiums (GWP) that reached £306.2m. Overall, the carrier reported improved results, which according to the announcement, reflect SCOR’s strategy of diversification, sustainable growth and focus on high-quality execution. The ... Read the full article
PIC reports strong year in FY22 results
20th March 2023
Pension Insurance Corporation Group Limited, the ultimate parent company of Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has released its full-year results for 2022. The company reported a total adjusted operating profit of £388 million for FY22, compared to £533 million from 2021. At the ... Read the full article
IVANS Index shows yoy increases in average premium renewal rates
17th March 2023
Data from the latest IVANS Index shows that year over year all lines of business experienced an increase in average premium renewal rate over February. According to the report, Business Owners Policy (BOP) and Commercial Property remain the highest premium renewal rate increases year over year. Additionally, month over month, BOP, General ... Read the full article
VIG Re reports “all-time highs” performance for 2022 with €30.7m profit
16th March 2023
VIG Re has published its preliminary financial results for 2022 reporting an “all-time highs” performance with a pre-tax profit of €30.7m, a 19.7% gross written premium (GWP) increase, to €792.3m, and an improved net combined ratio of 91.9%. The reinsurance company of Vienna Insurance Group noted that an “above average growth” ... Read the full article
Maiden Holdings reports sharp rise in net income, despite $35.5mn underwriting loss
16th March 2023
Maiden Holdings Ltd., has reported a net income of $36.2 million for the fourth quarter of 2022 compared to net income of $16.2 million from the fourth quarter of 2021. The firm’s reported net income for Q4 is also a huge improvement from its $8.2 million net loss from Q322. At ... Read the full article
Porch revises financial statements after reinsurance error
15th March 2023
Software company Porch Group has had to revise its previously issued financial statements for the first three quarters of 2022, after identifying an “error” in the accounting of its reinsurance arrangements. As a result of this error, the company determined that the cost of revenue was understated by $4.0 million for ... Read the full article
VIG expecting higher premium volume in FY22 results
15th March 2023
Vienna Insurance Group (VIG) has announced its preliminary results for FY22, which includes a total premium volume of €12.6 billion, exceeding the value of the previous year by €1.6 billion, or 14.1%. VIG noted that the figure includes the newly acquired insurance companies in Hungary and Türkiye, which bring a premium ... Read the full article
Inigo reports $28.7m pre-tax profit for 2022
15th March 2023
Specialty re/insurer Inigo has published a pre-tax profit of $28.7m for 2022 alongside a combined ratio of 94.4%. In its second full year of operation, the start-up led by Richard Watson, also reported growing Gross Written Premiums (GWP), which increased 95% to $801.5m. According to the announcement, Inigo’s net assets grew from ... Read the full article
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