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.
Talanx reports rise in net income despite record losses from natural disasters
15th March 2023
Talanx Group, the parent company of Hannover Re, has reported a rise in group net income to €1.17bn for the full year 2022 despite total large losses from natural disasters of €1.5bn, the highest volume in the history of the firm. Talanx states that its primary insurance operation (encompassing the Industrial ... Read the full article
Generali achieves record operating result, P&C growth
14th March 2023
Italy-headquartered insurer Generali has reported a record operating result of €6.5 billion for 2022, helped by a significant improvement in its Life segment results, as well as premium growth in Property and Casualty (P&C). The overall operating result was up 11.2% over the previous year, although the increase in the net ... Read the full article
US commercial prices up 4.8% through Q4: WTW
13th March 2023
US commercial insurance prices rose again in the fourth quarter of 2022, according to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 4.8%. The survey compared prices charged on policies underwritten during the fourth quarter of 2022 with those charged for the same coverage ... Read the full article
P&C reinsurers grow net premiums by 8.6% over 2022: RAA
13th March 2023
New data released by The Reinsurance Association of America (RAA) shows an 8.6% increase in net premiums written by US property and casualty (P&C) reinsurers over 2022. The data, collected by RAA from 17 reinsurers globally, also shows that the combined ratio for the group remained unchanged from the previous year ... Read the full article
Fortegra specialty business drives revenue growth at Tiptree
10th March 2023
Holding company Tiptree has reported a substantial increase in revenues for 2022, with growth driven to a large degree by the company’s global specialty insurance subsidiary, Fortegra. Revenues increased by 16.4% to $1.4 billion thanks to growth in the insurance business, as well as increases in charter rates and a maritime ... Read the full article
HCI Group reports Q4 2022 net income of $2.7m
10th March 2023
Florida-based HCI Group has reported a net income of $2.7 million in the fourth quarter of 2022, compared with a net income of $1.4 million, from the fourth quarter of 2021. At the same time, the company’s net loss for the year so far currently stands at $54.6 million compared to ... Read the full article
IRB Brasil RE reports R$630.3mn net loss in full-year results
9th March 2023
Brazilian reinsurance company IRB Brasil RE has recorded a net loss of R$630.3 million in its full-year results, compared to a net loss of R$682.7 million from 2021. At the same time, for Q4 22, the firm came close to reaching the break-even point, with a net loss of R$38.8 million, ... Read the full article
Aviva sees 8% rise in GWP in 2022 results
9th March 2023
Aviva has reported General Insurance gross written premiums (GWP) are up 8% to £9,749 million in its full-year financial results for 2022, compared to the prior year’s £8,807 million. The firm notes UK & Ireland GWP are up 7% to £5,740 million, compared to 2021’s £5,352 million, with Canada GWP up ... Read the full article
Greenlight Re ups net underwriting income in Q4 results
9th March 2023
Specialist property & casualty (P&C) insurer, Greenlight Re, has reported net income of $34.8 million for the fourth quarter of 2022, a substantial rise from $24.3 million from the fourth quarter of 2021. Gross premiums written in Q4 were $127.4 million, compared to $125.1 million Q4 21. Greenlight Re states that ... Read the full article
Hannover Re achieves higher net income but major losses dent P&C underwriting result
9th March 2023
Hannover Re, one of Europe's big four reinsurers, has announced a rise in net income for the full year 2022, although the firm's property and casualty (P&C) combined ratio deteriorated to 99.8% as large loss expenditure exceeded expectations for the sixth consecutive year. Group-wide, net income rose 14.2% year-on-year to the ... Read the full article
Lloyd’s to report improved underwriting result but investments drive full year loss
8th March 2023
Lloyd's, the specialist insurance and reinsurance marketplace, is poised to report a better than expected combined ratio of 91.9% for full year 2022, although an investment loss of £3 billion is expected to result in a full year loss before tax. The world's oldest re/insurance marketplace is scheduled to release its ... Read the full article
L&G sees operating profit rise 12% to £2.5bn amid strong year for PRT business
8th March 2023
Legal & General has reported strong results for 2022, seeing operating profit rise 12% to £2.5bn, with an estimated Solvency II coverage ratio of 236%. Earning per share (EPS) also increased 12% from the previous year to 38.33p, while return on equity stood at 20.7%. L&G estimates that as of March 3rd, ... Read the full article
Hiscox reports best underwriting result since 2015
8th March 2023
Insurer and reinsurer Hiscox has today announced underwriting profit of $269.5 million for 2022, its highest since 2015, despite the impacts of elevated large natural catastrophes and man-made losses. Year-on-year, the underwriting result across the group improved by around $54 million, as the combined ratio strengthened from 93.2% in 2021 to ... Read the full article
Guidewire shrinks loss for fiscal Q2, grows revenues
7th March 2023
Guidewire Software, a platform provider for property and casualty re/insurers, has reported a net loss of $9.2 million for the second quarter of fiscal year 2023, compared with $40.7 million for the same period in the previous fiscal year. Similarly, the company’s loss from operations shrank from $39.5 million previously to ... Read the full article
IGI profits improve on premium growth and investments
3rd March 2023
IGI has reported profit of $85.5 million for 2022, nearly doubling its return from the previous year thanks to higher net premiums earned and investment income, together with a lower level of net claims and strong underwriting results. Core operating income was $94.4 million for the year, compared to $53.1 million ... Read the full article
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