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.
Saudi Re sees dip in GWPs
22nd August 2022
Saudi Re saw a dip in gross written premiums (GWP) in H1 2022, compared to the same period in the year before. The reinsurer said that GWP over the period was SR 920m riyals. The same period in 2021 saw GWPs of SR 955m. According to the firm, the systemic volatility ... Read the full article
IGI reports strong rise in net underwriting in Q2 results
19th August 2022
International General Insurance Holdings Ltd. (IGI) has reported a net underwriting result of $40.4 million for the second quarter of 2022, a huge increase compared to $20.9 million from the prior year period. At the same time gross written premiums for the quarter were $176.4 million, representing a 6.2% growth compared ... Read the full article
Ardonagh Group’s income increases by 37% in H1 22
18th August 2022
The Ardonagh Group has reported a strong performance in income for the first half of 2022, as it increased by 37% (£162.2 million) to £595 million, compared to £433.2 million in the first half of 2021. The company noted that growth was achieved through a combination of acquisitions and organic growth ... Read the full article
IRB Brasil Re posts R$661m underwriting loss
16th August 2022
Brazilian reinsurance company IRB Brasil Re has reported an underwriting loss of R$661.0 million (US $129.1 million) for the second quarter of 2022 as drought losses hit its agriculture business. The announcement comes just ones day after reports suggested the company is looking to raise close to $300 million via ... Read the full article
Midwest Holdings reports strong performance in Q2 net income
16th August 2022
Midwest Holding Inc. has announced a GAAP net income of $9.3 million for the second quarter of 2022, against a loss of $5 million for the prior year period. Alongside the year-on-year improvement in net income, Midwest also reported a substantial rise in non-GAAP annuity direct written premium at $156 million, ... Read the full article
Probitas sees gross written premiums rise quicker than expected
16th August 2022
Probitas has said in its latest results that following a mid-year pre-emption of the 2022 Year of Account, gross written premiums for its Syndicate are expected to increase from an original plan of £202.5m to £223.5m. A further 22% increase to £271m is planned for the 2023 Year of Account. According ... Read the full article
Oxbridge Re sees falls of net income in H1 2022
16th August 2022
Oxbridge Re has said in its latest results that it saw a net loss in income of $310,000 in the first six months of the year. This compares with the same period last year in which the firm reported a net income of $476,000. It also said that net income in ... Read the full article
Hippo marks Q2 2022 with premium growth increase to $204mn
12th August 2022
Home insurer Hippo Holdings Inc. has seen its total amount of generated premium grow 29% year-over-year to $204.1 million for the second quarter of 2022, from $158.7 million from the same period last year. The insurer noted that the growth was driven primarily by growth across channels in existing states, expansion ... Read the full article
FGF premiums increase to $0.9mn despite $5.9mn net loss
12th August 2022
Reinsurance and investment management holding company FG Financial Group has reported an increase in its reinsurance premiums despite seeing a net loss in the second quarter of 2022. FGF’s net premiums earned increased from $0.9mn in Q2 2021, to $3.0mn in this year’s second quarter. The group’s net loss increased to ... Read the full article
IAG reports GWP rise of 5.7%, raises perils budget for next year
12th August 2022
The latest results from Australian firm IAG indicate that gross written premiums rose 5.7% between FY 2021 and FY 2022. However, the firm reported that its insurance margin of 7.4% was lower than its expectations. That was because, it wrote in the results, of higher natural perils costing $1,119m against its allowance ... Read the full article
Ryan Specialty posts organic revenue growth of 22% in Q2 results
12th August 2022
International specialty insurance firm Ryan Specialty Group has posted revenue of $491.3 million for the second quarter of 2022, representing growth of 26% over last year, including 22.3% of organic revenue growth. The firm explained that the high rate of organic revenue growth was driven by new client wins, expanded relationships ... Read the full article
GIC Re sees downturn in gross premium income
11th August 2022
GIC Re has stated that gross premium income in Q2 2022 was 23% lower than it was in Q2 2021. The firm said in a statement that its gross premium income was INR 11,100.74 crore in the first half of this year, compared to INR 14,426.55 in the same period in ... Read the full article
QBE profits drop on huge investment loss
11th August 2022
QBE announced statutory net profit after tax of $151 million for the first half of 2022, compared with $441 million in the same six-month period last year. The drop mainly owed to an H1 investment loss of $840 million, versus a return of $58 million last year, which QBE said had ... Read the full article
Zurich reports huge rise in operating profit
11th August 2022
Zurich is reporting that it saw a 25% rise in operating profit for H1 2022. The firm said in a statement about its latest results that its group business operating profit had risen to $3,393m, which it said was its highest in fourteen years. Likewise, it said its P&C business operating ... Read the full article
Talanx profits increase despite higher cat losses
10th August 2022
Germany’s Talanx Group, the parent of reinsurer Hannover Re, has reported improved income and operating earnings for the first half of 2022 despite a considerable increase in large losses from catastrophe events, as well as a double-digit rise in premiums. Group net income increased from €546 million for the six-month period ... Read the full article
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