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.
Berkshire Hathaway reports underwriting loss for 2022 but reinsurance result improves
25th February 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported an underwriting profit of $244 million across its insurance and reinsurance operations for the fourth quarter of 2022, although for the full year 2022, insurance underwriting generated a loss of $90 million. The after-tax loss for the year compares with an ... Read the full article
Universal reports $25m net income in Q4
24th February 2023
Universal Insurance Holdings has reported a net income of $25.1 million for the fourth quarter of 2022, up from a net loss of $48.1 million in the prior year quarter. The company also reported an adjusted net income of $22.1 million, up from adjusted net loss of $47.8 million in the ... Read the full article
SiriusPoint reports FY net loss as it continues pull from cat exposed business
24th February 2023
Bermuda-headquartered re/insurer SiriusPoint has reported a full year net loss of $403 million, with a net loss in Q4 alone of $27 million. The firm's combined ratio for the year sat at 96.4%, down from 109.1% in 2021, while full year underwriting income was $83 million, compared to an underwriting loss ... Read the full article
Liberty Mutual sees dip in net income in Q4 results
23rd February 2023
Liberty Mutual Holding Company Inc., (LMHC) and its subsidiaries has reported net income attributable to LMHC of $612 million for the fourth quarter of 2022, a 15.2% decrease from $722 million from the prior year quarter. Net written premium (NWP) for the quarter was $11.524 billion, representing a 4.5% rise from $11.028 billion ... Read the full article
Lemonade posts 64% top line growth in Q4, as loss ratios improve
23rd February 2023
Lemonade has reported a 64% increase in in-force premium for the fourth quarter of 2022, alongside improvements in its loss ratios and a narrower net loss. Premiums totalled $625.1 million at the end of Q4, with Lemonade attributing the increase to a 27% increase in the number of customers as well ... Read the full article
AXA grows earnings by 4% despite move away from nat cat
23rd February 2023
Global insurer AXA has reported a 4% increase in underlying earnings for 2022, which finished the year at €7.3 billion and were boosted by growth in the company’s Property and Casualty (P&C) segment despite significant reductions in natural catastrophe exposure for AXA XL Reinsurance. The firm said earnings reflected higher investment ... Read the full article
Munich Re exceeds profit guidance in 2022 as premiums swell
23rd February 2023
German reinsurer Munich Re has exceeded its profit guidance for 2022 with a result of €3.4 billion, as the reinsurance division performed well despite the impacts of large losses and the war in Ukraine. Group-wide, profit increased from more than €2.9 billion in 2021 to just over €3.4 billion, beating the ... Read the full article
Steadfast sees big increase in underlying revenue in 1H23
22nd February 2023
Steadfast Group, the parent company to a range of broking and underwriting operations, including broker Steadfast Re, has reported an underlying revenue of AUS $662.8 million in 1H23, representing growth of more than 27%. The firm’s statutory net profit after tax for 1H23 was $84.7 million, compared with $104.9 million in ... Read the full article
Ageas grows net result by 20% on Asia & non-life business
22nd February 2023
Brussels-headquartered multinational insurer Ageas has posted a 20% increase in its net result for 2022, thanks to improved performance in its non-life Belgium business and its underlying results in Asia. Ageas posted a net result of €1,011 million for the full year, versus €844.8 million in the previous year. This followed a ... Read the full article
Conduit Re posts small underwriting gain as investment loss dents 2022 performance
22nd February 2023
Bermuda-based reinsurer Conduit Re has reported a comprehensive loss of $89.7 million for the year ended December 31st, 2022, as an investment loss of $52.8 million more than offset a slight underwriting gain in the period. The company's loss actually widened from the -$42 million reported a year earlier, while the ... Read the full article
Kuwait Re grows profits by 25% in 2022
20th February 2023
Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has reported net profit after tax of US $26.03 million for the year 2022, an increase of 25% as compared to $20.85 million in the previous year. The company’s underwriting results also improved by 20% during this time, ending the year at $25.28 million, versus ... Read the full article
Allianz Asia Pacific reports resilient FY results amid “turbulent global economy”
20th February 2023
Allianz Asia Pacific has reported that full year Property & Casualty operating profits were up 8% to €141 million, with total revenues up 17% to €1.7 billion. According to Aaron Fryer, Regional Chief Financial Officer, Allianz Asia Pacific, this was spearheaded particularly by strong growth in China, Malaysia, Singapore, and Thailand. Allianz ... Read the full article
American Equity sees net loss of $29.4m in Q4
17th February 2023
Life and annuity insurer American Equity (AEL) has reported Q4 2022 net loss available to common stockholders of $29.4m in Q4 2022, compared to a net income of $82.2m, for Q4 of 2021. AEL also announced it had ceded $352m of flow reinsurance to Brookfield Re and $4.3bn of GAAP reserves, ... Read the full article
Corebridge Financial reports $0.6bn net loss in Q4
17th February 2023
Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the US, has reported a net loss of $0.6bn in its Q4 2022 results, a 118% decrease compared to the prior year quarter. According to the company, the change was largely driven by $3.0bn of gains recorded ... Read the full article
Brit reports “robust” underwriting result in 2022 despite major loss events
17th February 2023
Specialty re/insurer Brit has published its full year results for 2022, reporting a “strong and robust” underwriting result with a profit of $95.4m with a combined ratio of 96.6%, compared to the $90.6m reported in 2021 with a combined ratio of 95.7%. This is the second consecutive year the insurer has ... Read the full article
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