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.
Suncorp’s FY22 profit falls as nat cats exceed budget by AUD 101m
8th August 2022
Australian primary insurer Suncorp has reported a 34% decline in net profit to AUD 681 million for fiscal year 2022, as natural hazard costs exceeded budget in the period by AUD 101 million, leading to significant reinsurance recoveries. For the fiscal year ended June 30th, 2022, Suncorp has reported total natural ... Read the full article
R&Q reports 82% increase in gross written premiums
8th August 2022
R&Q is reporting an 82% increase in gross written premiums for the first six months of this year. The firm said in a statement that these had increased from $445m in H1 2021 to $807m in H1 2022. Program Fee Income in this period rose by 105%, said the firm, from ... Read the full article
Berkshire Hathaway reports strong Q2 2022 P&C reinsurance result
6th August 2022
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, had another very successful quarter in its P&C reinsurance business in Q2 2022, with the unit driving an improvement in underwriting result across its insurance enterprise. Overall, Berkshire Hathaway delivered a $581 million insurance and reinsurance underwriting result in the second-quarter of ... Read the full article
Tokio Marine’s international businesses produce 22% rise in profit in Q1
5th August 2022
Tokio Marine's international businesses produced a profit of JPY66.9 billion for the first quarter of the 2022 fiscal year, representing year-on-year growth of 15%, driven by a 22% rise in profit to JPY68.9 billion within non-life operations. While profit was strong across most of its international entities, in Europe, the firm ... Read the full article
Russia and Ukraine related losses make dent in MS Amlin Q1 results
5th August 2022
MS Amlin, a specialist re/insurer, has reported its fiscal year 2022 first quarter results, which saw a higher net loss driven by the impact of losses related to Russia and Ukraine, and a negative investment performance. For this year’s Q1, MS Amlin reported a net loss of £93 million, compared to ... Read the full article
Sompo Intl. reports improved underwriting result despite Q1 net loss
5th August 2022
Sompo International's net result for the first-quarter of the 2022 fiscal year has fallen by $274 million, leading to a net loss of $239 million for the period. However, the firm's underwriting income improved by an impressive 89% to $159 million. During Q1 2022, Sompo's other income slipped by a huge ... Read the full article
RGA saw premiums grow 4.3% in Q2 2022 despite net income fall
5th August 2022
Global provider of life reinsurance, Reinsurance Group of America (RGA) reported a growth in premiums of 4.3% over last year’s second quarter despite a fall in its net income. Additionally, COVID-19 claim costs came down considerably in Q2 2022. RGA reported that the global estimated impact of COVID-19 would be approximately ... Read the full article
Heritage posts Q2 net loss on $91m goodwill impairment charge
5th August 2022
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, has seen its net loss widen in the second-quarter of 2022, driven by a net $90.8 million non-cash goodwill impairment charge. For Q2 2022, Heritage has posted a net loss of $87.9 million compared with a net loss of $4 million ... Read the full article
TransRe reports decrease in net premiums in Q2 results
5th August 2022
Investment holding company Alleghany Corporation has seen net premiums written for its reinsurance business TransRe decrease 9.1% in the second quarter of 2022. At the same time net premiums written for H122 decreased 5.9% compared to the same period last year, primarily related to decreases in property lines of business. Trans Re’s ... Read the full article
Allianz sees improved P&C performance in H1 2022 as operating profit rises
5th August 2022
A strong performance within its property and casualty (P&C) business so far in 2022 has helped Allianz report a rise in operating profit for the first half of the year of 1.2% to €6.7 billion, while net income for the period dipped as a result of a provision booked in ... Read the full article
Selective reports “higher than expected” cat losses as Q2 net income falls
4th August 2022
Selective Insurance has reported a second quarter net income of $37.2 million, a significant fall compared to the $119.6 million reported in the same period last year. Despite this, net premiums written (NPW) increased 12%, to $930.7 million compared to $833.2 million in the second quarter of 2021, mainly led by ... Read the full article
Liberty Mutual cites investment market volatility & loss cost inflation amid Q2 loss
4th August 2022
Re/insurer Liberty Mutual Holding Company has fallen to a net loss of $343 million for the second-quarter of 2022 on the back of investment market volatility and elevated catastrophe losses. The Q2 2022 net loss compares with income of $769 million a year earlier, although the company's H1 2022 result was ... Read the full article
Allstate reports $1bn net loss in Q2 results
4th August 2022
Allstate has announced a second quarter net loss applicable to common shareholders of $1.04 billion, compared to an income of $1.60 billion in the prior year quarter. The company noted that the loss was primarily due to lower underlying underwriting income, higher catastrophe losses, equity valuation declines and losses on fixed ... Read the full article
SiriusPoint sees $142mn net investment loss in Q2
4th August 2022
SiriusPoint Ltd. has reported a net investment loss of $142 million in the second quarter of 2022, taking the company’s total net investment loss for 1H22 to $347 million. At the same time, the company reported a core income of $20 million for the quarter, which included an underwriting income of ... Read the full article
Palomar reports significant premium growth in Q2 results
4th August 2022
Specialty property insurer Palomar Holdings has reported gross written premium (GWP) of $218.7 million for the second quarter of 2022, a huge increase of 69% compared to $129.4 million from the prior year quarter. The company also reported a net income of $14.6 million for the quarter, increasing from $12.3 million ... Read the full article
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