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.
Kin Insurance reports 117% rise in GWP in full-year results
17th February 2023
Homeowners insurtech Kin Insurance has reported gross written premium (GWP) of $227.5 million in its full-year results, representing a 117% increase in year-over-year growth from 2021’s $104.8 million. Gross profit for the full-year was $68.2 million, which represents 130% growth compared to $29.6 million from 2021. Adjusted loss ratio on the Kin ... Read the full article
QBE reports FY net profit of $770m, cites resilient underwriting performance
17th February 2023
Australian headquartered insurer QBE has reported a net profit of $770m in its full year 2022 results, a $20m increase from the previous year. Adjusted cash profit after tax increased to $847m from $805m in 2021, resulting in an adjusted cash return on equity of 10.5%. QBE states that despite heightened inflation, ... Read the full article
Allianz reports 5.7% operating profit growth for 2022
17th February 2023
Allianz has reported a 5.7% increase in operating profit for 2022, ending the year at €14.2 billion as improved performance in both its property and casualty (P&C) and life and health (L&H) segments boosted results. Operating profit for the P&C segment rose by a 8.4% to €6.2 billion over the year, ... Read the full article
Swiss Re reports dip in net income amid economic inflation & large nat cats
17th February 2023
Global reinsurance giant Swiss Re has today announced net income of $472 million for the full year 2022 compared with $1.4 billion a year earlier, as the impact of economic inflation on expected claims impacted its P&C businesses, and large natural catastrophe losses exceeded expectations at $2.7 billion. The group's full ... Read the full article
Palomar sees GWP increase by 64.8% to $882m in full year results
16th February 2023
California-headquartered specialty insurer Palomar Holdings has reported that 2022 full year gross written premiums increased by 64.8% to $881.9m compared to $535.2m in 2021. Palomar's net income for the full year was $52.2m compared to $45.8m in 2021, with an adjusted net income of $71.3m, in contrast to $52.4m in 2021. Net ... Read the full article
AIG’s General Insurance arm delivers strongest ever underwriting profit in 2022
16th February 2023
Global re/insurer AIG has achieved record underwriting profitability within its General Insurance (GI) division for the full year 2022 to $2 billion, which alongside net realized gains on Fortitude Re funds withheld embedded derivative, contributed to a rise in net income to $10.2 billion for the year. At the same time, ... Read the full article
B.P. Marsh reports NAV increase in latest update
14th February 2023
Venture capital provider B.P. Marsh has reported Net Asset Value (NAV) of £179.8 million for 31 July 2022, compared to £166.6 million at 31 January 2022. In a statement, B.P. Marsh singled out a number of its investment companies, saying that Kentro's performance remains strong across both Nexus Underwriting Limited, the ... Read the full article
Sompo Intl. reports positive Q3 underwriting result despite Hurricane Ian’s impact
14th February 2023
Sompo International has published its third-quarter of the 2022 financial year results reporting an underwriting income of $256m, a lower figure compared to the same period last year, which was $275m. The firm’s 3Q results felt the impact of Hurricane Ian, but was partially offset by top-line growth, Sompo noted. It ... Read the full article
Tokio Marine’s international business reports 43% growth in net premiums in Q3
14th February 2023
Tokio Marine’s international business has reported profit of JPY187.3 billion for the third quarter of the 2022 fiscal year, representing a slight increase in profit from last year’s JPY186.6 billion. While profit was strong across most of its international entities, in Asia & Oceania, the firm did report a decline ... Read the full article
MS Amlin falls to net loss as hurricane Ian and war in Ukraine dent underwriting
14th February 2023
The impact of investment losses, Hurricane Ian, and the ongoing war in Ukraine has seen MS Amlin post a net loss of £305 million for the period January to end of September 2022, as the firm's combined ratio weakened to 111.9%. In its financial year 2022 3Q results, which covers the ... Read the full article
Arch Capital reports net income of $850m in Q4 results
14th February 2023
Bermuda-based Arch Capital Group has reported net income available to its common shareholders of $849.5 million in Q4 of 2022, a 29.5% annualised net income return on average common equity, compared to $613.1 million for the same quarter of 2021. After-tax operating income available to Arch's common shareholders was $805.9 million, ... Read the full article
IAG sees GWP rise to $7.1bn in H123 results
13th February 2023
Australian insurer IAG has reported that Gross Written Premiums rose 7.5% to $7.1bn in H123 as strong rate rises countered higher inflation, perils expectation and reinsurance costs. Net profit after tax was also up on the corresponding half year at $468m (1H22 $173m) and included a post-tax Covid business interruption provision ... Read the full article
Lancashire grows reinsurance premiums by 50%, improves underwriting
10th February 2023
Bermuda-based re/insurer Lancashire Holdings has reported that its gross written premiums increased by 34.9% to $1,652 million over 2022, including premium growth of 50% for its reinsurance business. The company also recorded underwriting profit of $150.8 million for the year, compared with $96.0 million in 2021, on a combined ratio of ... Read the full article
MAPFRE RE sees premiums grow 15.1% in 2022 to €7.22bn
9th February 2023
MAPFRE RE has reported that premiums, which include the reinsurance and large risks business, grew 15.1% in 2022 to €7.22 billion, with attributable earnings of €143 million. The firm states that these numbers occurred despite the increase in medium-intensity catastrophic events and serious droughts in the Paraná river basin in Brazil ... Read the full article
Brookfield Reinsurance sees $492mn net income
9th February 2023
Brookfield Reinsurance has recorded a $492 million net income in its full-year results, compared to a net loss of $44 million from 2021. The firm also posted $388 million of Distributable Operating Earnings (DOE) for the year, a major increase compared to 2021’s $30 million. In a statement, the firm noted ... Read the full article
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