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.
WTW reports organic revenue growth of 5% for the fourth quarter
9th February 2023
Global brokerage firm WTW has reported 5% organic revenue growth for the fourth quarter of 2022 to $2.72 billion, although net income for the period fell by 75%, year-on-year, to $593 million. For the full year 2022, WTW achieved 4% organic revenue growth to $8.866 billion, as net income for the ... Read the full article
Zurich P&C operating profits up 14%, on combined ratio of 94.3%
9th February 2023
Zurich Insurance Group has posted a 12% increase in business operating profit for 2022, including a 14% increase in operating profits for its property and casualty (P&C) segment on a combined ratio of 94.3%. Overall operating profit came to $6.5 billion, compared with $5.7 billion for 2021, while P&C profits amounted ... Read the full article
Talanx posts 16% rise in full-year net income to €1.17bn
9th February 2023
Germany’s Talanx Group, the parent company of Hannover Re, has exceeded its full-year 2022 target for group net income with a rise of 16% to €1.17 billion. Gross written premium income also rose by a double-digit 17% to €53.4 billion. Meanwhile, the return on equity was 12.9%, well above the minimum target ... Read the full article
Everest Re’s net income rises as underwriting improves
9th February 2023
Bermuda-based reinsurer Everest Re Group has reported a 4.1 percentage point improvement in its combined ratio in the fourth quarter of 2022 to 87.8%, as net income and operating income increased to $496 million and $478 million, respectively. The company's Q4 net income rose from the $431 million a year earlier, ... Read the full article
Intact Financial posts net income of $2.4bn in full-year results
8th February 2023
Intact Financial Corporation a Toronto-based property and casualty (P&C) insurer, has reported a full-year net income of $2.4 billion, a 16% increase from $2.0 billion from 2021. In its Canada segment, operating direct written premiums (DWP) increased 17% for the full-year to $14 billion, from $12 billion from 2021. The firms UK&I ... Read the full article
Assurant’s net income decreases 45% in Q4
8th February 2023
US specialty insurer Assurant, Inc. has reported a GAAP net income of $68.1 million for the fourth quarter of 2022, a 45% decrease compared to the $124 million reported in the same period last year. The company noted that the decline was primarily due to a $41.8 million after-tax charge related ... Read the full article
Suncorp exceeds H1 natural hazards budget by $99m
8th February 2023
Australian insurer Suncorp has reported its results for the first half of the fiscal year for 2023, during which time it grew its net profits by 44.3% despite natural hazard losses exceeding the its H1 budget by some AUD 99 million. In addition to improved earnings, Suncorp saw continued strong top-line ... Read the full article
White Mountains reports GWP rise for Ark in Q4
7th February 2023
White Mountains has released its fourth-quarter results for 2022, reporting that its Ark partner firm produced strong underwriting results in both the quarter and the full year, while growing full-year gross written premiums 37%, according to CEO Manning Rountree. Ark saw gross written premiums (GWP) rise to $200m in Q4 2022 ... Read the full article
Cincinnati Financial posts net loss of $486 million in full-year results
7th February 2023
Cincinnati Financial Corporation has reported a full-year net loss of $486 million, compared with a net income of $2.946 billion in 2021. For Q4 alone, the firm posted a net income of $1.013 billion, compared with a net income of $1.470 billion for the same quarter of 2021. This came after recognising ... Read the full article
CNA Financial sees P&C core income rise to $1.2bn in full-year results
6th February 2023
CNA Financial Corporation has reported that full-year net income totalled $894 million, compared with $1.2 billion from 2021. Core income for the full year also totalled $1.0 billion, compared to last years $1.1 billion. The firms property & casualty (P&C) core income for the full year was $1.2 billion, compared to 2021’s ... Read the full article
Aon’s Reinsurance Solutions delivers 9% organic revenue growth in Q4 2022
3rd February 2023
Global broker Aon's Reinsurance Solutions arm achieved organic revenue growth of 9% in the fourth quarter of 2022, as revenue across the group increased by 2%, year-on-year, to $3.1 billion, reflecting organic revenue growth of 5%. Higher total revenue of $3.1 billion includes the 5% organic revenue growth and a 1% ... Read the full article
Selective recovers two-thirds of Elliott loss from reinsurers
3rd February 2023
Property and casualty insurance holding company Selective Insurance Group has reported that it recovered roughly two thirds of its $135 million gross loss from Winter Storm Elliott. Selective’s official Q4 results release largely confirmed the preliminary figures that the company reported last week, but they do offer some more insights ... Read the full article
The Hartford sees net income decrease to $1.8bn in full-year results
3rd February 2023
Property and casualty (P&C) insurer The Hartford has reported a net income of $584 million for the fourth quarter of 2022, a 19% decrease compared to $724 million from the same period last year. According to the firm, this was primarily due to a decrease in P&C underwriting results and a ... Read the full article
RGA sees net income rise to $623m in full-year results
3rd February 2023
Global life and health reinsurer, Reinsurance Group of America (RGA) has reported that full-year net income totalled $623 million compared with $617 million in 2021. Adjusted operating income for the full year totalled $977 million, compared with $77 million the year before. Net premiums for the full year totalled $13.1 billion, increasing ... Read the full article
IAG to make reinsurance recovery of at least $114m for Auckland flooding
3rd February 2023
Australian insurer IAG has said that a preliminary assessment of expected claims from the Auckland flooding suggests that the natural perils cost impact, after reinsurance, will be at the $236 million retention level of its catastrophe and whole-of-account quota share arrangements. IAG says that gross costs for the Auckland event are ... Read the full article
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