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.
Aviva incurs £50m hit from UK’s December freeze
25th January 2023
London-headquartered insurer Aviva has provided an update on its general insurance lines for the fourth quarter of the year, including £50 million of losses from severe weather last month. The company reported that its general insurance businesses in the UK, Ireland and Canada all continued to “trade positively” over the closing ... Read the full article
Conduit Re grows premiums 60% at 1/1, expects more rate momentum
25th January 2023
Bermuda-headquartered property and casualty reinsurance group Conduit Holdings, owner of Conduit Re, has reported continued expansion at the recent January renewals, adding 60% in premiums and now looking forward to more rate momentum through 2023. The reinsurer said this growth has been secured through a combination of new business and renewals, ... Read the full article
Travelers sees 39% decrease in net income for Q4
24th January 2023
Primary insurance group The Travelers Companies Inc. has reported a 39% year-on-year decrease in net income to $819 million for the fourth quarter of 2022, compared to $1.33 billion from the same period last year. Notably, net income for the full year also fell by 22% to $2.84 billion, compared to ... Read the full article
Selective reports 94.7% combined ratio despite Elliot losses
24th January 2023
Property and casualty insurance holding company Selective Insurance Group has announced its preliminary results for the fourth quarter of 2022, which include a combined ratio of 94.7% and double-digit premium growth. This was despite the company booking estimated pre-tax net catastrophe losses of $45.7 million, including $46.1 million of net losses from ... Read the full article
Brown & Brown sees big rise in revenues & income in Q4 results
24th January 2023
US broker firm Brown & Brown has reported revenues of $901.4 million for the fourth quarter of 2022, representing an increase of $162.9 million, or 22.1%, when compared to the same period last year. Notably, organic revenue totalled $764.7 million for Q4, up 7.8% from last year, but still remained lower ... Read the full article
Aon’s Reinsurance Aggregate reports net combined ratio of 98.2% for 2022
23rd January 2023
Aon’s Reinsurance Aggregate (ARA), which analyses the financial results of 22 companies that underwrite more than 50% of the world’s life/non-life reinsurance premiums, has reported a net combined ratio across the companies of 98.2%. The ARA notes that most reinsurers continued to report strong property and casualty (P&C) premium growth in ... Read the full article
Allstate falls to Q4 loss as Storm Elliott drives $779m cat bill
19th January 2023
US primary insurer Allstate has reported a preliminary net loss for the fourth quarter of 2022, as costs from Winter Storm Elliott contributed to an overall catastrophe loss of $779 million for the Q4 period, pre-tax. The company estimates its overall Q4 loss at between $285 million and $335 million, or ... Read the full article
Catastrophe losses nearing agg trigger for Travelers as CEO sees exceptional underlying results
17th January 2023
U.S primary insurer Travelers has pre-announced estimated catastrophe losses of USD 459 million pre-tax (USD 362m after-tax), net of reinsurance, for the fourth quarter of 2022, but still expects to report an underlying, pre-tax underwriting gain of USD 723 million (USD 571m after-tax) for the period. Catastrophe losses for Q4 2022 ... Read the full article
Intact Financial estimates Q4 cat losses at $143m
13th January 2023
Intact Financial Corporation, a Toronto-based property and casualty (P&C) insurer, has announced estimated catastrophe losses for Q4 2022 of approximately $143 million, pre-tax. Cat losses in the Canadian segment were: Personal Lines $13 million, Commercial Lines $64 million. In the UK and Ireland segment, cat losses were: Personal Lines $63 million, ... Read the full article
Direct Line cancels dividend as weather claims hit £140m
12th January 2023
UK primary insurer Direct Line has said it no longer expects to declare a final dividend for 2022, as total weather claims for the year are estimated at nearly twice its original expectations. The company says it currently expects to pay claims worth around £90 million due to freezing temperatures in ... Read the full article
American Overseas reports $0.4mn net loss in Q3 results
3rd January 2023
American Overseas Group Limited has reported a net loss of $0.4 million for the third quarter of 2022, compared to a $1.8 million net loss from the same period last year. At the same time, the company's operating loss for the Q3 was $0.4 million, compared to last years loss of ... Read the full article
Saudi insurance sector remains strong, posts 27% growth in Q3
30th December 2022
Insurance companies in Saudi Arabia continued topline growth momentum in 2022 with aggregate GWP's standing at SR39.28 billion ($10.45 billion), rising 26.8% year-on-year in Q3 2022, as reported by Trade Arabia. Citing KPMG, Trade Arabia states that most lines of business reported growth in Q3, with motor and medical segments topping ... Read the full article
Skuld reports positive nine month result amid amiable claims environment
19th December 2022
Marine insurance provider Skuld has reported a positive result of $13.4 million for the first nine months of the 2022/23 financial year, an improvement of $33.9 million compared with the same period last year. According to the firm, gross premium and calls ended at $350.5 million, an increase of $41.5 million ... Read the full article
Munich Re raises 2023 profit guidance to €4bn under IFRS 17
15th December 2022
German reinsurance giant Munich Re is aiming for a consolidated profit of roughly €4 billion for the 2023 financial year under the new IFRS 17 reporting standard, with profit of around €3.3 billion expected in the reinsurance field of business. At the same time, the reinsurer anticipates insurance revenues, which it ... Read the full article
US P&C industry falls to $24.3bn underwriting loss through 9M: AM Best
2nd December 2022
The US P&C industry recorded a $24.3 billion net underwriting loss in the first nine months of 2022, down $17.9 billion from the prior year period, according to data from AM Best. The rating agency noted that 8.4% growth in net earned premiums and a 22.3% decline in policyholder dividends during ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
