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.
QBE anticipates exhausting FY22 catastrophe allowance
21st November 2022
QBE Insurance Group Limited expects to incur full-year 2022 catastrophe losses of around AUD 1.06 billion, which is above its catastrophe allowance for the year of AUD 962 million. The Australian insurer has released a trading update for the third-quarter of 2022, which highlights that elevated catastrophe activity has continued through ... Read the full article
MS Amlin reports £131mn H1 loss as Hurricane Ian loss estimates sit at £157mn
18th November 2022
MS Amlin has reported a net loss of £131 million for the first half of the financial year, down from a profit of £33 million in the prior year period, as the carrier estimated its Hurricane Ian loss at £157 million. Net premiums written for H122 were £2.192 billion, a substantial ... Read the full article
Tokio Marine HCC sees net premiums written increase 36% in Q2 results
18th November 2022
Tokio Marine HCC has reported a 35.6% increase in net premiums written in its Q2 2022 financial year results to JPY 367.5 billion ($2.63bn). Net premiums earned saw an even larger increase year over year of 46.8%, totalling JPY 327.4 billion ($2.34bn) compared to JPY 223 billion ($1.6bn) in 2021. Tokio Marine ... Read the full article
Sompo Intl. underwriting profits up 57% on steady top-line growth
18th November 2022
Specialty property and casualty (P&C) re/insurance provider Sompo International has reported that its underwriting profits increased by 57% to $367 million for the first half of the 2022 fiscal year. As a result, its revised forecasts for the full-year are now up 43% to $610 million compared with 2021, including the ... Read the full article
Ivans reports premium rates remain up YoY despite monthly variability
17th November 2022
Ivans Index has reported that year-over-year average premium renewal rates remain up for the majority of commercial lines in Q3, while month-over-month rates experience variable changes. Q3 2022 showed premium renewal rate change for all major commercial lines of business increased year over year, aside from Workers’ Compensation, which remained negative. ... Read the full article
UNIQA reports rise in premiums in Q3 results
17th November 2022
Austria's UNIQA Insurance Group has reported that premiums written grew by 4.3% in Q3 of 2022 to €5,033.1 million, with increases recorded across all business lines. Premiums written in property and casualty insurance rose by 5.5% to €2,832.2 million in Q3, while in health insurance, premiums written in the reporting period ... Read the full article
Zurich sets new financial targets over next three years
16th November 2022
Financial giant Zurich has set new financial targets for itself, which it plans to achieve between 2023 and 2025. The firm said in a statement that it was looking to boost business operating profit after tax return on equity (BOPAT ROE) to more than 20%, see compound organic growth in earnings ... Read the full article
Heritage to raise rates & adjust portfolio amid rising reinsurance costs
15th November 2022
In Heritage's Q3 earnings call, Ernie Garateix, CEO, suggested that the firm is raising its rates and evaluating its portfolio as the cost of reinsurance increases alongside capacity constraints. Garateix commented, “Getting appropriate rates for our coverage offer is paramount. We continue to take rates in all our markets to keep ... Read the full article
Midwest Holding reports substantial improvement in Q3 net income
15th November 2022
Midwest Holding Inc. has posted a $7.4 million GAAP net income for the third quarter of 2022 against a $3.1 million loss from the third quarter of 2021. Net investment income in 2022's third quarter was $12.9 million compared with $6.2 million in the prior- year's third quarter. Alongside the year-on-year improvement in net income, Midwest also ... Read the full article
VIG sees significant premium growth of 13.6% to €9.5 billion in Q3
15th November 2022
The Vienna Insurance Group (VIG) has reported premium growth across all lines of business and segments in Q3, with a total increase of 13.6% to €9.5 billion. The group notes that this includes the first-time consolidation of the most recently acquired insurance companies in Hungary and Türkiye, with premiums of around ... Read the full article
Oxbridge Re posts $2.2mn net loss in Q3
15th November 2022
Oxbridge Re Holdings Ltd. has reported a net loss of $2.2 million for the third quarter of 2022 compared to a net income of $6.5 million from the third quarter of 2021. The company’s net loss year-to-date total currently sits at $2.5 million compared to a $7 million net income from ... Read the full article
IRB Brasil Re posts R$299mn net loss in Q3
14th November 2022
Brazilian reinsurance company IRB Brasil Re has reported a net loss of R$299 million for the third quarter of 2022, compared to a net loss of R$156 million from the prior year quarter. The company’s net loss for the year-to-date currently stands at R$591.6 million compared to R$311.8 million from the ... Read the full article
Talanx reports huge rise in gross premiums in latest results
14th November 2022
Talanx Group, the parent company of Hannover Re, has released its results for Q3 2022, reporting that gross premiums rose 18.5%, with group net income up 8.6%. The firm said that it was fully on track to meet its annual targets. It added that its growth in premiums and group net ... Read the full article
Ryan Specialty posts 17% organic revenue growth in Q3
11th November 2022
International specialty insurance firm, Ryan Specialty Group has reported $412 million revenue for the third quarter of 2022, representing 17% year-over-year growth compared to $352.8 million in the third quarter of 2021. Net income increased to $29.3 million compared to a net loss of $32.6 million in the prior-year period. The firm ... Read the full article
Hippo’s Q3 revenue up 36%, total generated premium hits $219mn
11th November 2022
Home insurer Hippo Holdings Inc. has announced total generated premium (TGP) growth of 36%, year-on-year, to $219 million in third quarter of 2022, pushing the firm’s revenue up 44% to $31 million. Alongside the rise in TGP and revenue for the quarter, Hippo reported a net loss of $129.2 million compared ... Read the full article
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