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.
Goosehead loss widens despite revenue growth
27th April 2022
Goosehead Insurance, an independent personal lines insurance agency, has reported a net loss of $5.4 million for the first quarter of 2022, including a loss from operations of $6.1 million. This compares with a net loss of $1.1 million for the same period in the previous year. Despite the larger loss figure, ... Read the full article
Chubb reports huge fall in reported net income
27th April 2022
Chubb has said its reported net income for Q1 2022 was $1.97bn, after falling from $2.3bn in the previous year. Other figures released by the insurer were that P&C combined ratio was 84.3% compared to 91.8% prior year, and the current accident year P&C combined ratio excluding catastrophe losses was 83.5% ... Read the full article
Markel’s CR strengthens in Q1 but investments dent result
27th April 2022
Markel Corporation has reported an improvement in its combined ratio to 89% for the first quarter of 2022, as earned premiums increased to almost $1.8 billion in the period. The re/insurer's combined ratio strengthened by five percentage points from the 94% reported in Q1 2021, driven by a lower current accident ... Read the full article
Brown & Brown reports revenue increases of 11%
26th April 2022
Brown & Brown is reporting revenues of $904.7m in its Q1 2022 financial results. The firm said that this included a $89.4m (11%) increase compared to Q1 2021. Income before income taxes was $265m, increasing 10.8% from the prior year with Income Before Income Taxes Margin remaining consistent with the prior ... Read the full article
W.R. Berkley posts record underwriting income
26th April 2022
Re/insurance holding company W. R. Berkley Corporation has posted record underwriting income of $274.4 million for the first quarter of the year. The company’s net income similarly more than doubled from $229.5 million to $590.6 million, while operating income moved from $201.8 million to $306.9 million. During Q1, net premiums written also ... Read the full article
Guy Carpenter’s revenue jumps 11% in the first-quarter of 2022
21st April 2022
Marsh McLennan's (MMC) reinsurance broking arm, Guy Carpenter, has reported an 11% rise in underlying revenue in the first-quarter of 2022 to $999 million, as its parent reports consolidated revenue of $5.5 billion for the period. Revenue growth at Guy Carpenter supported total Q1 2022 revenue of $3.5 billion within MMC's ... Read the full article
RLI improves underwriting and CR over Q1
21st April 2022
US property and casualty insurer RLI Corp has reported substantial improvements in its underwriting income and combined ratio for the first quarter of 2022, despite falling to a comprehensive loss for the period due to a negative portfolio performance. Underwriting income increased from $29.9 million in Q1 of 2021 to $59.5 ... Read the full article
Travelers reports rise in net income as combined ratio strengthens in Q1
19th April 2022
US primary insurer Travelers has reported an underwriting gain of $659 million for the first-quarter of 2022 and a combined ratio of 91.3%, as losses from catastrophes, net of reinsurance, fell by $675 million from the comparable prior year period. The carrier's underwriting result improved by $442 million, year-on-year, as catastrophe ... Read the full article
VIG reports solvency ratio of 250% in 2021 results
19th April 2022
Vienna Insurance Group (VIG) has reported a solvency ratio of 250% at the end of the 2021 financial year, highlighting the company’s strong capitalisation. As of December 31 2021, VIG had own funds of roughly EUR 10.3 billion, approx. 85% of which was in the highest quality category. VIG also achieved a ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article
Progressive reports elevated cat loss on thunderstorms, hail & tornadoes
14th April 2022
Property and auto-focused insurance group Progressive has suffered a relatively heavy catastrophe loss toll in March, as the impacts of US severe convective storms and tornadoes affected the company. The impact of the severe weather across the United States in March has driven Progressive to miss analysts loss ratio targets, with ... Read the full article
Athora posts robust results for 2021
14th April 2022
European life insurance and reinsurance group Athora Holding, Ltd, announced their financial results for the full year. In a press release, it states that throughout the year, the company saw continued progress against its strategic objectives. This includes securing an agreement to acquire Amissima Vita in Italy, a €7.2 billion life insurer, ... Read the full article
Catalina reports net income of $177mn for 2021, targets entry to Lloyd’s
14th April 2022
Legacy specialist Catalina Holdings (Bermuda) has reported consolidated net income of $177 million for the year ended December 31 2021, and net operating income of $86 million. The company also announced that its total shareholders’ equity came in at $1.4 billion, with total assets of $6.66bn and total liabilities of $5.23bn. In ... Read the full article
The Hanover publishes select historical financial information
29th March 2022
Property and casualty (P&C) insurance company The Hanover Insurance Group has published select historical quarterly and annual financial information reflecting the planned changes to the company's segment reporting. Beginning with first quarter 2022 reporting, the company will disaggregate the former Commercial Lines segment into Core Commercial and Specialty segments, including expenses, ... Read the full article
Ardonagh income jumps by a third in 2021
28th March 2022
Global insurance brokerage and service provider, The Ardonagh Group, has reported income growth of 32.5% over the course of 2021, underpinned by organic growth of 7.3%. The company recorded income of £945.8 million for the full-year period, representing an increase of £232.0 million on the £713.8 million generated in the previous ... Read the full article
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