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.
The Hanover announces cat losses of $90m for Q3
20th October 2022
Property and casualty insurance company The Hanover Insurance Group has announced a preliminary estimate for third quarter catastrophe losses of approximately $90m, before taxes, or 6.8 points of net earned premiums. In a statement, the firm said that the estimate is approximately $22m above the company's pre-tax third quarter catastrophe assumption, ... Read the full article
Guy Carpenter’s Q3 revenue up 7% as Marsh McLennan reports solid set of results
20th October 2022
Global brokerage Marsh McLennan (MMC) has reported a solid set of results for the third quarter of 2022, supported by underlying revenue growth of 7% at its reinsurance arm, Guy Carpenter. Across the business, MMC's consolidated revenue in Q3 2022 increased by 4%, or 8% on an underlying basis to $4.8 ... Read the full article
Allstate to recover 45% of $671m Hurricane Ian loss from reinsurers
20th October 2022
US primary insurer Allstate has announced that it expects to incur a net loss between $675 million and $725 million for the third quarter of 2022, largely due to the impacts of Hurricane Ian. Catastrophe losses for the third quarter, net of reinsurance, are estimated to be $763 million, pre-tax. Gross catastrophe ... Read the full article
Travelers reports solid Q3 with stronger combined ratio despite hurricane Ian
19th October 2022
Primary insurance group The Travelers Companies, Inc. has reported a 31% year-on-year dip in net income to $454 million for the third quarter of 2022, but despite experiencing a higher catastrophe load in the period, driven by hurricane Ian, the firm's underwriting return for the period increased by $40 million. Quarterly ... Read the full article
BP Marsh improves profits for H1, grows net asset value
18th October 2022
Venture capital provider BP Marsh has reported improvements in profits and net asset value for the six months to end of July this year, and maintains a positive outlook on the re/insurance market moving forward. The company reported consolidated profit before tax of £17.0 million for the interim period, compared to ... Read the full article
Swiss Re expects Q3 net loss amid hurricane Ian claims of $1.3bn
18th October 2022
Global reinsurance giant Swiss Re expects to report a net loss of $500 million for the third quarter of 2022 on the back of hurricane Ian related claims of a huge $1.3 billion, net of reinsurance and before tax. Swiss Re is the first large, global reinsurer to announce its preliminary ... Read the full article
KBW forecasts decline in specialty reinsurer loss ratios
17th October 2022
Analysts at KBW say they are expecting to see a broad decline in specialty reinsurers’ core loss ratios year-on-year, as they assess the market in the wake of Hurricane Ian and amid the challenging interest rate environment. Looking at the implications of these conditions for various business lines, KBW is forecasting ... Read the full article
Tryg reports positive results in Q3
13th October 2022
Scandinavian insurance company, Tryg has reported a premium growth of 6.4% in the third quarter of 2022, compared to 5.9% from the same period last year. The increase was primarily driven by positive developments in the company’s Private and Commercial segments. The company also reported a technical result of DKK 1,832m (DKK ... Read the full article
US title insurers post solid results for 2021 despite volatile landscape: AM Best
11th October 2022
A recent report from AM Best suggests that the US title insurance industry saw its net income jump 46% in 2021 to $2.3bn, however, macroeconomic pressures in 2022, specifically those affecting mortgage rates, have created a volatile landscape for title insurers. AM Best note that the title segment’s top-line premium growth, ... Read the full article
Swiss Re set for $399m Q3 loss in JP Morgan forecast
10th October 2022
Analysts at JP Morgan have forecast that Swiss Re will incur a net loss of $399 million for the third quarter of 2022, largely due to the impact of Hurricane Ian, as well as loss creep on other catastrophe events and investment market volatility. Based on a market-wide loss forecast of ... Read the full article
P&C underwriting loss driven by expenses in auto lines: AM Best
6th October 2022
The US property and casualty (P&C) industry recorded a $6.3 billion net underwriting loss in the first six months of 2022, down $11.4 billion from the prior year period, with the personal lines segment, specifically the auto lines, responsible for this decline, according to an AM Best report. The Best’s Special ... Read the full article
West of England P&I Club reports improved operating results
6th October 2022
For the first time in five years, the West of England P&I Club, an insurance provider to the global maritime and offshore industries, has reported that it has returned an underwriting surplus in its 20 August financial results, with a combined ratio of 97.9% at the mid-year point. West of England ... Read the full article
Aston Lark reports 75% growth in revenue in 2021 results
3rd October 2022
Aston Lark is reporting a 75% growth in revenue, growing to £160.1 million, and 82% growth in EBITDA in 2021, according to its latest results. The company’s organic growth in commission and fees of 11%, was mostly due to a positive result against a backdrop of the economic environment during the ... Read the full article
Helios Underwriting reports loss after tax of £3.9m in H1 2022 results
29th September 2022
Lloyd's focused investment vehicle, Helios Underwriting, has released its unaudited results for H1 2022, saying that it saw gross written premiums (GWP) rise by 133% to £124m over the period. Elsewhere, the firm reported a loss after tax of £3.9m, a much-worse result than in H1 2021 when it reported a ... Read the full article
D&O insurance results improve, though premium growth stalls: Fitch
20th September 2022
According to Fitch Ratings, the U.S. Directors & Officers (D&O) insurance results in the first half of 2022 have improved, though premium growth has stalled. The D&O insurance line has experienced some of the most pronounced pricing increases over the last three years among all commercial lines, with shifts in underwriting ... Read the full article
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