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.
VIG outperforms 2021 targets, but Ukraine means future uncertain
8th March 2022
Vienna Insurance Group (VIG) says it has outperformed all of its key figures for 2021, after reporting profit of €511.3 million, which increased 47.8% over the previous year to exceed its upper target range of €500 million. However, CEO Elisabeth Stadler warned that it remains “difficult to estimate” the company’s business ... Read the full article
FedNat loss grows, reinsurance costs blamed
4th March 2022
Florida based primary insurer FedNat has reported a net loss of $103.1 million for 2021, compared with a loss of $78.2 million in the previous year. The company says the larger loss in 2021 was primarily the result of higher reinsurance costs and the lack of any income tax benefits in ... Read the full article
IGI results strong overall, but reinsurance flounders
4th March 2022
International General Insurance Holdings Ltd. (IGI) has reported largely positive results for both the fourth quarter and full-year periods in 2021, with Chairman and CEO Wasef Jabsheh describing it as "another excellent year" for the company. But despite the strong performance, IGI's reinsurance segment faced difficulties due to high claims, including ... Read the full article
PartnerRe reports non-life underwriting profit of $507mn for 2021
3rd March 2022
Bermuda domiciled reinsurer PartnerRe reported a non-life underwriting profit of $507 million for 2021, which was reflected in its improved combined ratio of 90.5% compared to a combined ratio of 106.0% for the fourth quarter and full year of 2020. Large catastrophic losses totalled $66 million for the fourth quarter of ... Read the full article
BRP reports $58m loss despite revenue doubling
3rd March 2022
Independent insurance distribution firm, BRP Group, Inc., has reported a net loss of $58.1 million for 2021 despite increasing its revenue by 135% over the year. The result follows a loss of $29.9 million in 2020, and is mainly attributable to the company’s Q4 performance, which resulted in a $44.4 million ... Read the full article
Hiscox returns to profit in 2021, produces strongest underwriting result in five years
2nd March 2022
Insurer and reinsurer Hiscox has reported profit of $190.8 million for 2021 against a loss of $268.5 million in the prior year, as the company produced its strongest underwriting result in five years. Despite elevated catastrophe activity, Hiscox has reported an underwriting gain of $215.6 million for 2021, compared with a ... Read the full article
James River reports $173m loss for 2021
1st March 2022
Bermuda domiciled insurance holding company, James River Group Holdings, Ltd., has reported a total loss of $173 million for 2021, after taking a $66 million loss in the fourther quarter of the year. The fourth quarter result included $115.0 million of adverse reserve development in the company's Casualty Reinsurance segment, primarily ... Read the full article
SiriusPoint backed Arcadian Risk sees GWP hit $225m in first year of operations
1st March 2022
Class of 2020, Bermuda-based Managing General Agent (MGA), Arcadian Risk Capital Ltd, has reported gross written premium (GWP) of more than $225 million in its first full year of operations. The start-up, which is led by industry veteran John Boylan, launched in 2020 with Third Point Re (now SiriusPoint) as ... Read the full article
Berkshire Hathaway P&C reinsurance returns to profit in 2021
26th February 2022
The property and casualty reinsurance business of Warren Buffett-run holding company Berkshire Hathaway returned to profit in 2021, delivering positive income on the back of a 95.1% combined ratio, despite the impacts of $2.1 billion of major catastrophe losses. A year ago, Berkshire Hathaway's P&C reinsurance division, which includes Gen Re, ... Read the full article
Universal improves full-year income despite heavy Q4 loss
25th February 2022
Florida headquartered and expansive primary insurance company, Universal Insurance Holdings, has reported a 17.3% increase in net income for 2021, despite suffering a heavy loss in the fourth quarter. Income for the full year was $28.4 million, compared with $24.2 million in the previous year, while the Q4 loss amounted to ... Read the full article
Catastrophe’s dent SiriusPoint’s 2021 result as re-underwriting continues
25th February 2022
Bermuda-based carrier SiriusPoint has fallen to a net loss of $140 million in the fourth quarter of 2021 but reported income of $45 million for the full year, as catastrophe losses dented the company's underwriting performance. Across the business, SiriusPoint has announced core underwriting income of $34.7 million in Q4 and ... Read the full article
Swiss Re returns to profit in 2021 despite high nat cat & COVID-19 load
25th February 2022
The "remarkable performance" of Swiss Re's property and casualty (P&C) businesses in 2021 helped the reinsurer generate net income of $1.4 billion for the year against a loss of $878 million in 2020, despite a heavy burden from natural catastrophes and additional COVID-related losses. Alongside the turnaround in net income, Swiss ... Read the full article
Enstar Group reports net earnings in 2021 of $437m
24th February 2022
Enstar Group is reporting net earnings for 2021 of $437m. The company, in releasing its results, said that it had net investment income of $312m, with net unrealised gains of $178m. The latter is made up of $384m, offset by $206m of losses. In a statement, Enstar Group said the return on ... Read the full article
Lemonade’s loss ratio jumps in Q4
24th February 2022
Auto insurtech Lemonade has reported a gross loss ratio of 96% for the fourth quarter of 2021, up from 73% a year ago, and 77% in the third quarter of 2021. The company attributed the increase to an unfavorable prior period development due to a handful of older large losses for ... Read the full article
Liberty Mutual reports 10.1% increase in yearly revenues
24th February 2022
Liberty Mutual Holding Company has reported a 10.1% increase in its total revenues between FY 2020 and FY 2021. The firm, in posting its results, said that its revenues in 2021 were $48,200m, up from $43,796m the year before. However, revenues in Q4 2021 were only 3.6% higher than they had ... Read the full article
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