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.
Investment income offsets underwriting loss for Greenlight Re in Q1
7th May 2019
Hedge fund style reinsurer Greenlight Re has reported investment income of $32.3 million for the first-quarter of 2019, which more than offset a quarterly underwriting loss as the firm announces Q1 net income of $5.9 million. Net income of $5.9 million compares with a net loss of $142.8 million for the ... Read the full article
Everest Re’s combined ratio strengthens to 88.7% in Q1 2019
7th May 2019
Bermuda-based reinsurer Everest Re Group, Ltd. saw its net income increase from $210.3 million to $348.9 million in the first-quarter of 2019, with growth occurring in both insurance and reinsurance. Overall, gross written premiums jumped 10% in Q1 2019 when compared with the prior year quarter, totalling $2.1 billion. Globally, reinsurance ... Read the full article
AIG improves general insurance underwriting performance in Q1
7th May 2019
Global insurer AIG saw its first-quarter 2019 net income decline to $654 million year-on-year, despite an improved performance in its general insurance unit driven by enhanced underwriting fundamentals, expense discipline, and reinsurance actions. Net income fell to $654 million from $938 million a year earlier, while AIG's return on common equity ... Read the full article
P&C, L&H reinsurance drive premium and earnings growth for Hannover Re in Q1
7th May 2019
Reinsurance giant Hannover Re has announced first-quarter 2019 profit of €293.7 million, underpinned by strong performance in its property and casualty (P&C) and life and health (L&H) reinsurance segments. Quarterly profit increased by roughly €20 million year-on-year, while gross premiums expanded by more than 16% to €6.4 billion. The reinsurer was able ... Read the full article
Berkshire Hathaway suffers Q1 underwriting losses again
4th May 2019
For the second consecutive year, Warren Buffett's reinsurance businesses at Berkshire Hathaway have suffered an underwriting loss for the first-quarter, but the overall performance of the re/insurance segment of the conglomerate rose thanks to investment returns. For Q1 2019, Berkshire Hathaway's re/insurance underwriting income was $389 million, down on the prior ... Read the full article
AXA XL’s Q1 revenue growth offset by 2% reinsurance drop
3rd May 2019
AXA XL has reported total revenue growth of 7% for the first quarter of 2019, driven by 16% growth for P&C insurance and 4% growth for specialty, but offset by a 2% decline for reinsurance. Total revenue rose to €6.1 billion, made up of €2.9 billion from P&C insurance, €1.4 billion ... Read the full article
Large losses hit Swiss Re’s P&C unit, L&H Re posts record net income
3rd May 2019
Global reinsurance giant Swiss Re has announced net income of $429 million for the first-quarter of 2019, driven by a solid performance in its Life & Health Reinsurance segment, somewhat offset by large losses. At $429 million, Swiss Re's Q1 2019 net income declined slightly year-on-year from $457 million. The firm's ... Read the full article
Early signs of greater market discipline: Lancashire CEO, Maloney
2nd May 2019
The insured catastrophe loss experience of the past two years has demonstrated that rates in many lines of business had fallen too low, but signs of greater market discipline are starting to show, according to the Chief Executive Officer (CEO) of Lancashire Holdings Limited, Alex Maloney. Following a prolonged soft reinsurance ... Read the full article
Watford reports $6mn underwriting loss in Q1
1st May 2019
Watford Holdings Ltd, the parent company of Bermudian reinsurer Watford Re, has reported an underwriting loss of $6.0 million for the first quarter of 2019. This compares with a loss of $1.3 million for the same period in 2018, with the decline in performance attributable to a 4.2% increase in Watford’s ... Read the full article
Operating revenues up but combined ratio weakens at Markel in Q1
1st May 2019
Markel Corporation saw its operating revenues increase by $900 million to $2.5 billion for the first-quarter of 2019, while net income also improved year-on-year, to $576 million. The insurer and reinsurer has announced its results for the first-quarter of 2019, which shows that alongside improved operating revenues and net income, Markel's ... Read the full article
Arch’s reinsurance income sinks 62% in Q1 as Jebi loss creep bites
1st May 2019
Bermuda-based re/insurance firm Arch Capital Group has reported a 61.9% drop in underwriting income for its reinsurance segment during the first quarter of 2019, partly driven by $16 million of loss creep from Typhoon Jebi. Underwriting income for Arch’s reinsurance operations totalled $20.9 million in Q1 2019, down from $54.8 million ... Read the full article
Chubb CEO praises “best markets in years”, posts $1bn Q1 net income
1st May 2019
Evan Greenberg, Chairman and Chief Executive Officer of Chubb, has described US commercial, London wholesale and certain other international markets as the “best we have seen in a number of years.” His remarks come as the global insurer today posted a $1 billion net income for the first quarter of 2019, ... Read the full article
Argo posts first quarter net income of $91.2m, a 240% increase from Q1 2018
30th April 2019
Specialty re/insurer Argo Group International Holdings has posted a net income for the first quarter of 2019 of $91.2 million, a 270% increase from Q1 2018, and a 109% jump from the previous quarter. Gross Written Premiums grew 7.1% to $760.8 million, compared to $710.5 million for the the same quarter ... Read the full article
Premiums, income up at RGA in Q1 2019
30th April 2019
Reinsurance Group of America (RGA) increased its net premiums to $2.7 billion in the first-quarter of 2019 when compared with the prior year quarter, as net income jumped to $169.5 million. The global life reinsurer saw its net premiums increase 6% in the quarter, with adverse net foreign currency effects of ... Read the full article
R&Q’s 2018 profits up 45% to £14.3m despite deferred legacy deals
29th April 2019
Randall & Quilter (R&Q), the Bermuda-based program underwriting management and legacy acquisitions specialist, has posted 2018 pre-tax profits for continuing operations of £14.3 million, a 45% increase from the previous year. Meanwhile, R&Q’s continuing operating profit rose from £14.3 million in 2017 to £18.5 million. This comes despite a number of legacy ... Read the full article