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.
Cat losses hit Chubb in Q3 but operating profit up year-on-year
24th October 2018
Global insurer Chubb has reported pre-tax catastrophe losses of $450 million ($372 million after-tax) for the third-quarter of 2018, and a core operating profit of $1.1 billion, compared with a $60 million loss a year earlier. Chubb announced previously that it expected Q3 2018 catastrophe losses to amount to $450 ... Read the full article
$25m Q3 catastrophe losses expected by Argo Group
19th October 2018
International underwriter of specialty re/insurance products Argo Group International Holdings has announced a preliminary pre-tax catastrophe loss estimate for Q3 2018 of approximately $25 million. Hurricane Florence, typhoon Jebi and other cat and weather-related events in Q3 are all included in the estimate. Also included are claims costs net of ceded reinsurance ... Read the full article
Munich Re’s Q3 catastrophe losses said to be within budget
19th October 2018
German reinsurance giant Munich Re was hit by large natural catastrophe losses during the third quarter of 2018, although claims are likely to remain within the company’s budget, according to sources at Reuters. The company also saw some losses related to claims from the Genoa bridge collapse in Italy, although these ... Read the full article
Everest Re anticipating $240m Q3 catastrophe losses
19th October 2018
Global reinsurer Everest Re Group has announced preliminary Q3 pre-tax catastrophe losses of an approximately $240 million, net of reinsurance. The estimate includes Q3 losses from hurricane Florence, California wildfires, typhoon Jebi, typhoon Trami and Japan floods. “Our thoughts are with those affected by these devastating catastrophe ... Read the full article
Allstate estimates $177m pre-tax cat loss for September
18th October 2018
Allstate Corporation, one of the largest primary insurers in the U.S, has announced estimated pre-tax - and likely post-reinsurance, although this is unable to be confirmed - catastrophe losses for September 2018 of $177 million ($140 million after-tax). This follows the $186 million pre-tax loss estimate Allstate posted for the ... Read the full article
Travelers’ Q3 results boosted by significantly lower cat losses
18th October 2018
American insurer Travelers’ Q3 results have been boosted by a less volatile catastrophe year relative to 2017, posting an increased net income of $709 million and improved 96.6% consolidated combined ratio (CR). Cat losses of $264 million after reinsurance and pre-tax decreased significantly from $700 million in the prior year quarter. Net ... Read the full article
Blue Capital posts $10.2mn third quarter nat cat losses
17th October 2018
Blue Capital Reinsurance Holdings Ltd. has revealed that its third quarter 2018 results will be impacted by approximately $10.2 million of natural catastrophe losses, the majority of which are due to loss creep from Hurricane Irma. The loss estimate, which is net of reinsurance and reinstatement premiums, includes a $6.1 million ... Read the full article
Modest cat activity likely to dampen Q3 results: Analysts
17th October 2018
Analysts at JMP Securities believe Q3 earnings will be highlighted by a modestly high level of catastrophe losses and a slightly positive mark-to-market impact. While these are the items that will likely be featured in earnings, JMP thinks much of investors’ focus will be on the sustainability of recent modest pricing ... Read the full article
Progressive anticipating $120mn hit from Hurricane Michael
16th October 2018
Insurance group The Progressive Corporation has said that it currently expects to incur losses of approximately $120 million from Hurricane Michael, which hit Florida last week as a Category 4 hurricane. This estimate consists of $60 million in losses for Progressive’s vehicle business and $60 million for its property business, ... Read the full article
Smaller Q3 catastrophes will add up to “sizeable” losses: KBW
16th October 2018
Catastrophe losses for property and casualty (P&C) re/insurers over the third quarter of 2018 will drop dramatically year-on-year, but the large number of smaller events over this period will still produce sizeable losses, according to analysts at Keefe, Bruyette & Woods (KBW). KBW estimates that global insured catastrophe losses for Q3 ... Read the full article
P&C net income more than doubles to $34bn: ISO
16th October 2018
U.S property and casualty insurers have seen their post-tax net income more than double to $34 billion in first half 2018, thanks in part to lower catastrophe losses, growing premiums, and an increase in investment income, according to a report from ISO, a Verisk Analytics business. Meanwhile, losses and loss adjustment ... Read the full article
Chubb’s third quarter nat cat losses total $450mn
10th October 2018
Global insurance and reinsurance firm Chubb has revealed its preliminary estimates for net losses attributable to natural catastrophes in the third quarter of 2018, which totalled $450 million pre-tax, or $372 million after tax. Chubb said that the losses are attributable to more than 20 separate global weather events, including Hurricane ... Read the full article
“The time is right to be precisely our size,” says Argo CEO Watson
28th September 2018
Mark E. Watson III, Chief Executive Officer (CEO) of Argo Group International Holdings, Ltd. has claimed that current market conditions and the pace of technological change in the re/insurance industry are conducive to mid-sized companies such as Argo. In a Letter to Shareholders, Watson said that he believed the industry was ... Read the full article
Lloyd’s performance stabilises but further improvements needed: Peel Hunt
27th September 2018
The underlying underwriting performance at Lloyd’s stabilised over the first half of 2018 as rate increases fed through and the marketplace clamped down on underperforming syndicates, according to analysts at Peel Hunt. However, Peel Hunt stated that more needs to be done to place the Lloyd's market on a firmer footing ... Read the full article
Lloyd’s performance improves & premiums grow, but investments dent results
21st September 2018
Lloyd’s of London’s interim report has revealed an uptick in gross written premiums, pre-tax profits of £0.6 billion and improved performance, while investment returns have declined considerably to £0.2 billion against £1.0 billion in June 2017. Gross written premiums increased 2.4% to £19.3 billion H1 2018, compared to £18.9 billion in ... Read the full article