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.
Helios operating loss grows despite reinsurance recoveries
1st October 2021
Helios Underwriting has reported an operating loss of £480,000 for the first six months of 2021, despite its exposure on the open underwriting year being reduced by 46% thanks to its quota share reinsurance program. This compares with an operating loss of £108,000 for the H1 period last year, although Helios ... Read the full article
Africa Re “optimistic” after improved H1 performance
27th September 2021
Africa Re CEO Corneille Karekezi has said he is “cautiously optimistic” about the company’s prospects for 2021, following an H1 period that yielded improved underwriting and investment performance, as well as higher profits. Africa Re recorded a gross premium income of US $421 million in the first six months of 2021 ... Read the full article
PIC grows H1 profit amid “very busy” pension risk transfer market
14th September 2021
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has reported improved profitability over the first six months of 2021, amid what CEO Tracy Blackwell describes as a “very busy” pension risk transfer market. The company posted adjusted operating profit of £221 million in H1, compared with £187 ... Read the full article
Lloyd’s returns to profit as underwriting performance improves
9th September 2021
The specialist Lloyd's insurance and reinsurance market has reported profit of £1.4 billion for the first-half of 2021, as the marketplace returned to underwriting profitability with an improved combined ratio of 92.2%. The overall result at Lloyd's has improved significantly from the net loss of £400 million reported for the same ... Read the full article
Aspen’s H1 net income improves to $87mn off underwriting, investments
7th September 2021
Bermuda domiciled re/insurer Aspen has reported a net income for 2021's opening six months of $87.4 million, rising from a $172.8 million prior period loss thanks in-part to superior underwriting performance. Underwriting profit for H120 stands at $33.3 million, compared to a loss of $109 million in 2020. Investment income has been recorded ... Read the full article
R&Q’s H1 premiums rise as legacy insurance sidecar Gibson Re launches
6th September 2021
Randall & Quilter Investment Holdings Ltd. (R&Q) has announced a pre-tax operating loss of $23.5 million for the first half 2021 against a gain of $12.8 million a year earlier. The firm has also launched Gibson Re, a legacy insurance sidecar vehicle. According to R&Q, the H1 2021 operating loss is ... Read the full article
Groupama reports a net income of €297mn
3rd September 2021
French insurer Groupama has reported an improved net income of €297 million, compared to €139 million for the second quarter of 2020. The group’s economic operating income was €264 million, including its life and health insurance, economic operating income was €168 million at 30 June 2021 compared with €114 million for ... Read the full article
Ryan Specialty Group reports Q2 net income of $63.4 million
2nd September 2021
Ryan Specialty Group has reported its net income for the second quarter of 2021 increased by 27.1% to $63.4 million, compared to $49.9 million in the prior-year period. Total operating expenses for the second quarter of 2021 were $297.8 million, a 57.8% increase compared to the prior-year period. This was primarily due ... Read the full article
CCR Re gross premium reaches €665mn in H1 2021
1st September 2021
French public-sector reinsurer CCR Re has reported gross premiums of €665 million during the first half of 2021, a 14% increase from the prior year period. Owing to the firm’s risk management and provisioning policy, underwriting profitability was unaffected by the consequences of COVID-claims covered in 2020. Underwriting profitability was also mostly ... Read the full article
P&C reinsurers enjoy profit and premium rise over H1: RAA
26th August 2021
New data released by The Reinsurance Association of America (RAA) shows an increase in both profitability and net premiums for US property and casualty (P&C) reinsurers over the first half of 2021. The data, collected by RAA from 17 reinsurers globally, shows a marked improvement in the combined ratio of the ... Read the full article
Peak Re profit growth drives higher reinsurance revenues for Fosun in H1
25th August 2021
Fosun International Ltd., the Chinese conglomerate and investment company, has announced a much-improved contribution from its insurance and reinsurance businesses during the first-half of 2021. Overall, the insurance and reinsurance operations at Fosun delivered RMB 15.48 billion (almost US $2.4bn) of revenues in the first-half of this year, achieving a ... Read the full article
Ardonagh sees H121 income rise 33.4% to £433mn
19th August 2021
The Ardonagh Group has reported a 33.4% rise in income to £443.2 million for the first half of 2021, and an adjusted EBITDA increase of 53.4% to £153.3 million. Year-to-Date the broker also shouldered £279.9 million in operating costs, a 24.5% increase from the prior year period. Results were said to be ... Read the full article
Hippo marks Q2 2021 with premium growth jump to $159mn
17th August 2021
Home insurer Hippo has seen its total amount of generated premium increase by 101% to $159 million for the second quarter of 2021. The firm also crossed $500 million in total generated premium in force and year-one customer retention grew to 88%. Two new products were highlighted as having been introduced to ... Read the full article
GIC Re’s combined ratio hits 123% in Q2
16th August 2021
GIC Re has announced a combined ratio of 123.36% for the second quarter of 2021, a considerable slide from the 112.16% previously registered in Q2 2020. Adjusted Combined Ratio is 112.35% against 105.88% for the prior year period Gross Premium Income stands at $192.6 million for second quarter, down from the $214.1 ... Read the full article
Brookfield Reinsurance secures Q2 net income of $2mn
16th August 2021
Brookfield Reinsurance has announced a second quarter net income of $2 million, up from the $1 million loss reported for the prior year quarter. The increase in net income is attributed to additional assets under management and stronger investment returns. At quarter end, The group held $1.1 billion in excess capital, which ... Read the full article
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