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.
Hiscox reports 93.1% combined ratio as reinsurance returns to profit in H1
3rd August 2021
Insurer and reinsurer Hiscox has announced a turnaround of its financial performance for the first half of 2021, as the carrier's pre-tax profit reached $133.4 million, compared with a loss of almost $140 million for the same period last year. At the halfway stage of last year, Hiscox reported reserves ... Read the full article
CNA improves Q2 income, targets new business
2nd August 2021
Chicago-based insurer CNA Financial Corporation has improved its net income to $368 million for the second quarter of 2021, due to new business generation, strong investment results, and lower levels of catastrophe losses. The result is more than double the $151 million that CNA posted in Q2 of last year, when ... Read the full article
AXA’s underlying earnings rise as AXA XL improves underwriting result
2nd August 2021
Global insurer AXA has reported a 101% increase in underlying earnings to €3.6 billion and a rise in net income to €4 billion for the first half of 2021, driven by an improved performance in its Property & Casualty (P&C) unit as a result of a strong underwriting result at ... Read the full article
Fairfax reports Q2 net earnings of $1.2bn
2nd August 2021
Canadian property and casualty insurer and reinsurer, Fairfax Financial Holdings' net earnings for Q2 2021 came in at $1.201 billion compared to $434.9 million for the same prior year period. Meanwhile, gross premiums written by Fairfax's re/insurance operations increased to $5.977 billion from $4.702 billion in Q2 2020. The consolidated combined ratio ... Read the full article
Aon’s revenue from Commercial Risk jumps 20% in Q2
30th July 2021
Broking giant Aon has benefited from a 20% jump in revenue within its commercial risk segment, citing strong new business generation, retention, and management of the renewal book portfolio. This improvement has also been attributed to the more discretionary portions of Aon’s business, primarily in transaction liability, project-related work, construction, and ... Read the full article
Brit hits $1.464bn GWP in H1
30th July 2021
Insurer and reinsurer Brit Ltd has reported gross written premiums of USD1.464 billion for H1 2021, up slightly from $1.282 billion during the same prior year period. The company also reported a combined ratio of 94.6%, an improvement from the 106.7% reported in H1 2020. The company claims that this reflects a ... Read the full article
Gallagher views M&A a key growth engine despite Aon / WTW deal collapse
30th July 2021
Gallagher’s Chairman, President and Chief Executive Officer J. Patrick Gallagher, Jr. has underlined the broker’s commitment to mergers and acquisitions as a “proven strategic growth engine,” despite the breakdown of its deal with Aon to acquire chunks of rival Willis Towers Watson. His comments came alongside Gallagher’s quarterly results statement, ... Read the full article
Universal Insurance reports 14% revenue growth in Q2
30th July 2021
Florida headquartered and expansive primary insurance company, Universal Insurance Holdings, has reported that its total revenue increased 14.3% in the second quarter, while direct premiums written jumped 17% to $473.6 million. The insurer also reported a combined ratio of 97.3%, which slightly improved from 99.5% in Q2 2020. The improvement was driven ... Read the full article
Swiss Re returns to profit as P&C improvement offsets COVID-related L&H loss
30th July 2021
Global reinsurance giant Swiss Re has reported net income of $1 billion for the first half of 2021, as an improved performance in its property and casualty (P&C) business more than offset a COVID-19 driven loss in its life and health (L&H) reinsurance division. Swiss Re's H1 2021 Group-wide profit would ... Read the full article
Positive conditions to persist, but industry behind curve on loss costs: AXIS CEO
29th July 2021
Albert Benchimol, President and Chief Executive Officer (CEO) of Bermuda-based AXIS Capital Holdings, expects positive re/insurance market conditions to persist well into 2022, but warns that the industry is yet to get to grips with its loss cost trends. AXIS' recently published Q2 results show that the firm continues to ... Read the full article
Coface reports net income of €123.2mn for H1
29th July 2021
Credit insurer Coface has reported a net income of €123.2 million for H1 2021, improving from €24 million for the same prior year period. The insurers' combined ratio stood at 51.9% for H1, an improvement compared to last year’s 88.6%. This comprised of a loss ratio, net of reinsurance, of 21.4% and ... Read the full article
More lines hitting rate adequacy but discipline remains paramount: Lancashire execs
29th July 2021
After several years of rate increases, underwriting conditions remain favourable with more lines of business achieving rate adequacy, but this shouldn’t be viewed as an invitation to relax underwriting discipline, according to executives at specialty insurance and reinsurance group, Lancashire Holdings. Announcing its first half 2021 financials yesterday, Lancashire reported ... Read the full article
The Hartford reports $900mn Q2 net income
29th July 2021
US property and casualty insurer The Hartford has reported a Q2 2021 net income of $900 million, an increase of 94% from $463 million in Q2 2020. Its combined ratio in the second quarter came in at 88.9%, with an underlying combined ratio of 89.4%, a 13.5 point improvement from 102.9%. The ... Read the full article
Arch’s underwriting performance improves across its operations in Q2
29th July 2021
Bermuda domiciled insurer and reinsurer, Arch Capital Group Ltd., has reported a return to underwriting profit for the second-quarter of 2021, driven by improved performances in its insurance, reinsurance, and mortgage segments. Across its operations, underwriting income reached $386.5 million for the second quarter of 2021, compared with a loss of ... Read the full article
R&Q program management hits $445mn GWP in H1
29th July 2021
Non-life global specialty insurer Randall & Quilter achieved $445 million in Gross Written Premium during the first half of 2021, an 80% increase from the $247 million seen in the prior year period. Fee Income, which represents program fee revenue and the firm’s share of earnings from minority stakes in MGA’s, ... Read the full article
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