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.
Goosehead hits $1bn premium milestone
25th November 2020
Goosehead Insurance, an independent personal lines insurance agency, has surpassed $1 billion in total premium placed for the trailing twelve months ending October 31, 2020. “This is an important and gratifying milestone for our firm as we progress towards our long-term goal of US personal lines industry leadership,” said Mark E ... Read the full article
1347 PIH posts Q3 loss, updates on rebrand
24th November 2020
1347 Property Insurance Holdings has released its financial results for the third quarter of 2020, which show a net loss attributable to common shareholders of $9.9 million. The holdings company’s loss is due to the change in fair value of the company’s investment in the common stock of FedNat Holding Company. Its ... Read the full article
PartnerRe reports solid Q3 net income despite non-life underwriting loss
19th November 2020
Bermuda-based reinsurer PartnerRe has reported net income of $206 million for the third-quarter of 2020 on the back of net unrealised investment gains of $218 million, although its non-life segment fell to an underwriting loss of $20 million in the period. Net income of $206 million in Q3 2020 represents a ... Read the full article
Selective hits $70mn net income over Q3
17th November 2020
Selective Insurance saw its net income reach $69.9 million over the third quarter, up from the $56.2 million achieved in the prior year period. Year-to-date income is still lagging behind 2019 by 37%, however. The company has also seen its combined ratio improve 1.4 percentage points after a catastrophe-heavy Q2 2020 had ... Read the full article
Suncorp expecting broadly neutral COVID-19 impact across first half of FY
17th November 2020
The impact of COVID-19 across Suncorp’s general insurance portfolio is expected to be broadly neutral for the first half of the 2021 financial year. Impacts during this period include an assessment for potential business interruption (BI) claims from the second Victorian lockdown. Additionally, temporary short- term reductions in motor claims frequency, continued ... Read the full article
BRP Group falls to a $6.6mn Q3 operating loss
13th November 2020
Independent insurance distribution firm BRP Group has reported a $6.6 million operating loss for the third quarter, having registered a $1.4 million profit in the prior year period. The group also registered a $7.6 million net loss for the quarter, a drop from the $2.3 million loss reported during the same ... Read the full article
Non-life performance helps Ageas to solid Q3 results
13th November 2020
Personal and commercial insurer Ageas has reported a Group net result of €203 million for the third quarter of 2020, driven by strong performance in its non-life business. Looking at the first nine months of the year, the net result stands at €994 million, to a large extent supported by the ... Read the full article
IGI improves Q3 profit, grows reinsurance premiums
13th November 2020
Specialist commercial insurance and reinsurer International General Insurance Holdings Ltd. (IGI) improved its profit to $9.5 million for the third quarter of 2020, compared with $4.3 million for the same period last year. For the first nine months of the year, profit was also up slightly to $20.7 million, from $19.2 ... Read the full article
Generali’s net profit dips 40% but operating result spikes on P&C improvement
13th November 2020
Generali has reported a 40% decline in Group net profit for the first nine months of the year to approximately €1.3 billion, while gross written premiums (GWP) increased slightly, year-on-year, to roughly €52 billion. The Group's net profit was impacted by €310 million in net impairments on investments related to the ... Read the full article
Lemonade reports $30.9 million net loss in Q3 2020
12th November 2020
Insurtech start-up Lemonade has reported a net loss of $30.9 million for the third quarter of 2020, representing a mild improvement when compared to a net loss of $31.1 million for the same period last year. The company also announced its in force premium doubled year-on-year, while gross profit increased 83%, ... Read the full article
Talanx falls to €1.97bn underwriting loss as COVID claims exceed €1bn
12th November 2020
Talanx, the parent of reinsurer Hannover Re, has reported that its underwriting result declined by more than 50% in the first nine months of the year to a loss of €1.97 billion, as the company exceeded its large losses budget as a result of substantial COVID-19-related claims. Overall, 9M 2020 losses ... Read the full article
Zurich reports 3% rise in P&C premiums; unchanged COVID-related claims
12th November 2020
Global insurer Zurich has reported a 3% rise in property and casualty (P&C) gross written premiums (GWP) for the first nine months of 2020 to $27.3 billion, while P&C COVID-19-related claims are reportedly unchanged at roughly $450 million. GWP growth in P&C during the period was driven by 9% growth in ... Read the full article
Cat losses push Palomar to Q3 net loss
11th November 2020
California-based insurance holding company Palomar has reported a net loss of $15.7 million for the third quarter of 2020, driven by the active US hurricane season. This compares with a net income of $7.5 million for the same period last year. Palomar had previously warned ahead of an estimated $38 million ... Read the full article
Global Indemnity posts $15.2mn Q3 net loss
10th November 2020
Property and casualty insurer Global Indemnity has reported a net loss of $15.2 million for the third quarter, against an income of $6.7 million in the same period last year. Global Indemnity recorded a combined ratio of 107.2% (Loss Ratio 69.2% and Expense Ratio 38.0%) as against its 95.2% (Loss Ratio 55.2% ... Read the full article
Berkshire reports 9M 2020 P&C reinsurance underwriting loss
9th November 2020
Warren Buffett’s Berkshire Hathaway has reported a P&C reinsurance pre-tax underwriting loss of $706 million for the first nine months of 2020 against a gain of $472 million a year earlier, as loss and loss adjustment expenses increased by 48% to $2.4 billion. The elevated level of catastrophe losses during the ... Read the full article
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