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.
Guy Carpenter’s revenue rises to $488m in Q2 as MMC reports higher income
22nd July 2021
International insurance brokerage, Marsh McLennan (MMC), saw its consolidated revenue rise to $5 billion in the second-quarter of 2021, supported by an increase in revenue at its reinsurance arm, Guy Carpenter. For Q2 2021, MMC's consolidated revenue spiked by 20% when compared with the prior year period and, on an underlying ... Read the full article
RLI grows underwriting incoming in Q2 as premiums up 25%
22nd July 2021
US property and casualty insurer RLI Corp. has reported improved underwriting income during the second quarter of 2021, despite an overall decrease in net earnings. Net earnings came to $81.8 million for the quarter, compared to $92.2 million for the same period last year, mostly due to lower unrealized gains. But operating ... Read the full article
Munich Re’s Q2 profit hits €1.1bn; COVID losses in L&H exceed expectations
20th July 2021
Global reinsurer Munich Re has said that while major-loss costs in its property / casualty (P&C) reinsurance operation came in below average for the second-quarter of 2021, COVID-19 had an adverse effect on its life & health (L&H) business in the period. For the second-quarter of 2021, Munich Re has announced ... Read the full article
Strong investment result & lower cat losses boost Travelers in Q2
20th July 2021
The Travelers Companies, Inc. has reported a significantly improved net income of $934 million for the second-quarter of 2021 on the back of lower catastrophe losses, favourable reserve development, and a vastly improved investment result. Net income of $934 million compares with a net loss of $40 million for the second-quarter ... Read the full article
Truist Financial’s Q2 net income rises to $1.6bn
16th July 2021
Purpose-driven financial services firm Truist Financial Corporation has announced a second quarter net income of $1.6 billion, up 73% compared to last year’s quarter. Results for the quarter also produced an annualised return on average assets (ROA) of 1.28%, an annualised return on average common shareholders' equity of 10.1% and an ... Read the full article
Ryan Specialty plans IPO as 2020 revenue tops $1bn
22nd June 2021
Ryan Specialty Group Holdings, Inc. (RSG) has announced plans for an initial public offering (IPO) of an undisclosed number of shares of its Class A common stock, as the company reports $1 billion of revenue and impressive organic growth for 2020. This is the very first time there has been public ... Read the full article
B.P. Marsh reports higher profit, rise in NAV despite pandemic impacts
8th June 2021
Venture capital provider B.P. Marsh & Partners Plc has reported consolidated profit after tax of £13.7 million for the year ended 31st January, 2021, compared with £12.5 million for the prior year period. For the year, B.P Marsh has reported a 9.5% rise in Net Asset Value (NAV) to £149.9 million ... Read the full article
Helios reports drop in 2020 profit off Covid-driven market pressures
28th May 2021
Lloyd’s of London investment and underwriting vehicle Helios has announced a £336,000 profit for 2020, down from the £2.4 million reported in 2019. Helios says profitability has been significantly impacted by poor underwriting conditions and by the impact of COVID-19 losses. In its wake, the expectation of improved underwriting margins has allowed ... Read the full article
Global P&C reinsurers write $18bn in premiums of Q1
27th May 2021
Data from the Reinsurance Association of America (RAA) shows that a group of 17 U.S. property and casualty (P&C) reinsurers wrote $17.9 billion of net premiums during the first three months of 2020, an increase from the $16.5 billion recorded in 2019. The combined ratio for the group was 98.4%, deteriorating ... Read the full article
Aviva reports improved combined ratio for Q1
27th May 2021
London headquartered insurer Aviva has reported an improved combined ratio of 90.6% from an unprofitable 118.7% for the first quarter of 2021. The insurer owes this improvement to better underwriting performance, as well as improved weather and a reduction in COVID-19 related claims, compared to the prior year and frequency benefits ... Read the full article
Randall & Quilter reports $538.9mn GWP for 2020
24th May 2021
Randall & Quilter Investment Holdings has released its results for 2020, showing a gross written premium (GWP) of $538.9 million, a 46% increase from $368.9 million in 2019. The company also reported a Pre-Tax Operating Profit of £16.0 million, an increase of 102%, reflecting a year of accelerated growth across both ... Read the full article
IGI returns to profit as underwriting & investments improve
21st May 2021
International General Insurance Holdings Ltd. (IGI) has reported profit of US $14.5 million for the first quarter of 2021, compared with a loss of $900,000 for the same period last year. This was partly attributable to an improvement in underwriting performance, as the net underwriting result stood at $27.6 million at ... Read the full article
Peak Re profits surge in 2020 as premiums up 18%
20th May 2021
Peak Reinsurance Company Limited the Hong Kong-based global reinsurer has reported a 150% increase on net profit for 2020 when compared with the previous year. Net profit grew to $87.1 million, from $34.9 million in 2019, helped by a large increase in gross written premiums. GWP in 2020 rose to $1.966 billion, ... Read the full article
Sompo International reports $9.17bn decrease in profits
20th May 2021
Sompo International has reported a JPY 20 billion ($9,176 billion) decrease in profits for its business over the full-year 2020 period, which the company attributes to the impact of the COVID-19 pandemic. For the 2021 fiscal year, Sompo is forecasting an underwriting profit of $459 million, compared to its profit of ... Read the full article
MS Amlin reports £277mn drop in net income for 2020
20th May 2021
MS Amlin saw net income fall £277 million in 2020, a further drop from the £55 million loss announced in 2019, primarily driven by COVID-19 impacts. Excluding the impact of COVID-19, underwriting profit was £28 million and net income was £83 million, up from the previous year. Net premiums written in were ... Read the full article
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