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.
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
COVID drags Tokio Marine International 2020 profits down 44%
20th May 2021
Tokio Marine Holdings, Inc. has reported a 44% decrease in profits for its international business over the full-year 2020 period, which the company attributes almost entirely to the impact of the COVID-19 pandemic. Total full-year profits across the international business segments came to JPY 101.1 billion (USD 928 million), which was ... Read the full article
VIG Re reports higher profits and 13% premium growth
19th May 2021
VIG Re, the Prague-based reinsurance arm of Vienna Insurance Group (VIG), has reported improved profitability over the first quarter of 2021, helped by strong premium growth of 13%, compared with the same period last year. Profit for the Q1 2021 period totalled €2.79 million, compared with €2.42 million in Q1 2020. Meanwhile, ... Read the full article
Generali’s Q1 2021 operating result improves to €1.6bn
18th May 2021
Generali has reported a year-on-year improvement in its operating result to €1.6 billion for the first quarter of 2021, driven by a strong performance in the Property and Casualty (P&C), Asset Management, and other business segments during the period. The global insurer's consolidated operating result increased by 11% from the prior ... Read the full article
Oxbridge Re posts improved Q1 net income
17th May 2021
Cayman Islands based Oxbridge Re generated a first quarter net income of $28,000, up from the $364,000 loss announced in the prior year quarter. The company attributes this improvement to a positive change in the fair value of equity securities compared to the depressed financial markets a year ago. However, the combined ... Read the full article
Trean net income sinks to $6.8m, but CR improves to 89%
13th May 2021
Insurance management and reinsurance consulting company Trean Insurance Group, Inc. has posted net income of $6.79 million for the first quarter of 2021, representing a decrease of 29.3% on the same period last year. The result was mainly attributable to a 51.3% decrease in investment income, which totalled $1.59 million versus ... Read the full article
Conduit reports successful first quarter as premiums exceed plan
13th May 2021
Conduit Re, the newly-launched property and casualty reinsurer, has reported a successful initial quarter of trading with estimated ultimate premiums written of $199.1 million. At almost $200 million, Conduit Re's total expected ultimate premiums written came in ahead of the $160 million announced in its January trading statement. At the same ... Read the full article
Beazley reports growth in premiums to $971mn; 16% rate increase
13th May 2021
Specialist insurer Beazley has reported a 16% rise in gross premiums written (GPW) to $971 million for the first quarter of 2021, alongside premium rates on renewal business that came in above expectation. Rate momentum on renewal business saw an increase of 16% during Q1 2021, compared with 8% for the ... Read the full article
Lemonade reports $75.8mn in gross written premiums
12th May 2021
Insurtech start-up Lemonade has released its results for the first quarter of 2021, reporting $75.8 million in gross written premiums compared to $ 38.1 million for the prior-year period. The insurtech company also reported a gross profit of $1.9 million, compared to $4.6 million for the first quarter of 2020. This was ... Read the full article
Allianz reports 45% operating profit growth in Q1
12th May 2021
Global insurer Allianz has reported a 44.8% rise in operating profit to €3.3 billion over this year’s first quarter, with all segments contributing. Total revenues declined 2.6% to €41.4 billion and were flat compared to the prior-year level, adjusted for currency and consolidation effects. Net income attributable to shareholders increased 83.4% to ... Read the full article
Zurich reports Q1 P&C premium growth of 14%; rate change of 7%
12th May 2021
Zurich has announced property and casualty (P&C) gross written premium (GWP) growth of 14%, or 9% on a like-for-like basis to more than $11 billion for the first quarter of 2021, supported by higher premium rates in all regions and driven by commercial insurance. Overall, rate changes in P&C came in ... Read the full article
PartnerRe’s non-life combined ratio improves despite Uri losses
12th May 2021
Bermuda domiciled reinsurer PartnerRe has reported a non-life underwriting profit of $40 million and a combined ratio of 96.7% for the first quarter of 2021, despite $104 million of net losses from Winter Storm Uri. The non-life underwriting performance represents a marked improvement from the loss of $46 million and combined ... Read the full article
Heritage CEO eyeing future return to double-digit ROEs in Florida
11th May 2021
Heritage Insurance Chief Executive Kirk Lusk says his company is implementing rating and underwriting actions within the Florida market that will facilitate a to return to double-digit ROEs in the future. Speaking during a recent earnings call, Lusk identified the Florida’s litigious environment as having creating such a difficult environment to ... Read the full article
$62.5mn share buyback bolsters Maiden’s Q1 income
11th May 2021
Maiden Holdings has reported a first quarter net income attributable to shareholders of $71.7 million, boosted by a $62.5 million gain from the repurchase of preference shares. Underwriting income for the quarter was $1.6 million compared to a loss of $3.7 million in the same period in 2020. This underwriting income improvement ... Read the full article
BRP Group reports a net profit of $30.6mn
11th May 2021
Independent insurance distribution firm BRP Group has reported a net income of $30.6 million compared to $4.7 million for the same prior-year period. This meant that its net income margin improved to 20%, compared to 9% the year before. The group also reported its revenue increased by 182% year-over-year to $152.8 million. Trevor ... Read the full article
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