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.
Munich Re’s Q3 profit falls as man-made losses exceed €1bn
5th November 2020
Reinsurer Munich Re has announced a decline in profit to €199 million for the third-quarter of 2020 as its major loss experience swelled to €1.5 billion and its property and casualty (P&C) business fell to an underwriting loss. Munich Re's profit in Q3 fell from the €865 million posted for the ... Read the full article
Protective narrows underwriting loss in Q3
4th November 2020
Property and casualty insurance holding company Protective Insurance Corporation (PIC) has announced its results for Q3 2020, revealing that it narrowed its underwriting loss to $364,000 compared with a loss of $7.8 million for the same period last year. This meant that Protective's underwriting Read the full article
IRB Brasil Re highlights performance recovery as loss narrows in Q3
4th November 2020
Brazilian reinsurer, IRB Brasil Re, has announced an improved performance for the third-quarter of 2020 when compared with the previous quarter, reporting a loss of R$229.8 million (USD 40mn) for Q3 versus a loss of R$685.1 million (USD 119mn) for Q2. The reinsurer notes that the improvement in its performance reflects ... Read the full article
$81mn Q3 underwriting loss pushes Alleghany’s CR to 105.2%
4th November 2020
Investment holding company Alleghany has produced an $81 million underwriting loss for the third quarter of 2020, pushing its combined ratio to 105.2%. The prior year quarter saw Alleghany achieve an underwriting profit of $33 million and a combined ratio of 97.6%. Underwriting losses in the quarter were driven by a $270 ... Read the full article
AXA reports 2% dip in revenues; sees accelerating price increases at AXA XL
4th November 2020
Global insurer and reinsurer AXA has announced that total revenues declined by 2% to €79.7 billion for the nine month period ended September 30th, 2020, as stable revenues within its property and casualty (P&C) business were offset by lower volumes as a result of COVID-19, alongside a decline in personal ... Read the full article
Hannover Re posts 9M underwriting loss; reinstates profit guidance for 2020
4th November 2020
German reinsurance giant, Hannover Re, has reported a 33.4% reduction in Group net income for the first nine months of the year to €667.8 million, as the firm's property and casualty (P&C) reinsurance segment fell to an underwriting loss as major loss expenditure exceeded budget in the period. Group net income ... Read the full article
Athene’s Q3 net income rises by 125% to $622mn
3rd November 2020
Bermuda-based provider of retirement and savings solutions, Athene Holding Ltd., has reported a rise in net income to $622 million for the third-quarter of 2020, driven in part by favourable changes in the fair value of reinsurance assets owing to tightening credit spreads. Net income of $622 million represents a substantial ... Read the full article
Crawford & Company net income doubles in Q3
3rd November 2020
Crawford & Company, a provider of claims management solutions, has released its Q3 results which show that net income has more than doubled to $24.4 million, compared with $11.0 million in the same period last year. However, on a non-GAAP basis, the company’s net income totalled $15.2 million in Q3, compared ... Read the full article
Unprecedented level of weather losses sees Heritage report Q3 loss
3rd November 2020
An unprecedented level of weather losses in the third-quarter of 2020 has pushed super-regional P&C insurer, Heritage Insurance Holdings, Inc., to a net loss of $5.2 million for the period. The reported net loss for Q3 2020 compares with net income of $8.1 million a year earlier, as net current accident ... Read the full article
Kemper’s Q3 results show drop in net income
3rd November 2020
US insurer Kemper Corporation has announced its Q3 results which show that net income has dropped to $122.3 million, compared to $129mn in the same period last year. The company's adjusted consolidated net operating income was $90.9 million for Q3 2020, compared to $130.0 million for Q3 2019. However, the insurer's specialty ... Read the full article
Argo falls to Q3 underwriting loss amid elevated cat losses
3rd November 2020
Argo Group International Holdings, Ltd. has reported a net loss of $31.6 million for the third-quarter of 2020 and an operating loss of $11.9 million, while the company's combined ratio improved slightly, year-on-year, to 110.7%. For the nine month period ended September 30th, 2020, Argo has reported a net loss of ... Read the full article
CNA Financial improves Q3 income despite heavy cat losses
2nd November 2020
Chicago-based insurer CNA Financial Corporation has reported an improved net income of $213 million for the third quarter of 2020 despite clocking an elevated $160 million of catastrophe losses for the period. Top line growth and higher investment income helped the company to beat an income figure of $107 million for ... Read the full article
Rate improvements help Hiscox to grow top line
2nd November 2020
Specialist re/insurer Hiscox has reported a 2% increase in gross written premiums over the first nine months of 2020, helped by strong rate improvements across both its primary and reinsurance business. GWP stood at $3,262.4 million for 9M 2020, compared with $3,212.6 million for the same period last year. This included 7% ... Read the full article
MAPFRE’s revenue falls 12% in first nine months of 2020
30th October 2020
Spanish re/insurer MAPFRE has reported a revenue of €19.1 billion euros for the first nine months of the year, an 11.9% decrease compared to the same period in 2019. Premiums also dropped 11.9% to €15.6 billion. Earnings came in at €450 million, a 2.7% drop compared to the first nine months of 2019. The insurance unit saw ... Read the full article
Investment income saves Watford from Q3 loss
30th October 2020
Bermuda domiciled re/insurance company Watford Holdings has posted a net income of $78.1 million for the third quarter of Q3, as strong investment returns offset an underwriting loss. Watford’s net investment income for Q3 2020 was $92.8 million, a significant improvement on the $14.0 million that it posted for the same ... Read the full article
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