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.
Greenlight Re posts income of $6.5m as investments offset underwriting loss
6th May 2021
Hedge fund-backed reinsurer Greenlight Re has recorded net income of $6.5 million for the first quarter of 2021 against a net loss of $40.3 million a year earlier, despite falling to an underwriting loss on the impacts of winter storm Uri in the U.S. in February. During Q1 2021, gross written ... Read the full article
Palomar posts 41.2% net income rise in Q1
6th May 2021
California-based specialty insurer Palomar has reported a net income of $16.6 million for the first quarter of 2021, up 41.2% on the $11.8 million achieved during the prior year quarter. Gross written premiums increased by 44.9% to $103.6 million compared to $71.5 million this time last year. Adjusted net income increased 56.5% ... Read the full article
QBE positive on Q1 performance despite $260mn nat cat bill
6th May 2021
Each one of QBE's divisions secured premium rate increases that were either in line with or stronger than expectations during 2021's first quarter. Speaking during QBE's 2021 Annual General Meeting, Chairman and Interim Chief Executive Officer Michael Wilkins said headline Gross Written Premium was up 28%. This reflects premium rate increases, continued ... Read the full article
Munich Re’s Q1 operating result improves on lower COVID impact
6th May 2021
Global reinsurer Munich Re has announced a profit of €589 million for the first quarter of 2021 against €221 million a year earlier, as the operating result spiked owing to a considerably lower impact from COVID-19 losses in the period. For Q1 2021, Munich Re's operating result improved from €397 million ... Read the full article
Mercury General reports $107mn net income for Q1
5th May 2021
Mercury General Corporation has reported a net income of $107 million for the first quarter of 2021, after having fallen to a $139 million loss in the prior year quarter. This turn around was largely driven by the company's investment performance, having registered a $231 million improvement after having announced $198 ... Read the full article
FedNat reports net loss of $19.4mn
5th May 2021
FedNat Holding Company has reported a net loss of $19.4 million for Q1 2021, compared to a net income of $2.1 million for the prior year period. The net loss was primarily the result of Winter Storm Uri, which caused heavy residential damage in Texas, primarily associated with freezing temperatures causing ... Read the full article
Verisk insurance revenues up 8.1% in Q1
5th May 2021
Data analytics provider Verisk has reported overall revenue growth of 5.3% to $726.1 million during the first quarter of 2021, boosted by revenue growth of 8.1% in its insurance segment. Underwriting and rating revenues increased 7.7% in the quarter, resulting primarily from annual increases in prices derived from enhancements to solutions ... Read the full article
American Financial Group reports net income of $419 million
5th May 2021
Insurance and investments holding company, American Financial Group has reported its net income for Q1 at $419 million compared to a net loss of $301 million for Q1 2020. Its first quarter 2021 combined ratio improved to 88.5%, improving 3.7 points from the prior year period. P&C insurance operations generated an underwriting ... Read the full article
Hiscox reports 6.3% premium growth, no change to COVID losses
5th May 2021
Hiscox Group, the specialist insurance and reinsurance underwriter, has reported that its gross written premiums increased 6.3% to $1.26 billion during the first quarter of 2021, as strong growth in Hiscox London Market, Hiscox Europe and direct and partnerships business more than offset planned reductions in the US broker channel. The ... Read the full article
Hannover Re improves P&C results, confirms profit targets for 2021
5th May 2021
Hannover Re, one of the major European reinsurers, has confirmed its profit targets for 2021 after posting double-digit growth in premium income in the first quarter, as well as modestly improved group net income. Gross premiums were up by 11.9%, or 16.8% adjusted for exchange rate effects, while net income increased ... Read the full article
AXA reports 2% revenue growth for Q1; favourable price effects at AXA XL
4th May 2021
Global insurer AXA has reported total revenue growth of 2% for the first quarter of 2021 to €31 billion, driven in part by favourable price effects at AXA XL which helped its commercial lines segment grow by 4% to €11.6 billion during the period. Across AXA's property and casualty (P&C) operation, ... Read the full article
CNA Financial reports net income of $312 million
4th May 2021
Chicago-based insurer CNA Financial Corporation has reported an improved net income of $312 million, a vast improvement to a net loss of $61 million in the prior year quarter. However the insurer reported a P&C combined ratio of 98.1% compared with 97.3% in the prior year quarter, this included 6.8 points ... Read the full article
Argo’s Q1 net profit improves to $27.2m despite higher cat losses
4th May 2021
Argo Group International Holdings, Ltd. has reported net income of $27.2 million for the first quarter of 2021 against a net loss of $24.7 million a year earlier, despite elevated catastrophe losses during the period. At the same time, Argo has reported an increase in operating income from $12.5 million in ... Read the full article
Berkshire Hathaway’s reinsurance unit hit by Uri & COVID mortality claims
3rd May 2021
Berkshire Hathaway's global reinsurance business continued to feel the effects of the COVID-19 coronavirus pandemic during the first-quarter of the year, with mortality claims driving the life reinsurance business to a loss. At the same time, Berkshire Hathaway’s property and casualty reinsurance division delivered a profitable quarter's underwriting, despite a $310 ... Read the full article
Kemper Corp reports net income of $123.2mn
30th April 2021
US insurer Kemper Corporation has reported net income of $123.2 million for its Q1 results compared to $64.0 million, for the year prior. In the first quarter of 2021, net income included a $41.2 million after-tax gain, or $0.62 per diluted share, attributable to the change in fair value of equity ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
