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.
Lancashire reports strongest ever Q1 premium; up to $45m of Uri losses
29th April 2021
Lancashire Holdings Limited has announced its strongest ever first quarter premiums for 2021 as gross premiums written (GPW) increased by 46.1% year-on-year to $354.8 million, with a renewal price index of 112%. The growth in premiums written was largely a result of growth in the property and casualty (P&C) reinsurance segment ... Read the full article
Coface announces net income of €56.4m for Q1
28th April 2021
Credit insurer Coface has reported a net income of €56.4m (USD 68.1m) for Q1 2021, a vast improvement from the €12.7m (USD 15.3m) recorded in Q1 2020. The insurer announced an improved combined ratio at 52.8% compared to 86.8% for the year prior. This is comprised of a loss ratio, net of ... Read the full article
Arch reports higher Q1 underwriting gain despite reinsurance segment loss
28th April 2021
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has reported net income of $427.8 million for the first-quarter of 2021, as underwriting gains in both its Insurance and Mortgage segments more than offset a loss in the firm's Reinsurance operation during the period. Year-on-year, net income increased by approximately $294 million ... Read the full article
Chubb’s P&C underwriting income hits $622m despite elevated cat losses
28th April 2021
Global re/insurer Chubb has announced a P&C combined ratio of 91.8% for the first-quarter of 2021 and underwriting income of $622 million, despite pre-tax catastrophe losses, net of reinsurance and including reinstatement premiums, of $700 million for the period. When compared with the first-quarter of 2020, Chubb's P&C combined ratio has ... Read the full article
SCOR reports 72% decline in Q1 net income amid COVID & nat cat losses
28th April 2021
Global re/insurer SCOR has reported a 72% dip in net income for the first quarter of 2021 to €45 million, as COVID-19 impacted the life side of the business and natural catastrophes hit the performance of its P&C operation in the period. SCOR notes that its Q1 2021 results have been ... Read the full article
Donegal Group reports increase in net profit for Q1
27th April 2021
Donegal Group has reported its financial results for Q1 2021, showing an increase of net income which came to $10.5 million compared to $3.7 million for the prior year period. For Q1 it reported a combined ratio of 98.5% compared to last year’s 97.0% showing a slight deterioration, although still profitable. The ... Read the full article
Guy Carpenter’s revenue up 7% as Marsh reports ‘outstanding’ first quarter
27th April 2021
Global insurance brokerage Marsh McLennan has reported consolidated revenue of $5.1 billion for the first quarter of 2021, supported by solid revenue growth at its reinsurance broking arm, Guy Carpenter. Consolidated revenue increased 9%, or 6% on an underlying basis from the prior year quarter, as operating income jumped, year-on-year, from ... Read the full article
Organic revenue growth boosts Brown & Brown’s Q1 income
27th April 2021
Insurance brokerage Brown & Brown has posted a 31.0% increase in net income for the first quarter of 2021, on the back of strong organic revenue growth, rate increases, and good business retention. Net income for the quarter was $199.7 million, representing an increase of $47.3 million over the same period ... Read the full article
Ping An net profit rises in Q1
23rd April 2021
Ping An Insurance Company of China has announced its Q1 financial results, showing an increase in net profit by 4.5% year-on-year. Net profit came to RMB 27.233 billion (USD 4.2 billion) for the three-month period, while operating profit increased by 8.9% year on year to RMB 39.120 billion (USD 1.8 million). In ... Read the full article
Hartford’s Q1 net income hits $244mn despite heavy core earnings blow
22nd April 2021
The Hartford has announced first quarter net income of $244 million, down 9% from the prior year quarter. The US property and casualty insurer’s Q1 results were particularly impacted by a $650 million settlement with the Boy Scouts of America (BSA), $214 million in pre-tax net catastrophe losses and $185 million ... Read the full article
RLI’s combined ratio strengthens to 86.9% in Q1 2021
22nd April 2021
US property and casualty insurer RLI Corp. has reported net earnings of $73 million for the first-quarter of 2021 and underwriting income of $29.9 million, aided by an uptick in net favourable prior year reserve development. Net earnings improved significantly for the firm in the opening quarter of the year, hitting ... Read the full article
W. R. Berkley posts record quarterly underwriting gain for Q1
21st April 2021
W. R. Berkley Corporation has reported net income of $229.5 million and a quarterly underwriting gain of $182.6 million for the first-quarter of 2021. The company's net income improved significantly from the $4.4 million loss reported a year earlier, while underwriting income reached a quarterly high. Both gross and net premiums written ... Read the full article
Travelers reports higher Q1 profit result despite $835m cat losses
20th April 2021
The Travelers Companies, Inc. has reported a year-on-year increase in net income to $733 million for Q1 2021, despite catastrophe losses, net of reinsurance, hitting $835 million. Up from $600 million in the prior year period, the increase was driven by higher core income, higher net favourable prior year reserve development ... Read the full article
The Hanover announces Q1 catastrophe losses of $133m
16th April 2021
The Hanover Insurance Group, Inc. expects to incur catastrophe losses of approximately $133 million, pre-tax ($105m after-tax), for the first-quarter of 2021, primarily as a result of the impacts of Winter storms Uri and Viola. For the carrier, the largest impact from the severe weather was in Texas, where it estimates ... Read the full article
Truist sees rise in net income as insurance segment delivers record performance
15th April 2021
Truist Financial Corporation, a purpose-driven financial services company, has reported net income of $1.3 billion and adjusted net income of $1.6 billion for the first-quarter of 2021, driven in part by the record performance of its insurance operation in the period. Year-on-year, net income and adjusted net income increased by 35.3% ... Read the full article
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