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.
Fairfax expects “solid operating income” for Q1 despite storm losses
15th April 2021
Fairfax Financial Holdings Limited expects to report “solid operating income” for the first quarter of 2021 despite the impact of US winter storms. In preliminary financial reports for the quarter, Fairfax estimated that its consolidated combined ratio will be approximately 96%, with net favourable prior year reserve development. This was due to ... Read the full article
COVID & Beirut explosion weigh on CCR Re’s results
12th April 2021
French state-owned reinsurer CCR Re has reported a 49% decrease in net income over 2020, as the impact of the COVID-19 pandemic and the Beirut explosion weighed heavily on its results for the year. The company reported net income of €18 million for 2020, down from €35 million in the previous ... Read the full article
Athora profits rebound to €700mn
6th April 2021
European life insurance and reinsurance group Athora Holding, Ltd. has reported IFRS profit of €700 million in 2020, from continuing operations before tax. This compares to a loss of €13 million in 2019, with Athora attributing the rebound primarily to the consolidation of Athora Netherlands in April 2020 and a gain ... Read the full article
Oil Insurance reports $66.9mn underwriting profit
6th April 2021
Bermuda based insurer Oil Insurance has reported a $66.9 million underwriting profit for 2020, compared with an underwriting gain of $364 million in the prior year. After factoring in net investment gains and administrative expenses, Oil’s net profit for the year was $466.5 million, under half of 2019's profit of $1.034 ... Read the full article
Metromile plans reinsurance restructure as loss narrows
31st March 2021
San Francisco based car insurance start-up Metromile has announced that it plans to restructure its reinsurance program going forward, as the company reported improved performance over 2020. Metromile recorded a net loss of $37.4 million for 2020, as it narrowed its annual loss from $69.8 million in 2019 and $65.7 million ... Read the full article
Aspen posts $40.1mn 2020 net loss
31st March 2021
Bermudian re/insurer Aspen Insurance Holdings has announced a $40.1 million net loss for 2020, driven by above average catastrophe losses and $181.2 million in costs associated with COVID-19. These factors, as well as an incurred cost on interest rate swaps totalling $81.1 million, were also a driver in the company's $37.2 ... Read the full article
Peak Re profits surge on top line growth
31st March 2021
Hong Kong-based reinsurer Peak Re has reported a year-on-year rise in net profit in 2020 to US $90.8 million, on the back of 18.1% growth in gross written premiums. Profit was significantly up from the $35 million that Peak Re reported in 2019, while premium income rose to $1.966 billion, up ... Read the full article
Lloyd’s reports net loss for 2020 on COVID-19 losses of £3.4bn
31st March 2021
The specialist Lloyd's of London insurance and reinsurance marketplace has reported a net loss of £900 million for 2020 against profit of £2.5 billion a year earlier, as net incurred COVID-19 losses, net of reinsurance, reached a significant £3.4 billion. On a gross basis, customer payouts related to the pandemic are ... Read the full article
ZhongAn reports $85m profit for 2020
24th March 2021
China’s largest online-only insurer ZhongAn has announced net profit of RMB 554 million (USD 84.9 million) for 2020, with performance driven by its health and digital lifestyle ecosystem. Over the year, ZhongAn Online's total gross written premiums (GWP) rose 14.2% year-on-year to RMB 16,705.9 million. ZhongAn Online's operating metrics also improved as ... Read the full article
FG Financial reports $23.9mn loss for 2020
19th March 2021
Reinsurance and investment management holding company FG Financial Group has reported a $23.9 million net loss for 2020. Major items contributing to the net loss included non-cash losses associated with the change in fair value of the company’s investment in FedNat of $16.2 million. Furthermore, during the third quarter FGF realised losses ... Read the full article
Maiden Holdings returns to underwriting profitability in 2020
16th March 2021
A return to underwriting profitability and a favourable result from continuing operations helped Maiden Holdings, Ltd. produce net income of $47.7 million and $80 million for the fourth-quarter and full-year 2020, respectively. For the quarter, net income improved significantly from the $21.5 million net loss reported for the same period in ... Read the full article
CCR Re’s premium income jumps 12% at Jan 1 reinsurance renewals
16th March 2021
French state-owned reinsurer CCR Re has reported overall premium income growth of 12% to €50 million at the January 1st, 2021 reinsurance renewals, a period which represents roughly 70% of its annual premium income volume across both P&C and L&H reinsurance. The reinsurer explains that it underwrote roughly €500 million at ... Read the full article
Talanx falls to underwriting loss on €2.1bn of large losses
15th March 2021
Talanx, the parent of major European reinsurance company Hannover Re, has reported an underwriting loss of €2.8 billion for 2020 amid total large losses of a significant €2.1 billion, driven mostly by the coronavirus pandemic. The company's underwriting performance deteriorated further from the €1.8 billion loss reported in 2019, as the ... Read the full article
IGI posts robust 2020 result as underwriting performance improves
12th March 2021
International General Insurance Holdings Ltd. (IGI) has reported profit of $10.9 million and $31.6 million for the fourth-quarter and full-year 2020, respectively, as well as an improved underwriting performance for both periods. For Q4 2020, profit more than doubled from the $4.3 million posted in 2019, as full-year profit spiked by ... Read the full article
HCI’s net income up to $27.6mn in 2020
12th March 2021
HCI Group, Inc. has reported a slight increase in net income for the full-year 2020 to $27.6 million, despite a significant dip in income for the fourth-quarter to just $2.7 million. Year-on-year, Q4 2020 net income fell by almost 58% from the $6.4 million reported in 2019, as adjusted net income ... Read the full article
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