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.
MAPFRE RE reports €80mn COVID hit
11th February 2021
Spanish re/insurer MAPFRE has released its results for 2020, which include an €80 million hit to its reinsurance business from COVID-19. MAPFRE RE incurred a further €68 million in losses due to earthquakes in Puerto Rico but still managed to achieve slight growth (0.2%) in net earnings over 2020, which amounted ... Read the full article
COVID weighs on Tokio Marine’s 9M results
11th February 2021
Japanese property and casualty insurance group Tokio Marine Holdings, Inc. has reported a 39% decrease in profits over the nine-month period ending December 31, 2020. Ordinary profit stood at 182.4 billion yen (USD 1.742 billion) for the period in 2020, versus 299.2 billion yen in the previous year. In particular, Tokio Marine ... Read the full article
Cincinnati improves CR despite higher cat losses
11th February 2021
Primary insurer Cincinnati Financial improved its property casualty combined ratio to 87.3% in the fourth quarter of 2020, despite incurring higher than average catastrophe losses. The combined ratio improved by 4.3 points from 91.6% in Q4 2019, while underwriting profit grew by 57% to $187 million over the same period. This was ... Read the full article
Trisura reports annual net income of $32.4mn
11th February 2021
Trisura Group Ltd. has reported net income of $10.9 million for the fourth-quarter and income of $32.4 million for the full-year, representing growth of 162.4% and 536.9%, respectively, from the same periods in 2019. The company attributes the higher figures to strong growth and underwriting in Canada, a growing contribution to ... Read the full article
Zurich’s profit falls 20% on COVID-19 and catastrophes
11th February 2021
The impacts of the COVID-19 pandemic and higher catastrophe losses pushed down Zurich's business operating profit (BOP) by 20% to $4.2 billion in 2020, while net income fell by 8% to more than $3.8 billion. For the year, Zurich has reported a COVID-19-related impact of $852 million, which includes $450 million ... Read the full article
IAG falls to half-year loss despite reinsurance recoveries
10th February 2021
Australian insurer IAG has fallen to a half-year loss of $460 million despite recovering $90 million of catastrophe costs under its aggregate reinsurance cover. The company’s loss over the H1 2021 period compares with a return of $283 million for the same period in the previous year. However, IAG’s insurance profit actually ... Read the full article
Watford’s underwriting loss narrows, as investments drive profit
10th February 2021
Bermuda domiciled re/insurance company Watford Holdings has reported net income of $61.4 million for the fourth quarter of 2020, compared with a net loss of $16.9 million for the same period in the previous year. This was despite recording an underwriting loss of $9.1 million for the period, which was nevertheless ... Read the full article
Lancashire sees GWP rise 15.2% to $814mn in 2020
10th February 2021
Specialty re/insurance underwriter Lancashire saw gross premiums written increase by 15.2% year on year to $814.1 million in 2020. Meanwhile the firm’s combined ratio was confirmed at 107.8%, a figure which included the impact of COVID-19. Overall profit after tax was $4.2 million while Lancashire’s investment portfolio generated returns of 3.9% for ... Read the full article
Arch reports spike in Q4 net income to $533mn
10th February 2021
Bermuda domiciled Arch Capital Group, Ltd. has reported an increase in net income to $533.1 million for the fourth-quarter of 2020, as the performance of its reinsurance and mortgage segments more than offset an underwriting loss in the firm's insurance unit. Net income increased by 69% from the same period in ... Read the full article
Everest Re net income falls to $64mn in Q4
9th February 2021
Everest Re Group has seen its fourth quarter net income fall to $64 million, a drop from the $217 million announced in the prior year quarter. This drop is largely due to a prior year reserve strengthening hit of $400 million as well as catastrophe losses of $70 million. COVID-19 losses were ... Read the full article
Storms erode Suncorp’s reinsurance deductible by 55%
9th February 2021
Australian primary insurance giant Suncorp has announced that, while it has not driven any reinsurance recoveries, catastrophe losses across the first half of its financial year eroded the aggregate deductible in several reinsurance treaties, including the aggregate excess of loss treaty. Total costs from the cat events across Australia and New ... Read the full article
B.P. Marsh income shrinks as COVID hits investments
9th February 2021
Venture capital provider B.P. Marsh has reported that its income for 2020 shrank by 15% due to the impact of COVID-19 on its investment portfolio. Its portfolio companies responded to the pandemic by maximizing liquidity, although the group’s underlying profit is expected to remain in line with the prior year’s £0.8 ... Read the full article
RGA reports dip in Q4 net income; $300mn of COVID-19 claims
9th February 2021
Life reinsurer Reinsurance Group of America, Incorporated (RGA) has reported net income of $132 million for the fourth-quarter of 2020 and consolidated net premiums of $3.3 billion for the period. Net income declined for the reinsurer from the $235 million reported in Q4 2019, while net premiums increased by 9% for ... Read the full article
CNA reports record core income as catastrophe losses fade
8th February 2021
CNA Financial has reported net income of $387 million for the fourth-quarter of 2020 and record core income of $335 million for the period, aided in part by an improved property & casualty (P&C) performance as catastrophe losses fell. Net income climbed $114 million from Q4 2019, while core income increased ... Read the full article
Talanx announces FY20 income of €673mn as COVID claims hit €1.5bn
8th February 2021
Talanx, the parent of major reinsurance company Hannover Re, has announced that, based on preliminary unaudited consolidated figures, it has produced Group net income of €673 million (USD 809mn) for 2020. The company notes that this is in spite of COVID-19 claims of an estimated €1.5 billion (USD 1.8bn) for the ... Read the full article
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