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.
White Mountains revenue surges in Q4 as Ark “hits ground running”
8th February 2021
Bermuda domiciled financial services holding company White Mountains Insurance Group has reported an almost 200% increase in revenue for the fourth quarter of 2020. The company recorded total revenue of $520.8 million in Q4 2020, up from $175.3 million for the same period in the previous year. Looking at the full year, ... Read the full article
Aon reports organic reinsurance revenue growth of 12%
5th February 2021
Re/insurance broker Aon has reported organic revenue growth of 12% in its Reinsurance Solutions division during the fourth quarter of 2020. The Reinsurance Solutions business posted revenue of $197 million in Q4 2020, which was 5% up on the $187 million it recorded for the same period in 2019. And the high ... Read the full article
The Hartford’s net income falls slightly on COVID, A&E reserve charge
5th February 2021
Property and casualty insurer The Hartford has reported a decline in net income to $532 million for the fourth-quarter of 2020, driven by excess mortality in group life as a result of COVID-19 and a charge for asbestos and environmental (A&E) reserve development. Q4 2020 net income fell by 2% when ... Read the full article
Prudential Q4 income falls to $819m as company posts $374m loss for 2020
5th February 2021
Prudential has reported a fourth quarter 2020 net income of $819 million, down from the $1.128 billion achieved in the prior year quarter. Net income in the current quarter included $1.2 billion of pre-tax net realized investment losses and related charges and adjustments, driven by losses on derivatives, and also includes ... Read the full article
Beazley’s combined ratio deteriorates to 109% on COVID & ransomware
5th February 2021
Beazley has reported that its combined ratio deteriorated to 109% in 2020 on the back of first-party COVID-19 losses and elevated ransomware reserves, as the firm announces a loss before tax of $50.4 million for the year. The more than $50 million loss for the period compares with profit before tax ... Read the full article
American Financial Group grows Q4 earnings
4th February 2021
American Financial Group (AFG) has reported net earnings of $692 million for the fourth quarter of 2020, compared to $211 million for the same period in 2019. Q4 earnings included $468 million in realized gains, most of which relate to a transfer of investments associated with AFG’s previously announced annuity block ... Read the full article
The Hanover reports higher net income, improved combined ratio in Q4
4th February 2021
The Hanover Insurance Group, Inc. has reported a rise in net income for the fourth-quarter of 2020 to $164.6 million, while operating income also improved in the period, year-on-year, to $112 million. The difference in Q4 net and operating income, which grew by $54.8 million and $31.8 million, respectively, was primarily ... Read the full article
Hannover Re reports average price increase of 5.5% at Jan 1st renewals
4th February 2021
Reinsurer Hannover Re has reported an average price increase of 5.5% on renewed business at the January 1st, 2021 renewals, as the firm booked premium growth in traditional property and casualty reinsurance of 8.5%. According to Hannover Re, the pricing trend witnessed at 1/1 was driven by the substantial burden of ... Read the full article
Markel income drops by $1bn on investment hit
3rd February 2021
Financial holding company Markel Corporation has reported a $1 billion drop in its net income for 2020, which stood at $797.6 million at the end of the year, versus $1.790 billion in 2019. The difference is almost entirely attributable to a corresponding $1 billion drop in net investment gains, which totaled ... Read the full article
Chubb’s Q4 net income rises to $2.42bn
3rd February 2021
Global re/insurer Chubb has reported a 2020 fourth quarter net income of $2.42 billion, up from $1.17 billion in the prior year quarter. Meanwhile, core operating income was $1.44 billion versus $1.04 billion prior year. Q4 pre-tax catastrophe losses were $314 million compared with $430 million in the prior year period. P&C underwriting ... Read the full article
Kemper’s Q4 income slumps to $98mn
2nd February 2021
US insurer Kemper has reported that it’s net income in the fourth quarter of 2020 was $97.5 million, representing a 22% decrease on the $124.7 million it reported for the same period in 2019. Looking at the full year, Kemper’s 2020 income similarly dropped 23% from $531.1 million to $409.9 million. The ... Read the full article
Kingstone reports $1.2mn Q4 cat loss, names Scott Van Pelt CFO
2nd February 2021
Property and casualty insurer Kingstone incurred net pre-tax catastrophe losses of $1.2 million in the fourth quarter of 2020. Cat losses for the quarter comprised four events at an estimated gross cost of $1.5 million. The company has also appointed Scott Van Pelt to its senior management team as Chief Financial Officer. Van ... Read the full article
Gallagher reports $153mn Q4 net earnings
29th January 2021
Re/insurance broker Arthur J. Gallagher & Co. has reported fourth quarter net earnings of $153.1 million, up from $105.6 million in the prior year quarter. The company's brokerage segment also saw a rise during the final quarter of 2020, reaching $157.7 million against $118.7 million. For the full year, Gallagher's reported net ... Read the full article
Selective increases Q4 revenue by 10%
29th January 2021
Selective Insurance has reported total revenue of $798.4 million during the fourth quarter of 2020, representing a 10% increase on the same period in the previous year. Looking at the whole of 2020, Selective’s revenues were similarly up 3% to $2.92 billion. The company also recorded 8% growth in net premiums written ... Read the full article
Guy Carpenter growth buoys Marsh & McLennan results
28th January 2021
Marsh & McLennan Companies, Inc. (MMC) has reported full-year revenue growth of 3% over 2020, helped by revenue growth of 7% in its reinsurance broking arm, Guy Carpenter. MMC’s revenue for Q4 was $4.4 billion, bringing its total for the year to $17.2 billion. This compares with revenue of $4.3 billion ... Read the full article
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