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.
Suncorp expecting broadly neutral COVID-19 impact across first half of FY
17th November 2020
The impact of COVID-19 across Suncorp’s general insurance portfolio is expected to be broadly neutral for the first half of the 2021 financial year. Impacts during this period include an assessment for potential business interruption (BI) claims from the second Victorian lockdown. Additionally, temporary short- term reductions in motor claims frequency, continued ... Read the full article
BRP Group falls to a $6.6mn Q3 operating loss
13th November 2020
Independent insurance distribution firm BRP Group has reported a $6.6 million operating loss for the third quarter, having registered a $1.4 million profit in the prior year period. The group also registered a $7.6 million net loss for the quarter, a drop from the $2.3 million loss reported during the same ... Read the full article
Non-life performance helps Ageas to solid Q3 results
13th November 2020
Personal and commercial insurer Ageas has reported a Group net result of €203 million for the third quarter of 2020, driven by strong performance in its non-life business. Looking at the first nine months of the year, the net result stands at €994 million, to a large extent supported by the ... Read the full article
IGI improves Q3 profit, grows reinsurance premiums
13th November 2020
Specialist commercial insurance and reinsurer International General Insurance Holdings Ltd. (IGI) improved its profit to $9.5 million for the third quarter of 2020, compared with $4.3 million for the same period last year. For the first nine months of the year, profit was also up slightly to $20.7 million, from $19.2 ... Read the full article
Generali’s net profit dips 40% but operating result spikes on P&C improvement
13th November 2020
Generali has reported a 40% decline in Group net profit for the first nine months of the year to approximately €1.3 billion, while gross written premiums (GWP) increased slightly, year-on-year, to roughly €52 billion. The Group's net profit was impacted by €310 million in net impairments on investments related to the ... Read the full article
Lemonade reports $30.9 million net loss in Q3 2020
12th November 2020
Insurtech start-up Lemonade has reported a net loss of $30.9 million for the third quarter of 2020, representing a mild improvement when compared to a net loss of $31.1 million for the same period last year. The company also announced its in force premium doubled year-on-year, while gross profit increased 83%, ... Read the full article
Talanx falls to €1.97bn underwriting loss as COVID claims exceed €1bn
12th November 2020
Talanx, the parent of reinsurer Hannover Re, has reported that its underwriting result declined by more than 50% in the first nine months of the year to a loss of €1.97 billion, as the company exceeded its large losses budget as a result of substantial COVID-19-related claims. Overall, 9M 2020 losses ... Read the full article
Zurich reports 3% rise in P&C premiums; unchanged COVID-related claims
12th November 2020
Global insurer Zurich has reported a 3% rise in property and casualty (P&C) gross written premiums (GWP) for the first nine months of 2020 to $27.3 billion, while P&C COVID-19-related claims are reportedly unchanged at roughly $450 million. GWP growth in P&C during the period was driven by 9% growth in ... Read the full article
Cat losses push Palomar to Q3 net loss
11th November 2020
California-based insurance holding company Palomar has reported a net loss of $15.7 million for the third quarter of 2020, driven by the active US hurricane season. This compares with a net income of $7.5 million for the same period last year. Palomar had previously warned ahead of an estimated $38 million ... Read the full article
Global Indemnity posts $15.2mn Q3 net loss
10th November 2020
Property and casualty insurer Global Indemnity has reported a net loss of $15.2 million for the third quarter, against an income of $6.7 million in the same period last year. Global Indemnity recorded a combined ratio of 107.2% (Loss Ratio 69.2% and Expense Ratio 38.0%) as against its 95.2% (Loss Ratio 55.2% ... Read the full article
Berkshire reports 9M 2020 P&C reinsurance underwriting loss
9th November 2020
Warren Buffett’s Berkshire Hathaway has reported a P&C reinsurance pre-tax underwriting loss of $706 million for the first nine months of 2020 against a gain of $472 million a year earlier, as loss and loss adjustment expenses increased by 48% to $2.4 billion. The elevated level of catastrophe losses during the ... Read the full article
Enstar earnings jump in Q3
6th November 2020
Legacy acquirer Enstar Group Limited has reported that its consolidated net earnings amounted to $615.0 million in the third quarter of 2020. This represents a major jump up from last year, when the company reported earnings of $117.7 million for the third quarter period. Looking at the first nine months of the ... Read the full article
Allianz sees net income rise 6% in Q3
6th November 2020
Global insurer Allianz has reported a net income of €2.1 billion for the third quarter, up an impressive 5.9% from the prior year period. This elevated net income was due to a higher non-operating investment result and was partly offset by higher restructuring and integration expenses. Total revenues decreased 6.1% to €31.4 ... Read the full article
Unprecedented storms drive record quarterly loss at United (UPC)
6th November 2020
United Insurance Holdings Corp. (UPC) has announced a net loss of $74.1 million for the third-quarter of 2020, as its loss ratio increased significantly to 115.8% on the back of quarterly catastrophe losses of $140 million. The record quarterly loss of $74.1 million compares with a loss of $28.3 million for ... Read the full article
RGA’s Q3 income falls to $213mn
6th November 2020
Life reinsurer RGA has reported a third quarter net income of $213 million, compared with $263 million in the prior-year quarter. Adjusted operating income totaled $239 million compared with $256 million the year before. Consolidated net premiums totaled $2.8 billion, an increase of 1% over last year’s third quarter, with a favorable ... 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.
