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’s H1 combined ratio jumps to 106.9%
29th July 2020
Specialty re/insurer Lancashire Holdings saw its combined ratio for the first half of 2020 jump to 106.9%, up from 86.6% in H1 2019. The group’s COVID-19 ultimate loss estimate, net of reinsurance and reinstatement premiums, amounted to approximately $42 million. This arose primarily from exposures within its property segment. Prior year unfavourable development ... Read the full article
Markel income up 75% as investment gains recover
29th July 2020
Markel Corporation has reported that its comprehensive income increased by 75% to $1.09 billion in the second quarter of 2020, as investment gains recovered following an initial Q1 COVID-19 shock. Comprehensive income was up from $623.3 million in Q2 2019, and the company’s combined ratio similarly improved from 95% to 88%. Net ... Read the full article
RenRe improves Q2 income, reports further capital raise
29th July 2020
Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported an improved net income of $575.8 million in the second quarter of 2020, while also disclosing a further capital raise of $250 million through its managed joint ventures and third-party capital vehicles. Net income increased from $367.9 million in Q2 2019, although ... Read the full article
PartnerRe reports H1 net loss as COVID-19 impact hits $338 million
29th July 2020
Bermuda-based reinsurer PartnerRe has reported a net loss of $204 million for the first-half of the year, as the firm booked $338 million of pre-tax losses, net of retrocession and reinstatement premiums, as a direct result of the COVID-19 pandemic. The firm's H1 2020 net loss includes net realised and unrealised ... Read the full article
Donegal posts robust Q2 results as net income hits $22.7mn
28th July 2020
US primary holding company Donegal Group posted a net income of $22.7 million for the second quarter of 2020, compared to $4.8 million in the prior year quarter. Kevin G. Burke, President and Chief Executive Officer of Donegal Group, attributed this improvement to a continuation of the solid underwriting performance reported ... Read the full article
Cincinnati Financial CR deteriorates to 103.1% in Q2
28th July 2020
Cincinnati Financial Corporation has reported that its combined ratio deteriorated to 103.1% during the second quarter of 2020 following $231 million of catastrophe losses. Elevated catastrophe losses, plus $65 million of pandemic related loss and expense effects, meant the company finished the quarter with an underwriting loss of $41 million. The ... Read the full article
Brown & Brown’s Q2 net income up 4.5% to $96.8mn
28th July 2020
Insurance brokerage Brown & Brown, Inc. has reported a 4.5% rise in net income in the second-quarter of 2020 to $96.8 million, while organic revenue increased by 0.5% in the period. Overall, the broker has reported revenues of $598.8 million in the second-quarter of 2020, which is a jump of $23.6 ... Read the full article
QIC increases GWP 13% in H1 off market hardening
27th July 2020
Qatar Insurance Company (QIC), the Middle East and North Africa (MENA) focused insurer, experienced a 13% growth in Gross Written Premium in the first half of 2020, reaching QAR 7.2 billion ($1.9 billion). This growth was predominately driven by the rate hardening in select international insurance markets and continued expansion of QIC’s ... Read the full article
COVID-19 drives 27% drop in MAPFRE’s H1 earnings
27th July 2020
Spanish insurer MAPFRE saw it's earnings for the first half of 2020 drop 27.1% from the previous year to €271 million due to COVID-19 claims recorded in its reinsurance unit. Reinsurance losses in H1 reached €86.5 million, €76.5 million of which correspond to business interruption coverage. Alongside this, earthquakes in Puerto Rico ... Read the full article
SCOR selectively grows reinsurance book at mid-year renewals
24th July 2020
Global insurer and reinsurer SCOR's gross reinsurance premiums grew 1.3% from €708 million to €717 million at the mid-year renewals, as the company took advantage of continued market hardening. The re/insurer notes "strong price growth momentum," reporting overall 8.2% price increases across its renewal book at the mid-year, with improvements materialising ... Read the full article
CoreLogic’s Q2 organic revenue up 5% as firm sees $15mn COVID-19 impact
24th July 2020
Risk modelling firm CoreLogic has announced a 4% increase in reported revenues to $477 million in the second-quarter of 2020, and organic revenue growth of roughly 5%, up over 2% from the previous quarter. CoreLogic states that revenues were actually up by 15% once normalised for $28 million of second-quarter 2019 ... Read the full article
IAG enhances reinsurance use; CEO notes “immensely challenging” six months
24th July 2020
Australian insurer IAG has further strengthened its overall reinsurance position with the purchase of a new aggregate catastrophe reinsurance cover and a stop-loss protection for retained natural perils. The company has provided an update on its results for the fiscal year ended June 30th, 2020 and also offered some insights into ... Read the full article
Everest Re pegs Q2 COVID-19 losses at $160mn
24th July 2020
Bermuda-based reinsurer Everest Re Group, Ltd. has reported losses related to the COVID-19 pandemic of $160 million in the second-quarter of 2020, taking the firm's total hit from the ongoing crisis to $310 million. The reinsurer states that of its total Q2 2020 pandemic hit, $130 million is allocated to its ... Read the full article
RLI posts $92mn Q2 earnings, 88.4% combined ratio
23rd July 2020
US property and casualty insurer RLI has reported second quarter net earnings of $92.2 million, compared to $40.5 million for Q2 2019. Operating earning for the quarter were $34.8 million, compared to $29.7 million for the same period in 2019. RLI achieved $24.2 million of underwriting income on an 88.4% combined ratio, compared ... Read the full article
Travelers reports $40mn Q2 net loss as catastrophe hit rises to $854mn
23rd July 2020
The Travelers Companies, Inc. has fallen to a net loss of $40 million for the second-quarter of 2020 as catastrophe losses spiked to $854 million (pre-tax) and net investment income declined year-on-year. The insurer's Q2 net loss of $40 million compares with net income of $557 million in the same period ... Read the full article
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