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.
AIG UK reports 2019 pre-tax profit of £186.4mn, CR hits 96.4%
12th May 2020
AIG UK, a division of American International Group Limited (AIG), has reported a pre-tax profit of £186.4 million in 2019, its first full operational year. In 2018, AIG restructured AIG Europe Limited (AEL) and established two legal entities, AIG UK and AIG Europe SA, in response to the UK's Brexit ... Read the full article
White Mountains reports $132 million Q1 loss
11th May 2020
White Mountains Insurance Group, Ltd. has reported a loss of $132 million for the first-quarter of 2020, driven by net realised and unrealised investment losses. At a loss of $132 million, White Mountains' overall result in Q1 2020 declined from income of $284 million in the same period in the previous ... Read the full article
Athene reports Q1 loss, sees COVID-19 mark-to-market impacts as transitory
11th May 2020
Athene Holding Ltd. has reported a net loss of $1.1 billion for the first-quarter of 2020, primarily as a result of a decline in the fair value of reinsurance assets due to COVID-19-induced widening credit spreads. A net loss of $1.1 billion compares with net income of $708 million recorded in ... Read the full article
Investment challenges push down HCI’s Q1 net income to $0.5 million
11th May 2020
HCI Group has reported that its first-quarter 2020 net income declined to $0.5 million as the company experienced $4.8 million of net unrealised losses on equity securities, $2.2 million of net realised losses on investment sales, and $3 million of reductions in the estimated value of limited partnership investments. The company ... Read the full article
Argo driven to Q1 loss by Covid-19 pandemic claims
8th May 2020
Argo Group International Holdings, Ltd., the Bermuda based insurance and reinsurance company, fell to a first-quarter loss to start the year, as claims from the Covid-19 pandemic dented its performance. Argo has reported a net loss of $18.8 million for the first-quarter of 2020, but having suffered $26.2 million of claims ... Read the full article
Third Point Re delivers underwriting profit, but Covid-19 hits investments
8th May 2020
Bermuda headquartered Third Point Re, the reinsurer linked to hedge fund manager Daniel Loeb, delivered an underwriting profit in the first quarter of this year, but fell to a net loss due to the Covid-19 pandemic effects on its investment portfolio. Third Point Re appears to have turned a corner in ... Read the full article
Turbulent investment landscape pushes PartnerRe to $433mn Q1 loss
8th May 2020
Bermuda-based reinsurer PartnerRe has announced a net loss of $433 million for the first-quarter of 2020, as COVID-19-induced financial market volatility and fading equity markets significantly impacted the company's investments in the period. PartnerRe's Q1 2020 net loss compares with net income of $497 million a year earlier, and includes net ... Read the full article
Enstar posts $516.8mn Q1 loss as COVID-19 dents investment portfolio
8th May 2020
Enstar Group Limited recently announced a net loss of almost $517 million for the opening quarter of 2020, driven by $612.6 million of unrealised investment losses owing to COVID-19 related financial market turmoil. Enstar's sizeable Q1 2020 net loss compares with net earnings of $358.8 million reported in the first-quarter of ... Read the full article
Occam Underwriting posts £1mn profit in 2019
7th May 2020
Specialty Lloyd’s of London managing general agent (MGA) Occam Underwriting has reported a £1 million profit after tax for 2019, compared to a loss after tax of £1.25 million for 2018. All three of Occam’s business units – Cyber, Energy and Space – saw strong growth over the year, allowing the ... Read the full article
Trisura grows income, prepares for COVID-19 impact in Q2
7th May 2020
Trisura Group, an international specialty provider of surety, risk solutions, corporate insurance and reinsurance products, has grown its net income to $8.4 million for the first quarter of 2020. The result was an improvement on the $2.5 million posted in Q1 2019, driven by strong underwriting performance and investment income in ... Read the full article
Talanx reports €313mn COVID-19 related losses in Q1
7th May 2020
Hannover Re parent Talanx has announced first quarter coronavirus-related large losses of €313 million. The coronavirus crisis impacted both underwriting and investments in the first quarter of the new financial year. Large losses in primary insurance and reinsurance rose from €137 million in the same period of the previous year to €435 ... Read the full article
United Insurance falls to $12.7mn loss in Q1
7th May 2020
Property and casualty insurance holding company United Insurance Holdings has reported a $12.7 million net loss for the quarter, down from a net income of $9.5 million in the opening three months of 2019. This decrease was primarily due to unrealised losses on equity securities compared to unrealised gains in the ... Read the full article
RSA reports £25mn COVID-19 claims in Q1
7th May 2020
Multinational insurance group RSA has released its results for the first quarter of 2020, which include around £25 million of claims related to the COVID-19 pandemic, net of reinsurance. In total, the company registered 25,000 claims linked to COVID-19 that have coverage and will pay out, of which about 23,000 are ... Read the full article
RenRe’s casualty & specialty unit reports Q1 underwriting loss on COVID-19
7th May 2020
Bermuda-based insurer and reinsurer RenaissanceRe Holdings Ltd. (RenRe) has fallen to a net loss of $82 million in the first-quarter of 2020, as the ongoing COVID-19 pandemic adversely impacted its net investment result and the performance of its Casualty and Specialty segment. A net loss of $82 million in Q1 2020 ... Read the full article
COVID-19 sees Everest Re’s Q1 profits plunge $338mn
7th May 2020
Global re/insurer Everest Re Group has reported a net income for the first quarter of $16.6 million, down from $354.6 million in the prior year quarter. After-tax operating income for the quarter was $164.4 million, compared to $282.4 million in 2019. Much like with other players in the re/insurance space, COVID-19 related ... Read the full article
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