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.
Arch Capital sees Q1 net income fall $304mn
5th May 2020
Bermuda-based re/insurer Arch Capital Group saw its net income fall by $304 million to $133.7 million in the first quarter. After-tax operating income for the quarter was estimated at $189.8 million, compared to $275.9 million in the prior year quarter. Pre-tax current accident year catastrophic losses, net of reinsurance and reinstatement premiums ... Read the full article
AIG’s GI segment falls to underwriting loss on $272m COVID-19 hit
5th May 2020
American International Group, Inc. (AIG) has reported an underwriting loss of $87 million within its General Insurance segment in Q1, which includes $272 million of estimated COVID-19 related losses. Despite the firm's General Insurance unit falling to an underwriting loss in the quarter, net investment income of $588 million more than ... Read the full article
Mercury General falls to $139mn loss in Q1
5th May 2020
Mercury General Corporation, a Los Angeles-based multi-line insurer, has posted a net loss of $139.2 million during the first quarter of 2020, driven by COVID-19 induced volatility in the financial markets. The result compares with a net income of $135.9 million for the same period in the previous year. Performance was weighed ... Read the full article
CNA posts $61mn Q1 net loss
4th May 2020
US commercial property and casualty insurer CNA has announced a first quarter 2020 net loss of $61 million, driven by market volatility created by COVID-19. CNA also revealed net investment losses of $169 million and a decrease in net investment income to $279 million, reflecting stable earnings from fixed income and ... Read the full article
Peak Re reports higher profit & premium income in “balanced” 2019
4th May 2020
Hong Kong-based reinsurer Peak Re has reported a year-on-year rise in net profit in 2019 to USD 35 million, despite the impacts of frequent natural catastrophe events and market volatility. Net profit for the full-year improved on the $19.5 million recorded in 2018, with a strong performance recorded in both its ... Read the full article
Berkshire Hathaway reports $489m Q1 reinsurance loss, $55.5bn investment loss
2nd May 2020
Warren Buffett's conglomerate Berkshire Hathaway reported first-quarter losses to its primary insurance and reinsurance businesses, in part due to the impacts of the Covid-19 coronavirus pandemic. But the enormous largely unrealised investment loss of $55.5 billion for the first-quarter of 2020 overshadows all else in the Berkshire Hathaway results today. Berkshire Hathaway ... Read the full article
Aon reports organic reinsurance revenue growth of 9%
1st May 2020
Re/insurance broker Aon has reported overall revenue growth of 2% to $3.2 billion in the first quarter of 2020, including organic revenue growth of 5%. The result was supported by organic revenue growth of 9% in its Reinsurance Solutions division, the strongest growth of all Aon segments, but still slightly down ... Read the full article
Market disruption dents Kinsale Q1 income
1st May 2020
Kinsale Capital Group, Inc. has reported net income of $5.1 million for the first quarter of 2020, as results were hit by COVID-19 induced volatility in the financial markets. This compares with income of $18.7 million during the same period last year, with Kinsale attributing the 72.8% drop to a decline ... Read the full article
$1.5bn COVID-19 investment hit dents solid Q1 for Fairfax
1st May 2020
Re/insurance holding company Fairfax Financial has reported a $1.2 billion first quarter net loss, driven primarily by COVID-19 related unrealised losses on investments. Despite significant net investment losses, the total of which stands at $1.5 billion for the quarter, Fairfax’s underwriting performance was strong, with its 96.8% re/insurance operations combined ratio ... Read the full article
CCR dedicates 2019 net income to state-backed credit re/insurance scheme
1st May 2020
State-backed reinsurer CCR has reported net income of €67 million for 2019, all of which the firm has dedicated to the recently launched state-guaranteed COVID-19 reinsurance scheme designed to support the country's SMEs by covering credit insurance risks. At €67 million, net income declined from the €147 million reported a year ... Read the full article
Market volatility pushes James River to Q1 loss
30th April 2020
James River Group Holdings, the Bermuda-based insurance holdings company, has posted a loss of $36.8 million for the first quarter of 2020 due to investment market volatility caused by the COVID-19 pandemic. Income was down from $22.7 million in Q1 2019, with results weighed down in particular by a portfolio of ... Read the full article
WTW grows organic revenue 4% in Q1, withdraws 2020 guidance
30th April 2020
Global re/insurance broker Willis Towers Watson saw organic revenue hit 4% in the first quarter, while also announcing its decision to withdraw 2020 guidance over ongoing coronavirus fears. It was ultimately decided that WTW should reassess at a future date when it has a clearer understanding of the depth, duration, and ... Read the full article
Marsh & McLennan grows Q1 income, helped by Guy Carpenter
30th April 2020
Marsh & McLennan Companies, Inc. (MMC) has reported a 5% increase in net income during the first quarter of 2020, despite pressure from the coronavirus (COVID-19) pandemic. Income stood at $754 million at the end of Q1, compared with $716 million for the same period last year. Consolidated revenue similarly increase ... Read the full article
The Hartford income drops 57% as COVID-19 hits investments
30th April 2020
Property and casualty insurer The Hartford has reported a 57% decrease in net income during the first quarter of 2020, primarily due to the impact of the coronavirus (COVID-19) pandemic on its investment portfolio. Net income came to $268 million in Q1, compared with $625 million for the same period last ... Read the full article
Lancashire puts COVID-19 claims at $35mn for Q1, reports higher GPW
30th April 2020
Lancashire Holdings Limited has announced an estimated $35 million of COVID-19 claims for the first-quarter of 2020, while gross premiums written (GPW) jumped by almost 12% year-on-year to $242.8 million. The London-listed insurer and reinsurer has established a reserve of approximately $35 million of losses, net of reinsurance and reinstatement premiums, ... Read the full article
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