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.
W.R. Berkley reports $114m Q4 underwriting profit, 9% rate rises
29th January 2020
Re/insurance holding company W.R. Berkley Corporation saw its fourth quarter underwriting income increase 71.1% against the prior year quarter to $114.7 million, while average rate increases excluding workers' compensation were approximately 9%. The company noted that, as rate increases remain robust, it expects continued opportunities to grow the top line. Gross and ... Read the full article
Swiss Re to exceed large loss budget, FY19E income revised down: JP Morgan
28th January 2020
A "noisy" period for catastrophe events is expected to see global reinsurance giant Swiss Re exceed its large losses budget in both Q4 and full-year 2019, which, combined with other factors has seen analysts at JP Morgan reduce their full-year 2019 net income for the reinsurer by 20%. The Switzerland-based reinsurer ... Read the full article
Brown & Brown’s organic revenues up in Q4 & full-year 2019
28th January 2020
Insurance brokerage Brown & Brown, Inc. has reported an increase in revenues for both the fourth-quarter and full-year 2019, of $579 million and $2.4 billion, respectively. Reported revenues are under U.S. generally accepted accounting principles (GAAP) and represent growth of 13.8% and 18.8% for Q4 and the full-year, respectively, when compared ... Read the full article
Drop in cat-related insured losses dent Crawford’s Q4 results
27th January 2020
Crawford & Company, a provider of claims management solutions, saw lower overall claims volume, due in part by a significant drop in global catastrophe-related insured losses, result in lower than expected revenues for fourth quarter 2019. Harsha V. Agadi, president and Chief Executive Officer of the firm, also highlighted the effect ... Read the full article
Reserve release boosts RLI to $16.5m Q4 underwriting income
23rd January 2020
US property and casualty (P&C) insurer RLI has beniftted from a $16.2 million reserve release in the fourth quarter of 2019. This reserve release largely accounts for RLI’s reported Q4 underwriting income of $16.5 million, a $2.8 million increase from the previous quarter. RLI posted a 92.4 combined ratio, compared to a ... Read the full article
Travelers net income rises but underlying combined ratio weakens in Q4
23rd January 2020
Travelers has reported a 41% rise in net income to $873 million for the fourth-quarter of 2019 while its underlying combined ratio weakened slightly to 92.1%, when compared with the same period in 2018. The insurer's net income jumped significantly in Q4 from the $621 million reported a year earlier, while ... Read the full article
Hyperion posts 11% organic growth in 2019
21st January 2020
Hyperion Insurance Group Limited has reported revenue of £725 million (USD 943 million) for the year ended 30th September, 2019, and 11% organic growth. The company has noted that it closed the financial year with strong performances across all business segments, which helped it record an 11% jump in revenue when ... Read the full article
AXIS to report modest Q4 income amid catastrophes and Irma creep
21st January 2020
Bermuda domiciled insurer and reinsurer, AXIS Capital Holdings Limited, expects to report modest operating income for the fourth-quarter of 2019, driven in part by pre-tax catastrophe losses of $140 million. The firm's Q4 2019 results were impacted by a pre-tax loss for catastrophes and other weather-related events of $140 million, net ... Read the full article
US P&C reinsurers return to underwriting profitability: RAA
27th November 2019
A group of 17 U.S. property/casualty (P&C) reinsurers recorded an improved combined ratio of 96.2% for the first nine months of 2019, driven by improvements in both the expense ratio and loss ratio when compared with the same period in 2018, according to analysis by the Reinsurance Association of America ... Read the full article
Munich Re expecting hit from Hagibis, but confident in targets
27th November 2019
Reports suggest that Munich Re is expecting to incur a large financial hit in Q4 from Typhoon Hagibis and other catastrophe events, but has nevertheless grown more confident that it will meet its targets for the year, as well as in 2020. Speaking at a press event in Munich on Monday, ... Read the full article
IGI grows top line in Q3, improves rates across specialty classes
20th November 2019
International General Insurance Holdings Company (IGI) grew its gross written premiums to $74 million in the third quarter of 2019, and saw premium rate increases across various specialty classes of business. Premiums were up 16% on the same period in 2018, when the company reported gross written premiums of $64 million. Rates ... Read the full article
Sompo International profits hit by large losses in H1
19th November 2019
Bermuda-based property and casualty re/insurer, Sompo International, increased its profits only marginally during the first half of the 2019 fiscal year, due to the impact of large losses on the business. The company, which represents part of the overseas operations of Japanese re/insurer Sompo Holdings, posted a profit of US $190 ... Read the full article
Helios Underwriting announces syndicate capacity forecasts
18th November 2019
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2017 and 2018 years of account, based on 3rd quarter 2019 estimates. The company, which acquires and consolidates private underwriting capacity at Lloyd's, recorded a capacity position ... Read the full article
Maiden posts $58.3m Q3 net loss
13th November 2019
Maiden Holdings has reported a $58.3 million net loss for the third quarter, an improvement from the $308.8 million hit in the prior year quarter. Maiden says this improvement was driven in part by a reduced underwriting loss from lower adverse prior year loss development incurred, primarily within AmTrust Reinsurance segment, ... Read the full article
Improvements to Tokio Marine Kiln syndicates on back year releases
11th November 2019
The latest Lloyd's of London syndicate results and forecasts from Tokio Marine Kiln (TMK) reveals improvements to Syndicates 510 and 557 for the 2017 Year of Account. Improvements to both Syndicate 510 and 557 for the 2017 Year of Account was driven by back year releases, says TMK. Starting with the 2017 ... Read the full article
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