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.
Beazley’s Q1 Covid-19 losses hit $170m, premiums jump 13%
22nd April 2020
Beazley, the specialist Lloyd's focused insurer and reinsurer, has estimated that the total claims from the ongoing COVID-19 pandemic on its first-party business stands at USD 170 million, net of reinsurance, the majority of which is across its marine, property and reinsurance divisions. The specialist re/insurer has released its trading statement ... Read the full article
Hannover Re withdraws 2020 profit guidance on COVID-19 pandemic
22nd April 2020
Global reinsurance giant Hannover Re has withdrawn its profit guidance for 2020 in light of the ongoing COVID-19 coronavirus pandemic and related uncertainty surrounding claims and the capital market landscape. The German reinsurer states that its first-quarter 2020 results were not significantly impacted by the global spread of the coronavirus as ... Read the full article
Travelers’ Q1 underwriting result dented by higher cat losses & COVID-19
21st April 2020
The Travelers Companies, Inc. has reported a year-on-year decline in net income to USD 600 million for the first-quarter of 2020, as elevated catastrophe losses and charges related to the ongoing COVID-19 coronavirus pandemic dented the insurer's underwriting performance in the period. Net income fell by almost USD 200 million when ... Read the full article
Truist grows Q1 income, reserves $893mn for COVID-19
20th April 2020
Truist Financial Corp. grew its income by 31.6% to $986 million during the first quarter of 2020, despite merger-related and restructuring charges as well as "discretionary actions" related to the coronavirus (COVID-19) pandemic. The company also added $893 million to its reserves during the quarter to address expected future losses related ... Read the full article
Q1 results to see lighter catastrophe load, auto frequency benefits: MS
20th April 2020
Analysts at Morgan Stanley have lowered catastrophe loss estimates for both U.S. primary insurers and reinsurers ahead of Q1 2020 results season, driven in part by lower-than-expected U.S. spring storm activity. Unsurprisingly, the focus of first-quarter 2020 results is expected to be the ongoing COVID-19 coronavirus pandemic, but a reduction in ... Read the full article
Arch sees Q1 COVID-19 losses at up to $145m across P/C & mortgage
16th April 2020
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has announced estimated pre-tax losses of up to $95 million across its property casualty insurance and reinsurance segments, and losses of up to $50 million in its mortgage segment, as a result of the impacts of the COVID-19 pandemic. Arch has underlined the ... Read the full article
COVID-19 impact on U.S. insurers’ Q1 underwriting to be limited, says S&P
16th April 2020
With global insurers and reinsurers soon to announce their first-quarter 2020 results, analysts at S&P Global Ratings expect the impacts of the COVID-19 pandemic to hit the earnings of U.S. life, health, and property/casualty (P/C) insurers. Overall, analysts expect that the investment performance of U.S. insurers will take more of a ... Read the full article
China Re’s overseas P&C reinsurance segment boosted by Chaucer in 2019
6th April 2020
China Reinsurance Corporation (China Re) has reported premium growth and a rise in net profit for 2019, driven in part by the strong performance of its P&C Reinsurance segment and the inclusion of Chaucer business. At RMB144,973 million, China Re's gross written premiums (GWP) increased by 18.6% year-on-year. At the same ... Read the full article
Lloyd’s falls to 2019 underwriting loss, COVID-19 drives down solvency ratio
26th March 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has reported an unprofitable underwriting performance for 2019, with its full year results also revealing a decline in its central solvency ratio as a result of financial market volatility driven by the COVID-19 outbreak. Albeit improved on the previous year, Lloyd's has ... Read the full article
Oxbridge Re posts loss for 2019, despite profitable Q4
24th March 2020
Property and casualty reinsurer Oxbridge Re Holdings Limited has recorded a net loss $305,000 for 2019, despite achieving a profitable result in the fourth quarter of the year. The company generated net income of $61,000 in Q4 compared with a loss of $6.5 million for the same period in 2018. Although it ... Read the full article
Maiden posts $21.5mn Q4 loss, wraps up Vermont re-domestication
19th March 2020
Bermuda-based re/insurer Maiden Holdings has reported a fourth quarter net loss of $21.5 million, reflecting the run-off of its previously-terminated AmTrust reinsurance contracts and a tempering of the adverse prior year loss development experienced in recent years. The company has also closed its re-domestication to Vermont, following a mandatory 14-day publication ... Read the full article
Aspen wraps up “transitional” 2019 with $48mn operating loss
17th March 2020
Bermuda domiciled re/insurer Aspen fell to a $48.4 million operating loss in 2019, as the company navigated what it describes as a “transitional year.” Losses, which also included a net loss of $241.7 million, were driven by costs relating to the acquisition of the company by certain investment funds managed by ... Read the full article
AEGIS London reports 7% rise in profit for its managed syndicate in 2019
16th March 2020
AEGIS London, a Lloyd's of London managing agency, has announced that its managed syndicate recorded a 7% rise in profit in 2019 to £31.1 million, compared with £29.1 million a year earlier. The year-on-year increase in profit reported by AEGIS was achieved in spite of foreign exchange losses of £5 million. The ... Read the full article
Talanx posts record €923mn net income for 2019 despite large losses
16th March 2020
Talanx, the parent company of Hannover Re, generated a record net income of €923 million during 2019 despite higher-than expected large losses. Total large losses amounted to €1.3 billion, due above all to events in non-life reinsurance. €363 million of this figure was attributable to primary insurance, while reinsurance accounted for the ... Read the full article
Generali profits rise 16% with growth across all segments
13th March 2020
Italian re/insurer Generali has increased its net profit by 15.7% to €2.67 billion in 2019, thanks to the positive performance of all of its business segments. This included a 3.3% increase in the operating result of the property and casualty (P&C) segment, which stood at €2.06 billion for the year, versus ... Read the full article
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