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.
Nat cat losses stunt Hannover Re’s P&C performance
11th March 2020
Global reinsurer Hannover Re has posted a net income of €1.28 billion for 2019, a 21.2% increase from the previous year, despite significant property and casualty reinsurance losses. The largest loss was hurricane Dorian at a net cost of €194.7 million. Typhoons Hagibis and Faxai caused further expenditure of €183.8 million ... Read the full article
Greenlight Re posts cat-driven $30.3mn Q4 net loss
10th March 2020
Hedge fund-backed reinsurer Greenlight Re has announced a fourth quarter net loss of $30.3 million, driven by a $14.2 million catastrophe loss related to typhoons Hagibis and Faxai. The loss represents an improvement from the $80.8 million hit in the prior year quarter. A net investment loss of $8.8 million compares to ... Read the full article
HCI Group posts $6.4mn Q4 net income
6th March 2020
Florida-based insurtech HCI Group has posted a $6.4 million net income for the fourth quarter, up from an $8.5 million net loss in the prior year quarter. Net income for the full year totaled $26.6 million, compared with $17.7 million in 2018. HCI says this increase for the full year was primarily ... Read the full article
Typhoons & riots push Sirius to heavy Q4 loss
6th March 2020
Sirius International Insurance Group has reported a net loss of $150.3 million for the fourth quarter of 2019 and a net loss of $45.6 million for the full year, caused by Typhoon Hagibis and the Chilean riots in Q4, as well as Typhoon Faxai and Hurricane Dorian earlier in the ... Read the full article
Heritage boosted by shift away from Florida, says CEO
4th March 2020
Bruce Lucas, CEO of property and casualty (P&C) insurer Heritage Insurance Holdings, Inc, has said that the company’s performance has been boosted by its shift away from Florida business in recent years. Although it remains domiciled in Florida, since 2016 Heritage has been shutting off business in what it considers ... Read the full article
Universal reports Q4 operating loss, combined ratio weakens
3rd March 2020
Floridian P&C insurer Universal Insurance Holdings saw its combined ratio weaken to 142.9% and 103.9% for the fourth-quarter and full year 2019, respectively, driven by reserve strengthening, adverse weather events, subrogation recoveries, and reduced benefits from claim settlement fees. When compared with the fourth-quarter and full year 2018, Universal's combined ratio ... Read the full article
Third Point Re expects underwriting profitability in Q1 and beyond
3rd March 2020
Hedge fund-backed reinsurer Third Point Re is confident of recording an underwriting gain in the first-quarter of the year and, over time, expects this side of its balance sheet to become a meaningful contributor to overall returns. Third Point Re announced towards the end of 2018 that although investments would remain ... Read the full article
IGI posts solid 2019 results ahead of go-public Tiberius deal
3rd March 2020
International General Insurance Holdings Limited (IGI) has reported after-tax profit of $23.6 million for the full year 2019, as higher investment income partially offset a slight dip in the company's net underwriting result for the year. IGI's full year profit fell by around $2 million when compared with the prior year, ... Read the full article
Typhoon losses push PartnerRe to $188mn Q4 underwriting loss
3rd March 2020
Bermuda-based reinsurance firm PartnerRe has posted a non-life underwriting loss of $188 million for the fourth quarter of 2019, driven by Japanese typhoon losses and attritional losses on agriculture business. The company incurred catastrophic losses of $133 million from Typhoon Hagibis and $39 million of adverse development on Typhoon Faxai, as ... Read the full article
Hiscox reports decline in profit for 2019 amid elevated losses
2nd March 2020
Hiscox has announced a decline in profit to $53.1 million for the year ended December 31st 2019, while the firm's combined ratio weakened to 105.7% in the period on the back of elevated catastrophe losses. The insurer and reinsurer's profit fell from the $135.6 million posted a year earlier, and includes ... Read the full article
Protective Insurance sees decline in GWP amid underwriting actions
28th February 2020
Protective Insurance Corporation has reported net income of $3.8 million for the fourth-quarter of 2019, while efforts to improve underwriting profitability resulted in a slight decline in gross written premiums (GWP). Net income of $3.8 million represents a significant improvement on the $24.6 million net loss reported for the same period ... Read the full article
Third Point Re swings to profit off investment gains
28th February 2020
Hedge fund-backed reinsurer Third Point Re has posted a net income of $29.7 million for the fourth quarter of 2019, compared to a $298 million loss in the prior year quarter. This swing was boosted by healthy investment returns of 2.4% for the quarter (compared to a 11.4% loss the previous ... Read the full article
Heritage grows income by 5% in 2019
28th February 2020
Florida domiciled property and casualty (P&C) insurer, Heritage Insurance Holdings, Inc. has reported that its net income increased 5% to $28.6 million in 2019. The company explained that the increase reflected higher non-core pre-tax charges in the prior year and lower interest expense in the current year, mostly associated with debt ... Read the full article
Munich Re exceeds FY19 profit target but major losses dent P&C result
28th February 2020
Global reinsurance giant Munich Re has announced that it exceeded its original profit guidance by €200 million in 2019, despite a high impact from catastrophe losses hitting the performance of its P&C reinsurance segment in the fourth-quarter. For the full year 2019, Munich Re has announced profits of €2.7 billion, which ... Read the full article
Q4 loss weighs on Liberty Mutual’s 2019 income
27th February 2020
Liberty Mutual Holding Company Inc. (LMHC) and its subsidiaries reported a 51.7% decrease in net income over 2019, weighed down by a net loss of $300 million during the fourth quarter of the year. The company’s net income was $1.04 billion in 2019, versus $2.160 billion in the previous year. Q4 ... Read the full article
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