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.
Zurich notes improved P&C pricing trends in the first-quarter
9th May 2019
Global insurer Zurich has report growth across all regions within its property and casualty (P&C) business in the first-quarter of 2019, while the firm remains on track to meet or exceed its full-year targets. The P&C segment recorded like-for-like premium growth of 4% in Q1 2019 to $9.2 billion. However, in ... Read the full article
Beazley posts robust premium growth for Q1 2019
9th May 2019
Specialist insurer Beazley experienced higher than normal levels of claims within its marine, property, and reinsurance businesses during the first-quarter of 2019, while premium growth continued. Despite the pressures of increased levels of claims, the insurer did report 16% growth in gross written premiums (GWP) for the first-quarter of the year, ... Read the full article
UPC grows Q1 income despite higher cat losses
8th May 2019
Property and casualty insurance holding company United Insurance Holdings Corp. (UPC) grew its net income by 13%, from $8.4 million to $9.5 million, in the first quarter of 2019, despite comparatively higher catastrophe losses. Cat losses totalled $11.7 million in Q1 2019, up from $6.3 million for the same period last ... Read the full article
Brevard County hail storm pushes FedNat to first-quarter net loss
8th May 2019
FedNat Holding Company has reported a net loss of $3.9 million for the first-quarter of 2019, citing that progress was masked by $18.7 million of claims from the Brevard County, Florida hail storm. The $3.9 million net loss compares to net income of $7.5 million in the first-quarter of 2018. Within ... Read the full article
RenRe reports a solid first-quarter, underpinned by 72% combined ratio
8th May 2019
Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported an improved year-on-year net income for the first-quarter of 2019, of $273.3 million, an increase of more than 380%. Operating income also increased for the reinsurer during the first-quarter of 2019, from $122.1 million to $154.4 million. RenRe's annualised return on average ... Read the full article
Higher losses hit Munich Re’s Q1 2019 performance
8th May 2019
Global reinsurance giant Munich Re has maintained its full-year 2019 profit target of around €2.5 billion, despite recording a decline in first-quarter net income as a result of higher basic losses and greater expenditure for claims from previous years. Munich Re's Q1 2019 income totalled €633 million, compared with €827 million ... Read the full article
Heritage continues to diversify outside of competitive Florida market
7th May 2019
Heritage Insurance Holdings, Inc. has reported its results for the first-quarter of 2019, which reveals continued expansion outside of Florida, a lower net income and catastrophe losses of $15 million. Property and casualty insurer Heritage has reported net income of $7 million for the first-quarter of 2019, down roughly 53% on the ... Read the full article
Hiscox uncertain if mid-year rate increases will be adequate
7th May 2019
Global insurer and reinsurer Hiscox saw its gross written premiums increase by 0.6% in the first-quarter of 2019, as a decline in the reinsurance & insurance-linked securities (ILS) segment offset growth in the retail and London market segments. At the same time, the re/insurer is unconvinced mid-year rate increases will ... Read the full article
Assurant reports improved results across all segments in the first-quarter
7th May 2019
Assurant, Inc. recorded improved net income of $161 million in the first-quarter of 2019, with higher earnings reported across its business segments. Net operating income of $140.6 million improved 31% in Q1 2019 when compared with the same period in 2018, and excluding reportable catastrophes improved by 30%, to $148.8 million. The ... Read the full article
Investment income offsets underwriting loss for Greenlight Re in Q1
7th May 2019
Hedge fund style reinsurer Greenlight Re has reported investment income of $32.3 million for the first-quarter of 2019, which more than offset a quarterly underwriting loss as the firm announces Q1 net income of $5.9 million. Net income of $5.9 million compares with a net loss of $142.8 million for the ... Read the full article
Everest Re’s combined ratio strengthens to 88.7% in Q1 2019
7th May 2019
Bermuda-based reinsurer Everest Re Group, Ltd. saw its net income increase from $210.3 million to $348.9 million in the first-quarter of 2019, with growth occurring in both insurance and reinsurance. Overall, gross written premiums jumped 10% in Q1 2019 when compared with the prior year quarter, totalling $2.1 billion. Globally, reinsurance ... Read the full article
AIG improves general insurance underwriting performance in Q1
7th May 2019
Global insurer AIG saw its first-quarter 2019 net income decline to $654 million year-on-year, despite an improved performance in its general insurance unit driven by enhanced underwriting fundamentals, expense discipline, and reinsurance actions. Net income fell to $654 million from $938 million a year earlier, while AIG's return on common equity ... Read the full article
P&C, L&H reinsurance drive premium and earnings growth for Hannover Re in Q1
7th May 2019
Reinsurance giant Hannover Re has announced first-quarter 2019 profit of €293.7 million, underpinned by strong performance in its property and casualty (P&C) and life and health (L&H) reinsurance segments. Quarterly profit increased by roughly €20 million year-on-year, while gross premiums expanded by more than 16% to €6.4 billion. The reinsurer was able ... Read the full article
Berkshire Hathaway suffers Q1 underwriting losses again
4th May 2019
For the second consecutive year, Warren Buffett's reinsurance businesses at Berkshire Hathaway have suffered an underwriting loss for the first-quarter, but the overall performance of the re/insurance segment of the conglomerate rose thanks to investment returns. For Q1 2019, Berkshire Hathaway's re/insurance underwriting income was $389 million, down on the prior ... Read the full article
AXA XL’s Q1 revenue growth offset by 2% reinsurance drop
3rd May 2019
AXA XL has reported total revenue growth of 7% for the first quarter of 2019, driven by 16% growth for P&C insurance and 4% growth for specialty, but offset by a 2% decline for reinsurance. Total revenue rose to €6.1 billion, made up of €2.9 billion from P&C insurance, €1.4 billion ... Read the full article
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