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.
FedNat bolsters reserves as adverse developments mount
20th February 2020
Florida-based primary insurer FedNat Holding Company has reported that it bolstered its reserves in the fourth quarter of 2019 to reflect adverse prior year developments, as well continued claims costs stemming from assignment of benefits (AOB). For Q4, FedNat expects to report $12.0 million (pre-tax) of adverse prior year reserve development, ... Read the full article
Ageas achieves record 2019 results, despite weak Q4
20th February 2020
Brussels-headquartered multinational insurer Ageas has reported a 21% increase in its net result for 2019, marking its best ever full-year results. The 2019 result stood at €979 million versus €809 million in 2018 thanks to good non-life performance in Belgium and Continental Europe, as well as its Asian life business. This was ... Read the full article
Swiss Re’s net income up but P&C combined ratio weakens on losses
20th February 2020
Global reinsurer Swiss Re has reported a 73% rise in net income for 2019 as its Life & Health Reinsurance (L&H Re) result and investment performance offset management actions within its commercial insurance arm, and a Property & Casualty Reinsurance (P&C Re) underwriting loss. For the full year 2019, Swiss Re's ... Read the full article
Palomar’s net income rises but combined ratio weakens in Q4
19th February 2020
U.S. insurer Palomar Holdings, Inc. recorded an increase in net income for the fourth-quarter of 2019 when compared with the same period in 2018, while premiums grew by a huge 68.4% in the quarter. Net income of $10.9 million in the fourth-quarter represents growth of almost 164% when compared with the ... Read the full article
Athene posts improved $432m Q4 net income
18th February 2020
Retirement services firm Athene has posted a $432 million net income for the fourth quarter of 2019, up from a $104 million net loss incurred in the prior year quarter. This increase was driven by higher adjusted operating income, as well as a favorable net change in fixed indexed annuity derivatives ... Read the full article
QBE’s combined operating ratio rises on US crop losses
17th February 2020
QBE Insurance Group Limited has reported that the impacts of adverse weather conditions on its US crop insurance business, combined with the significant level of claims from the Australian bushfires, pushed its full year 2019 combined operating ratio above the target range. The Australian insurer announced in December that it ... Read the full article
MS Amlin’s investment gain drives improved 9M net income
14th February 2020
Insurer and reinsurer MS Amlin increased its contribution to its parent, MS&AD Insurance Group Holdings, Inc., in the nine-month period ended December 31st, 2019, as a strong investment return more than offset an underwriting loss. In its 3Q2019 earnings releases, MS&AD Insurance Group underlines the strong performance of its overseas operations, ... Read the full article
Sompo International forecasts 80% rise in FY19 profit
14th February 2020
Sompo International has revealed that it expects its full year 2019 adjusted profit to increase by just under 80% to USD 318 million, when compared with the previous year. Global re/insurance giant Sompo Holdings has released its financial results for the nine month period ended December 31st, 2019, which includes the ... Read the full article
Solid underwriting result helps Brit return to profit in 2019
14th February 2020
Specialty insurer and reinsurer Brit has reported an improved underwriting result for the full year 2019 while its return on invested assets also spiked, contributing to pre-tax profit of $186.3 million, compared with a loss of $190.3 million for 2018. Brit's underwriting result totalled $68.4 million for 2019, which represents a ... Read the full article
Investment gains help Fairfax to record earnings in 2019
14th February 2020
Fairfax Financial Holdings Limited has reported record net earnings of $2.0 billion for 2019, primarily reflecting net gains on its investments. Earnings were almost five times higher than the $376.0 million recorded in 2018, with investments contributing $1.7 billion last year, compared to $252.9 million previously. Looking at the fourth quarter only, ... Read the full article
Tokio Marine grows 9M income on lower cat losses
14th February 2020
Japanese property and casualty insurance group, Tokio Marine Holdings, Inc., has reported a 2.3% increase in net income over the first nine months of 2019, due to a decline in domestic natural catastrophes and stable investment results in North America. Net income was recorded at 226.6 billion yen (US $2.06 billion) ... Read the full article
Lancashire expects further growth in a better market: CEO Maloney
14th February 2020
Executives at Lancashire Holdings Limited are more positive on the marketplace than they have been for quite some time, and expect the company to grow further in the year ahead. In its recently announced Q4 2019 financial results, Lancashire reported higher profit as a result of a measured pricing improvement, ... Read the full article
Everest Re is optimistic but mindful of “choppy waters”, says John Doucette
13th February 2020
John Doucette, EVP, President and Chief Executive Officer (CEO) of Reinsurance at Bermuda-based Everest Re, has said that despite improving reinsurance market conditions, the company remains realistic that there are "choppy waters to navigate". Global reinsurer Everest Re announced recently improved year-on-year net income of $217.6 million for the fourth-quarter ... Read the full article
Premium growth helps lift Kuwait Re profits by 40%
13th February 2020
Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has reported a 40% increase in net profit for 2019, helped by an increase in net earned premiums and investment income. Profit was recorded at KD 4.73 million (US $15.52 million) last year, compared with KD 3.37 million ($12.24 million) in 2018. This result was boosted ... Read the full article
AIG benefits from favourable reserve development & investments in Q4
13th February 2020
American International Group, Inc. (AIG) has announced significantly improved net income of USD 922 million for the fourth-quarter of 2019, driven by the performance of its General Insurance underwriting, reinsurance actions, favourable prior year development, lower cat losses, and higher investment income. Q4 net income of USD 922 million is a ... Read the full article
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