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.
Argo warns ahead of “unacceptable” $114mn Q4 loss
13th February 2020
Bermuda-based insurer and reinsurer Argo Group International Holdings, Ltd. has issued a statement ahead of the release of its fourth quarter results, which it has warned will likely contain a $114 million underwriting loss. Argo Group Interim CEO Kevin Rehnberg said that the company’s results for both the quarter and the ... Read the full article
Zurich’s P&C performance drives 16% rise in profit for 2019
13th February 2020
Global insurer Zurich has reported a 16% rise in business operating profit (BOP) to USD 5.3 billion for 2019, driven by growth across the business and a strong underwriting result within its Property and Casualty (P&C) segment. Zurich's elevated BOP for 2019 compares with the USD 4.6 billion recorded a year ... Read the full article
Improved Lancashire results early evidence of a hard cycle, says CEO
13th February 2020
Lancashire Group CEO Alex Maloney has said that the improvement in the company’s 2019 results are “early evidence” of the transition to a harder stage of the re/insurance pricing cycle. The Group’s profit (after-tax) improved more than threefold in comparison with the previous year, rising from $37.5 million to $117.9 million. This ... Read the full article
Analysts lower Munich Re’s FY19E net income by 8%
12th February 2020
Analysts at J.P. Morgan expect reinsurance giant Munich Re's property and casualty (P&C) segment to fall to an underwriting loss in the fourth-quarter of 2019, while the firm's Life reinsurance division is expected to produce a below run-rate quarter. Overall, analysts expect that Munich Re will report a combined ratio of ... Read the full article
Arch’s reinsurance result more than offsets insurance segment loss in Q4
12th February 2020
Arch Capital Group Ltd. has reported an improved combined ratio of 83.8% for the fourth-quarter of 2019, as underwriting income in its reinsurance segment more than offset a loss in the re/insurer's insurance division. The company's combined ratio improved by four percentage points when compared with the 87.8% recorded in the ... Read the full article
Watford falls to underwriting loss after bolstering reserves
12th February 2020
Bermuda domiciled insurance and reinsurance company Watford Holdings Ltd. has ended the year with an underwriting loss of $54.1 million, partly due to loss reserve strengthening in US casualty reinsurance in the fourth quarter. Watford has now confirmed that it incurred a $37.8 million loss in Q4 after issuing a ... Read the full article
MAPFRE’s earnings rise by more than 15% in 2019
12th February 2020
Insurer and reinsurer MAPFRE's fiscal year 2019 financial results reveal a solid year for the company with earnings up by over 15% to €609 million, while premiums grew by more than 2% to €23.04 billion. As well as earnings growth, MAPFRE's revenues increased by more than 7% in 2019 to €28.5 ... Read the full article
IAG reports lower 1H20 profit as catastrophe losses hit its reinsurance
12th February 2020
Australian insurer IAG has revealed that it's increased its full year 2020 net perils expectation to AUD 850 million after 1H20 natural catastrophe losses exceeded its allowance by around AUD 100 million, leading to significant reinsurance recoveries. The firm has released its results for the half year ended December 31st, 2019 ... Read the full article
Disaster losses eat into Suncorp’s reinsurance program
11th February 2020
Australian insurer Suncorp has said that natural catastrophe losses from bushfires and storms have used up around half the protection available in its aggregate reinsurance program. The company expects to have only around half of its AU $300 million (US $200 million) natural hazard aggregate protection (NHAP) reinsurance coverage left, after ... Read the full article
Kemper reports significantly improved Q4 results
11th February 2020
Specialist insurer Kemper has reported net income of $124.7 million for the fourth-quarter of 2019, which represents a significant improvement from the $6.5 million posted for the prior year quarter. Kemper reveals that during Q4 2019, net income included a $30.9 million after-tax gain attributable to the change in fair value ... Read the full article
Everest Re falls to Q4 underwriting loss but operating income up
11th February 2020
Bermudian reinsurer Everest Re Group, Ltd. has reported net income of $217.6 million and a combined ratio of 101.5% for the fourth-quarter of 2019, while premiums jumped 7% to $2.4 billion. Net income of $217.6 million is a significant improvement on the $385.3 million loss reported in the fourth-quarter of 2018, ... Read the full article
Q4 turnaround helps CNA Financial income to $1bn in 2019
10th February 2020
CNA Financial has reported net income of $273 million for the fourth quarter of 2019, helping to lift its full-year results by 23% to $1.0 billion. The company’s results had previously been weighed down by its fourth quarter performance in 2018, when it posted a net loss of $84 million. Lower catastrophe ... Read the full article
Beazley profits jump off investments, rates rise 6%
6th February 2020
Specialist insurer Beazley has posted a pre-tax profit for 2019 of $267.7 million, up from $76.4 million in 2018, and reported a 6% rate increase. Beazley’s pre-tax profit jump was bolstered by a strong investment return of $263.7 million, up from $41.1 million in 2018. The firm’s combined ratio of 100% - ... Read the full article
Hannover Re’s parent Talanx announces record results in 2019
6th February 2020
Talanx, the parent company of German reinsurer Hannover Re, has announced record results of €923 million (roughly USD 1 billion) in 2019, driven in part by an extremely strong performance within its reinsurance segment. Based on preliminary unaudited consolidated figures, the Talanx's earnings jumped by approximately 30% from the €703 million ... Read the full article
WTW reports 6% overall growth for 2019
6th February 2020
Global insurance and reinsurance broker Willis Towers Watson has reported 6% overall growth for 2019, with revenue standing at $9.04 billion. Organic revenue growth was reported at 6% for the quarter and 5% for the full year. Also for the fourth quarter, WTW’s Investment, Risk & Reinsurance segment posted revenue of $314 ... Read the full article
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