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.
Jebi loss creep drives Q2 underwriting loss for Sirius
8th August 2019
Further loss creep from typhoon Jebi has hit the performance of Sirius International Insurance Group, Ltd. in the second-quarter of 2019, driving the firm's net income down from $98 million in Q2 2018 to $7 million in Q2 2019. The impact of loss creep from Jebi also hit the firm's H1 ... Read the full article
$82m Jebi loss creep drags down Liberty Mutual Q2 performance
8th August 2019
Liberty Mutual Holding Company and its subsidiaries has reported a Q2 net income of $399 million, a 59.3% drop from the $582 million reported in the prior year quarter. The company is being hit by what has been described by Chairman and Chief Executive Officer, David H. Long, as “unusual volatility ... Read the full article
Zurich benefits from a strong P&C result in H1 2019
8th August 2019
Global insurer Zurich has reported an increase in property and casualty (P&C) operating profit of 46% and its lowest P&C combined ratio of the past decade, of 95.1%, in the first-half of 2019. Overall, Zurich has reported business operating profit of $2.8 billion for the first-half of the year, an increase ... Read the full article
AIG posts strong Q2 off reinsurance actions, improved discipline
8th August 2019
Global insurer AIG has posted a Q2 net income of $1.1 billion, up from $937 million in the prior year quarter, driven by "expense discipline, and reinsurance actions" within its general insurance segment, according to President and Chief Executive Officer, Brian Duperreault. With a combined ratio (CR) of 97.8%, general insurance ... Read the full article
Third Point Re’s underwriting result improves on property cat business
8th August 2019
Hedge fund-backed reinsurer Third Point Re has reported an improved, albeit still negative underwriting result for the second-quarter and first-half of 2019, while the firm's net income improved for both periods when compared with 2018. Third Point Re has reported net income of $53.1 million for Q2 and $186 million for ... Read the full article
Hannover Re’s net income up by 19% in 2019, P&C grows substantially
8th August 2019
Global reinsurance giant Hannover Re has reported a 19.3% rise in net income for the first-half of the year, supported by an improved result in life and health (L&H) and significant expansion in property and casualty (P&C) reinsurance. The reinsurer's net income reached €662.5 million, while its operating profit for the ... Read the full article
HCI Group’s 2019 profit dented by losses, reserve strengthening
7th August 2019
Florida-headquartered re/insurance focused holding company, HCI Group, Inc., saw its net income increase by $1.2 million in the second-quarter of 2019 to $7.6 million, while the firm's combined ratio deteriorated from 89.3% in Q2 2018 to 92.9% in Q2 2019. Despite the increase in Q2 net income year-on-year, HCI Group's H1 ... Read the full article
Enstar’s Q2 net earnings rise significantly year-on-year
7th August 2019
Bermuda-based insurance, reinsurance, run-off and legacy specialist, Enstar Group Limited (Enstar), has reported higher consolidated net earnings of $231.8 million and $590.6 million for the second-quarter and first-half of 2019, respectively. For Q2, Enstar's net earnings increased significantly from the $8.2 million recorded in Q2 2018, while the firm's H1 2019 ... Read the full article
MS Amlin’s Q1 result hit by more frequent non-cat large losses
7th August 2019
MS Amlin, the insurance and reinsurance subsidiary of Japanese insurance group MS&AD Insurance Group Holdings Inc., has reported an underwriting loss of £51 million for the first-quarter of 2019, compared with an underwriting gain of £2 million in the first-quarter of 2018. In the first-quarter of 2019, MS Amlin was hit ... Read the full article
Assurant net income growth bolstered by TWG acquisition
7th August 2019
US specialty insurance group Assurant has recorded a Q2 net income of $139.5 million, representing a $77.3 million year-over-year increase. The increase was primarily down to growth within Global Lifestyle, including contributions from the recently-acquired The Warranty Group (TWG), as well as higher net realised gains on investments and lower net ... Read the full article
“Severe and unusual” cat events drive FedNat Q2 underwriting loss
7th August 2019
Florida-based FedNat Holding Company has posted a combined ratio of 101.5% for the second quarter of 2019, up from 99% in Q2 2018, as hail and wind related storms from twelve catastrophe events hit the states it writes property business. Overall, losses and loss adjustment expenses in Q2 increased $17.7 million, ... Read the full article
Suncorp’s net profit falls to AUD 175mn in 2019
7th August 2019
Suncorp has announced its results for the full-year 2019, revealing that its net profit (after-tax) declined by 83.5% year-on-year to AUD 175 million, driven by an AUD 899 million net loss on the sale of its Australian Life Insurance businesses. At just AUD 175 million, the Australian insurer's net profit (after-tax) ... Read the full article
Alleghany’s TransRe, RSUI benefiting from improving conditions
7th August 2019
Alleghany Corporation has announced an underwriting profit of $114.9 million for the second-quarter of 2019, driven by higher profits in both its insurance and reinsurance segments. Alleghany's underwriting profit increased by almost 19% in Q2 2019 when compared with Q2 2018, while net earnings remained flat at $295.5 million and ... Read the full article
Munich Re’s Q2 profit rises to €993mn on low losses & reserve releases
7th August 2019
Global reinsurance giant Munich Re has announced its highest quarterly profit for four years of €993 million in the second-quarter of 2019, driven by low major losses and reserve releases. Munich Re's profit in the second-quarter of 2019 increased from the €728 million recorded in the second-quarter of 2018, underpinned by ... Read the full article
Elevated current & prior-year losses dent Argo’s underwriting result in Q2
6th August 2019
Argo Group International Holdings has reported a combined ratio of 103.4% for the second-quarter of 2019, as elevated current and prior-year losses in its international operations failed to offset improved underwriting income in the U.S. Argo's Q2 2019 combined ratio weakened from the 96.3% recorded in the second-quarter of 2018, and ... Read the full article
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