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.
TransRe cat losses drive full year underwriting loss for Alleghany
21st February 2019
Investment holding company Alleghany Corporation has posted an underwriting loss of $161.5 million for the full-year 2018, which was partially driven by catastrophe losses incurred by its reinsurance arm, Transatlantic Reinsurance Company (TransRe). TransRe experienced $500.1 million of catastrophe losses in 2018, of which $167.2 million was attributable to Typhoon Jebi, ... Read the full article
Costly natural disasters see AXA XL slump to €233m full year loss
21st February 2019
AXA XL, the newly-formed division of French insurance and investment giant AXA, has seen significant impacts from two major natural catastrophes in the fourth quarter of 2018 result in the posting of a €233 million full year loss. The California wildfires, which consisted mainly of the Camp and Woolsey fires in Northern ... Read the full article
Large claims bill dents Swiss Re’s 2018 net income
21st February 2019
Global reinsurance giant Swiss Re has reported Group net income of $421 million for the full-year 2018, as estimated large claims of $3 billion significantly impacted the performance of both its property and casualty reinsurance (P&C Re) and Corporate Solutions' units. As well as the hit from catastrophe events in 2018, ... Read the full article
Higher catastrophe hit pushes UPC to Q4 loss
20th February 2019
Property and casualty insurance holding company, United Insurance Holdings Corp. (UPC) fell to an $11.1 million net loss in the fourth-quarter of 2018, driven by catastrophe losses of more than $41.7 million, primarily relating to the impacts of Hurricane Michael in the U.S. The $11.1 million net loss compares to a ... Read the full article
SCOR reports solid 2018 growth and profit despite nat cats
20th February 2019
Global insurer and reinsurer SCOR's gross written premiums (GWP) surpassed €15 billion for the first time in 2018, while full-year net income improved to €322 million despite the impacts of catastrophe losses in the third and fourth-quarter. The French re/insurer has reported GWP of €15.3 billion for the full-year 2018, up ... Read the full article
Kuwait Re’s 2018 profit up on investment and premium growth
18th February 2019
Kuwait Reinsurance Company K.S.C.P. has reported that an improved investment performance and higher net earned premiums contributed to a 10% rise in net income for the 2018 financial year. The reinsurer's net income spiked from KD 3.06 million (USD 10 million) in 2017 to KD 3.37 million (USD 10.9 million) in ... Read the full article
Brit posts $166mn loss in 2018, driven by catastrophes
15th February 2019
Global specialty re/insurer Brit Limited has posted a loss after tax of $166.5 million for full-year 2018, driven primarily by $196.8 million of natural catastrophe losses. These included $98.6 million of losses from the California wildfires, $56.3 million from Hurricane Michael, $27.1 million from Hurricane Florence, $26.0 million from Typhoon Jebi, ... Read the full article
Allianz posts highest net income for 10 years, P&C performance improves
15th February 2019
Allianz has reported its highest net income of the past decade for 2018, of €7.5 billion (USD 8.5bn), helped by increased operating profit within its property and casualty (P&C) business, despite strong market volatility. A higher overall operating profit of €11.5 billion and reduced income taxes more than offset Allianz's non-operating ... Read the full article
Volatile market, nat cats see AIG report $559m Q4 loss
14th February 2019
Catastrophe losses and poor investment returns in a volatile market have seen American International Group (AIG) report an adjusted after-tax loss of $559 million. In addition, the company added $365 million to its reserves in the quarter to cover policies issued in 2016 and earlier. For the full year, this figure totalled ... Read the full article
Suncorp to increase reinsurance spend by $200mn after cat losses dent results
14th February 2019
Suncorp Group, the Australian primary insurer, has announced that it plans to purchase an additional AUD $200 million (US $142 million) of natural perils reinsurance cover in FY 2020 after catastrophe losses of $580 million dented the Group’s profits in 1H 2019. The insurer reported net profit after tax of $250 ... Read the full article
Catastrophe losses & tax cuts impact Assurant’s Q4 results
13th February 2019
U.S. specialty insurance group Assurant has posted its results for the fourth quarter of 2018, which include a reduction in net income from $312.9 million in Q4 2017 to $20.3 million in Q4 2018. This decease was primarily driven by $95.5 million of catastrophe losses in Q4 2018 and the absence ... Read the full article
Arch’s Q4 income drops by $80mn due to cat losses
13th February 2019
Bermudian re/insurer Arch Capital Group saw its fourth quarter net income fall by 38% year-on-year from $203.5 million in 2017 to $126.1 million in 2018, primarily due to the impact of natural catastrophes on its results. Arch’s Q4 catastrophe losses totalled $118.2 million, net of reinsurance and reinstatement premiums, with losses ... Read the full article
Argo improves combined ratio, reports strong growth for 2018
12th February 2019
Argo Group International Holdings, Ltd. saw its combined ratio strengthen in both Q4 and the full-year 2018, as the re/insurer continued to expand its business operations. Argo has reported its financial results for the fourth-quarter and full-year 2018, posting a net loss of $43.6 million and net income of $63.6 million, ... Read the full article
High cat losses drive Q4 net loss for Everest Re
12th February 2019
Bermuda-based reinsurer Everest Re Group, Ltd., fell to a net loss of $382.3 million in the fourth-quarter of 2018 as catastrophe losses spiked to $875 million, driven mostly by hurricane Michael, the California wildfires, and a hailstorm event in Australia. The Q4 net loss compares to net income of $571 million ... Read the full article
Donegal restructures reinsurance program after heavy Q4 losses
8th February 2019
U.S primary holding company Donegal Group Inc. has restructured its reinsurance program following heavy losses in the fourth quarter of 2018 due to natural catastrophes, low investment returns, and underperformance in its personal and commercial auto lines. Donegal’s 2019 reinsurance program, which applies to its insurance subsidiaries and Donegal Mutual Insurance ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
