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.
Lancashire encouraged by improved discipline and pricing
25th July 2019
Lancashire Holdings Limited has reported profit before tax of $40.5 million ($39.1 million after-tax) for the first-half of 2019 and a weaker combined ratio of 86.6% as its loss ratio increased to 34.5%. Despite the weaker result year-on-year, the firm is encouraged by growing signs of improved discipline and pricing ... Read the full article
SCOR announces solid H1 performance on the back of strong renewals
25th July 2019
Global insurer and reinsurer SCOR has reported strong and profitable growth for the first six months of the year, supported by continued growth in Global P&C on the back of strong renewals. Group net income increased by 9.2% for the first-half of the year to €286 million, as the reinsurer recorded ... Read the full article
Chubb CEO notes improved, broadening pricing environment
24th July 2019
Global insurer and reinsurer Chubb has reported net income of $1.2 billion and a P&C combined ratio of 90.1% for the second-quarter of 2019, while an improved pricing environment resulted in strong premium growth for the firm. At $1.2 billion, Chubb's net income and core operating income fell slightly year-on-year, by ... Read the full article
W.R. Berkley Q2 results boosted by “accelerating” market firming
24th July 2019
W. R. Berkley achieved 5% rate increases, excluding workers’ compensation, in the second quarter of 2019, with catastrophe-exposed property “clearly out in front.” President & Chief Executive Officer, William Robert Berkley Jr., noted in an earnings call yesterday that the company is seeing rate increases across the board except for workers’ ... Read the full article
Travelers’ net income up, combined ratio weakens on non-cat weather losses
23rd July 2019
The Travelers Companies, Inc. has recorded net income growth in both the second-quarter and half-year of 2019, while its underlying combined ratio weakened slightly, partly as a result of an increase in non-catastrophe weather-related losses and lower favourable prior year reserve development. At $557 million, the U.S. domiciled insurer's net income ... Read the full article
Brown & Brown’s revenues and net income up in 2019
23rd July 2019
Brown & Brown, Inc. has announced revenues for the second-quarter of 2019 of $575.2 million, an increase of almost 22% on the same period in 2018, driven by recent acquisitions, solid organic growth and margin expansion. The firm has announced that commissions and fees jumped by more than 21% year-on-year, while ... Read the full article
Strong investment gain offsets higher claims, low reserve releases for Beazley in H1
23rd July 2019
Specialist insurer and reinsurer Beazley has reported a combined ratio of 100% for the first-half of 2019, as a significant jump in investment income helped to offset higher claims, lower reserve releases and a loss in its reinsurance segment. Beazley has announced profit before tax of $166.4 million for the first-half ... Read the full article
Munich Re expects €1bn Q2 result on lower losses, reserve releases
18th July 2019
Global reinsurance giant Munich Re has announced that it expects to report a consolidated result of approximately €1 billion for the second-quarter of 2019. The reinsurer states that this figure is mainly a result of low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years. Munich Re ... Read the full article
Improvements in casualty, surety offset property underwriting loss for RLI in Q2
18th July 2019
RLI Corp. has announced a slight improvement in its underwriting income in the second-quarter of 2019, as gains in casualty and surety business offset a property segment underwriting loss in the period. For the second-quarter of 2019, RLI has reported net earnings of $40.5 million, compared with $33.3 million a year ... Read the full article
Active but manageable cat load to hit P&C earnings in Q2: Analysts
12th July 2019
On the back of an active period for catastrophes but still manageable underwriting losses, improved investment returns, and the improving rate environment, analysts at J.P. Morgan are expecting property and casualty (P&C) re/insurers to report mixed earnings for the second-quarter of 2019. Global insurers and reinsurers are soon to announce their ... Read the full article
Allstate reports catastrophe losses of $473mn for May
21st June 2019
The Allstate Corporation has announced that its estimated catastrophe losses for the month of May 2019 were $473 million, pre-tax ($374 million, after-tax). Catastrophe losses occurring in the month comprised 14 events at an estimated cost of $504 million, pre-tax ($398 million, after-tax). This was offset by favourable reserve re-estimates of prior ... Read the full article
US P&C sector’s underwriting income up 24% in Q1: A.M. Best
24th May 2019
The U.S. property and casualty (P&C) sector's net underwriting income for the opening three months of 2019 improved by 24% from the same period in 2018, as premium growth, lower underwriting expenses and reduced policyholder dividends offset an increase in losses and loss adjustment expenses (LAE). This is according to international ... Read the full article
Profitability returns, GWP falls for US P&C reinsurers in Q1: RAA
24th May 2019
Data released by The Reinsurance Association of America (RAA) shows a significant drop in gross written premium (GWP) for the first three months of 2019 to $19.2 billion, compared with $66.7 billion in the final quarter of 2018. The data, collected by RAA from 17 reinsurers globally, also indicates a return ... Read the full article
Lockton posts $1.72bn revenue for fiscal year
23rd May 2019
Re/insurance broker Lockton has posted $1.72 billion in revenue for the 2019 fiscal year, a 10.3% increase from 2018. The successful expansion earlier this year of its global reinsurance business, Lockton Global Re, was described by its Chief Executive Officer Timothy Gardner as a critical pillar of Lockton's long-term growth ... Read the full article
Deutsche Rück profits up in 2018 despite underwriting loss
17th May 2019
German re/insurer Deutsche Rückversicherung AG (Deutsche Rück) reported a net profit of €56.0 million, after tax, in 2018 despite turning an underwriting loss, partly driven by claims from weather events such as Storm Friederike/David. The improved result, which was well above the net profit of €3 million recorded in 2018, was ... Read the full article
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