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.
Modest cat activity likely to dampen Q3 results: Analysts
17th October 2018
Analysts at JMP Securities believe Q3 earnings will be highlighted by a modestly high level of catastrophe losses and a slightly positive mark-to-market impact. While these are the items that will likely be featured in earnings, JMP thinks much of investors’ focus will be on the sustainability of recent modest pricing ... Read the full article
Progressive anticipating $120mn hit from Hurricane Michael
16th October 2018
Insurance group The Progressive Corporation has said that it currently expects to incur losses of approximately $120 million from Hurricane Michael, which hit Florida last week as a Category 4 hurricane. This estimate consists of $60 million in losses for Progressive’s vehicle business and $60 million for its property business, ... Read the full article
Smaller Q3 catastrophes will add up to “sizeable” losses: KBW
16th October 2018
Catastrophe losses for property and casualty (P&C) re/insurers over the third quarter of 2018 will drop dramatically year-on-year, but the large number of smaller events over this period will still produce sizeable losses, according to analysts at Keefe, Bruyette & Woods (KBW). KBW estimates that global insured catastrophe losses for Q3 ... Read the full article
P&C net income more than doubles to $34bn: ISO
16th October 2018
U.S property and casualty insurers have seen their post-tax net income more than double to $34 billion in first half 2018, thanks in part to lower catastrophe losses, growing premiums, and an increase in investment income, according to a report from ISO, a Verisk Analytics business. Meanwhile, losses and loss adjustment ... Read the full article
Chubb’s third quarter nat cat losses total $450mn
10th October 2018
Global insurance and reinsurance firm Chubb has revealed its preliminary estimates for net losses attributable to natural catastrophes in the third quarter of 2018, which totalled $450 million pre-tax, or $372 million after tax. Chubb said that the losses are attributable to more than 20 separate global weather events, including Hurricane ... Read the full article
“The time is right to be precisely our size,” says Argo CEO Watson
28th September 2018
Mark E. Watson III, Chief Executive Officer (CEO) of Argo Group International Holdings, Ltd. has claimed that current market conditions and the pace of technological change in the re/insurance industry are conducive to mid-sized companies such as Argo. In a Letter to Shareholders, Watson said that he believed the industry was ... Read the full article
Lloyd’s performance stabilises but further improvements needed: Peel Hunt
27th September 2018
The underlying underwriting performance at Lloyd’s stabilised over the first half of 2018 as rate increases fed through and the marketplace clamped down on underperforming syndicates, according to analysts at Peel Hunt. However, Peel Hunt stated that more needs to be done to place the Lloyd's market on a firmer footing ... Read the full article
Lloyd’s performance improves & premiums grow, but investments dent results
21st September 2018
Lloyd’s of London’s interim report has revealed an uptick in gross written premiums, pre-tax profits of £0.6 billion and improved performance, while investment returns have declined considerably to £0.2 billion against £1.0 billion in June 2017. Gross written premiums increased 2.4% to £19.3 billion H1 2018, compared to £18.9 billion in ... Read the full article
Underlying profitability and reinsurer capital fall at H1 2018: Willis Re
6th September 2018
Underlying profitability continued its downward trend at H1 2018, falling 3.4% for the 34 reinsurance companies tracked in the Willis Reinsurance Index, while shareholders’ equity also saw a decrease of 1.6% to $364.9 billion from $371 billion at year-end 2017. Willis Re’s latest Reinsurance Market Report found that the decreases occurred ... Read the full article
Aon’s public D&O pricing increases 6.1% at Q2 2018
3rd September 2018
Aon Risk Solutions (U.S) has reported in its quarterly pricing index of Directors’ and Officers’ liability (D&O) insurance that its D&O price per million was up 6.1% at Q2 2018 when compared with the prior year quarter, while average change for primary policies with the same limit and deductible increased ... Read the full article
Top European reinsurers report strong underwriting performance at H1: Fitch
24th August 2018
The top four European reinsurers all reported a solid underwriting performance over the first half of 2018, with limited large losses, moderate rate improvements, and strong premium growth, according to a recent report by Fitch Ratings. Fitch largely attributed the strong underwriting performance of the group, which included Munich Re, Swiss ... Read the full article
Tokio Marine Kiln updates on modest Lloyd’s Syndicate improvements
14th August 2018
Tokio Marine Kiln Syndicates has released updated forecasts for the 2016 and 2017 years of account for its three non-aligned syndicates. For 2016 all three syndicates showed small improvements owing to a stable quarter in the company’s back-year development and, in particular, a reduction in ultimate losses for the 2017 Q3 ... Read the full article
Surplus lines premium continues to grow across U.S, reports SLTX
9th August 2018
Excess and surplus lines (E&S) premium has continued to increase steadily across the U.S, with the 15 national managing service offices recording growth of 9.4% at mid-year 2018, according to the Surplus Lines Stamping Office of Texas (SLTX), a non-profit data analysis firm. Total premium for the first half of 2018 ... Read the full article
Hannover Re’s P&C unit drives positive results in challenging conditions
9th August 2018
Reinsurance giant Hannover Re has reported a 3.8% rise in net income for the first-half of the year, alongside premium growth of 11% to €10 billion (US$11.6bn). The firm also improved the combined ratio within its property and casualty (P&C) reinsurance segment, in spite of "fierce competition." The Germany domiciled reinsurer ... Read the full article
Sampo Group announces new CFO, insurance business surges
8th August 2018
Sampo Group, a Nordic financial and insurance company, has announced that Knut Arne Alsaker will be replacing Peter Johansson as its Chief Financial Officer. Johansson retires on January 1, 2019 after 33 years with Sampo; he has been a member of the firm’s Executive Board since 2001. Alsaker is currently CFO of ... Read the full article
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