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.
Swiss Re’s net income up but catastrophes hit underwriting result
31st October 2019
Global reinsurance giant Swiss Re has reported group net income of $1.3 billion for the first nine months of the year, supported by growth in reinsurance. However, a $1.7 billion hit from natural catastrophes and man-made disasters resulted in a combined ratio of 101.4% in property and casualty reinsurance (P&C ... Read the full article
Significantly improved underwriting result boosts Markel in Q3
30th October 2019
Markel Corporation has reported an improved combined ratio of 94% for the third-quarter of 2019 compared with 99% a year earlier, as the firm produced a significantly better underwriting result in the period. In 2019, Markel's underwriting results included a loss of $42.6 million from Hurricane Dorian and Typhoon Faxai. This ... Read the full article
Hagibis impact on RenRe’s net income estimated 72% higher than Faxai
30th October 2019
Bermuda-based reinsurer RenaissanceRe (RenRe) has revealed that it expects Typhoon Hagibis to have a net negative impact on its net income of approximately $175 million on its fourth-quarter 2019 results. RenRe today announced its financial results for the third-quarter of 2019, announcing a decline in operating income, year-on-year, primarily as ... Read the full article
Allstate’s underwriting income up by over 45% in Q3
30th October 2019
The Allstate Corporation has announced that its total revenue increased by 5.8% in the third-quarter of 2019 to $11.1 billion, while the firm's underwriting income jumped by more than 45% and its combined ratio strengthened to 91.6, compared with 93.9 in the third-quarter of 2018. Underwriting income totalled $737 million for ... Read the full article
Watford’s net income falls by 99% in Q3
30th October 2019
Bermuda domiciled insurance and reinsurance company, Watford Holdings Ltd. has announced net income of $0.2 million and a combined ratio of 104% for the third-quarter of 2019. The re/insurer's Q3 result was adversely impacted by charges totalling $5.5 million for accelerated amortization and other one-time payments related to the redemption of ... Read the full article
Arch sees Q3 income up despite re/insurance underwriting hit
30th October 2019
Bermuda-based re/insurance provider Arch Capital Group has reported $382.1 million of net income for the third quarter - up from $217 million in Q3 2018 - despite underwriting losses in its insurance and reinsurance segments. Meanwhile, pre-tax current accident year catastrophe losses, net of reinsurance and reinstatement premiums, have been pegged ... Read the full article
Chubb income down 11% in Q3 despite underwriting improvements
30th October 2019
Global insurer and reinsurer Chubb has posted an 11.4% reduction in net income for the third quarter of 2019, despite significant improvements to its property and casualty (P&C) underwriting. Net income was recorded at $1.1 billion, compared with $1.2 billion for Q3 2018. Chubb explained that the figure was unfavourably impacted by ... Read the full article
RenRe profits down on Q3 cat losses
30th October 2019
The impacts of Hurricane Dorian and Typhoon Faxai have driven down Bermudian reinsurer RenaissanceRe’s (RenRe) third quarter operating income by $4.8 million against the prior year quarter. Catastrophe events for the quarter resulted in an underwriting loss of $181.9 million and added 20.6% to the combined ratio. RenRe posted an overall underwriting ... Read the full article
“Disappointing quarter” sees AXIS Capital’s combined ratio weaken to 109.4%
30th October 2019
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited has reported net income of $28 million and an operating loss of $33 million for the third-quarter of 2019, as catastrophe, credit and aviation line losses pushed the firm's combined ratio to 109.4%. The re/insurer's Q3 2019 results include pre-tax weather-related losses, net ... Read the full article
Guy Carpenter results boost Marsh & McLennan growth in Q3
29th October 2019
Marsh & McLennan Companies, Inc. (MMC), has reported 13% revenue growth and 5% underlying revenue growth in the third quarter of 2019, supported by a strong performance from its reinsurance broking subsidiary, Guy Carpenter. Consolidated revenue came to $4.0 billion in Q3, an increase of 13% compared with the same period ... Read the full article
QIC Group’s 9M underwriting result hit by Ogden rate revision
29th October 2019
The UK Government's revision of the Ogden discount rate to -0.25% adversely impacted Qatar Insurance Group's (QIC Group) underwriting performance in the first nine months of 2019, driving its combined ratio above 100%. At 101.5%, QIC Group's combined ratio for the period improved slightly from the 102% recorded for the ... Read the full article
Cat losses drive down Everest Re profits in Q3
29th October 2019
Bermudian reinsurer Everest Re Group has reported a 47% decrease in net earnings during the third quarter of 2019, primarily due to catastrophe losses stemming from Hurricane Dorian and Typhoon Faxai. Everest Re recorded net income of $104.4 million this year, compared to $198.4 million for the same period last year. This ... Read the full article
Reduced cat losses lift Mercury General results in Q3
28th October 2019
Mercury General has recorded an 18.3% increase in net income during the third quarter of 2019, helped by significantly lower catastrophe losses. The company recorded net income of $69.3 million this quarter, compared with $58.6 million for the same period last year. Catastrophe losses came to just $3.0 million, down from $13.0 ... Read the full article
CNA Financial earnings slump in third quarter
28th October 2019
CNA Financial has released its results for the third quarter of 2019, reporting a 68% slump in net income due to weak earnings across multiple lines. The company recorded net income of $107 million in Q3 2019, compared with $336 million for the same period last year. Looking at the first nine ... Read the full article
Aon posts Q3 growth across reinsurance, commercial risk segments
25th October 2019
Global re/insurance broker Aon has reported a 5% organic growth within its Reinsurance Solutions segment for the third quarter, driven by double-digit growth in facultative placements and new business generation in treaty. The reinsurance segment generated $291 million in revenue, compared to $279 million in the prior year quarter. Aon has pegged ... Read the full article
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