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.
Ping An reports significant jump in net profit in 2019
16th August 2019
Ping An Insurance (Group) Company of China, Ltd. has reported 63.3% growth in net profit for the first-half of the year to RMB105,738 million (USD 15 billion), which included a RMB10,453 million (USD 1.5 billion) one-off gain from a tax law change on commission expense. The firm notes steady overall growth ... Read the full article
Aspen reports H1 net loss from underwriting, expense movements
16th August 2019
Aspen Insurance Holdings Limited has reported a net loss of $37.3 million for the first-half of 2019 compared with net income of $16.1 million in the same period last year, driven by expense and underwriting movements. The insurer and reinsurer's reported net loss for the period includes $99.2 million of net ... Read the full article
QBE 29% profit jump driven by lower attritional claims experience
15th August 2019
QBE Insurance Group Limited (QBE) has reported a 29% rise in net after-tax profit for the first-half of 2019 to $463 million, driven by a significant improvement in attritional claims experience across all divisions. Supporting the improved attritional claims experience in the period, QBE's net investment return increased to almost 7% ... Read the full article
Palomar Holdings reports significant premium growth in Q2
14th August 2019
California-based Palomar Holdings, Inc. has reported a more than 56% rise in gross written premiums (GWP) for the second-quarter of 2019 to $58.3 million, while net income fell slightly to $6.7 million, when compared with the second-quarter of 2018. Net income fell by approximately 3% from the $6.9 million recorded in ... Read the full article
Talanx lifts FY19 net income outlook after strong first-half result
12th August 2019
Reinsurance giant Hannover Re's parent, The Talanx Group, has raised its outlook for Group net income in 2019 to above €900 million on the back of a strong first-half performance, supported by a greater contribution from its reinsurance division despite the impact of losses. For the first-half of 2019, the company's ... Read the full article
Strong investment return offsets higher losses for Sompo International in 1Q19
9th August 2019
Bermuda-based property and casualty re/insurer, Sompo International, saw its underwriting income increase by $4 million to $38 million in 1Q FY2019, driven by a huge spike in investment income. Overall, Sompo International has reported net income of $207 million for the period, which is roughly $154 million, or almost 300% up ... Read the full article
Saudi Re posts strong net income growth for first half of 2019
9th August 2019
Saudi Reinsurance Company has posted a net profit before Zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth), of SAR 42.6 million (USD 11.3 million) for the first half of 2019. This figure represents a 203% increase from the SAR 14 million in the same period ... Read the full article
IAG lifts nat cat allowance after erosion of stop-loss reinsurance in FY19
8th August 2019
Australian insurer IAG has reported that at AUD 627 million, natural peril claims costs for the full-year 2019 exceeded its allowance by AUD 19 million, after the exhaustion of its FY19 stop-loss reinsurance protection, which provided the firm with AUD 101 million of cover in the second-half of the year. For ... Read the full article
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
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