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.
IRB Brasil RE reports R$630.3mn net loss in full-year results
9th March 2023
Brazilian reinsurance company IRB Brasil RE has recorded a net loss of R$630.3 million in its full-year results, compared to a net loss of R$682.7 million from 2021. At the same time, for Q4 22, the firm came close to reaching the break-even point, with a net loss of R$38.8 million, ... Read the full article
Aviva sees 8% rise in GWP in 2022 results
9th March 2023
Aviva has reported General Insurance gross written premiums (GWP) are up 8% to £9,749 million in its full-year financial results for 2022, compared to the prior year’s £8,807 million. The firm notes UK & Ireland GWP are up 7% to £5,740 million, compared to 2021’s £5,352 million, with Canada GWP up ... Read the full article
Greenlight Re ups net underwriting income in Q4 results
9th March 2023
Specialist property & casualty (P&C) insurer, Greenlight Re, has reported net income of $34.8 million for the fourth quarter of 2022, a substantial rise from $24.3 million from the fourth quarter of 2021. Gross premiums written in Q4 were $127.4 million, compared to $125.1 million Q4 21. Greenlight Re states that ... Read the full article
Hannover Re achieves higher net income but major losses dent P&C underwriting result
9th March 2023
Hannover Re, one of Europe's big four reinsurers, has announced a rise in net income for the full year 2022, although the firm's property and casualty (P&C) combined ratio deteriorated to 99.8% as large loss expenditure exceeded expectations for the sixth consecutive year. Group-wide, net income rose 14.2% year-on-year to the ... Read the full article
Lloyd’s to report improved underwriting result but investments drive full year loss
8th March 2023
Lloyd's, the specialist insurance and reinsurance marketplace, is poised to report a better than expected combined ratio of 91.9% for full year 2022, although an investment loss of £3 billion is expected to result in a full year loss before tax. The world's oldest re/insurance marketplace is scheduled to release its ... Read the full article
L&G sees operating profit rise 12% to £2.5bn amid strong year for PRT business
8th March 2023
Legal & General has reported strong results for 2022, seeing operating profit rise 12% to £2.5bn, with an estimated Solvency II coverage ratio of 236%. Earning per share (EPS) also increased 12% from the previous year to 38.33p, while return on equity stood at 20.7%. L&G estimates that as of March 3rd, ... Read the full article
Hiscox reports best underwriting result since 2015
8th March 2023
Insurer and reinsurer Hiscox has today announced underwriting profit of $269.5 million for 2022, its highest since 2015, despite the impacts of elevated large natural catastrophes and man-made losses. Year-on-year, the underwriting result across the group improved by around $54 million, as the combined ratio strengthened from 93.2% in 2021 to ... Read the full article
Guidewire shrinks loss for fiscal Q2, grows revenues
7th March 2023
Guidewire Software, a platform provider for property and casualty re/insurers, has reported a net loss of $9.2 million for the second quarter of fiscal year 2023, compared with $40.7 million for the same period in the previous fiscal year. Similarly, the company’s loss from operations shrank from $39.5 million previously to ... Read the full article
IGI profits improve on premium growth and investments
3rd March 2023
IGI has reported profit of $85.5 million for 2022, nearly doubling its return from the previous year thanks to higher net premiums earned and investment income, together with a lower level of net claims and strong underwriting results. Core operating income was $94.4 million for the year, compared to $53.1 million ... Read the full article
UPC Insurance sees $294.9mn net loss in Q4
3rd March 2023
United Insurance Holdings (UPC Insurance) has reported a $294.9 million net loss for the fourth quarter of 2022, compared to a net loss of $2.3 million from the same period last year. UPC stated that were a number of drivers that contributed to the net loss, including unfavourable development related to ... Read the full article
Heritage reports net income & GWP increase in Q4
3rd March 2023
Heritage Insurance has reported a Q4 2022 net income of $12.5 million compared to a net loss of $49.2 million in the same quarter of 2021, primarily driven by a $60.5 million non-cash, substantially non-deductible, goodwill impairment charge taken in Q4 of 2021. According to Heritage, the goodwill impairment charge was ... Read the full article
Beazley improves UW result as profits dip on investments
2nd March 2023
Specialist insurer and reinsurer Beazley has reported a 48% dip in profits for 2022 as a poor investment performance offset improvements in its underwriting result. Beazley’s profit before tax for the year came to $191.0 million, compared with $369.2 million for 2021. This was due to a net investment loss of $179.7 ... Read the full article
SCOR posts FY net loss as nat cats, war & economic pressures cuff profitability
2nd March 2023
French reinsurer SCOR has reported a net loss of €301 million for the full year 2022, citing natural catastrophes such as Hurricane Ian and the hailstorms in France, as well as the war in Ukraine and ongoing macroeconomic pressures as key driving points. This net loss reported by SCOR compares with ... Read the full article
Investment volatility drives Enstar to $906m loss
1st March 2023
Enstar Group has reported a net loss of $906 million for 2022, after booking an investment segment loss of $1.3 billion due to volatility in the market. The company’s headline performance metric was much lower than the net earnings of $502 million that it posted for 2021, despite its run-off segment ... Read the full article
BRP’s annual loss widens, but organic growth up 23%
1st March 2023
Independent insurance distribution firm BRP Group has reported a loss of $76.7 million for the full year in 2022, as its performance worsened from the $58.1 million loss reported in 2021. This figure included an operating loss of $31.0 million, similar to the $31.6 million recorded previously. However, revenues increased by 73% ... Read the full article
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