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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.

Brookfield Reinsurance secures Q2 net income of $2mn

16th August 2021

Brookfield Reinsurance has announced a second quarter net income of $2 million, up from the $1 million loss reported for the prior year quarter. The increase in net income is attributed to additional assets under management and stronger investment returns. At quarter end, The group held $1.1 billion in excess capital, which ... Read the full article

Midwest Holdings reports improvement in Q2 net income

13th August 2021

Midwest Holding Inc. has announced a GAAP net loss of $5 million for the second quarter of 2021 against a loss of $16.6 million for the prior year period, as the firm continues to advance its reinsurance pipeline. Alongside the year-on-year improvement in net income, Midwest has reported a rise in ... Read the full article

IGI posts improved Q2 net profit of $5.6mn

13th August 2021

IGI has announced a second quarter net profit of $5.6 million, compared to a net profit of $12 million in the prior year period. Core operating income stood at $9 million and $10.3 million for Q220 and Q221, respectively. The lower core operating income is primarily the result of a 6-point increase ... Read the full article

Cincinnati Financial posts $703mn net income for Q2

13th August 2021

Primary insurer Cincinnati Financial has reported a net income of $703 million for the second quarter of 2021, compared with $909 million for the same prior year period. The insurer reported a $206 million decline in income for the second quarter primarily due to the after-tax net effect of a $427 ... Read the full article

Trean reports $156m GWP for Q2

12th August 2021

Insurance management and reinsurance consulting company Trean Insurance Group has posted its gross written premiums (GWP) at $156.6 million for the second quarter of 2021, compared to $109.6 million for the same prior year period. This increase in GWP was due to the growth in Trean’s existing program partner business, along ... Read the full article

Conifer Holdings posts $35mn GWP for Q2

12th August 2021

Conifer Holdings has reported its gross written premiums for the second quarter of 2021 increased to $34.9 million compared to $27.5 million for the same prior year period. This increase was the result of growth in both Commercial and Personal Lines business as general economic and business conditions began to improve ... Read the full article

QBE posts net profit of $441m for H1

12th August 2021

Global insurer QBE has reported its net profit for the first half of 2021 came in at $441 million, compared with a net loss of $712 million for the prior year period. The rebound in profit reflects the groups turnaround in both underwriting and investment returns. On a constant currency basis, gross ... Read the full article

Zurich profit rises 60% to $2.7bn, says European floods to dent full-year

12th August 2021

Global insurance and reinsurance group Zurich has reported a 60% increase in its first-half operating profit, which came out at $2.7 billion for H1 2021. This was supported by strong performance in Zurich's property and casualty division, which reported a 93.9% combined ratio, a level that the company said it has ... Read the full article

IAG falls to AU$427mn net loss in FY21

11th August 2021

Australian insurer IAG has reported a net loss of $427 million for the 12 month period ending June 30 2021, down considerably from the $435 million profit announced in FY20. The company highlights significant one-off corporate expenses mainly relating to business interruption, customer refunds and payroll remediation as having impacted its ... Read the full article

Hannover Re parent Talanx reports €24bn GWP for H1

11th August 2021

Hannover Re's parent company Talanx has reported €24.1 billion gross written premiums for the first half of 2021, compared to €22 billion for the same prior year period. The group’s net income rose to €546 million from €325 million in the first half of 2020. Although the net income was impacted by ... Read the full article

Maiden grows Q2 income to $26.8mn

11th August 2021

Bermuda-based Maiden Holdings has reported net income of $26.8 million for the second quarter of 2021, up from $9.2 million for the same period last year. This was partly due to a return to underwriting profitability, as the company moved from an underwriting loss of $17.0 million in Q2 2020 to ... Read the full article

BRP books Q2 loss despite strong organic growth

11th August 2021

Independent insurance distribution firm BRP Group has reported a net loss of $20.1 million for the second quarter of 2021, following a loss of $7.9 million in the same period last year. BRP turned a loss despite increasing its revenue by 133% year-over-year to $119.7 million, including organic revenue growth of ... Read the full article

MS Amlin posts £20mn adjusted profit for FY21 Q1

10th August 2021

MS Amlin’s adjusted profit in the first quarter of 2021’s financial year was £20 million, up by £156 million from the prior year period. This increase is reportedly due to the elimination of COVID-19 effects on both the underwriting and investment. Concurrently, the company registered a £49 million net loss, an improvement ... Read the full article

FedNat falls to $50mn net loss in Q2

10th August 2021

Florida based primary insurer FedNat has posted a net loss of $50.4 million for the second quarter of 2021, as its performance was impacted by catastrophe losses such as Winter Storm Uri as well as higher reinsurance costs. The net loss was driven by approximately $34.2 million of current quarter net ... Read the full article

Sompo Intl adjusted profit reaches $128mn in Q1 FY21

10th August 2021

Sompo International has reported an adjusted profit of $128 million in the first quarter of 2021’s financial year, up from the $49 million hit in the prior year period. Meanwhile, gross premium written increased to $2.7 billion from $2.5 billion in the prior year period. This increase was primarily due to rate ... Read the full article

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