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.
Travelers starts 2024 with strong Q1 reporting net income of $1.123bn
17th April 2024
Primary insurance group Travelers has published its first quarter 2024 financial results, reporting 16% growth in net income despite an elevated level of catastrophe losses compared to the prior year quarter. The insurer saw its net income rise to $1.123 billion in Q1 2024, a figure that compares to the $975 ... Read the full article
Covéa’s 2023 net income improves amid positive reinsurance developments
17th April 2024
Covéa has reported a net income of €1.48 billion in 2023, up from €896 million in 2022, mainly driven by its reinsurance result, which was bolstered by the full-year integration of PartnerRe. Covéa's net income from reinsurance activities in 2023 was €1.08 billion, up from €857 million in the previous year. ... Read the full article
Conifer Holdings reports $143.8m GWP in FY23 results
8th April 2024
In their results for the full-year 2023, Conifer Holdings has reported a 4.2% increase in gross written premium (GWP), as it reached $143.8 million, compared to the previous year's $138 million. Net written premiums however, saw a 24.7% decline, coming in at $68.6 million for the period, compared to last year's ... Read the full article
Rothesay secures £12.7bn in new business premiums in 2023
5th April 2024
In their latest trading update, Rothesay, a prominent UK pensions insurance specialist, completed de-risking transactions with twelve pension schemes during 2023, resulting in new business premiums of £12.7 billion, a substantial increase from £3.3 billion in 2022, ultimately making 2023 one of the firm's "strongest years of growth to date." The ... Read the full article
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article
CCR Re’s profitable growth continues despite elevated nat cat costs in 2023
2nd April 2024
French reinsurer CCR Re has reported a 2.1 percentage point improvement in its combined ratio for 2023 to 96.6%, despite the cost of natural catastrophes, net of retrocession, rising by €53 million year-on-year to €88 million. Gross, natural catastrophe costs reached €117 million for CCR Re in 2023, a significant rise ... Read the full article
Aspen’s 2023 net income hits $485m, CoR improves to 87.5%
2nd April 2024
Aspen has revealed that net income available to ordinary shareholders increased significantly in 2023, climbing to $485 million, while its combined ratio improved 5.5 points to 87.5%. Meanwhile, Aspen's underwriting result for the full year 2023 improved by $136 million to $327 million. The firm explained that the increase was driven by ... Read the full article
Peak Re sees record profit in 2023, P&C underwriting CoR drops to 87.3%
28th March 2024
Hong Kong-based global reinsurer Peak Re is expected to post a record net profit of $200 million for 2023, despite the year being characterised by high inflation, rising interest rates and a continuation of costly natural catastrophe events. According to the Fosun annual results which includes unaudited figures for Peak Re, ... Read the full article
The Ardonagh Group sees reported income rise 33.5% in 2023
28th March 2024
Independent insurance broker The Ardonagh Group has seen a rise in full year 2023 reported income when compared with the prior year to $1.6 billion, as reported adjusted EBITDA increased 42.5% to $522 million. For 2023, the broker has reported pro forma income of $1.9 billion and pro forma adjusted EBITDA ... Read the full article
Lloyd’s reports underwriting income of £5.9bn for FY’23, strongest CoR since 2007
28th March 2024
Lloyd’s, the world’s oldest marketplace for insurance and reinsurance, has today reported a strong set of results for 2023 which includes a 127% year-on-year rise in underwriting income to £5.9 billion, which contributed to a 7.9 percentage point improvement in the combined ratio to 84%. The considerable strengthening of the combined ... Read the full article
Oxbridge Re reports $9.9m net loss in fiscal year results
27th March 2024
Oxbridge Re Holdings has reported a net loss of $9.9 million for fiscal year 2023, compared to net loss of $1.8 million in the prior year. For the year ended December 31, 2023, Oxbridge Re's net premiums earned increased to $1,255,000 from $995,000 in the prior year. Loss ratio sat at 0% ... Read the full article
Brit reports improved combined ratio of 76.2% for 2023
27th March 2024
Brit Ltd., a global speciality re/insurer and subsidiary of Fairfax Financial Holdings Limited, has reported a combined ratio for the full year 2023 for continuing business after discounting of 76.2%, a solid improvement on 2022’s 88.5%, as the insurance operating result strengthened year-on-year. For 2023, group profit after tax (including discontinued ... Read the full article
HDI Global’s insurance revenue climbs 10% to €9.1bn in 2023, CoR lands at 91.5%
26th March 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has reported insurance revenue increased by 10% in 2023, reaching €9.1 billion, while its combined ratio improved to 91.5%. HDI Global noted that the growth in insurance revenue was primarily driven by the property and liability business, which resulted in an ... Read the full article
PartnerRe reports 2023 combined ratio of 81.6% amid GPW growth
26th March 2024
Bermuda-based reinsurer PartnerRe Ltd. has announced a non-life combined ratio of 81.6% for full year 2023, as the underwriting result hit $1.1 billion, while the life and health (L&H) allocated underwriting result amounted to $159 million. On the back of a solid performance in both segments, PartnerRe has generated net income ... Read the full article
Nationwide scores record sales, as rates and underwriting drive strong Q4’23
25th March 2024
Columbus-domiciled Nationwide, a diversified financial services and insurance company in the United States, has achieved record-level sales for the third consecutive year in a row. The insurer stated that significant rate and underwriting actions drove a strong Q4 2023 and will accelerate the company’s performance into 2024. The record sales in 2023 ... Read the full article