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.
North America P&C sector results improve despite cat losses: Fitch
5th April 2019
North American property and casualty (P&C) re/insurers generated improved operating returns and underwriting profits in 2018, according to Fitch Ratings. Analysis of 48 P&C re/insurers’ results showed that performance across the sector improved despite a second consecutive year of higher than average catastrophe losses. Insured cat losses represented 5.0% of aggregate net ... Read the full article
Cats drive £1 billion market loss at Lloyd’s for 2018
27th March 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced an aggregated market loss of £1 billion for 2018, driven by a volatile investment environment and a costly year for natural catastrophe events. The £1 billion aggregated market loss compares with a loss of £2 billion a year earlier. A ... Read the full article
Munich Re reports solid 2018 result, raises 2019 profit guidance
20th March 2019
Global reinsurance giant Munich Re has announced 2018 profit of €2.275 billion, helped by an improved result in its property and casualty (P&C) reinsurance segment. The €2.275 billion is a substantial jump from the €392 million recorded a year earlier. Munich Re's operating profit for 2018 reached €3.725 billion, as gross ... Read the full article
Talanx results robust despite heavy Q4 nat cat losses
18th March 2019
Despite heavy fourth quarter catastrophe losses, Hannover Re parent company The Talanx Group’s overall combined ratio for 2018 showed a 2.2% year-on-year improvement, reaching 98.2%. The Group's operating profit for Q418, which in particular saw a big hit from the Californian wildfires, slid -20.1% to €562 million. Gross written premiums for the ... Read the full article
BMS annual revenues exceed £100m
13th March 2019
Independent specialist re/insurance broker BMS has revealed that its annual revenues for the first time exceeded £100 million in 2018. Overall revenue grew by 25% while BMS’s London wholesale business posted 32% growth. BMS’s reinsurance division achieved an 18% revenue increase. “This remarkable result belongs to BMS staff, who have driven our ... Read the full article
Hannover Re’s net income climbs in 2018 despite challenges
7th March 2019
Reinsurance giant Hannover Re has reported net income of €1.06 billion for 2018, up 10.5% year-on-year as the firm achieved solid results in spite of challenging conditions and high levels of catastrophe losses. During 2018, the reinsurer increased its gross premiums by 7.8% to €19.2 billion, with growth occurring in both ... Read the full article
RSA confident of improvements in 2019 as underwriting action continues
4th March 2019
RSA Group saw its underlying results decline in 2018 when compared with the previous year, but the firm remains confident it can bounce back in 2019 as it embarks on further, extensive underwriting action. Despite reporting an underlying dip in results, RSA remained profitable in 2018, posting a pre-tax profit of ... Read the full article
Hurricane Michael drives Q4 loss for FedNat while Irma estimate rises
28th February 2019
FedNat Holding Company has reported a net loss of $9.3 million for the fourth-quarter of 2018, which includes a $23.7 million pre-tax catastrophe hit, mostly driven by Hurricane Michael. Overall, Hurricane Michael resulted in a gross loss of $275 million for the firm, with its net loss hitting $23 million. The ... Read the full article
Greenlight Re maintains optimism despite weak financial performance in 2018
28th February 2019
The impact of Hurricane Michael and the California wildfires, combined with a testing investment environment has resulted in a $80.8 million Q4 2018 net loss for hedge fund backed reinsurer Greenlight Capital Re. The $80.8 million fourth-quarter 2018 net loss compares to a $37.7 million net loss for the same period ... Read the full article
Poor investment result, modest cat losses drive significant 2018 loss for Third Point Re
28th February 2019
Bermuda-based, hedge fund backed reinsurer Third Point Re has reported a net loss for both the fourth-quarter and full-year 2018, driven by a poor investment performance and modest catastrophe losses. For Q4, Third Point Re recorded a net loss of $298 million, driven by a $278 million net investment loss and ... Read the full article
JLT reports organic growth across all divisions in 2018
26th February 2019
Global insurance and reinsurance broker, JLT Group recorded organic revenue growth across all divisions year-on-year, leading to a 21% rise in trading profit in 2018. In light of JLT's takeover by MMC, expected to close in spring of this year, the firm has released preliminary financial results for 2018, which includes ... Read the full article
QBE returns to profit on lower cat impact & improved attritional claims ratio
25th February 2019
QBE Insurance Group Limited has reported a net profit after tax of $390 million (which includes $567 million of profit from continuing operations) for 2018 compared with a loss of $1.3 billion in 2017, driven by a significantly improved attritional claims experience as well as a reduced level of catastrophe ... Read the full article
London Market discipline pays back Hiscox in 2018
25th February 2019
Hiscox has reported that its profit before tax increased substantially in 2018 to $137.4 million despite the impacts of catastrophes on its reinsurance and insurance-linked securities (ILS) business, driven mainly by the improved performance of its London Market operations. Overall, Hiscox saw its profit increase three-fold to more than $137 million ... Read the full article
Catastrophes drive $132mn full-year loss for PartnerRe
22nd February 2019
The impact of catastrophe events in the third and fourth-quarter of 2018 significantly dented the 2018 underwriting result for Bermuda-based reinsurer PartnerRe, with the firm recording a net loss of $132 million for the year. The $132 million net loss compares with net income of $218 million in 2017, and is ... Read the full article
TransRe cat losses drive full year underwriting loss for Alleghany
21st February 2019
Investment holding company Alleghany Corporation has posted an underwriting loss of $161.5 million for the full-year 2018, which was partially driven by catastrophe losses incurred by its reinsurance arm, Transatlantic Reinsurance Company (TransRe). TransRe experienced $500.1 million of catastrophe losses in 2018, of which $167.2 million was attributable to Typhoon Jebi, ... Read the full article
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