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.

Tokio Marine’s FY21 Q1 international profits jump $358mn

10th August 2021

Overall profits from the international operations of re/insurance holding company Tokio Marine rose by $358 million to $526 million in the first quarter of 2021's financial year. ​​Year on year, profits rose primarily due to a reversal from COVID-19's effects but was impacted by $133 million in natural catastrophe costs. The firm expects to ... Read the full article

Munich Re’s profit rises to €1.1bn despite higher than expected COVID impact

10th August 2021

Global reinsurer Munich Re has announced profit of €1.1 billion for the second quarter of 2021, as profits improved in both its property and casualty (P&C) and life and health (L&H) reinsurance segments despite ongoing losses related to the COVID-19 pandemic. The company's reinsurance operation contributed €951 million to the consolidated ... Read the full article

Suncorp sees 42% FY21 earnings boost

9th August 2021

Australian insurer Suncorp has announced a FY21 result with cash earnings of AUD $1,064 million, up 42.1% from the prior year period. Group net profit after tax increased by 13.1% to $1,033 million. The improvement in cash earnings was driven by increased Profit After Tax in Insurance Australia of 42.4% and Suncorp ... Read the full article

Berkshire Hathaway’s reinsurance arm falls to Q2 loss, but P&C result improves

9th August 2021

Berkshire Hathaway has reported a dip in net underwriting profit for the second quarter of 2021, as earnings at GEICO and Berkshire Hathaway Primary Group more than offset an underwriting loss at its reinsurance division. Across the Group, underwriting income fell by more than 53%, year-on-year, from $806 million to $376 ... Read the full article

Athene income surges on investment result

6th August 2021

Financial services company Athene has reported net income of $1.38 billion for the second quarter of 2021, compared with $824 million for the same period last year. The company attributed the surge to higher adjusted operating income and a favorable change in the net fair value of fixed indexed annuity (FIA) ... Read the full article

White Mountains income boosted by “solid” quarter for Ark

6th August 2021

Bermuda domiciled financial services holding company White Mountains Insurance Group has reported comprehensive income of $139 million for the second quarter of 2021, up from $116 million for the same period last year. Results were boosted by a "solid" performance at Ark, which was acquired by White Mountains in January, and ... Read the full article

HCI announces premium growth of almost 8% in Q2 2021

6th August 2021

Florida-based insurtech HCI Group has reported a dip in net income for the second quarter of 2021 to $3.8 million when compared with the prior year period, as its consolidated gross written premiums (GWP) climbed by 7.6% to $185 million. Q2 2021 net income fell from the $8.9 million reported a ... Read the full article

Heritage takes Q2 loss after heavy weather costs

6th August 2021

Super-regional property and casualty insurance holding company Heritage has fallen to a Q2 loss of $4.0 million, after taking $35.5 million of weather losses in the quarter. Up from $26.8 million in the prior year quarter, the current accident quarter weather losses include $24.5 million of net catastrophe losses, up from ... Read the full article

Allianz sees Q2 net income hit €2.2bn as P&C underwriting improves

6th August 2021

Global insurer Allianz has announced a 46% rise in net income for the second quarter of 2021 to €2.2 billion, driven by an increase in operating profit across all of its business segments when compared with the prior year period. Solid growth across the business in Q2 2021 has resulted in ... Read the full article

TransRe’s solid underwriting performance boosts Alleghany in 2021

6th August 2021

Alleghany Corporation has reported a return to underwriting profitability across its business for the second quarter of 2021, driven by a strong year-on-year turnaround in the performance of its reinsurance operation, TransRe. Overall, Alleghany has announced underwriting profit of $174 million for Q2 2021 and a combined ratio of 90.2%, compared ... Read the full article

SiriusPoint improves CR amid remediation drive

6th August 2021

SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has reported net income of $64.5 million in the second quarter of 2021. The company also improved its combined ratio to 92.8%, from 99.8% in Q2 of 2020, as it focused on remediation and ... Read the full article

AIG reports Q2 net income of $91mn; solid GI underwriting result

6th August 2021

American International Group, Inc. (AIG) has reported net income of $91 million for the second quarter of 2021 versus a loss of $7.9 billion a year earlier, supported by a strong underwriting result in General Insurance (GI), lower cat losses, and higher investment income. The main driver of the improvement is ... Read the full article

Trisura’s H1 income exceeds full-year 2020 result

6th August 2021

International specialty insurance holding company Trisura Group has seen its net income soar by 156.4% to $16.9 million during the second quarter of 2021. The performance was driven by strong growth and underwriting in Canada, growing profitability in the US, improved asset liability matching in the company’s reinsurance business, and investment ... Read the full article

James River improves CR despite income slump

5th August 2021

James River Group Holdings, the Bermuda-based insurance holdings company, has posted net income of $20.8 million during the second quarter of 2021, down from $35.6 million for the same period last year. However, on an adjusted basis, net operating income improved by 8% to $18.8 million, and the company’s combined ratio ... Read the full article

Liberty Mutual reports $769mn Q2 net income

5th August 2021

Liberty Mutual Holding Company and its subsidiaries have reported a second quarter net income of $769 million, against a net loss of $320 million registered in the prior year quarter. The quarter's results are said to have benefited from continued strong performance within the company’s investment portfolio, which generated $1.4 billion ... Read the full article

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