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.

Skyward reports $20m net income and improved combined ratio

1st March 2023

P&C insurer Skyward Specialty has reported a “strong” 2022 fourth quarter, with a net income of $20.4 million and an improved combined ratio of 92.4%. These figures compared to $1.3 million of net income reported in the fourth quarter of 2021, and a combined ratio of 106.8%. Gross written premiums (GWP) increased ... Read the full article

Verisk sees rise in net income from continuing operations in Q4

1st March 2023

Insurance and analytics provider Verisk has reported income from continuing operations of $215.8 million for the fourth quarter of 2022, a rise of more than 82% from the $118.3 million reported a year earlier. Verisk attributes the year-on-year rise in net income from continuing operations to an impairment loss incurred in ... Read the full article

Trisura falls to Q4 loss on write down of reinsurance recoverables

1st March 2023

Specialty insurer Trisura Group has reported a net loss of $40.3 million for the fourth quarter of 2022 due in large part to a $81.5 million write down of reinsurance recoverables relating to a contract dispute. Trisura explained that it had a “disagreement over obligations” under one particular quota share reinsurance ... Read the full article

Probitas Lloyd’s Syndicate 1492 reports 27% rise in GWP to £234m

1st March 2023

Probitas Syndicate 1492 has reported that underwriting year gross written premium grew over 27% from £183m in 2021 to £234m in 2022, with a further 16% pre-emption for 2023 to £271m. Probitas also announced a 2022 GAAP year NCOR (net combined operating ratio) of 78.6% and profit before tax of £30.1m. This ... Read the full article

Ryan Specialty reports organic revenue growth of 10.3% for Q4 2022

1st March 2023

Global specialty insurer Ryan Specialty Holdings, Inc. has reported revenue growth of 14.9% in the fourth quarter of 2022 to $435 million, as net income increased by almost 55% to $45.8 million, compared with $29.6 million a year earlier. The organic growth rate for the quarter was 10.3%, down from 15.4% ... Read the full article

James River reports $15mn net income in Q4

28th February 2023

Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has reported a total net income of $15.1 million for the fourth quarter of 2022, compared to a $66.3 million net loss from the prior year quarter. Adjusted net operating income for Q4 was $20.2 million, representing a substantial improvement from ... Read the full article

Tower reports solid Q1 despite impact of natural catastrophes

28th February 2023

New Zealand insurer Tower Limited has reported solid growth in Q1 of the 2023 financial year as the company remains resilient following the Auckland & Upper North Island Weather Event, and Cyclone Gabrielle. In the three months to 31 December 2022, Tower recorded gross written premium (GWP) of $123 million, representing ... Read the full article

Argo Group reports $112m net loss in Q4

28th February 2023

Bermuda-based Argo Group International Holdings, Ltd. has reported a net loss of $111.8m for the fourth quarter of 2022, compared with a loss of $117.8m a year earlier. The company’s gross written premiums (GWP) narrowed to $644.5m, with an underwriting loss of $133.8m. In Q4 2021 Argo Group reported GWP earnings ... Read the full article

Berkshire Hathaway reports underwriting loss for 2022 but reinsurance result improves

25th February 2023

Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported an underwriting profit of $244 million across its insurance and reinsurance operations for the fourth quarter of 2022, although for the full year 2022, insurance underwriting generated a loss of $90 million. The after-tax loss for the year compares with an ... Read the full article

Universal reports $25m net income in Q4

24th February 2023

Universal Insurance Holdings has reported a net income of $25.1 million for the fourth quarter of 2022, up from a net loss of $48.1 million in the prior year quarter. The company also reported an adjusted net income of $22.1 million, up from adjusted net loss of $47.8 million in the ... Read the full article

SiriusPoint reports FY net loss as it continues pull from cat exposed business

24th February 2023

Bermuda-headquartered re/insurer SiriusPoint has reported a full year net loss of $403 million, with a net loss in Q4 alone of $27 million. The firm's combined ratio for the year sat at 96.4%, down from 109.1% in 2021, while full year underwriting income was $83 million, compared to an underwriting loss ... Read the full article

Liberty Mutual sees dip in net income in Q4 results

23rd February 2023

Liberty Mutual Holding Company Inc., (LMHC) and its subsidiaries has reported net income attributable to LMHC of $612 million for the fourth quarter of 2022, a 15.2% decrease from $722 million from the prior year quarter. Net written premium (NWP) for the quarter was $11.524 billion, representing a 4.5% rise from $11.028 billion ... Read the full article

Lemonade posts 64% top line growth in Q4, as loss ratios improve

23rd February 2023

Lemonade has reported a 64% increase in in-force premium for the fourth quarter of 2022, alongside improvements in its loss ratios and a narrower net loss. Premiums totalled $625.1 million at the end of Q4, with Lemonade attributing the increase to a 27% increase in the number of customers as well ... Read the full article

AXA grows earnings by 4% despite move away from nat cat

23rd February 2023

Global insurer AXA has reported a 4% increase in underlying earnings for 2022, which finished the year at €7.3 billion and were boosted by growth in the company’s Property and Casualty (P&C) segment despite significant reductions in natural catastrophe exposure for AXA XL Reinsurance. The firm said earnings reflected higher investment ... Read the full article

Munich Re exceeds profit guidance in 2022 as premiums swell

23rd February 2023

German reinsurer Munich Re has exceeded its profit guidance for 2022 with a result of €3.4 billion, as the reinsurance division performed well despite the impacts of large losses and the war in Ukraine. Group-wide, profit increased from more than €2.9 billion in 2021 to just over €3.4 billion, beating the ... Read the full article