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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.

FedNat posts $25mn Q3 loss as CR hits 165%

9th November 2021

FedNat has announced a net loss of $24.8 million in the third quarter, a further slide from the $20.7 million loss posted in the prior year period. Meanwhile, the company’s combined ratio reached 165.4%, driven primarily by 37.7 points of net catastrophe losses in the period. Losses and loss adjustment expenses (LAE) ... Read the full article

Munich Re sees Q3 profit rise despite cats denting its reinsurance result

9th November 2021

Global reinsurer Munich Re has reported an improved year-on-year profit for both the third quarter and first nine months of the year, of €366 million and €2.1 billion, respectively, although its property-casualty (P&C) combined ratio trended above 100% for the periods on the back of high catastrophe losses. For the quarter, ... Read the full article

Trisura Group’s Q3 net income rises 146% to C$16mn

9th November 2021

Specialty insurer Trisura has reported a third quarter net income of C$16.1 million, an increase of 145.7% against the prior year quarter thanks to strong underwriting in Canada, increasing fee income from the US, and appropriate asset liability matching in its reinsurance business. Gross and net written premiums grew by 68.9% ... Read the full article

Berkshire Hathaway announces $1.5bn Q3 reinsurance cat hit

8th November 2021

The reinsurance business of Warren Buffet-owned holding company Berkshire Hathaway has announced $1.5 billion in catastrophe-driven losses and loss provisions for 2021's third quarter, a figure that rises the firm’s overall losses and loss adjustment expenses by $442 million against the prior year quarter. Overall 9M cat losses of $1.9 billion ... Read the full article

Fairfax reports Q3 underwriting loss but net earnings rise to $462.4mn

5th November 2021

Fairfax Financial Holdings Limited has reported an underwriting loss of $46.5 million for the third quarter of 2021, driven by the impacts of Hurricane Ida in the U.S. and the European floods in July, partially offset by lower pandemic-related losses. The consolidated combined ratio of the insurance and reinsurance businesses totalled ... Read the full article

Heritage suffers Q3 net loss despite improved underwriting result

5th November 2021

Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, Inc., has fallen to a net loss of $16.4 million for the third quarter of 2021, while gross premiums written (GPW) declined by 1.5% to $274 million. The firm's Q3 net loss represents a deterioration from the $5.2 million net loss ... Read the full article

Alleghany reports $200mn Q3 underwriting loss, TransRe CR hits 116%

5th November 2021

Alleghany Corporation, parent company of TransRe, has reported an underwriting loss of $200 million for the third quarter, following a prior year period loss of $81 million. The firm’s combined ratio rose to 110.8%, having previously been reported at 105.2% in Q3 2020. Net premiums written increased 21.1%, with reinsurance (TransRe) up ... Read the full article

Beazley’s 9M 2021 GWP growth exceeds expectations

5th November 2021

Specialist insurer Beazley has reported higher than expected gross written premiums (GWP) for the first nine months of the year, as well as a year to date rate change of 23% across the business. For the nine month period ended September 30th, 2021, Beazley has announced GWP of roughly $3.3 billion, ... Read the full article

RGA falls to $22mn Q3 loss off COVID-19 claims

5th November 2021

Reinsurance Group of America, a US-based life reinsurer, has reported a third quarter net loss of $22 million, down from a $213 million net income in the prior-year quarter. Adjusted operating losses totaled $75 million, compared with adjusted operating income of $239 million in the prior period. Consolidated net premiums totaled $3.1 ... Read the full article

AXA reports total revenues of €76bn, strong price increases at AXA XL

5th November 2021

Global insurer and reinsurer AXA has reported a 7% rise in revenue to €76 billion for the first nine months of 2021, supported by growth of 5% within its property and casualty (P&C) operation. Within P&C, AXA has reported revenue expansion to €38.5 billion for the first nine months of the ... Read the full article

AIG’s net income hits $1.7bn as General Insurance CR strengthens

5th November 2021

Global insurer AIG has announced a significant rise in net income to $1.7 billion for the third quarter of 2021, driven primarily by net realised gains, a strong underwriting result in its General Insurance (GI) unit and lower losses from catastrophes. During the quarter, the firm's GI unit recorded adjusted pre-tax ... Read the full article

Allstate posts underwriting loss of $534m for Q3

4th November 2021

US primary insurer Allstate has posted an underwriting loss of $534 million during the third quarter of Q3, after incurring $1.27 billion of catastrophe losses for the period. Allstate warned ahead of the huge catastrophe loss bill last month, which included around $631 million of losses from Hurricane Ida, after ... Read the full article

Liberty Mutual Q3 income up 81.6% to $721m

4th November 2021

Liberty Mutual Holding Company has reported net income of $721 million for the third quarter of 2021, a figure that is 81.6% higher than was recorded in the same period last year. Looking at the first nine months of the year, net income totaled $2.35 billion, versus just $596 million for ... Read the full article

$196mn Q3 net loss for Enstar despite robust 9M

4th November 2021

Enstar Group has reported a consolidated net loss totalling $196 million for 2021’s third quarter, driven by a $285.2 million hit attributable to InRe Fund, a consolidated variable interest entity impacted by “significant” volatility in Chinese and other global equity markets Performance across the first nine months of 2021 is more ... Read the full article

Palomar’s underwriting loss narrows in Q3 as GWP swells 48%

4th November 2021

Specialty property insurer Palomar Holdings has returned to profit in the third quarter of 2021 with net income of $0.2 million compared with a loss of $15.7 million a year earlier, as the firm's underwriting loss narrowed in the quarter. During the period, Palomar has announced gross written premium (GWP) growth ... Read the full article

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