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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.

Global Indemnity hits record premium levels, but CR slips

5th August 2021

Property and casualty insurer Global Indemnity recorded gross written premiums (GWP) of $338.8 million over the first six months of 2021, the highest level for any six-month period since the company became publicly traded. Despite the 5.8% increase in GWP, underwriting income over the H1 period totalled just $0.3 million, compared ... Read the full article

Lemonade reduces quota share reinsurance program

5th August 2021

Insurtech start-up Lemonade has made a reduction in its quota share reinsurance program, lowering it from the previous 75% to 70%. Last year, Lemonade transitioned to a quota share program and agreed to cede 75% of its premium to a panel of reinsurers, with the firm retaining 25%. Following the impacts of ... Read the full article

BGC reports record revenues for pending-sale Corant unit

5th August 2021

Global brokerage and financial technology firm BGC Partners has reported total revenue of $512.5 million during the second quarter of 2021, helped by record revenue generation in its insurance broking unit, Corant. BGC agreed to sell its Corant unit, comprising Ed Broking Group and Besso Insurance, to The Ardonagh Group ... Read the full article

Palomar reports steady net income for Q2

5th August 2021

Specialty property insurer Palomar Holdings has reported a net income of $12.3 million for the second quarter of 2021 as compared to $12.0 million for the same prior year period. The insurer's gross written premiums have also increased by 54.4% to $129.4 million in the second quarter, compared to $83.8 million ... Read the full article

Allstate’s Q2 net income reaches $1.6bn

5th August 2021

Allstate has announced a second quarter net income applicable to common shareholders of $1.6 billion, up from the $1.2 billion announced in the prior year quarter. This upswing was primarily driven by higher performance-based investment income results. Adjusted net income of $1.1 billion, increased $333 million compared to the prior year quarter. Allstate ... Read the full article

United (UPC Insurance) falls to Q2 net loss as reinsurance changes take hold

5th August 2021

United Insurance Holdings Corp. has reported a net loss for the second quarter of 2021 of $23.5 million, driven by a reduction in revenue during the period as the firm's ceded premiums earned spiked on the back of changes made to its reinsurance use. This quarterly loss compares with net income ... Read the full article

Hannover Re’s H1 profit rises as P&C result offsets COVID losses in L&H

5th August 2021

Global reinsurer Hannover Re has reported Group net income of €670.6 million for the first half of 2021, supported by a significant improvement in the performance of its property and casualty (P&C) business, somewhat offset by COVID-19 losses of €236.4 million in its life and health (L&H) operation. For H1 2021, ... Read the full article

Verisk insurance revenues up 11.8% in Q2

4th August 2021

Data analytics provider Verisk has reported overall revenue growth of 10.1% to $747.5 million during the second quarter of 2021, boosted by revenue growth of 11.8% in its insurance segment. Underwriting and rating revenues increased 11.2% in the quarter, resulting from annual increases in prices following enhancements to the content of ... Read the full article

Universal CEO says insurer is hyper-focused on driving more primary rate

4th August 2021

Florida headquartered insurer Universal is said to be hyper-focused on driving more primary rate into its portfolio, according to Chief Executive Officer Steve Donaghy. Speaking at a recent earnings call, Donaghy described how the two pillars of price and exposure discipline, along with recent property insurance legislation in Florida and a ... Read the full article

Greenlight Re returns to underwriting profitability

4th August 2021

Greenlight Capital Re has reported its Q2 2021 financial results, showing an underwriting income of $4.562 million compared to a loss of $1.306 million for the prior year period. Its combined ratio came in at 96.5%, an improvement from 101.2% last year. The higher underwriting income was due primarily to the ... Read the full article

Markel’s H1 income rises to $1.2bn as CR strengthens to 90%

4th August 2021

Markel Corporation has reported comprehensive income of approximately $849.7 million for the second quarter of 2021 and a lower combined ratio of 87%, which reflects a lower current accident year loss ratio. Year-on-year, Markel's Q2 2021 income did fall from the $1.1 billion announced in Q2 2020. Although, net income for ... Read the full article

RGA announces higher income in 2021 as COVID-19 claims subside

4th August 2021

Global life reinsurance carrier, Reinsurance Group of America, Incorporated (RGA), has reported a higher net income, year-on-year, for both the second quarter and first half of the year, while premiums increased by 11% to $3.1 billion. Overall, RGA has announced net income of $344 million for Q2 2021, compared with $158 ... Read the full article

WTW reports increased income, revenue for second quarter

3rd August 2021

Re/insurance broker Willis Towers Watson has announced second quarter net income of $186 million, up from the $102 million reported in the prior year period. Revenue was $2.29 billion, an increase of 8% from the $2.11 billion reported a year ago. Adjusted operating income was $409 million, or 17.9% of revenue, an ... Read the full article

European storms weigh on Generali’s H1 P&C results

3rd August 2021

Generali has recorded a 3.6% decrease in its property and casualty (P&C) operating result for the first half of 2021, after booking €218 million of natural catastrophe claims during the period. This compares with €118 million of claims for H1 2020, as losses this year were boosted by a storm in ... Read the full article

Argo reports highest operating income in ten years

3rd August 2021

Argo Group has reported second quarter net income attributable to common shareholders of $67.1 million, up from the $5.4 million reported in the prior year period. Operating income in the second quarter was $56.1 million compared to an operating loss of $3.6 million last year. Gross written premiums increased 2.0% to $815.3 ... Read the full article

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