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.

Conduit Re posts small underwriting gain as investment loss dents 2022 performance

22nd February 2023

Bermuda-based reinsurer Conduit Re has reported a comprehensive loss of $89.7 million for the year ended December 31st, 2022, as an investment loss of $52.8 million more than offset a slight underwriting gain in the period. The company's loss actually widened from the -$42 million reported a year earlier, while the ... Read the full article

Kuwait Re grows profits by 25% in 2022

20th February 2023

Kuwait Reinsurance Company K.S.C.P (Kuwait Re) has reported net profit after tax of US $26.03 million for the year 2022, an increase of 25% as compared to $20.85 million in the previous year. The company’s underwriting results also improved by 20% during this time, ending the year at $25.28 million, versus ... Read the full article

Allianz Asia Pacific reports resilient FY results amid “turbulent global economy”

20th February 2023

Allianz Asia Pacific has reported that full year Property & Casualty operating profits were up 8% to €141 million, with total revenues up 17% to €1.7 billion. According to Aaron Fryer, Regional Chief Financial Officer, Allianz Asia Pacific, this was spearheaded particularly by strong growth in China, Malaysia, Singapore, and Thailand. Allianz ... Read the full article

American Equity sees net loss of $29.4m in Q4

17th February 2023

Life and annuity insurer American Equity (AEL) has reported Q4 2022 net loss available to common stockholders of $29.4m in Q4 2022, compared to a net income of $82.2m, for Q4 of 2021. AEL also announced it had ceded $352m of flow reinsurance to Brookfield Re and $4.3bn of GAAP reserves, ... Read the full article

Corebridge Financial reports $0.6bn net loss in Q4

17th February 2023

Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the US, has reported a net loss of $0.6bn in its Q4 2022 results, a 118% decrease compared to the prior year quarter. According to the company, the change was largely driven by $3.0bn of gains recorded ... Read the full article

Brit reports “robust” underwriting result in 2022 despite major loss events

17th February 2023

Specialty re/insurer Brit has published its full year results for 2022, reporting a “strong and robust” underwriting result with a profit of $95.4m with a combined ratio of 96.6%, compared to the $90.6m reported in 2021 with a combined ratio of 95.7%. This is the second consecutive year the insurer has ... Read the full article

Fairfax Financial’s gross premiums rise in 2022 earnings

17th February 2023

Fairfax Financial Holdings has reported fiscal year 2022 net earnings of $1,147.2 million, compared to 2021’s $3,401.1 million. However, gross premiums written for the fiscal year rose to $27,912.6 million, from 2021’s $23,910.2 million. For the fiscal year, net premiums written by its property and casualty (P&C) insurance and reinsurance operations increased ... Read the full article

Kin Insurance reports 117% rise in GWP in full-year results

17th February 2023

Homeowners insurtech Kin Insurance has reported gross written premium (GWP) of $227.5 million in its full-year results, representing a 117% increase in year-over-year growth from 2021’s $104.8 million. Gross profit for the full-year was $68.2 million, which represents 130% growth compared to $29.6 million from 2021. Adjusted loss ratio on the Kin ... Read the full article

QBE reports FY net profit of $770m, cites resilient underwriting performance

17th February 2023

Australian headquartered insurer QBE has reported a net profit of $770m in its full year 2022 results, a $20m increase from the previous year. Adjusted cash profit after tax increased to $847m from $805m in 2021, resulting in an adjusted cash return on equity of 10.5%. QBE states that despite heightened inflation, ... Read the full article

Allianz reports 5.7% operating profit growth for 2022

17th February 2023

Allianz has reported a 5.7% increase in operating profit for 2022, ending the year at €14.2 billion as improved performance in both its property and casualty (P&C) and life and health (L&H) segments boosted results. Operating profit for the P&C segment rose by a 8.4% to €6.2 billion over the year, ... Read the full article

Swiss Re reports dip in net income amid economic inflation & large nat cats

17th February 2023

Global reinsurance giant Swiss Re has today announced net income of $472 million for the full year 2022 compared with $1.4 billion a year earlier, as the impact of economic inflation on expected claims impacted its P&C businesses, and large natural catastrophe losses exceeded expectations at $2.7 billion. The group's full ... Read the full article

Palomar sees GWP increase by 64.8% to $882m in full year results

16th February 2023

California-headquartered specialty insurer Palomar Holdings has reported that 2022 full year gross written premiums increased by 64.8% to $881.9m compared to $535.2m in 2021. Palomar's net income for the full year was $52.2m compared to $45.8m in 2021, with an adjusted net income of $71.3m, in contrast to $52.4m in 2021. Net ... Read the full article

AIG’s General Insurance arm delivers strongest ever underwriting profit in 2022

16th February 2023

Global re/insurer AIG has achieved record underwriting profitability within its General Insurance (GI) division for the full year 2022 to $2 billion, which alongside net realized gains on Fortitude Re funds withheld embedded derivative, contributed to a rise in net income to $10.2 billion for the year. At the same time, ... Read the full article

B.P. Marsh reports NAV increase in latest update

14th February 2023

Venture capital provider B.P. Marsh has reported Net Asset Value (NAV) of £179.8 million for 31 July 2022, compared to £166.6 million at 31 January 2022. In a statement, B.P. Marsh singled out a number of its investment companies, saying that Kentro's performance remains strong across both Nexus Underwriting Limited, the ... Read the full article

Sompo Intl. reports positive Q3 underwriting result despite Hurricane Ian’s impact

14th February 2023

Sompo International has published its third-quarter of the 2022 financial year results reporting an underwriting income of $256m, a lower figure compared to the same period last year, which was $275m. The firm’s 3Q results felt the impact of Hurricane Ian, but was partially offset by top-line growth, Sompo noted. It ... Read the full article