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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.

Greenlight Re falls to nat cat-driven $14mn Q3 net loss

4th November 2021

Hedge fund-backed reinsurer Greenlight Re has announced a net loss for the third quarter of 2021 of $13.9 million, compared to a $2.2 million income in the prior year quarter. An underwriting loss of $12.6 million was driven by costs of $25.9 million associated with Hurricane Ida, the European floods and ... Read the full article

Hannover Re’s 9M net income hits €856m despite above-budget major losses

4th November 2021

Global reinsurer Hannover Re has reported a 28% rise in net income for the first nine months of 2021 to €856 million, despite catastrophe losses in the third quarter pushing the firm's major loss expenditure above budget. Across the business, gross written premium (GWP) increased by 12% in the first nine ... Read the full article

Lancashire P&C reinsurance premiums up 85%

4th November 2021

Lancashire Holdings Limited has reported gross written premiums (GWP) of $503.4 million within its property and casualty (P&C) reinsurance segment for the first nine months of 2021. This is $231.7 million, or 85.3%, higher than the $271.7 million that the segment recorded for the 9M period last year. This huge level of ... Read the full article

SiriusPoint’s Q3 combined ratio deteriorates on higher cat losses

4th November 2021

Specialty insurer and reinsurer, SiriusPoint Ltd., has announced a combined ratio of 152% and a net underwriting loss of $266 million for the third quarter of 2021, driven largely by the impacts of Hurricane Ida and the European floods in July. Year-on-year, SiriusPoint's underwriting result has deteriorated further from the $29.7 ... Read the full article

Mercury General income plummets on investment losses

3rd November 2021

Mercury General has reported Q3 net income of just $1.3 million, compared with $118.9 million for the same period last year, after booking huge realized investment losses for the quarter. Looking at the first nine months of the year, Mercury General’s net income actually improved modestly from $207.9 million to $217.5 ... Read the full article

AFG posts record P&C earnings in Q3

3rd November 2021

American Financial Group, Inc. (AFG) has posted record earnings of $329 million within its property and casualty (P&C) insurance segment during the third quarter of 2021. The result was $124 million higher and a 60% increase from the same period last year. The company attributed the year-on-year improvement to significantly higher P&C ... Read the full article

James River confirms $23.9mn net loss for Q3

3rd November 2021

James River Group Holdings, the Bermuda-based insurance holdings company, has reported a net loss of $23.9 million and a combined ratio of 122.1% for the third quarter of 2021. The company’s Q3 results included a pre-tax loss of $29.6 million recognized as adverse loss and loss adjustment expense reserve development in ... Read the full article

Argo Group’s underwriting loss narrows in Q3 2021

3rd November 2021

Bermuda-based Argo Group International Holdings, Ltd. has reported net income of $19.8 million for the third quarter of 2021, compared with a loss of more than $25 million a year earlier, as the company's combined ratio improved by 9.8 percentage points in the period. Overall, Argo has returned to profit in ... Read the full article

Conduit Re sees GWP hit $291mn in opening nine months of 2021

3rd November 2021

Recently launched property and casualty reinsurer Conduit Re has announced gross written premiums of $291.2 million for the first nine months of 2021, with the property segment making up 55.9% of that figure. This result marks considerable progress from the $82.6 million GWP announced during this year’s first quarter. Meanwhile, estimated ... Read the full article

Markel grows earned premiums, strengthens combined ratio in Q3

3rd November 2021

Markel Corporation has reported 17% growth in earned premiums to $1.63 billion for the third quarter of 2021, while the company's combined ratio strengthened to 93% on the back of lower losses when compared with the prior year. Earned premiums also grew for Markel during the nine month period ended September ... Read the full article

Hiscox sees 9M GWP rise 6.4% to $3.5bn off strong rate momentum

2nd November 2021

International specialist insurer Hiscox has reported gross premiums written for the first nine months of 2021 of $3,462.9 million, a 6.4% increase driven by strong rate momentum across business segments. Hiscox London Market achieved aggregate rate increases of 13% across the portfolio, with cyber growing at a significant double digit rate. In ... Read the full article

CNA’s Q3 net income rises to $256mn

1st November 2021

Chicago-based insurer CNA has announced a net income for the third quarter of $256 million, having registered $213 million in the prior year quarter. Core income for the quarter was $237 million, also up from the $193 million achieved in the prior year quarter. The Property & Casualty segment produced core income ... Read the full article

MAPFRE highlights reinsurance growth as group hits €20bn in 9M revenues

29th October 2021

Spanish re/insurer MAPFRE has reported favourable growth of 14.5% within its reinsurance business, citing it as contributing factor in the overall group’s 6.4% increase in net earnings. MAPFRE RE contributed more than €95 million to earnings, compared to losses of €20 million for the same period in 2020, mainly related to ... Read the full article

Aon falls to $900mn Q3 loss after WTW merger collapse

29th October 2021

Re/insurance broker Aon has posted a net loss of $900 million and an operating loss of $801 million for the third quarter of 2021, after incurring $1.3 billion of charges related to the termination of its planned combination with Willis Towers Watson. But costs associated with the merger collapse disguised what ... Read the full article

Arthur J. Gallagher earnings up 22%, Willis Re takeover on track

29th October 2021

Re/insurance broker Arthur J. Gallagher & Co. has reported 22% growth in net earnings across its brokerage and risk management operations during the third quarter of 2021, ending the period at $275.6 million. Revenues similarly increased by 17% over Q3, moving from $1.50 billion last year to $1.75 billion, with 10% ... Read the full article

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