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.
Tiptree posts $12m net income in Q3’24 driven by growth in insurance business
1st November 2024
Holding company Tiptree has reported a net income of $11.9 million for the third quarter of 2024, up from $2.2 million in Q3 2023, driven by growth in its insurance business. Adjusted net income reached $27.9 million, a 55.9% increase from $17.9 million in Q3 2023, due to higher insurance revenues ... Read the full article
Oman Re sees 9M’24 reinsurance revenue climb 17% despite recurrent nat cat events
31st October 2024
Oman Re, the Sultanate of Oman’s sole reinsurer, has reported reinsurance revenue of OMR 37.4 million ($97.2 million) in the first nine months of 2024, up 17% compared to the same period of 2023. Meanwhile, Oman Re's net profit after tax stood at OMR 1.4 million ($3.7 million) in the first ... Read the full article
Saudi Re reports 351% increase in profits for the first nine months of 2024
31st October 2024
Saudi Re has reported a net profit after zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 475 million for the first nine months of 2024, representing an impressive 351% increase compared to the same period last year. Total written premiums also saw significant ... Read the full article
Kemper sees net income growth in Q3’24 with improved underlying CoR in P&C
31st October 2024
Kemper Corporation has announced its financial results for the third quarter of 2024, reporting a net income of $73.7 million compared to a net loss of $146.3 million seen in the same period last year. Kemper’s total revenues for Q3 2024 decreased $20.5 million, or 1.7%, to $1,178.9 million, compared to ... Read the full article
The Hanover’s CoR improves to 95.5% in Q3’24, net income climbs to $102.1m
31st October 2024
The Hanover Insurance Group has released its financial results for the third quarter of 2024, which includes its combined ratio improving 8.9 points to 95.5%, driven in part by lower catastrophe losses, while net income increased to $102.1 million. At the same time, operating income was $111.3 million for the ... Read the full article
WTW posts $1.67bn net loss in Q3 as revenue hits $2.29bn
31st October 2024
Global brokerage WTW has posted its financial results for the third quarter of 2024, which includes a net loss of $1.67 billion compared to net income of $139 million in the prior-year third quarter. WTW's revenue for Q3'24 climbed by 6% on both a reported and organic basis to $2.29 billion, ... Read the full article
Allstate sees net income and revenue growth despite higher cat losses in Q3’24
31st October 2024
The Allstate Corporation has reported it was able to generate “excellent” returns in the third quarter of 2024 despite higher catastrophe losses, seeing its net income applicable to common shareholders improve to $1.2bn, compared to a net loss of $41mn loss seen in the same quarter last year. Catastrophe losses for ... Read the full article
Markel’s operating income up on investments but elevated losses drive reinsurance segment loss
31st October 2024
Global re/insurer Markel Group Inc. has reported operating income of $1.4 billion and $3.1 billion for the third quarter and first nine months of 2024, respectively, and while overall the firm's insurance engine performed well in both periods, elevated losses resulted in a reinsurance segment operating loss for the company. Across ... Read the full article
AXIS reports Q3’24 net income of $173m, CoR hits 93%
31st October 2024
Insurer and reinsurer AXIS Capital has disclosed a Q3 2024 net income available to common shareholders of $173 million, down slightly from $181 million in the same period last year, with a combined ratio of 93.1%. In Q3 2024, pre-tax catastrophe and weather-related losses, net of reinsurance, were $78 million, or ... Read the full article
Arch grows reinsurance GPW 29% as group net income hits $978m in Q3’24
31st October 2024
Arch Capital Group Ltd., the Bermuda-based insurer and reinsurer, has reported premium growth across its insurance and reinsurance segments in the third quarter of 2024, although the underwriting result dipped year-on-year amid elevated losses from natural catastrophes. Group-wide, gross premiums written (GPW) rose more than 20% year-on-year to $5.4 billion in ... Read the full article
Everest delivers solid Q3’24 underwriting result as reinsurance GWP rises to $3.3bn
31st October 2024
Bermuda-based re/insurer Everest Group, Ltd. generated underwriting income of $272 million in the third quarter of 2024, driven by the strong performance of its reinsurance business in spite of elevated catastrophe losses. Everest has reported a solid set of results for the third quarter, with net income of $509 million and ... Read the full article
AXA XL Re premiums up 10% to €2.4bn in 9M’24
30th October 2024
Global insurer AXA's property & casualty (P&C) and specialty risk division, AXA XL, achieved gross written premium (GWP) and other revenues growth of 7% in the first nine months of 2024 to €44.5 billion, supported by 10% year-on-year growth at AXA XL Reinsurance. Within the reinsurance business, premiums grew to €2.4 ... Read the full article
China Re reports RMB 6.2bn net profit in 9M’24 led by strong P&C performance
30th October 2024
China Reinsurance Group (China Re) has generated a net profit of RMB 6,192 million (USD 871m) for the first nine months of 2024, driven by a strong result of RMB 1,272 million (USD 178m) in its P&C business which produced a combined ratio of 98.65%. China Re attributed its group-wide net ... Read the full article
Skyward Specialty’s GWP hit $400m for Q3’24, increase of 12%
30th October 2024
Skyward Specialty Insurance Group, Inc. has reported a rise of 12.4% in gross written premiums (GWP) as they hit $400 million in Q3 2024, compared to last year’s $355 million. For 9M 2024, GWP hit $1.3 billion, increasing by 19% from the comparative quarter’s $1.1 billion. Skyward Specialty attributes the increase ... Read the full article
QIC Group sees net profit increase to QAR 525mn in 9M 2024
30th October 2024
Qatar Insurance Company (QIC Group) has announced its financial results for the first nine months of 2024 reporting a net profit of QAR 525 million, a 16% increase compared to the same period the year prior. The global macroeconomic outlook has improved in 2024, with easing inflation rates, getting closer to ... Read the full article
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