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.
Munich Re reports preliminary Q3 result of €900m despite high loss expenditure
22nd October 2024
Munich Re has reported a preliminary Q3 2024 net result of around €900 million, despite the impact of higher-than-average major-loss expenditure from natural catastrophes in property-casualty reinsurance. Hurricane Helene was the reinsurer's largest single claims event in the quarter, causing approximately €500 million in losses. Meanwhile, three loss events in Canada ... Read the full article
Bowhead Specialty does not expect direct material losses from Q3 hurricanes
22nd October 2024
Specialty lines insurance group Bowhead Specialty does not expect material direct losses from the recent hurricanes in the third quarter of 2024, as the firm does not write any property risks, the company recently said in its preliminary third quarter earnings. In their preliminary third quarter earnings, the company revealed that ... Read the full article
W. R. Berkley sees record Q3 net profit of $365.6m
22nd October 2024
W.R. Berkley Corporation has reported a record Q3 net profit of $365.6 million amid continued strong underwriting margins and increased investment income. The firm's Q3 2024 return on equity and operating return on equity were 19.6% and 20.0%, respectively, while net investment income grew 19.5% compared to the same period of ... Read the full article
RLI’s Q3’24 underwriting income reaches $40.7m, combined ratio improves to 89.6%
22nd October 2024
Specialty insurer RLI Corp. has reported an improved underwriting income of $40.7 million for Q3 2024 with a combined ratio of 89.6%, compared to $4.2 million and a 98.7% combined ratio in Q3 2023. The year-on-year improvement in underwriting comes despite losses from Hurricanes Beryl and Helene resulting in a $32.7 ... Read the full article
Ping An reports 4.5% growth in P&C insurance revenue in 9M 2024
21st October 2024
Chinese insurer Ping An has reported its results for the first nine months of 2024, showing a solid 4.5% year-on-year growth in property & casualty (P&C) insurance revenue, reaching RMB246,022 million. At the same time, its P&C operating profit increased 39.7% year-on-year to RMB13,987 million. The company also improved its overall P&C ... Read the full article
Travelers returns to underwriting profit in Q3’24 despite rise in catastrophe losses
17th October 2024
The Travelers Companies has today reported an underwriting gain of $685 million for the third quarter of 2024 despite a rise in catastrophe losses, net of reinsurance, to $939 million, while substantial net favorable prior year reserve development and higher net investment income also contributed to a rise in net ... Read the full article
Guy Carpenter sees revenue climb 6% to $381m in Q3
17th October 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has reportedly generated revenue of $381 million in Q3 of 2024, an increase of 6% compared with the same quarter of 2023. Marsh McLennan's Risk & Insurance Services unit, which houses both Guy Carpenter and Marsh, saw revenue of $3.5 billion in ... Read the full article
OneDegree Group reaches first operating profit in Q3 2024
3rd October 2024
OneDegree Group, a provider of cybersecurity and insurance solutions, has reached its first operating profit in the third quarter of 2024, marking a significant milestone for both the group and its insurance division. The company’s success can be attributed to the scale and profitability of its two flagship products: digital asset ... Read the full article
American Overseas reports $6.2m increase in P&C premiums for Q2’24
1st October 2024
American Overseas Group, a Bermuda-based property & casualty (P&C) holding company, reported a significant rise in net earned P&C premiums for Q2 2024, increasing by $6.2 million from $6.5 million last year to $12.7 million. Gross written premiums also saw a notable increase, growing by $70.9 million from $164.3 million to ... Read the full article
Helios sees 45% GWP growth in H1’24 amid ‘excellent’ Lloyd’s market conditions
27th September 2024
Helios Underwriting has reported that gross written premiums (GWP) increased to £230 million in the first half of 2024 on the back of 65% growth of the capacity portfolio to £512 million for the 2024 underwriting year. The investment company, who provides investors with exposure to Lloyd's via an actively managed ... Read the full article
US life/annuity market sees net income rise to $14.1bn in H1’24: AM Best
23rd September 2024
During the first six months of 2024 net income for the US life/annuity (L/A) insurance sector increased by 7.1% over the same prior year period to $14.1 billion, driven primarily by lower realised capital losses, according to a new report from AM Best. If you recall, the US life/annuity market witnessed ... Read the full article
B.P. Marsh & Partners reports funds at £80.2m and no debt
18th September 2024
In a recent trading update, B.P. Marsh & Partners, the specialist investor in early stage financial services businesses, has revealed that as of July 31st, 2024 it had cash of £80.2 million. The firm also revealed that the current cash and treasury balance is £82.9 million and the Group is debt ... Read the full article
US P&C sector’s net income skyrockets to $97.6bn in H1’24: AM Best
17th September 2024
According to AM Best, the US property & casualty (P&C) industry recorded a $3.8 billion net underwriting gain in the first six months of 2024, a major improvement from the $24 billion loss reported in the previous year. The agency stated that the turnaround in the personal lines segment was primarily ... Read the full article
CelsiusPro and Tower launch IT platform for parametric cover in the Pacific
12th September 2024
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific Island countries of Fiji and Tonga. The product provides policyholders with rapid cash payouts when their ... Read the full article
PIC completes £3bn of new business in “strong” first half of 2024 results
12th September 2024
Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has reported its financial results for the first half of 2024, posting an adjusted operating profit before tax (AOPBT) of £272 million, compared to the previous year's £506 million, which the firm noted was a result ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
