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.
Brown & Brown’s revenue grows 15.4% with net income down 21.9% in Q4’24
28th January 2025
Brown & Brown, the insurance brokerage, has released its unaudited results for the fourth quarter of 2024, reporting a 15.4% growth in total revenues, to $1.2 billion, and a net income of $210 million, 21.9% lower compared to the same period last year. Commissions and fees increased by 15.4% as well ... Read the full article
W. R. Berkley sees highest-ever net income in record setting 2024
28th January 2025
W. R. Berkley Corporation has announced that it achieved its highest-ever net income in 2024, along with setting several other financial records during the year. W. R. Berkley's net income for 2024 stood at $1.76 billion, up from $1.38 billion for the full year 2023, while the firm's gross and net ... Read the full article
RLI sees underwriting income hit $210.7m for 2024 with CoR of 86.2%
23rd January 2025
In its full-year 2024 results, RLI Corp. reported an underwriting income of $210.7 million with a combined ratio of 86.2%, an improvement from the $173.2 million underwriting income and 86.6% combined ratio recorded in 2023. According to the firm, results for both years include favourable developments in prior years’ loss reserves. This ... Read the full article
Travelers posts stronger underwriting gain for 2024 despite rise in cat losses
22nd January 2025
Primary insurer Travelers has reported improved underwriting results for both the fourth quarter and full year 2024, as an increase in net favorable prior year reserve development more than offset a rise in catastrophe losses for both periods. Travelers has today reported net income of $2.1 billion for Q4'24 and $5 ... Read the full article
Ethio Re reports 60% growth in net profit
8th January 2025
Ethiopian Reinsurance (Ethio Re) has reported strong financial results for the 2023/24 fiscal year, achieving an impressive 60% growth in net profit to 391 million birr, despite rising natural and man-made catastrophes. The results were presented at Ethio Re’s 9th Annual General Meeting, held at the Hilton Hotel on December 31, ... Read the full article
Munich Re targets net profit of €6bn for 2025
13th December 2024
Industry giant Munich Re has disclosed that due to consistently good operational performance in all business segments, the group is now aiming for an IFRS net profit of €6 billion in 2025. This morning, the reinsurance giant announced some targets for next year, forecasting that insurance revenue will reach €64 billion ... Read the full article
US life/annuity net income decreases 30.5% in 9M’24, AM Best
12th December 2024
In the first nine months of 2024, US life/annuity total income was up 5.3% from the previous year, primarily due to increases of 13.7% in premiums and annuity considerations, as well as a 9.6% rise in net investment income, according to global credit ratings agency AM Best. A new report released ... Read the full article
9M’24 results show $4.1bn underwriting gain for US P&C industry: AM Best
4th December 2024
According to AM Best, the US property and casualty (P&C) industry posted a $4.1 billion net underwriting gain in the first nine months of 2024, in comparison to a $32.1 billion loss recorded in the prior year period. At the same time, the US P&C industry recorded a $130 billion net ... Read the full article
Tower posts solid net profit in FY24 as GWP climbs to $595m
29th November 2024
Kiwi insurer Tower Limited has posted an underlying net profit after tax (underlying NPAT) of $83.5 million and a reported profit of $74.3 million for the financial year ended September 30, 2024. This increase was a significant turnaround from the $1 million loss recorded in FY23, which was primarily influenced by ... Read the full article
QBE reports 2% GWP growth on renewal premium rate increases of almost 6%
27th November 2024
Australian insurer QBE, in its latest performance update, has revealed that gross written premium (GWP) growth in the nine months to September 30th was 2% on the prior period, on both a reported and constant currency basis. The insurer explains that this continued growth was driven by group-wide renewal premium rate ... Read the full article
VIG’s 9M’24 GWP rises to €11.5bn
26th November 2024
Vienna Insurance Group (VIG) has disclosed that gross written premiums (GWP) increased by 8% to €11.5 billion for 9M 2024, compared to last year’s €11.4 billion, as insurance service revenue grew more than 9% year-on-year to €9 billion. The insurer has revealed that the highest premium increases came from the Special ... Read the full article
Canadian life insurance new premium climbs to CAD 478m in Q3: LIMRA
25th November 2024
Total Canadian life insurance new annualised premium jumped 4% to (CAD) $478 million in the third quarter of 2024, according to LIMRA’s Retail Canadian Life Insurance Sales Survey. During Q3'24, policy count dropped 17%, which was largely due to term life sales declines. John Carroll, senior vice president and head of Life ... Read the full article
Canada Life Re posts Q3’24 earnings of $210m
21st November 2024
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, recorded solid earnings of $210 million for the third quarter of 2024, accounting for 20% of Canada Life Assurance Company's total earnings for the period. For the quarter, Canada Life Assurance Company's base earnings hit a record $1.06 billion, ... Read the full article
Commercial P&C premiums across all account sizes rise by 5.1% in Q3’24: CIAB
21st November 2024
In the third quarter of 2024, premiums across all account sizes rose by 5.1% within the commercial property and casualty (P&C) insurance market, roughly the same as the 5.2% recorded in the previous quarter, according to The Council of Insurance Agents & Brokers’ (CIAB) latest quarterly survey. In fact, Q3'24 marked ... Read the full article
Tokio Marine’s international segment sees Q2’24 profit of $1.62bn as NPW surge 15%
20th November 2024
Tokio Marine’s international business reported Q2 2024 fiscal year profit of JYP 251.4 billion ($1.62 billion), an increase of 24.5% from the same period of the previous year, while net premiums written surged 14.8% to JYP 1,706.7 billion ($10.97 billion). As per Tokio Marine, the primary driver of the profit increase ... Read the full article
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