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.
Guidewire sees total revenue increase 8% to $980.5m in latest results
9th September 2024
In their financial results for the fiscal year 2024 (FY24), Guidewire has posted $980.5 million in total revenue, an increase of 8% from the prior year. Guidewire also disclosed that it's subscription and support revenue sat at $549.1 million, for the period, representing an increase of 28%, while license revenue was ... Read the full article
Brit posts 80.5% undiscounted CoR in H1’24, pre-tax profit climbs to $362.4m
6th September 2024
Brit Ltd, the global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, has posted an undiscounted combined ratio of 80.5% for the first half of 2024, representing an improvement from the prior year's 82.3%. At the same time, the organisation also posted a discounted combined ratio of 70.1% for the ... Read the full article
CCR Re’s turnover rises 7% to €970m in H1’24
5th September 2024
French reinsurer CCR Re has announced turnover of €970 million for the first half of 2024, up 7% year-on-year at current exchange rates, as the firm's non-life business performance improved. For CCR Re's life business, turnover was stable in H1 2024 when compared with the prior year, while non-life saw an ... Read the full article
Lloyd’s reports strong H1’24 combined ratio as profit rises to £4.9bn
5th September 2024
Lloyd's, the world's oldest insurance and reinsurance marketplace, has reported a 24%, or £600 million year-on-year rise in underwriting profit to £3.1 billion for the first half of 2024, as the market produced its best interim combined ratio since 2007 of 83.7%. In 2023, Lloyd's achieved its best underwriting result ... Read the full article
Renewal rates for nearly all major commercial lines down month over month: Ivans
4th September 2024
In the August 2024 results of the Ivans Index, year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced notable increases in average premium renewal rates, while premium renewal rates decreased for Workers’ Compensation. However, month over month, all major commercial lines premium renewal rates were lower, except ... Read the full article
ABIR member companies report record GWP of $171bn in 2023
3rd September 2024
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) reported record gross written premium of over $171 billion in 2023, up from the $145 billion figure that was reported in 2022. These figures stem from ABIR’s global underwriting report, which comprises data from 25 of 31 member re/insurers for ... Read the full article
Africa Re’s GWP income climbs to $558.74m, net CoR hits 87.54%
2nd September 2024
The African Reinsurance Corporation (Africa Re) posted a gross written premium (GWP) income of US $558.74 million at the end of the second quarter of 2024, representing a 5.56% increase from the US $529.33 million figure that was reported in the same period last year under IFRS 4. According to the ... Read the full article
China Re see’s high net profit in H1’24, reports successful issuance of new capital bonds
30th August 2024
China Reinsurance (Group) Corporation (China Re), has released its financial results for the first half of 2024, which includes a net profit of RMB 5.921 million, up substantially from RMB 2.067 million in the same period last year. At the same time, the organisation's total operating income grew to RMB 60.686 ... Read the full article
Major European reinsurers report sustained earnings growth in 1H24: Fitch
29th August 2024
Among the four largest European reinsurers, Munich Re, Swiss Re, and Hannover Re all saw further improvements in earnings in 1H24, driven by better underwriting results across most business lines, according to Fitch Ratings. In contrast, SCOR reported a loss due to unfavourable changes in its life and health insurance (L&H) ... Read the full article
Steadfast reports strong FY 2024 with $252.2m net profit & 22.7% EBITA growth
29th August 2024
Australian insurance broking and distribution group Steadfast has revealed net profit after tax for the FY 2024 of $252.2 million, up 21.8% from 2023, while the firm's underlying EBITA grew 22.7% to $528.5 million. According to Steadfast, the EBITA increase in FY 2024 was driven by organic growth of 12.5%, fueled ... Read the full article
Canada Life Re’s base earnings up 14% in H1’24
28th August 2024
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, has reported its results for the first half of 2024, showing a 14% increase in base earnings compared to the same period last year. Canada Life Re is a division of The Canada Life Assurance Company, which is a ... Read the full article
Ageas Re generates €67m operating profit in H1’24, CoR sits at 93.1%
28th August 2024
Ageas, the Brussels-headquartered multinational insurer, has reported a total net operating result of its reinsurance segment of €67 million in the first six months of 2024, up from the €66 million figure that was posted in the prior year period. Ageas Re's combined ratio for the period was up compared to ... Read the full article
Vienna Insurance Group’s GWP climbs 7.9% in H1’24
28th August 2024
In their financial results for the first half of 2024, Vienna Insurance Group (VIG) has reported that its total volume gross written premiums (GWP) increased by 7.9% to reach €7,886.8 million. Particularly positive premium growth was reported in the firm's Special Markets segment (Germany, Georgia, Liechtenstein, and Türkiye) with an increase ... Read the full article
Peak Re sees strong H1 profit as GWP swell to $847.9m
28th August 2024
Hong Kong-based reinsurer Peak Re has released its H1 2024 results, reporting GWP of $847.9 million, up from $832.9 million in the same period of 2023. At the same time, Peak Re disclosed an H1 2024 profit of $124.2 million, while its investment results benefitted from rising interest rates. Indeed, with assets ... Read the full article
FWD Group posts $223m operating profit in H1’24
28th August 2024
FWD Group, an Asian insurance company, has announced its financial results for the first half of 2024, reporting an operating profit after tax of US$223 million, which reflects positive contributions from the company's four geographic business segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Emerging Markets. At ... Read the full article
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