Reinsurance News
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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.
Hiscox Re & ILS reports solid 9M’24 growth, eyes positive Jan renewal rates
7th November 2024
Hiscox Re & ILS, the international reinsurance and insurance-linked securities arm of the Hiscox Group, has reported that insurance contract written premiums (ICWP) grew to $1.017 billion in the first nine months of 2024, up 4.3% from the same period of 2023. According to the firm, most growth was achieved during ... Read the full article
Munich Re’s 9M’24 net result rises 31% despite Q3 cat losses of €1.4bn
7th November 2024
German reinsurer Munich Re has reported a net result of €4.7 billion for the first nine months of 2024, despite losses from natural catastrophes in the third quarter rising significantly to €1.4 billion, of which roughly €500 million relates to hurricane Helene. For 9M 2024, the net result increased by 31% ... Read the full article
Ark’s Q3’24 combined ratio strengthens to 79% despite elevated cat losses
6th November 2024
White Mountains has released its third quarter results for 2024 for its Ark partner firm reporting gross written premium (GWP) growth to $374 million compared to the $251 million reported the same period last year. Ark's GWP for the first nine months of 2024 was $1.9 billion, compared to the $1.7 ... Read the full article
Hurricane Helene drives $90m cat losses for AFG in Q3, Specialty P&C CoR hits 94.3%
6th November 2024
American Financial Group's (AFG's) Specialty property & casualty (P&C) insurance operations reported underwriting profit of $117 million in the third quarter of 2024, compared to $143 million in the prior year period, while catastrophe losses sat at $90 million, which were primarily driven by Hurricane Helene. The firm's cat losses in ... Read the full article
IGI reports net income of $35m for Q3’24 amid rise in net premiums earned
6th November 2024
International General Insurance Holdings Ltd. (IGI), in its Q3 2024 results, has reported net income of $34.5 million compared to $10.9 million last year, driven primarily by an increase in net premiums earned (NPE) of $17.2 million. The increase in net income also included a decrease of $15.5 million in the ... Read the full article
Lancashire sees 9M’24 insurance revenue climb 16.8% to $1.3bn
6th November 2024
Specialty insurance and reinsurance group Lancashire Holdings has reported insurance revenue of $1.3 billion for the first nine months of 2024, an increase of $186.8 million, or 16.8%, compared to the same period in 2023, despite anticipating net losses relating to recent weather events of up to $140 million. Meanwhile, gross ... Read the full article
Conduit’s reinsurance revenue up over 30% as GPW hits $957m in 9M’24
6th November 2024
Bermuda-based reinsurer Conduit Re generated reinsurance revenue of $588.2 million for the first nine months of 2024, an increase of 30.3% over the same period last year, as gross premiums written (GPW) rose 25.2% amid strong growth in property and specialty. For 9M 2024, reinsurance revenue at the multi-line reinsurer increased ... Read the full article
Beazley reports strong growth in property as group-wide premiums rise 7% in 9M’24
6th November 2024
Specialist insurer Beazley has reported a 7% rise in net insurance written premiums to $3.8 billion for the nine months ended September 30th, 2024, and has maintained its combined ratio guidance for the year at around 80% despite expected losses of up to $175 million from hurricanes Helene and Milton. As ... Read the full article
FWD Group’s value of new business grows 16% to $623m in 9M’24
6th November 2024
FWD Group Holdings Limited (FWD Group), a global insurance company, reported strong year-on-year growth in the value of new business (VNB), reaching $623 million for the nine months ended September 30, 2024, a 16% increase compared to the same period last year. All four geographic segments—Hong Kong SAR & Macau SAR; ... Read the full article
Bowhead reports net income and GWP growth in Q3’24
6th November 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the third quarter of 2024, reporting a net income of $12.1 million and a 32.3% increase in gross written premiums (GWP). The firm’s net income for the quarter saw a 38.9% increase compared to the ... Read the full article
The Baldwin Group total revenue up 11% to $338.9m in Q3’24
5th November 2024
The Baldwin Group has announced that total revenue has grown 11% in the third quarter of 2024, to $338.9 million from the $306.2 million reported in the same period last year. At the same time, the company also posted organic revenue growth of 14% during Q3 2024. However, the organisation also posted ... Read the full article
Africa Re posts solid underwriting result with CoR of 88.74% in Q3’24
5th November 2024
The African Reinsurance Corporation (Africa Re) reported a strong net underwriting result of $79.5 million at the end of the third quarter of 2024, marking an impressive year-over-year increase of 100.82% and resulting in an improved net combined ratio of 88.74%, down from 93.66% during the same period last year. The ... Read the full article
Corebridge Financial posts $1.2bn net loss in Q3’24
5th November 2024
Corebridge Financial, the American multinational financial services company, has released its financial results for the third quarter of 2024, which includes a $1.2 billion net loss, compared to a gain of $2.1 billion in the prior year quarter. According to the firm, the change was mainly due to a result of ... Read the full article
Palomar Holdings’ CoR falls to 80.5% on $12.9m cat losses, GWP rises to $415m
5th November 2024
Palomar Holdings has reported a 32.2% rise in gross written premiums (GWP) to $415 million for the third quarter of 2024, while catastrophe losses drove a 4.7 point deterioration in the combined ratio to 80.5%, compared to 75.8% in the third quarter of 2023. At the same time, Palomar's net income ... Read the full article
Catastrophes dent Greenlight Re’s underwriting result but net income rises on investments
5th November 2024
Cayman Islands domiciled reinsurer Greenlight Capital Re, Ltd. has reported a higher combined ratio of 95.9% for the third quarter of 2024 compared to last year’s 91.2% on the back of elevated losses from catastrophes, although net income increased 161% year-on-year as total net investment income rose. Greenlight Re's loss ratio ... Read the full article
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