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.
AIG posts solid Q3’24 result as higher catastrophe charges dent GI underwriting result
5th November 2024
Global insurer AIG has reported a 77% year-on-year decline in net income to $459 million for the third quarter of 2024, driven primarily by a reduction in net income from discontinued operations following the deconsolidation of Corebridge, while its General Insurance (GI) business saw its underwriting result fall 28% on ... Read the full article
CNA Financial P&C CoR impacted by cat losses in Q3’24
4th November 2024
Chicago-domiciled insurer, CNA Financial Corporation has reported a net income of $283 million for the third quarter of 2024 compared to the $258 million seen in the comparative prior year quarter. The insurer also reported its P&C segment saw its core income increase to $346 million in the quarter, compared to ... Read the full article
GEICO performance offsets Q3’24 losses at Berkshire Hathaway’s primary & reinsurance units
2nd November 2024
Net underwriting earnings across Berkshire Hathaway's insurance and reinsurance operations declined to $750 million in the third quarter of 2024, as the strong performance at GEICO more than offset underwriting losses at both the firm's primary insurance and reinsurance businesses. The net underwriting result of Berkshire Hathaway's re/insurance businesses fell 69% ... Read the full article
Ryan Specialty reports organic revenue growth of 11.8% in Q3’24
1st November 2024
International specialty insurance firm Ryan Specialty Holdings, Inc. has reported revenue growth of 20.5% year-over-year to $604.7 million in the third quarter of 2024, compared to $501.9 million in the prior-year period, while net income spiked 82.4% year-over-year to $28.6 million. The organic growth rate for the quarter was 11.8% for ... Read the full article
Lemonade’s in-force premium climbs to $889.1m in Q3’24
1st November 2024
Lemonade, the digital insurance firm powered by artificial intelligence (AI), has reported a net loss in Q3 2024 of $67.7 million, compared to a loss of $61.5 million in the third quarter of 2023, while it's in-force premium (IFP) increased by 24% to $889.1 million. The company also posted a 73% ... Read the full article
Fairfax posts solid rise in GPW in Q3’24
1st November 2024
In their financial results for the third quarter of 2024, Fairfax Financial Holdings has reported net earnings attributable to shareholders of $1,030.8 million, which compares to the $1,068.9 million seen in the third quarter of 2023. According to Fairfax, this figure primarily reflects increased adjusted operating income of $1,136.8 million and ... Read the full article
Reinsurance Group of America’s net income drops in Q3 2024
1st November 2024
Reinsurance Group of America (RGA), Incorporated, a provider of life and health reinsurance has posted its financial results for the third quarter of 2024, which includes net income available to RGA shareholders of $156 million, a decrease compared to last year's $287 million. RGA's adjusted operating income for Q3 2024 sat ... Read the full article
SiriusPoint’s Q3’24 CoR strengthens to 84.4% as reinsurance GPW rises
1st November 2024
Bermuda-based insurer and reinsurer SiriusPoint has reported an improved combined ratio of 84.4% for the third quarter of 2024 as consolidated underwriting income increased from $73.8 million to $89 million, driven by increased favorable prior year loss reserve development. For the third quarter of 2024, favorable prior year loss reserve development ... Read the full article
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
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