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’s profit rises on strong reinsurance result
8th August 2024
Global reinsurer Munich Re has today reported that its reinsurance business contributed €1.3 billion and €3.2 billion to the Group's net result in Q2 and H1 2024, respectively, and despite a rise in major loss expenditure, the property and casualty (P&C) reinsurance combined ratio strengthened. Within reinsurance, insurance revenue from insurance ... Read the full article
Ark’s Q2 GWP climb to $697m as CoR remains flat at 89%
7th August 2024
White Mountains Insurance Group has released its Q2 2024 results, revealing that gross written premiums within its Ark/WM Outrigger segment rose to $697 million, up from $606 million in the same period of 2023. Meanwhile, Ark/WM Outrigger's net written premiums in Q2 of 2024 were $503 million, and net earned premiums ... Read the full article
The Baldwin Group’s total revenue climbs 14% to reach $339.8m in Q2’24
7th August 2024
The Baldwin Group has announced that total revenue climbed 14% year-over-year to $339.8 million in the second quarter of 2024, compared to $297.1 million from the second quarter of 2023. At the same time, the company also posted organic revenue growth of 19% during Q2'24. However, the organisation also posted a net ... Read the full article
L&G sees core operating profit of £849m in H1’24, expects it to grow by mid-single digits y-o-y
7th August 2024
Legal & General reports a “stable operating performance” in the first half of 2024, with core operating profit of £849 million slightly ahead of the £844 million reported in the same period the year prior. Profit after tax stood at £223 million in H1 2024, which compares to the £377 million ... Read the full article
Greenlight Re’s Q2’24 underwriting profit declines on US SCS losses
7th August 2024
Greenlight Capital Re, Ltd. has reported a dip in its combined ratio to 99.8% for the second quarter of 2024 compared to 96.2% a year earlier, as underwriting income decreased by $5.1 million year-on-year amid elevated losses from severe convective storms (SCS) in the US. The Cayman Islands domiciled reinsurer notes ... Read the full article
IGI sees slight drop in net income for Q2 as CoR hits 81.2%
7th August 2024
IGI has revealed that net income for Q2 of 2024 was $32.8 million, down from $40.5 million in the same quarter of 2023, while its combined ratio was 81.2%, up from 73.5% in the same period last year. According to the firm, its net income was largely driven by underwriting income ... Read the full article
Hiscox Re & ILS reports strong H1’24 growth as CoR strengthens to 73.8%
7th August 2024
Hiscox Re & ILS, the Group's reinsurance businesses in London and Bermuda and insurance-linked securities (ILS) activity, produced a strong and improved combined ratio of 73.8% for the first half of 2024, while net premiums written in the segment rose by 10.5% as Hiscox looked to capitalise on attractive market ... Read the full article
Bowhead Specialty sees $5.5mn net income in Q2 2024 with GWP increase
7th August 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the second quarter of 2024, reporting a net income of $5.5 million and a 50.4% increase in gross written premiums (GWP). The firm’s net income for the quarter was 15.6% down when compared to the ... Read the full article
Ivans Index shows increase in premium renewal rates in July
6th August 2024
Ivans, a division of Applied Systems, has reported an increase in average premium renewal rate change across all major commercial lines of business, except for Workers' Compensation, year over year in July. According to the Ivans Index, July experienced an increase in average premium renewal rate change across Commercial Auto, Business ... Read the full article
Saudi Re’s insurance revenues rise 68% in H1’24
6th August 2024
Saudi Re has reported a 68% rise in insurance revenues for the first half of 2024, climbing to SAR 482.69 million ($128.71 million) from the previous year's SAR 286.62 million ($76.43 million). At the same time, the company also posted net profits after Zakat, attributable to shareholders of SAR 75.27 million ... Read the full article
Skyward Specialty reports rise in underwriting profit as CoR strengthens
6th August 2024
Skyward Specialty Insurance Group, Inc. has reported a rise of 17.6% in gross written premiums (GWP) and an improved underwriting result of $23.9 million for Q2 2024, compared to last year’s $15.5 million. The reported GWP is $496 million for Q2 2024, compared to $422 million for Q2 2023, and hit ... Read the full article
James River’s underwriting profit falls to $9.84m in Q2
6th August 2024
James River Group Holdings has released its financial results for the second quarter of 2024, posting a net income of $11.9 million and a group combined ratio of 99.3%. These results compared to last years second quarter where the company posted a net income of $9.5 million, and a combined ratio ... Read the full article
Tokio Marine’s international segment sees Q1 net premiums swell 18.5%
6th August 2024
Tokio Marine's international business saw total net premiums written in Q1 of 2024 reach JPY 813.6 billion ($5.62 billion), driven by strong rate increases and new businesses in North America alongside the steady implementation of growth measures elsewhere. Of the total net premiums written figure, North America operations made up JPY ... Read the full article
Palomar reports rise in net income to $25.7m in Q2’24
6th August 2024
Specialty insurer Palomar Holdings has reported a net income of $25.7 million for the second quarter of 2024, an improvement compared to net income of $17.6 million from Q2 2023. The company’s gross written premiums (GWP) experienced substantial growth, increasing by 40.4% to $385.2 million compared to $274.3 million from the ... Read the full article
Ambac’s specialty P&C insurance production hits $165m in Q2
6th August 2024
Ambac has revealed that specialty P&C insurance production, which includes gross written premiums (GWP) by its Specialty P&C Insurance segment and premiums placed by the Insurance Distribution segment, totalled $165 million in Q2 of 2024, an increase of 74.9% from Q2 of 2023. The firm's total GWP in Q2 of 2024 ... Read the full article
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