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.
Markel’s operating income up on investments but elevated losses drive reinsurance segment loss
31st October 2024
Global re/insurer Markel Group Inc. has reported operating income of $1.4 billion and $3.1 billion for the third quarter and first nine months of 2024, respectively, and while overall the firm's insurance engine performed well in both periods, elevated losses resulted in a reinsurance segment operating loss for the company. Across ... Read the full article
AXIS reports Q3’24 net income of $173m, CoR hits 93%
31st October 2024
Insurer and reinsurer AXIS Capital has disclosed a Q3 2024 net income available to common shareholders of $173 million, down slightly from $181 million in the same period last year, with a combined ratio of 93.1%. In Q3 2024, pre-tax catastrophe and weather-related losses, net of reinsurance, were $78 million, or ... Read the full article
Arch grows reinsurance GPW 29% as group net income hits $978m in Q3’24
31st October 2024
Arch Capital Group Ltd., the Bermuda-based insurer and reinsurer, has reported premium growth across its insurance and reinsurance segments in the third quarter of 2024, although the underwriting result dipped year-on-year amid elevated losses from natural catastrophes. Group-wide, gross premiums written (GPW) rose more than 20% year-on-year to $5.4 billion in ... Read the full article
Everest delivers solid Q3’24 underwriting result as reinsurance GWP rises to $3.3bn
31st October 2024
Bermuda-based re/insurer Everest Group, Ltd. generated underwriting income of $272 million in the third quarter of 2024, driven by the strong performance of its reinsurance business in spite of elevated catastrophe losses. Everest has reported a solid set of results for the third quarter, with net income of $509 million and ... Read the full article
AXA XL Re premiums up 10% to €2.4bn in 9M’24
30th October 2024
Global insurer AXA's property & casualty (P&C) and specialty risk division, AXA XL, achieved gross written premium (GWP) and other revenues growth of 7% in the first nine months of 2024 to €44.5 billion, supported by 10% year-on-year growth at AXA XL Reinsurance. Within the reinsurance business, premiums grew to €2.4 ... Read the full article
China Re reports RMB 6.2bn net profit in 9M’24 led by strong P&C performance
30th October 2024
China Reinsurance Group (China Re) has generated a net profit of RMB 6,192 million (USD 871m) for the first nine months of 2024, driven by a strong result of RMB 1,272 million (USD 178m) in its P&C business which produced a combined ratio of 98.65%. China Re attributed its group-wide net ... Read the full article
Skyward Specialty’s GWP hit $400m for Q3’24, increase of 12%
30th October 2024
Skyward Specialty Insurance Group, Inc. has reported a rise of 12.4% in gross written premiums (GWP) as they hit $400 million in Q3 2024, compared to last year’s $355 million. For 9M 2024, GWP hit $1.3 billion, increasing by 19% from the comparative quarter’s $1.1 billion. Skyward Specialty attributes the increase ... Read the full article
QIC Group sees net profit increase to QAR 525mn in 9M 2024
30th October 2024
Qatar Insurance Company (QIC Group) has announced its financial results for the first nine months of 2024 reporting a net profit of QAR 525 million, a 16% increase compared to the same period the year prior. The global macroeconomic outlook has improved in 2024, with easing inflation rates, getting closer to ... Read the full article
Verisk reports solid revenue and income growth in Q3’24
30th October 2024
Verisk, the global data analytics and technology provider has reported its financial results for the third quarter of 2024, which includes an increase in its consolidated and organic constant currency (OCC) revenues, with growth contributions from both underwriting and claims within insurance. The organisation's consolidated revenues were $725 million, up 7.0%, ... Read the full article
Chubb’s Q3 P&C underwriting income climbs 12% to $1.5bn
30th October 2024
Global property and casualty insurer Chubb has reported P&C underwriting income for Q3 2024 of $1.46 billion, up 11.7% from the same period in 2023, with a combined ratio of 87.7%. This occurred despite the firm disclosing pre-tax catastrophe losses of $765 million in Q3, including $250 million from Hurricane Helene, ... Read the full article
Brown & Brown’s net income rises by 33% to $234m for Q3’24
29th October 2024
Brown & Brown, the insurance brokerage, in its unaudited results for Q3 2024 has reported net income of $234 million, an increase of $58 million, or 33% from the previous year’s $176 million. Simultaneously, revenues for Q3 2024 under U.S. generally accepted accounting principles (GAAP) were reported at $1.2 billion, increasing ... Read the full article
MAPFRE RE sees 9M’24 premiums hit €6.3bn as net result climbs 9.3%
29th October 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums reached almost €6.3 billion in the first nine months of 2024, up 3.5% from last year, while the net result hit €207 million. MAPFRE RE's premium figure in the first 9M includes the reinsurance business, which contributes more ... Read the full article
ARPC reports strong operating result of $710m for FY 2023-24
28th October 2024
The Australian Reinsurance Pool Corporation (ARPC), a government-backed provider of reinsurance for terrorism-related risks, has released its 2023-24 Annual Report, posting an operating result of $710.1 million. During this time, ARPC received a total of $1.1 billion in gross written premiums and net assets of $1.67 billion under management. Dr. Christopher Wallace, ... Read the full article
The Hartford posts 18% rise in net income in Q3, P&C CAY CAT losses reach $247m
25th October 2024
Property & casualty (P&C) insurer The Hartford has posted an 18% year-on-year increase in net income to $761 million for the third quarter of 2024, driven by double-digit earned premium growth in both its Commercial and Personal Lines segments, as well as lower net realised losses and higher net investment ... Read the full article
Cincinnati sees combined ratio increase in Q3 ’24 due to cat losses
25th October 2024
Cincinnati Financial Corporation has announced its financial results for the third quarter of 2024, reporting a combined ratio for the Consolidated Property Casualty Insurance segment of 97.4%, an increase from 94.4% in the same period last year driven by a peak in catastrophes. In the third quarter of 2024, the insurer ... Read the full article
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