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.

Everest Re reports stronger re/insurance underwriting result as cat load falls

28th April 2022

Bermuda domiciled insurer and reinsurer, Everest Re Group, has reported a strong start to 2022 with net income of $298 million and an improved combined ratio of 91.4%, while premiums across the group spiked by 9%. While positive, net income did fall from the $342 million posted a year earlier, while ... Read the full article

Heritage reporting $45m in cat losses for Q1 2022

28th April 2022

Heritage is expecting to see $45m in catastrophe losses, along with $18.8m of other weather losses in Q1 2022. This is in comparison with to $15.4m and $16.1m, respectively, for the same period in 2021. Total net current accident quarter weather losses were approximately $63.8m in the first quarter of 2022, ... Read the full article

AXIS Capital’s underwriting result improves as catastrophe retreat continues

28th April 2022

Bermuda-based AXIS Capital Holdings Limited has reported an improved combined ratio of 91.4% for the first quarter of 2022, as both its insurance and reinsurance segments recorded a better underwriting result in the period. Across the group, underwriting income spiked from $40.3 million in Q1 2021 to $138.8 million in Q1 ... Read the full article

QIC turns Q1 profit, reports on Ukraine exposure

27th April 2022

Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has recorded a net profit of QR 230 million (USD 63 million) for the first quarter of 2022. The company also reported on its exposure to the ongoing conflict in Ukraine. During Q1, QIC incurred claims of QR 36.4 ... Read the full article

Goosehead loss widens despite revenue growth

27th April 2022

Goosehead Insurance, an independent personal lines insurance agency, has reported a net loss of $5.4 million for the first quarter of 2022, including a loss from operations of $6.1 million. This compares with a net loss of $1.1 million for the same period in the previous year. Despite the larger loss figure, ... Read the full article

Chubb reports huge fall in reported net income

27th April 2022

Chubb has said its reported net income for Q1 2022 was $1.97bn, after falling from $2.3bn in the previous year. Other figures released by the insurer were that P&C combined ratio was 84.3% compared to 91.8% prior year, and the current accident year P&C combined ratio excluding catastrophe losses was 83.5% ... Read the full article

Markel’s CR strengthens in Q1 but investments dent result

27th April 2022

Markel Corporation has reported an improvement in its combined ratio to 89% for the first quarter of 2022, as earned premiums increased to almost $1.8 billion in the period. The re/insurer's combined ratio strengthened by five percentage points from the 94% reported in Q1 2021, driven by a lower current accident ... Read the full article

Brown & Brown reports revenue increases of 11%

26th April 2022

Brown & Brown is reporting revenues of $904.7m in its Q1 2022 financial results. The firm said that this included a $89.4m (11%) increase compared to Q1 2021. Income before income taxes was $265m, increasing 10.8% from the prior year with Income Before Income Taxes Margin remaining consistent with the prior ... Read the full article

W.R. Berkley posts record underwriting income

26th April 2022

Re/insurance holding company W. R. Berkley Corporation has posted record underwriting income of $274.4 million for the first quarter of the year. The company’s net income similarly more than doubled from $229.5 million to $590.6 million, while operating income moved from $201.8 million to $306.9 million. During Q1, net premiums written also ... Read the full article

Guy Carpenter’s revenue jumps 11% in the first-quarter of 2022

21st April 2022

Marsh McLennan's (MMC) reinsurance broking arm, Guy Carpenter, has reported an 11% rise in underlying revenue in the first-quarter of 2022 to $999 million, as its parent reports consolidated revenue of $5.5 billion for the period. Revenue growth at Guy Carpenter supported total Q1 2022 revenue of $3.5 billion within MMC's ... Read the full article

RLI improves underwriting and CR over Q1

21st April 2022

US property and casualty insurer RLI Corp has reported substantial improvements in its underwriting income and combined ratio for the first quarter of 2022, despite falling to a comprehensive loss for the period due to a negative portfolio performance. Underwriting income increased from $29.9 million in Q1 of 2021 to $59.5 ... Read the full article

Travelers reports rise in net income as combined ratio strengthens in Q1

19th April 2022

US primary insurer Travelers has reported an underwriting gain of $659 million for the first-quarter of 2022 and a combined ratio of 91.3%, as losses from catastrophes, net of reinsurance, fell by $675 million from the comparable prior year period. The carrier's underwriting result improved by $442 million, year-on-year, as catastrophe ... Read the full article

VIG reports solvency ratio of 250% in 2021 results

19th April 2022

Vienna Insurance Group (VIG) has reported a solvency ratio of 250% at the end of the 2021 financial year, highlighting the company’s strong capitalisation. As of December 31 2021, VIG had own funds of roughly EUR 10.3 billion, approx. 85% of which was in the highest quality category. VIG also achieved a ... Read the full article

SCOR expects high double-digit EUR million impact from Ukraine conflict

18th April 2022

French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article

Progressive reports elevated cat loss on thunderstorms, hail & tornadoes

14th April 2022

Property and auto-focused insurance group Progressive has suffered a relatively heavy catastrophe loss toll in March, as the impacts of US severe convective storms and tornadoes affected the company. The impact of the severe weather across the United States in March has driven Progressive to miss analysts loss ratio targets, with ... Read the full article