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.
OneDegree Group reaches first operating profit in Q3 2024
3rd October 2024
OneDegree Group, a provider of cybersecurity and insurance solutions, has reached its first operating profit in the third quarter of 2024, marking a significant milestone for both the group and its insurance division. The company’s success can be attributed to the scale and profitability of its two flagship products: digital asset ... Read the full article
American Overseas reports $6.2m increase in P&C premiums for Q2’24
1st October 2024
American Overseas Group, a Bermuda-based property & casualty (P&C) holding company, reported a significant rise in net earned P&C premiums for Q2 2024, increasing by $6.2 million from $6.5 million last year to $12.7 million. Gross written premiums also saw a notable increase, growing by $70.9 million from $164.3 million to ... Read the full article
Helios sees 45% GWP growth in H1’24 amid ‘excellent’ Lloyd’s market conditions
27th September 2024
Helios Underwriting has reported that gross written premiums (GWP) increased to £230 million in the first half of 2024 on the back of 65% growth of the capacity portfolio to £512 million for the 2024 underwriting year. The investment company, who provides investors with exposure to Lloyd's via an actively managed ... Read the full article
US life/annuity market sees net income rise to $14.1bn in H1’24: AM Best
23rd September 2024
During the first six months of 2024 net income for the US life/annuity (L/A) insurance sector increased by 7.1% over the same prior year period to $14.1 billion, driven primarily by lower realised capital losses, according to a new report from AM Best. If you recall, the US life/annuity market witnessed ... Read the full article
B.P. Marsh & Partners reports funds at £80.2m and no debt
18th September 2024
In a recent trading update, B.P. Marsh & Partners, the specialist investor in early stage financial services businesses, has revealed that as of July 31st, 2024 it had cash of £80.2 million. The firm also revealed that the current cash and treasury balance is £82.9 million and the Group is debt ... Read the full article
US P&C sector’s net income skyrockets to $97.6bn in H1’24: AM Best
17th September 2024
According to AM Best, the US property & casualty (P&C) industry recorded a $3.8 billion net underwriting gain in the first six months of 2024, a major improvement from the $24 billion loss reported in the previous year. The agency stated that the turnaround in the personal lines segment was primarily ... Read the full article
CelsiusPro and Tower launch IT platform for parametric cover in the Pacific
12th September 2024
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific Island countries of Fiji and Tonga. The product provides policyholders with rapid cash payouts when their ... Read the full article
PIC completes £3bn of new business in “strong” first half of 2024 results
12th September 2024
Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has reported its financial results for the first half of 2024, posting an adjusted operating profit before tax (AOPBT) of £272 million, compared to the previous year's £506 million, which the firm noted was a result ... Read the full article
Guidewire sees total revenue increase 8% to $980.5m in latest results
9th September 2024
In their financial results for the fiscal year 2024 (FY24), Guidewire has posted $980.5 million in total revenue, an increase of 8% from the prior year. Guidewire also disclosed that it's subscription and support revenue sat at $549.1 million, for the period, representing an increase of 28%, while license revenue was ... Read the full article
Brit posts 80.5% undiscounted CoR in H1’24, pre-tax profit climbs to $362.4m
6th September 2024
Brit Ltd, the global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, has posted an undiscounted combined ratio of 80.5% for the first half of 2024, representing an improvement from the prior year's 82.3%. At the same time, the organisation also posted a discounted combined ratio of 70.1% for the ... Read the full article
CCR Re’s turnover rises 7% to €970m in H1’24
5th September 2024
French reinsurer CCR Re has announced turnover of €970 million for the first half of 2024, up 7% year-on-year at current exchange rates, as the firm's non-life business performance improved. For CCR Re's life business, turnover was stable in H1 2024 when compared with the prior year, while non-life saw an ... Read the full article
Lloyd’s reports strong H1’24 combined ratio as profit rises to £4.9bn
5th September 2024
Lloyd's, the world's oldest insurance and reinsurance marketplace, has reported a 24%, or £600 million year-on-year rise in underwriting profit to £3.1 billion for the first half of 2024, as the market produced its best interim combined ratio since 2007 of 83.7%. In 2023, Lloyd's achieved its best underwriting result ... Read the full article
Renewal rates for nearly all major commercial lines down month over month: Ivans
4th September 2024
In the August 2024 results of the Ivans Index, year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced notable increases in average premium renewal rates, while premium renewal rates decreased for Workers’ Compensation. However, month over month, all major commercial lines premium renewal rates were lower, except ... Read the full article
ABIR member companies report record GWP of $171bn in 2023
3rd September 2024
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) reported record gross written premium of over $171 billion in 2023, up from the $145 billion figure that was reported in 2022. These figures stem from ABIR’s global underwriting report, which comprises data from 25 of 31 member re/insurers for ... Read the full article
Africa Re’s GWP income climbs to $558.74m, net CoR hits 87.54%
2nd September 2024
The African Reinsurance Corporation (Africa Re) posted a gross written premium (GWP) income of US $558.74 million at the end of the second quarter of 2024, representing a 5.56% increase from the US $529.33 million figure that was reported in the same period last year under IFRS 4. According to the ... Read the full article
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