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.
PartnerRe’s H1 operating income falls on increased cat losses and reserve strengthening
31st July 2024
PartnerRe has revealed that its operating income for H1 of 2024 was $366 million, down from $636 million in H1 of 2023, driven by an increased frequency of mid-sized natural catastrophe events and a reserve strengthening in its U.S. Casualty lines. At the same time, PartnerRe's net income in H1 of ... Read the full article
AXIS sees Q2 net income hit $204m as GWP swell 7% to $2.4bn
31st July 2024
AXIS Capital has revealed that net income available to common shareholders in Q2 of 2024 was $204 million, up from $143 million in Q2 of 2023, while gross written premiums (GWP) increased by $156 million, or 7%, to $2.4 billion. Within this GWP growth, there was an increase of $130 million, ... Read the full article
Conduit Re posts strong reinsurance service result as GPW rises 36% in H1’24
31st July 2024
Bermuda-based Conduit Re has reported a 25% rise in comprehensive income to $98.1 million for the first half of 2024, as gross premiums written (GPW) swelled 36% to $737.8 million on the back of strong growth in both property and specialty. Group-wide, H1'24 reinsurance revenue rose 37% to $382 million from ... Read the full article
Enstar reports $126m net income with ROE of 2.5% in Q2’24
30th July 2024
Global insurance group Enstar has reported net earnings of $126 million for the second quarter of 2024, a substantial increase from $21 million in Q2 2023. The company's return on equity (ROE) improved to 2.5% this quarter, compared to 0.5% from the previous year, while adjusted ROE was 2.9% for the ... Read the full article
SCOR reports Q2’24 net loss as L&H assumption review more than offsets solid P&C result
30th July 2024
French reinsurer SCOR has fallen to a net loss of €308 million for the second quarter of 2024 as a result of the previously announced Life & Health (L&H) assumption review, which more than offset a solid performance in its Property & Casualty (P&C) business. SCOR warned in mid-July that ... Read the full article
Donegal Group posts 9.1% increase in NPW, CR sits at 103%
29th July 2024
Donegal Group, the US primary holding company, has posted a 9.1% increase in net premiums written (NPW) in the second quarter of 2024, climbing to $247.2 million, compared to last year's $226.5 million. According to the firm, the increase in NPW represents the combination of a 7.1% growth seen in commercial ... Read the full article
Continental Re reports strong 2023 results as underwriting profit rises 108%
29th July 2024
Pan-African reinsurer Continental Reinsurance Plc has reported a net reinsurance service result, so underwriting profit, of NGN 9.14 billion (USD 5.6m) for 2023, a 108% increase from 2022’s NGN 4.4 billion (USD 2.7m). The firm’s reinsurance revenue increased to NGN 112.46 billion (USD 69.4m), up from NGN 86.36 billion (USD 53.3m) ... Read the full article
CNA Financial reports $317m net income in Q2’24, P&C CR hits 94.8%
29th July 2024
Chicago-domiciled insurer, CNA Financial Corporation has reported a net income of $317 million for the second quarter of 2024, a solid increase from the previous year's $283 million. At the same time, the company stated that net investment losses for the quarter were $9 million compared to $25 million ... Read the full article
Increase in renewal rate change for all segments except workers’ comp in Q2’24: Ivans Index
26th July 2024
Ivans, a division of Applied Systems, has released the results for the second quarter of 2024 from the Ivans Index, which showed that premium renewal rate change for all major commercial lines of business, except Workers’ Compensation, are up year over year. At the same time, both General Liability and Workers’ ... Read the full article
Cincinnati Financial reports $312mn net income in Q2 2024
26th July 2024
Cincinnati Financial Corporation has announced its financial results for the second quarter of 2024 reporting a net income of $312mn, 42% lower when compared to the $534mn reported in the same period last year. The $222mn decrease in Q2 2024 net income was primarily due to the after-tax net effect of ... Read the full article
MAPFRE RE sees premiums grow 5.5% in H1 2024
26th July 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums, which include the reinsurance and global risks businesses, increased by 5.5%, reaching over €4.3 billion, in the first half of 2024. Of the €4.3 billion in premiums, the company noted that €3.3 billion came from the reinsurance business, ... Read the full article
The Hartford reports 35% rise in Q2’24 net income
26th July 2024
Property and casualty (P&C) insurer The Hartford has reported a 35% year-on-year increase in net income to $733 million for the second quarter of 2024, driven by a higher underwriting gain in P&C, stronger net investment income, and an improved Group Benefits loss ratio. Alongside the rise in net income, the ... Read the full article
Aon’s Reinsurance Solutions delivers 7% organic revenue growth in Q2’24
26th July 2024
Global insurance and reinsurance broking group Aon has reported an 18% year-on-year rise in total revenue to $3.8 billion for the second quarter of 2024, with solid organic revenue growth across the business, including 7% to $635 million in its Reinsurance Solutions arm. The increase in total revenue reflects acquired revenues ... Read the full article
Universal’s CR strengthens in Q2’24, net income rises to $35.4m
26th July 2024
Universal Insurance Holdings has announced a net income of $35.4 million for the second quarter of 2024, an increase of 24% from the prior year quarter, as the company's combined ratio strengthened by 3.2 percentage points to 95.9%. At the same time, the company has reported Q2 2024 total revenues of $380.2 ... Read the full article
Gallagher sees Q2 revenue of $2.73bn as net earnings improve
26th July 2024
Arthur J. Gallagher has revealed that its revenue in Q2 of 2024 stood at $2.73 billion, up from £2.4 billion in Q2 of 2023, driven by strong performance in its brokerage segment. Of this total revenue before reimbursements figure, Gallagher's brokerage segment made up $2.37 billion, while its risk management segment ... Read the full article
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