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.
Canadian Personal Auto & Personal lines increase in Q2’24: Applied Systems
25th July 2024
Applied Systems has released second quarter of 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate change increased for Personal Auto and increased for Personal Property compared to ... Read the full article
WTW’s net income climbs 48% in Q2 as revenue hits $2.3bn
25th July 2024
Global advisory, broking and solutions firm WTW has revealed that net income for Q2 of 2024 was $142 million, an increase of 48% compared to Q2 of 2023. WTW's revenue in Q2 of 2024 was $2.27 billion, an increase of 5% compared to the same period in 2023. Of this total ... Read the full article
Goosehead sees $10.9mn net income growth in Q2 2024, revenues up 13%
25th July 2024
Goosehead, an independent personal lines insurance agency, has announced its financial results for the second quarter of 2024, reporting an increased net income of $10.9mn, compared to the $7.2mn reported in the same period last year. Mark Miller, President and CEO, stated: “Our excellent second quarter 2024 results reinforce our return ... Read the full article
RenRe’s Q2’24 underwriting income rises 36% as net income hits $495m
25th July 2024
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported underwriting income of $479.3 million and a combined ratio of 81.1% in its second quarter 2024 results, as both fee income and investment income also contributed to another successful quarter for the firm. Year-on-year, RenRe's Q2 underwriting result increased more than 36% although ... Read the full article
Chubb’s P&C underwriting results improve despite elevated cat losses
24th July 2024
Global property and casualty (P&C) insurer Chubb has reported Q2 2024 P&C underwriting income of $1.42 billion with a combined ratio of 86.8%, despite a rise in pre-tax catastrophe losses, net of reinsurance, to $580 million. In the second quarter of 2024, Chubb's P&C underwriting income increased 0.5% year-on-year as the ... Read the full article
Brown & Brown’s net income climbs to $257m in Q2 results
23rd July 2024
Brown & Brown, the insurance brokerage, has reported its results for the second quarter of 2024, which includes a net income of $257 million, representing a substantial increase from the previous year's $190 million. At the same time, revenues for Q2 2024 under U.S. generally accepted accounting principles (GAAP) sat at ... Read the full article
W. R. Berkley reports record NPW and investment income in Q2’24
23rd July 2024
Insurance holding company W. R. Berkley Corporation generated record net premiums written (NPW) of more than $3.1 billion in the second quarter of 2024, as net investment income increased by almost 52% to a new record. As NPW grew more than 11% year-on-year, the firm's gross premium written (GPW) increased from ... Read the full article
RLI sees Q2 underwriting income climb to $70m as combined ratio improves
23rd July 2024
In its Q2 2024 results, RLI Corp has revealed that its underwriting income increased to $70 million on an 81.5 combined ratio, up from $41.2 million on an 87.2 combined ratio in Q2 of 2023. RLI's Property segment reportedly made up $53.2 million of the total underwriting income, while the Casualty ... Read the full article
Travelers sees Q2 net income soar to $534m despite elevated cat losses
19th July 2024
The Travelers Companies, Inc. has reported a net income of $534 million for Q2 of 2024 despite an underwriting loss of $65 million driven by substantial cat losses of $1.5 billion, which were offset by net favourable prior year reserve development of $230 million and an investment income increase of ... Read the full article
Selective sees Q2 net loss as combined ratio climbs to 116.1%
19th July 2024
Selective Insurance has reported a net loss of $65.6 million for Q2 of 2024, with a combined ratio of 116.1% in what the firm described as a "challenging" quarter. According to the firm, a net unfavourable prior year casualty reserve development of $176 million increased the combined ratio by 16.3 points ... Read the full article
The Hanover expects $157.1m of catastrophe losses for Q2’24
19th July 2024
Property and casualty insurance holding company, The Hanover Insurance Group, Inc., has preliminary estimated pre-tax catastrophe losses of $157.1 million, or 10.7 points of net earned premium for the second quarter of 2024. The insurer has stated that the losses were primarily driven by severe convective storm activity and mostly impacted ... Read the full article
Guy Carpenter sees 10% revenue increase in Q2’24
18th July 2024
The reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, generated revenue of $632 million in the second quarter of 2024, an increase of 10%, or 11% on an underlying basis, contributing to another strong quarter for one of the world's largest re/insurance brokers. Guy Carpenter sits within MMC's Risk & ... Read the full article
Flood Re sees strong financial performance, securing profit of £23.8m
18th July 2024
Flood Re, the joint initiative between the UK insurance industry and the UK Government to promote the availability and affordability of flood insurance, has reported a "strong financial and operational performance" for the financial year 2023/2024, securing a profit before tax of £23.8 million. It's important to note, that 30% of ... Read the full article
Significant cat activity and casualty loss reserves to mark Q2 2024: JMP Securities
17th July 2024
Insurer results for the second quarter of 2024 are expected to be highlighted by an elevated level of catastrophes, ongoing concerns around casualty loss reserves, and negligible mark-to-market impacts on investment portfolios, JMP Securities has commented. This year’s second quarter has seen significant catastrophe activity, with severe convective storms (SCS) throughout ... Read the full article
Progressive reverses $95m May reinsurance recoverable
17th July 2024
US primary insurer Progressive has reversed the previously announced reinsurance recoverable of $95 million under its per occurrence reinsurance contracts, as the firm "remains close" to reaching the annual retention thresholds under its 2024 catastrophe aggregate excess of loss contracts. For May, Progressive reported net catastrophe losses of $722.1 million, ... Read the full article
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