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.
SCOR accelerates L&H reserving review after negative experience variance in Q1’24
16th July 2024
Following the negative experience variance in Q1 2024, French reinsurer SCOR has accelerated its annual L&H reserving assumptions review, and revealed that its Life & Health (L&H) insurance service result (ISR) in 2024 is now expected to be significantly less than the predicted €500 million outlined in its first quarter ... Read the full article
Toa Re sees FY 2024 net income increase to $97.4m
12th July 2024
Japanese reinsurance group Toa Re has reported that net income for the fiscal year ending March 2024 was 15.5 billion yen ($97.4 million), marking an increase of 13.1 billion yen ($82.3 million) compared to the previous fiscal year. Toa Re reported that its ordinary income for fiscal year 2024 decreased by ... Read the full article
Nat Re posts 862% increase in net profits in 45th year
8th July 2024
The National Reinsurance Corporation of the Philippines (Nat Re) celebrated its 45th anniversary with record figures in 2023, posting a substantial 862% increase in net profits driven by the firms underwriting and investment incomes. At its annual stockholders' meeting, the organisation posted a record net profit of Php 536.1 million (US$9.11 ... Read the full article
Lockton sees 15% rise in revenue as its reinsurance arm achieves impressive growth in FY24
25th June 2024
Lockton, Inc., the independent and privately held insurance brokerage, has reported global revenue of $3.55 billion for its fiscal year to April 30th, 2024, supported by solid growth at its reinsurance arm, Lockton Re. Overall, Lockton saw a 15% rise in global revenue from the $3.09 billion seen in the prior ... Read the full article
Asian Re achieves 76% increase in net profit in 2023 fiscal year
18th June 2024
Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, has reported a substantial 76% rise in net profit to USD 3.21 million for the fiscal year 2023, marking a significant milestone in its financial performance. Underwriting and operating performance metrics are expected to improve in the intermediate term as Asian Re ... Read the full article
Ascendent Re sees Q1 net income increase as assets grow over $100m
14th June 2024
Cayman Islands-based annuity reinsurer Ascendant Re has revealed that its Q1 2024 net income was $18.06 million, up considerably compared to Q4 2023's figure of $6.66 million. Meanwhile, Ascendant Re's total assets increased by $18.05 million in Q1 2024 to $112.27 million. At the same time, the firm's net book value per ... Read the full article
B.P. Marsh sees Net Asset Value climb 20.9% in 2023
11th June 2024
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value (NAV) climbed 20.9% from £189.5 million to reach £229.2 million in its full year results for the year ended 31 January 2024. At the same time, B.P. Marsh also recorded a £43.6 million increase in the equity ... Read the full article
U.S. P&C industry sees $9.3bn underwriting gain in Q1, CR improves to 94.2%
7th June 2024
The U.S. property & casualty (P&C) industry recorded a $9.3 billion net underwriting gain in the first quarter of 2024, marking a substantial improvement from the $8.5 billion loss recorded in the prior year period, according to global ratings agency AM Best. The turnaround in the personal lines segment was a ... Read the full article
Guidewire sees Q3 2024 total revenue increase 16% to $240.7m
5th June 2024
Guidewire has revealed that total revenue for Q3 of the fiscal year 2024 was $240.7 million, an increase of 16% from the same quarter in 2023. Guidewire also disclosed that its subscription and support revenue was $138 million in Q3 of 2024, an increase of 28% from the corresponding previous year ... Read the full article
2023 marks record year for Compre with best results in its 30-year history
4th June 2024
Bermuda-domiciled international specialty reinsurer Compre has revealed that 2023 was the strongest year in its history, with gross insurance reserves under management growing by 112% YoY to $1.6 billion, driven by newly acquired reserves of over $1 billion. Elsewhere in its full-year 2023 results, Compre disclosed that invested assets stood at ... Read the full article
IRB (Re) reports improved net income and combined ratio
4th June 2024
Brazilian reinsurer IRB (Re) has announced its first quarter of 2024 financial result, reporting an improved net income of around USD 15 million (R$ 79.1mn) as well as an underwriting profit of around USD 23 million (R$ 122.4mn), and a combined ratio of 99%. In the same period last year, the ... Read the full article
GIC Re posts underwriting loss in fiscal full year, CR deteriorates to 111.8%
3rd June 2024
GIC Re, the Indian public sector reinsurer, has posted an underwriting loss of ₹4,006.56 crore for the fiscal year ended 31st March 2024 (FY24), compared to the ₹2,341.37 crore loss from the prior year. At the same time, the firm also posted a combined ratio of 111.8%, representing a deterioration of ... Read the full article
HDI Global reports improved CoR for Q1’24 as insurance revenue rises
30th May 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has reported a first quarter 2024 combined ratio of 91.8%, an improvement of 1.4 percentage points year-over-year. The insurer's insurance revenue rose by 13% in Q1 2024, or 14% after adjustment for currency effects, reported at €2.3 billion compared to Q1 ... Read the full article
Helios reports solid 2023 results driven by “outstanding” Lloyd’s market conditions
30th May 2024
In its full year 2023 financial results, Helios Underwriting has revealed it achieved a total comprehensive profit of £29.9 million, up from a loss of £0.1 million in 2022, while its capacity portfolio combined ratio improved to 86%. Helios explained that it has positioned itself to "maximise growth opportunities" by doubling ... Read the full article
VIG sees GWP increase to €4.3bn in Q1 as it remains on course for growth
29th May 2024
Vienna Insurance Group (VIG) has revealed that its gross written premiums increased to €4.3 billion in the opening quarter of 2024, up by 11% compared to 2023's Q1 figure of €3.9 billion. Hartwig Löger, CEO and Chairman of the Managing Board of VIG commented, “VIG once again recorded double-digit premium growth ... Read the full article
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