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.
Marco Capital reports pre-tax profit for 2023 but motor claims dent technical result
24th May 2024
Marco Capital Holdings Limited, a European provider of legacy solutions to the non-life insurance and reinsurance market, has reported a pre-tax profit of $51.4 million for the full year 2023, an improvement from the loss of $18.8 million seen a year earlier, although the firm has still reported a technical ... Read the full article
Aviva increases general insurance premiums by 16% to £2.7bn in strong Q1
23rd May 2024
In their results for the first quarter of 2024, Aviva has posted general insurance premiums of £2.7 billion, representing an increase of 16% from the prior year quarter. Growth was heavily driven by both the UK & Ireland and Canada, with strong rates, new business, and customer retention. UK general insurance premiums ... Read the full article
Deutsche Rück reports 2023 gross premium income of €1.8bn
22nd May 2024
German reinsurer The Deutsche Rück Group expanded its business in 2023 with gross premium income increasing by 16.8% to just under €1.8 billion, while net premiums earned were up 18.3% at €1.2 billion. This strong growth was supported by both international markets in the Middle East, Latin America and Asia and ... Read the full article
Generali sees Q1 GWP grow to €26.4bn as operating result improves
21st May 2024
Generali has revealed that in Q1 of 2024, its gross written premiums (GWP) increased 21.4% from the previous year to €26.4 billion, driven by strong performances in both the Life and P&C segments. Broken down, GWP in the Life segment in Q1 of 2024 were €16.9 billion, up 28.4% from the ... Read the full article
Sompo Intl. reports stronger P&C combined ratio in FY’23 results
20th May 2024
Bermuda-based specialty re/insurer Sompo International Holdings has reported that the financial year 2023 combined ratio for commercial property & casualty (P&C) improved to 91.8% from 92.5%, driven by improved accident year loss ratios and lower catastrophe losses. The stronger combined ratio is reflected in a rise in underwriting income from $667.3 ... Read the full article
MS Amlin’s 2023 net income rises £316m YoY as CoR drops to 89.5%
20th May 2024
MS Amlin has reported a 2023 net income of £509 million, marking an increase of £316 million from 2022, while its combined ratio fell 7.6 points to 89.5%. The firm noted that its improved net income in 2023 also included the positive impact of £75 million from recognising deferred tax assets ... Read the full article
Tokio Marine’s international business posts 99.8% rise in profit in FY23
20th May 2024
Tokio Marine Holdings' international business has reported a 99.8% increase in profits for 2023, at JPY 436.9 billion, which the company attributes towards a strong underwriting result, as well as investment income, and the reversal of the impact of COVID-19 in Taiwan. North America produced the strongest performance at JPY 359.9 billion, ... Read the full article
MS Reinsurance’s 2023 profit soars to $366m as CoR improves
20th May 2024
MS Reinsurance has revealed that against a backdrop of significant loss activity, continued inflation and geopolitical uncertainties, it still produced a net profit of $366 million for the full year 2023, much improved from a net loss of $50 million in 2022. Profits in 2023 were reportedly driven by favourable non-cat ... Read the full article
Quarterly rate changes down across most major commercial lines: Applied Systems
17th May 2024
Applied Systems has released first quarter of 2024 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. Overall, the index shows that rates saw an increase of 6.14% in the first quarter of 2024, which is depressed relative to the rate increase of 7.39% in the same ... Read the full article
Thai Re sees 418% jump in net profit in Q1’24
17th May 2024
Thai Reinsurance Company (Thai Re) has released their results for the first quarter of 2024, which includes a net profit of THB 57 million ($1.58 million), 418% higher than the prior year's first quarter, due to improved reinsurance results. This was disclosed in financial statements lodged with the Stock Exchange of ... Read the full article
SCOR reports Q1’24 net income of €196m amid solid P&C performance
17th May 2024
French reinsurer SCOR has announced net income of €196 million for the first quarter of 2024 and a P&C re/insurance combined ratio of 87.1%, which includes a nat cat ratio of 7.2%, mainly impacted by the update of the market loss related to the Q3 2023 Italian hailstorm. Within P&C, SCOR ... Read the full article
Progressive’s property line CoR hits 116.7% in April on severe weather losses
16th May 2024
The Progressive Corporation has released its results for April, revealing a property line combined ratio of 116.7%, driven by weather losses throughout the month. The insurer's Property segment combined ratio for April is comprised of an expense ratio of 29.1% and a loss ratio of 87.6%. The division's net catastrophe loss ratio ... Read the full article
Aegon reports Q1’24 operating capital of €256m
16th May 2024
Life insurer and asset manager Aegon, in its trading update for Q1 2024, has reported a €256 million operating capital generation before holding funding and operating expenses. The firm added that with this growth it is on track to achieve guidance of around €1.1 billion for 2024. Capital ratios remain robust, ... Read the full article
Zurich P&C revenue hits $10.25bn in Q1 as GWP swell 9%
16th May 2024
Zurich Insurance Group has reported that Q1 2024 P&C insurance revenue was up 12% on a like-for-like basis to $10.25 billion, driven by strong commercial and retail growth. In commercial, rates improved across all regions with an average of 5%. Zurich noted that its North American line was a key contributor, ... Read the full article
Swiss Re posts Q1’24 net income of $1.1bn and P&C CoR of 84.7%
16th May 2024
Reinsurance giant Swiss Re has announced net income of $1.1 billion and a return on equity (ROE) of 21.3% for the first quarter of 2024, as property and casualty reinsurance net income hit $552 million with a combined ratio of 84.7%. For Q1 2024, Swiss Re is reporting under IFRS for ... Read the full article
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