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.
Hannover Re sees P&C reinsurance CoR strengthen as underwriting result improves
12th August 2024
Large reinsurer Hannover Re has reported a 21% rise in Group net income to €1.2 billion for the first half of 2024, with an 8.8% increase in property and casualty (P&C) reinsurance revenue as large loss costs came within budget at €566 million. Germany's Hannover Re has posted a strong set ... Read the full article
AFG’s Specialty P&C insurance segment generates 90.5% CR in Q2’24
9th August 2024
American Financial Group (AFG) has posted $209 million in net earnings for the second quarter of 2024, compared to $200 million from the second quarter of 2023. According to AFG, Q2'24's net earnings included after-tax non-core losses of $6 million. By comparison, net earnings in Q2'23 included net after-tax non-core items ... Read the full article
Poll suggests re/insurers will target growth in existing lines amid capital build-up
9th August 2024
As re/insurers accumulate capital and retain earnings following predominantly positive results, 42% of industry respondents in a recent Reinsurance News poll indicate that growth in existing lines is the most likely area for capital deployment. This comes as no surprise, given the ongoing favourable market conditions and improved results that have ... Read the full article
Oxbridge Re reports $821,000 net loss in Q2’24 on investments
9th August 2024
Oxbridge Re Holdings Limited, a Cayman Islands-based reinsurance company, reported a net loss of $821,000 for the second quarter of 2024, significantly larger than the net loss of $85,000 in Q2 2023, driven primarily by a negative change in the fair value of equity securities and other investments during the ... Read the full article
HCI Group’s net income climbs to $57.1m in Q2’24
9th August 2024
Florida-based insurtech HCI Group has posted its results for the second quarter of 2024, which includes a net income of $57.1 million and a pre-tax income of $76 million, a solid increase compared to the prior year's $14.9 million and $20.2 million figures. Adjusted net income (a non-GAAP measure which excludes ... Read the full article
Life and P&C growth drives Generali GWP increase in H1 2024
9th August 2024
Generali has reported its financial results for the first half of 2024, revealing a significant increase in gross written premiums (GWP), to €50.1 billion from the €42.2 billion seen in H1 2023, driven by substantial growth in both the Life and P&C segments. GWP in the Life segment in H1 2024 ... Read the full article
Sompo Intl. P&C reports dip in underwriting income for Q1 as CoR hits 94.1%
9th August 2024
Sompo International's commercial P&C business has reported an underwriting income of $127.4 million for Q1 of the 2024 financial year, down from $155.3 million in the same period of 2023, while its combined ratio increased 1.7 points to 94.1%. Broken down, Sompo International's commercial P&C North America segment contributed $19.3 million ... Read the full article
QBE’s profit more than doubles to $802m in H1’24
9th August 2024
Australian insurer QBE has reported a statutory net profit after tax of $802 million for the first half of 2024, compared with $400 million last year, as the combined ratio improved to 93.8% from 98.8% on the back of lower catastrophe costs, more stable reserve development, and supportive premium rate ... Read the full article
MS Reinsurance posts significant premium growth as CoR strengthens
9th August 2024
Zurich headquartered global reinsurer MS Reinsurance (MS Re) has reported a 305% rise in net income to $81 million for the first quarter of the fiscal year, as the combined ratio improved to 89.7% from 94.2% a year earlier. MS Re is part of global specialty re/insurer MS Amlin, which is ... Read the full article
Hippo reports 88% YoY growth in revenues in Q2 2024
9th August 2024
Home insurance firm Hippo has announced its financial results for the second quarter of 2024 reporting revenue growth of 88% year over year (YoY), with premium retention more in-line with risk-retention. At $90 million, up from $48 million in Q2 2023, revenue growth in Q2 outpaced Total Generated Premium (TGP) growth, ... Read the full article
Kemper’s net income reaches $75.4m in Q2, Specialty P&C underlying CR hits 89.6%
9th August 2024
In their results for the second quarter of 2024, Kemper Corporation has posted a net income of $75.4 million, a major improvement compared to a net loss of $97.1 million from the second quarter of 2023. Kemper's total revenues for Q2'24 decreased $132.9 million, or 10.5%, to $1,129.9 million, compared to the previous ... Read the full article
Assurant sees net income increase 21% in Q2 2024
8th August 2024
US specialty insurance group Assurant has reported a GAAP net income of $188.7 million for the second quarter of 2024, representing a 21% increase compared to the $156.3 million reported in the same period last year. According to the company, this increase was mainly due to a lower after-tax loss from ... Read the full article
Global Indemnity’s net income increases 83% in H1’24
8th August 2024
Global Indemnity Group (GBLI) has released its results for the first half of 2024, which includes an 83% increase in net income available to shareholders of $21.2 million, compared to $11.6 million from the same period in 2023. GBLI's operating income for H1'24 also witnessed a notable increase, as it climbed ... Read the full article
Porch Group sees $110.8m of revenues, files updated application to form Reciprocal
8th August 2024
Porch Group, a homeowners insurance and vertical software platform, has reported total revenue of $110.8 million, which increased 12% compared to the same period the prior year, with an improved net loss of $64.3 million in the second quarter of 2024. In Q2 2024 the firm’s net loss grew compared to ... Read the full article
Liberty Mutual’s net income climbs to $717m in Q2
8th August 2024
Liberty Mutual Holding Company Inc. (LMHC) has posted a net income of $717 million for the second quarter of 2024, up substantially from the net loss attributable to LMHC of $585 million in the same period in 2023. At the same time, the organisation posted a 3.3% decrease in net written ... Read the full article
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