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.
Palomar reports premium and GWP growth in Q3
3rd November 2022
California-based Palomar Holdings, Inc., has reported an increase in its gross written premiums (GWP) of 66.2% to $253.1 million for the third quarter of 2022, compared to $152.3 million reported in the same period last year. Palomar’s net income also saw a rise this quarter, to $4.3 million compared to $0.2 ... Read the full article
Selective Insurance posts rise in net premiums in robust Q3 results
3rd November 2022
Selective Insurance Group has reported $903.4 million of net premiums written in the third quarter of 2022, an 11% increase from $813 million in the third quarter of 2021. At the same time, the company’s net premiums written for the year so far currently stand at $2.7 billion, an 11% increase ... Read the full article
Greenlight Re reports Q3 net loss as nat cats hamper underwriting operations
3rd November 2022
Greenlight Re has announced a net loss of $18.5 million for the third quarter of 2022, stating that Hurricane Ian loss, while manageable, overshadowed the significant progress the company has made in its underwriting operations. This has widened somewhat compared to a net loss of $13.9 million in Q3 of 2021. ... Read the full article
Kemper reports a net loss of $76.2m in Q3
3rd November 2022
Kemper Corporation has reported a net loss of $76.2 million for the third quarter of 2022, compared to a net loss of $75.3 million for the third quarter of 2021. Total revenues for Q3 of 2022 decreased $67.0 million, or 5%, to $1,377.6 million, compared to Q3 of the previous year, ... Read the full article
Allstate reports $694mn net loss in Q3 results
3rd November 2022
Allstate has announced a net loss of $694 million for the third quarter of 2022, compared to a net income of $508 million in the prior year quarter, primarily due to an underwriting loss and equity valuation declines. The company’s adjusted net loss for the quarter was $420 million, compared to ... Read the full article
SiriusPoint shuts offices in property cat restructure, after Q3 loss
3rd November 2022
SiriusPoint has announced plans to close three offices from which it underwrites property catastrophe reinsurance and reduce its footprint in two more, as it looks to restructure its underwriting platform following a net loss of $98 million for the Q3 period. The company reported an underwriting loss of $47 million for ... Read the full article
Lancashire Holdings sees gross written premiums up by 34.3%
3rd November 2022
Lancashire Holdings has released its result for the first nine months of this year, saying that gross written premiums grew by over a third in this time to reach $1.3bn. A statement from the firm also said that it expected to see net losses from Hurricane Ian in the region of ... Read the full article
AXA XL Re nat cat reduction continues to offset revenue growth
3rd November 2022
Global insurer AXA has reported that its gross revenues increased by 2% to €78.4 billion over the first nine months of 2022, as strong growth across the company’s commercial and personal lines business was offset by a reduction in natural catastrophe exposure for AXA XL Reinsurance. Overall property and casualty (P&C) ... Read the full article
Hannover Re posts rise in net income despite large losses exceeding budget for 9M 2022
3rd November 2022
German reinsurer Hannover Re has reported group net income growth of 1.7% to €871 million for the first nine months of 2022, despite the firm's net large losses coming in above budget for the period at €1.484 billion. Alongside slight growth in net income, Hannover Re's 9M 2022 operating profit rose ... Read the full article
Step change in the pricing & structuring of reinsurance is required, says RenRe’s O’Donnell
2nd November 2022
It's important that property catastrophe is the most profitable line within the global property and casualty (P&C) market, but in order for this to happen, "there must be a step change in the pricing and structuring of reinsurance coverage", according to Kevin O'Donnell, President and Chief Executive Officer (CEO) of ... Read the full article
Verisk’s insurance segment sees growth despite revenue decline
2nd November 2022
For the third quarter of 2022 insurance and analytics provider, Verisk has reported a net income of $189.4 million, down 6.1% from the $ 201.7 million reported in the same period last year. The firm’s consolidated revenues for Q3 2022 was $745.3 million, down 1.8%, compared to the $759.0 million reported ... Read the full article
RLI posts underwriting profit despite Ian losses
2nd November 2022
Specialty insurer RLI has reported net earnings of $439.9 million for the third quarter of 2022, including underwriting income of $8.8 million on a combined ratio of 97.0%. This was despite the company reporting an underwriting loss of $8.8 million in its property segment, due to $34.8 million impact from third ... Read the full article
The Hanover reports top line growth, despite cat losses of $90mn
2nd November 2022
The Hanover Insurance Group has reported $1.50 billion of net premiums written (NPW) in the third quarter of 2022, a 9.5% increase compared to $1.37 billion of net premiums written in the third quarter of 2021. Net investment income for the quarter was $73 million, a decrease from $78.8 million from ... Read the full article
Assurant sees 95% net income decrease in Q3
2nd November 2022
US specialty insurer Assurant, Inc. has reported a GAAP net income of $7.3 million for the third quarter of 2022, a 95% decrease compared to $151 million from the same period last year. The company noted that the decline was primarily due to the absence of net unrealized gains from Assurant ... Read the full article
Markel falls to $367m loss on investment volatility
2nd November 2022
US re/insurer Markel Corporation has reported a comprehensive loss of $367.4 million for the third quarter of 2022, due mainly to investment losses and unrealized losses on its fixed maturity portfolio. The loss compares to a positive result of $80.2 million for the same period last year, and brings Markel’s overall ... Read the full article