Reinsurance News
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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.
SiriusPoint CEO hails another quarter of positive underwriting performance
8th August 2024
Bermuda-based re/insurer SiriusPoint recently posted its seventh consecutive quarter of positive underwriting results in Q2 2024, partly attributable to new managing general agent (MGA) partnerships and the expansion of existing ones, according to CEO Scott Egan. In an interview with Reinsurance News, Egan discussed the firm's results in both the second ... Read the full article
Hamilton records all-time low CoR of 84.4% in Q2’24
8th August 2024
Bermuda-based re/insurer Hamilton Insurance Group has reported an all-time low combined ratio of 84.4% in the second quarter of 2024 compared to 89.5% in Q2 2023, as underwriting income improved from $34.9 million to $65.3 million. The firm’s gross premiums written significantly increased by 19.5% in the second quarter to $603.3 ... Read the full article
Zurich sees best-ever H1 operating profit of $4bn
8th August 2024
Zurich has announced that its group business operating profit (BOP) climbed to a record $4 billion in H1 of 2024, marking an increase of 7% compared to the same period of 2023. The firm's net income attributable to shareholders also increased in H1 of 2024, rising 21% to $3 billion. Zurich's P&C ... Read the full article
Allianz reports €3.9bn operating profit in Q2, driven by strong results in all segments
8th August 2024
In their results for the second quarter of 2024, Allianz has posted a €3.9 billion operating profit, with all of the company's segments contributing to this result, whilst the firm's property & casualty (P&C) segment business produced a strong underlying performance which largely offset the impact of elevated natural catastrophes. At ... Read the full article
Lancashire’s H1’24 GPW hits $1.3bn with strong reinsurance performance
8th August 2024
Bermuda-based Lancashire Holdings Limited has reported that gross premiums written (GPW) increased by $98.2 million, or 8.3% year-on-year to approximately $1.3 billion for the first half of 2024, split $734 million reinsurance and $547 million insurance. In the company's reinsurance segment, GPW increased by $76.6 million, or 11.6% for the first ... Read the full article
Beazley delivers record H1 profit of $728.9m despite worlds largest IT outage
8th August 2024
London-headquartered insurer Beazley has announced a significant rise in its H1 2024 profit before tax, reaching $728.9 million, a sharp increase from the $366.4 million recorded in H1 2023, while the company's undiscounted combined ratio improved to 81%, down from 88% in the same period last year. These gains were achieved ... Read the full article
Munich Re’s profit rises on strong reinsurance result
8th August 2024
Global reinsurer Munich Re has today reported that its reinsurance business contributed €1.3 billion and €3.2 billion to the Group's net result in Q2 and H1 2024, respectively, and despite a rise in major loss expenditure, the property and casualty (P&C) reinsurance combined ratio strengthened. Within reinsurance, insurance revenue from insurance ... Read the full article
Ark’s Q2 GWP climb to $697m as CoR remains flat at 89%
7th August 2024
White Mountains Insurance Group has released its Q2 2024 results, revealing that gross written premiums within its Ark/WM Outrigger segment rose to $697 million, up from $606 million in the same period of 2023. Meanwhile, Ark/WM Outrigger's net written premiums in Q2 of 2024 were $503 million, and net earned premiums ... Read the full article
The Baldwin Group’s total revenue climbs 14% to reach $339.8m in Q2’24
7th August 2024
The Baldwin Group has announced that total revenue climbed 14% year-over-year to $339.8 million in the second quarter of 2024, compared to $297.1 million from the second quarter of 2023. At the same time, the company also posted organic revenue growth of 19% during Q2'24. However, the organisation also posted a net ... Read the full article
L&G sees core operating profit of £849m in H1’24, expects it to grow by mid-single digits y-o-y
7th August 2024
Legal & General reports a “stable operating performance” in the first half of 2024, with core operating profit of £849 million slightly ahead of the £844 million reported in the same period the year prior. Profit after tax stood at £223 million in H1 2024, which compares to the £377 million ... Read the full article
Greenlight Re’s Q2’24 underwriting profit declines on US SCS losses
7th August 2024
Greenlight Capital Re, Ltd. has reported a dip in its combined ratio to 99.8% for the second quarter of 2024 compared to 96.2% a year earlier, as underwriting income decreased by $5.1 million year-on-year amid elevated losses from severe convective storms (SCS) in the US. The Cayman Islands domiciled reinsurer notes ... Read the full article
IGI sees slight drop in net income for Q2 as CoR hits 81.2%
7th August 2024
IGI has revealed that net income for Q2 of 2024 was $32.8 million, down from $40.5 million in the same quarter of 2023, while its combined ratio was 81.2%, up from 73.5% in the same period last year. According to the firm, its net income was largely driven by underwriting income ... Read the full article
Hiscox Re & ILS reports strong H1’24 growth as CoR strengthens to 73.8%
7th August 2024
Hiscox Re & ILS, the Group's reinsurance businesses in London and Bermuda and insurance-linked securities (ILS) activity, produced a strong and improved combined ratio of 73.8% for the first half of 2024, while net premiums written in the segment rose by 10.5% as Hiscox looked to capitalise on attractive market ... Read the full article
Bowhead Specialty sees $5.5mn net income in Q2 2024 with GWP increase
7th August 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the second quarter of 2024, reporting a net income of $5.5 million and a 50.4% increase in gross written premiums (GWP). The firm’s net income for the quarter was 15.6% down when compared to the ... Read the full article
Ivans Index shows increase in premium renewal rates in July
6th August 2024
Ivans, a division of Applied Systems, has reported an increase in average premium renewal rate change across all major commercial lines of business, except for Workers' Compensation, year over year in July. According to the Ivans Index, July experienced an increase in average premium renewal rate change across Commercial Auto, Business ... Read the full article
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