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.
Markel’s underwriting profit dips to $134.2m in Q2, CR sits at 93.5%
1st August 2024
Global re/insurer Markel Group has posted an underwriting profit of $134.2 million for the second quarter of 2024, an 8% decrease from the $145.3 million figure the firm reported last year. At the same time, the organisation's total operating revenues for Q2 2024 sat at $3.7 billion, a decrease from the ... Read the full article
Everest reports rise in Q2’24 net income amid strong reinsurance result
1st August 2024
Bermuda-based insurer and reinsurer, Everest Group, Ltd., has reported net income of $724 million and a Q2 2024 combined ratio of 90.3% as pre-tax underwriting income reached $358 million, driven by a strong result in its reinsurance segment. Year-on-year, the combined ratio has deteriorated slightly from the 87.7% in Q2 2023, ... Read the full article
Allstate sees Q2 net income of $301m as Property-Liability segment improves
1st August 2024
US primary insurer Allstate has revealed that its net income applicable to common shareholders in Q2 of 2024 was $301 million, up from a net loss of $1.4 billion in the same quarter of 2023, driven by improved Property-Liability underwriting results. Earned premiums of $13.3 billion in the Property-Liability segment in ... Read the full article
AIG reports Q2’24 net loss on Corebridge deconsolidation
1st August 2024
Global insurer AIG has reported a net loss of $4 billion in its second quarter 2024 results, driven by the recognition of a loss as a result of Corebridge deconsolidation, with divested businesses denting the performance of its general insurance (GI) business. AIG explains that it recognized a loss of $4.7 ... Read the full article
Verisk sees consolidated revenues grow 6.2% in Q2 2024
31st July 2024
Verisk, a global data analytics and technology provider, has reported an increase in its consolidated and organic constant currency (OCC) revenues in the second quarter of 2024, with growth contributions from both underwriting and claims within Insurance. Consolidated revenues were $717 million, up 6.2% from the $675 million reported in Q2 ... Read the full article
Mercury General sees improved net income of $62.6m in Q2 2024
31st July 2024
Mercury General Corporation has announced its financial results for the second quarter of 2024, reporting a net income of $62.6 million, compared to the -$41.5 million reported in the same period the year prior. Net premiums earned for the quarter sat at $1.23 billion, a 19.5% increase from the $1.03 billion ... Read the full article
Lemonade posts $57.2m net loss in Q2 results, IFP increases 22% YoY
31st July 2024
Lemonade, a digital insurance firm powered by AI, has posted a net loss of $57.2 million for the second quarter of 2024, compared to a loss of $67.2 million from the second quarter of 2023. At the same time, in-force premium (IFP) increased by 22% year on year (YoY) to $838.8 ... Read the full article
Arch Capital’s underwriting income up 26% in Q2’24
31st July 2024
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has reported strong group-wide underwriting income growth of 25.7% for Q2 2024 to $762 million, compared with $606 million in Q2 2023, driven by an improved underwriting performance in its reinsurance division. Group-wide, gross premiums written (GPW) were $5.4 billion for the quarter, ... Read the full article
PartnerRe’s H1 operating income falls on increased cat losses and reserve strengthening
31st July 2024
PartnerRe has revealed that its operating income for H1 of 2024 was $366 million, down from $636 million in H1 of 2023, driven by an increased frequency of mid-sized natural catastrophe events and a reserve strengthening in its U.S. Casualty lines. At the same time, PartnerRe's net income in H1 of ... Read the full article
AXIS sees Q2 net income hit $204m as GWP swell 7% to $2.4bn
31st July 2024
AXIS Capital has revealed that net income available to common shareholders in Q2 of 2024 was $204 million, up from $143 million in Q2 of 2023, while gross written premiums (GWP) increased by $156 million, or 7%, to $2.4 billion. Within this GWP growth, there was an increase of $130 million, ... Read the full article
Conduit Re posts strong reinsurance service result as GPW rises 36% in H1’24
31st July 2024
Bermuda-based Conduit Re has reported a 25% rise in comprehensive income to $98.1 million for the first half of 2024, as gross premiums written (GPW) swelled 36% to $737.8 million on the back of strong growth in both property and specialty. Group-wide, H1'24 reinsurance revenue rose 37% to $382 million from ... Read the full article
Enstar reports $126m net income with ROE of 2.5% in Q2’24
30th July 2024
Global insurance group Enstar has reported net earnings of $126 million for the second quarter of 2024, a substantial increase from $21 million in Q2 2023. The company's return on equity (ROE) improved to 2.5% this quarter, compared to 0.5% from the previous year, while adjusted ROE was 2.9% for the ... Read the full article
SCOR reports Q2’24 net loss as L&H assumption review more than offsets solid P&C result
30th July 2024
French reinsurer SCOR has fallen to a net loss of €308 million for the second quarter of 2024 as a result of the previously announced Life & Health (L&H) assumption review, which more than offset a solid performance in its Property & Casualty (P&C) business. SCOR warned in mid-July that ... Read the full article
Donegal Group posts 9.1% increase in NPW, CR sits at 103%
29th July 2024
Donegal Group, the US primary holding company, has posted a 9.1% increase in net premiums written (NPW) in the second quarter of 2024, climbing to $247.2 million, compared to last year's $226.5 million. According to the firm, the increase in NPW represents the combination of a 7.1% growth seen in commercial ... Read the full article
Continental Re reports strong 2023 results as underwriting profit rises 108%
29th July 2024
Pan-African reinsurer Continental Reinsurance Plc has reported a net reinsurance service result, so underwriting profit, of NGN 9.14 billion (USD 5.6m) for 2023, a 108% increase from 2022’s NGN 4.4 billion (USD 2.7m). The firm’s reinsurance revenue increased to NGN 112.46 billion (USD 69.4m), up from NGN 86.36 billion (USD 53.3m) ... Read the full article
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