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.
Tysers contributes AUD 97m to AUB Group’s FY 2024 underlying profit
21st August 2024
Australian insurance broker AUB Group has released its 2024 financial year results, reporting that Tysers contributed AUD 96.8 million to its underlying pre-tax profit. AUB Group acquired Tysers from Odyssey Investment Partners in September of 2022, with FY 2024 being the first full year of ownership. According to the firm, Tysers' ... Read the full article
Kenya Re sees improved combined ratio in H1 2024
20th August 2024
Kenya Reinsurance Corporation Limited (Kenya Re) has announced its financial results for the first half of 2024, reporting after-tax profits totalling KSh 1.06 billion (USD 8.2m), down from KSh 1.17 billion (USD 9.1m) during the same period the year prior. The firm reported an improved combined ratio of 94% compared to ... Read the full article
HDI Global posts 91.1% CoR in H1’24, insurance revenue reaches €4.8bn
20th August 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has posted a combined ratio of 91.1% for the first half of 2024, an improvement from 93.1% from the same period in 2023. At the same time, the company's insurance revenue totaled €4.8 billion for the period, a 14% increase from ... Read the full article
Austral Re sees net profit growth in H1’24 despite impact of floods in Rio Grande do Sul
20th August 2024
Brazilian reinsurance company Austral Re has announced its financial results for the first half of 2024, reporting a net profit of R$ 27.7 million (USD 5m) and a 13% increase in gross reinsurance premiums (GRP) compared to the same period in the year prior. Despite the negative impact the Rio Grande ... Read the full article
QIC’s net profit reaches QAR 360m in H1’24
19th August 2024
Qatar Insurance Company (QIC), has posted a net profit of QAR 360 million ($98.9 million) for the first half of 2024, representing an 11% increase from QAR 325 million ($89.2 million) from the prior year period. At the same time, the organisation's domestic and Middle East North African (MENA) gross written ... Read the full article
Suncorp sees FY net profit of around $1.2bn as GWP increase 13.9%
19th August 2024
Australian insurer Suncorp Group has revealed that net profit after tax for FY2024 was $1.197 billion, up from $1.071 billion in 2023, while cash earnings increased to $1.372 billion from $1.177 billion. Suncorp also recorded a higher net investment income of $661 million, driven by a strong underlying yield on the ... Read the full article
MNRB Holdings posts 38.2% increase in reinsurance profit
16th August 2024
MNRB Holdings Berhad (MNRB), has released its financial results for the first quarter ended 30 June 2024 (Q1 FY2025), which includes an RM86.1 million ($19.42 million) net profit from Malaysian Re, the company's reinsurance and retakaful business, representing a 38.2% increase from the prior year period. The company stated that the ... Read the full article
IRB (Re) sees net income increase in Q2 as CoR improves
15th August 2024
Brazilian reinsurer IRB (Re) has announced financial results for the second quarter of 2024, reporting a net income of R$ 65 million (USD 12m), an underwriting profit of R$ 34 million (USD 6.2m) and an improved combined ratio of 106% from last year's 107.5%. Compared to the second quarter of 2023, ... Read the full article
Talanx’s H1 net income reaches over €1bn, CoR improves to 91.2%
15th August 2024
Talanx Group, the parent company of Hannover Re and HDI, increased its total group net profits by 32% in the first half of 2024, exceeding €1 billion for the first time. Based on this number, Talanx affirmed that it remains highly confident of exceeding the full-year group net income target of ... Read the full article
Aspen’s reinsurance GWP up significantly in Q2’24 on targeted casualty & specialty growth
15th August 2024
Insurer and reinsurer Aspen Insurance Holdings Limited grew its reinsurance gross written premiums (GWP) 42% in the second quarter of 2024 to $566.2 million, as the segment generated underwriting income of $44.8 million with a combined ratio of 86.3%. Aspen's insurance and reinsurance businesses performed well in the second quarter, contributing ... Read the full article
Fidelis reports 25% rise in GPW and CoR of 92.7% in Q2’24
15th August 2024
Bermuda-based Fidelis Insurance Holdings Limited has reported net income of $53.7 million for the second quarter of 2024, despite catastrophe and large losses rising 113% year-on-year as the combined ratio weakened by 10.7 percentage points to 92.7%. The insurer and reinsurer's Q2'24 net income decreased by 36% year-on-year, as operating income ... Read the full article
Conifer Holdings sees 57.5% decline in GWP in Q2’24
14th August 2024
In their results for the second quarter of 2024, Conifer Holdings has reported a 57.5% decrease in gross written premiums (GWP), falling to $19.0 million, compared to the $44.7 million figure from the second quarter of 2023. According to the firm, this decrease reflects the company's continued progress toward its goal ... Read the full article
Aviva’s group operating profit hits £875m in H1 as GI premiums expand 15%
14th August 2024
Aviva has revealed that its group operating profit was £875 million in H1 of 2024, up 14% from the £765 million recorded in H1 of 2023. Meanwhile, Aviva's General Insurance premiums grew 15% in H1 to £6 billion, with UK&I up 18% and Canada up 10%. Strong pricing discipline and new business ... Read the full article
Coface sees €142.3mn net income in H1’24, welcomes Rathman to Board
13th August 2024
Credit insurer Coface has reported its first half of 2024 results with an improved combined ratio of reinsurance and a net income of €142.3 million, up 10% compared to the same period the year prior. For H1 2024 the insurer also recorded a consolidated turnover of €923 million down -3.1% at ... Read the full article
VINARE reports 8.2% y-o-y revenue increase in H1’24
12th August 2024
Vietnam National Reinsurance Corporation (VINARE) has announced its financial results for the first half of 2024, reporting a total revenue of VND1,696 billion, around $68 million dollars, an 8.2% increase year-on-year and attaining 58.1% of the yearly target. The firm’s gross written premium amounted to VND1,607 billion, around $64 million, reflecting ... Read the full article
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