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.
American Coastal reports lower net income for Q1’24 as GWP rise
13th May 2024
American Coastal Insurance Corporation, a property and casualty insurer, has reported net income for Q1 2024 of $23.6 million, or $0.48 per diluted share, compared to $267.3 million, or $6.14 per diluted share, for Q1 2023. This decrease in net income reflects $236 million of income from discontinued operations in Q1 ... Read the full article
Assured Guaranty starts the year strong with 35% y-o-y net income increase
10th May 2024
Assured Guaranty has announced its financial results for the first quarter of 2024, reporting an increased net income of $109 million compared to the $81 million reported in the same period the year prior. Adjusted operating income was also up, to $113 million for Q1 2024, compared to $68 million Q1 ... Read the full article
Maiden Holdings sees improved net income and lower underwriting loss in Q1’24
10th May 2024
Maiden Holdings Ltd., has posted its results for the first quarter of 2024, which includes a net income of $1.5 million, compared to a net loss of $11.3 million from the prior year period. According to the firm, this improvement was due to higher total income from investment activities of $17.1 ... Read the full article
QBE continues momentum in GWP growth, underwriting performance “tracking to plan”
10th May 2024
Australian insurer QBE continued to report growth in gross written premium in Q1 2024, up 2% on the prior corresponding period on both a reported and constant currency basis. The firm has also disclosed that group-wide, there were renewal rate increases of 7.3% in Q1 2024, in line with expectations and ... Read the full article
Oxbridge Re sees net loss in Q1 as CoR climbs to 99.8%
10th May 2024
Oxbridge Re, the Cayman Islands-based reinsurance company, has disclosed a Q1 2024 net loss of $905,000 compared to a net income of $142,000 in Q1 2023. According to the firm, the decrease is primarily due to the negative change in the fair value of equity securities and investments during the opening ... Read the full article
Ark reports Q1 CoR of 94% as GWP hit $872m
10th May 2024
White Mountains has released its Q1 2024 results, noting that the combined ratio for its Ark segment was 94%, which included slight net favourable prior year development and minimal catastrophe losses. However, Ark's non-catastrophe losses in Q1 2024 included $15 million on a net basis related to the collapse of the ... Read the full article
Fidelis reports GPW growth but large losses dent Q1’24 underwriting income
10th May 2024
Fidelis Insurance Holdings Limited, a Bermuda-domiciled re/insurer, has reported underwriting income of $69.2 million, with a combined ratio of 85.8% for Q1 2024, compared to $80.6 million and 79.1%, respectively, for Q1 2023, as the firm’s gross premiums written (GPW) for the quarter increased 21.6% to $1.5 billion. Alongside growth in ... Read the full article
Saudi Re sees 183.87% net profit increase in Q1 2024
10th May 2024
Saudi Re has reported a net profit after zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 31.79 million for the first quarter of 2024, a 183.87% increase from the same quarter the year prior. According to the reinsurer’s interim results, this growth is ... Read the full article
James River starts 2024 with net income growth in Q1
9th May 2024
James River Group Holdings Ltd. has released its financial results for the first quarter of 2024 reporting a net income of $20.9 million and a combined ratio of 95.3%. These results compared to the prior year first quarter’s when the company reported a lower net income, $5.27 million, and a combined ... Read the full article
Liberty Mutual sees big net income improvement in Q1’24, CR hits 95.8%
9th May 2024
Liberty Mutual Holding Company Inc., (LMHC) and its subsidiaries have posted a net income attributable to LMHC of $1.535 billion for the first quarter of 2024. The reported Q1 net income compares to a net loss attributable to LMHC of $74 million that was posted in the same ... Read the full article
Brookfield Re’s net income hits $337m in Q1
9th May 2024
Brookfield Reinsurance has recorded a net income of $337 million for Q1 2024, up considerably compared to a net loss of $93 million in the opening quarter of 2023, driven by strong operating performance as well as favourable mark-to-market movement on the firm's derivatives and funds withheld insurance reserves. Also contributing ... Read the full article
HCI Group reports Q1’24 gross premiums earned increase to $256.6m
9th May 2024
Florida-domiciled insurtech HCI Group, Inc., has reported that Q1 2024 consolidated gross premiums earned increased to $256.6 million from $180.1 million in the prior year quarter, which includes $67 million of premium from the assumption of policies from Citizens Property Insurance Corporation. The firm has reported pre-tax income of $77.4 million ... Read the full article
QIC Group reports 11% spike in net profit in Q1’24 results
9th May 2024
Qatar Insurance Company, a large insurer in Qatar and the Middle East North Africa region, has reported a net profit of QAR 194 million (USD 53m) for the first quarter of 2024, compared to QAR 175 million (USD 48m) in Q1 2023. In terms of growth, domestic and MENA operations gross ... Read the full article
Hamilton’s Q1 CoR increases to 91.5% as Baltimore bridge losses hit $37.9m
9th May 2024
Hamilton's Q1 2024 combined ratio has increased by 3.6 points year over year to 91.5%, primarily driven by losses of $37.9 million arising from the Francis Scott Key Baltimore Bridge collapse. The attritional loss ratio in Q1 of 2024, net of reinsurance, was 57.2%, an increase of 8.1 points compared to ... Read the full article
Greenlight Re reports stronger Q1’24 CoR as underwriting income rises
9th May 2024
Greenlight Capital Re, Ltd. has reported a 98% combined ratio for Q1 2024 compared to 99.8% in Q1 2023, as the firm's underwriting income increased to $3.4 million from $0.4 million. The current-year catastrophe losses, including the Baltimore bridge incident, added 7.7% to the firm's combined ratio during the first quarter ... Read the full article
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