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.
Beazley reports better-than-expected results for Q1 2022
6th May 2022
Beazley is reporting a 27% increase in gross written premiums between Q1 2021 and Q1 2022. The firm said that these had been $971m last year, but recently went up to $1,229m. At the same time, renewal rates reached 17%, up one percentage point from the year before. However, it did ... Read the full article
SCOR reports €80m loss in Q1, but premiums up with strong growth in P&C
6th May 2022
Global reinsurer SCOR has reported a net loss of €80 million for the first-quarter of 2022, as the firm's natural catastrophe ratio exceeded budget, COVID-19 continued to impact life and health (L&H), and it reserved for losses related to the war in Ukraine. The net loss compares with income of €45 ... Read the full article
Talanx reports double-digit percentage rise in premium income
5th May 2022
Talanx is reporting what it calls ‘a clear double-digit percentage rise’ in premium income in Q1 2022. The firm said that gross written premiums increased by 16.5% compared to the prior-year quarter to €15.9bn; the rise after adjustment for exchange rate effects was 13.4%. All divisions contributed to this growth. Operating profit ... Read the full article
HCI Group sees rise in premiums in strong Q1
5th May 2022
Florida-based insurtech HCI Group has announced consolidated gross written premium (GWP) growth to $177.3 million for the first quarter of 2022, a 40.9% increase from $125.8 million from the same period last year. The company also saw a 36.6% increase in consolidated gross premium as they earned $178.9 million, compared to ... Read the full article
Liberty Mutual Insurance sees net income plunge $358m in Q1 2022
5th May 2022
Liberty Mutual Insurance has reported net income of $498m for Q1 2022, down from $856m in the same period in 2021. David H. Long, chairman and CEO of the firm, acknowledged the fall directly in a statement, blaming market uncertainties brought by macroeconomic and geopolitical headwinds. He said that the firm ... Read the full article
Palomar reports strong Q1 as GWP increases by 65%
5th May 2022
Specialty property insurer Palomar Holdings has reported a net income of $14.5 million for Q122, a 12.6% decline when compared to the same period last year which saw the company report a net income of $16.6 million. Adjusted net income also decreased by 8.9%, as the company reported an adjusted net ... Read the full article
Allstate profits dip amid inflation re-alignment
5th May 2022
Allstate has seen a drop in income and a small 0.9% dip in its consolidated revenues for the first quarter of 2022, as the company attempts to meet the challenge of inflation by re-aligning its business practices. Tom Wilson, Chair, President and CEO of The Allstate Corporation, explained that his company ... Read the full article
Hiscox reports ‘strong growth’ in premiums in Q1 2022
5th May 2022
Hiscox is reporting ‘strong growth’ in its group gross written premiums for Q1 2022, saying that they rose by 10.3% to reach $1,386.3m. Citing its latest release, the firm said that it had seen ‘excellent growth’ in its reinsurance and ILS business, with gross premiums written up 45.8% to $421m. However, ... Read the full article
SiriusPoint results down on investments & Russia losses
5th May 2022
Global specialty insurer and reinsurer SiriusPoint has reported a decline in results for the first quarter of 2022, mainly due to a large loss on investments, as well as an underwriting hit due to exposures to the war between Russia and Ukraine. The company reported a net loss of $217.0 million ... Read the full article
Swiss Re falls to net loss in Q1 as high COVID and nat cat claims continue
5th May 2022
Reinsurance giant Swiss Re has reported a net loss of $248 million for the first-quarter of 2022, as losses related to the pandemic continued, as well as impacts from the war in Ukraine and natural catastrophes. The net loss compares with net income of $333 million in Q1 2021, as the ... Read the full article
Revenue increases of 6.8% in Q1 2022 for Verisk
4th May 2022
Verisk is reporting an increase in revenues of 6.8% in Q1 2022, according to its latest results. According to the firm, net income attributable was $505.7m, up 199.9% for the first quarter of 2022. The increase was primarily related to $450.8m gain from the sale of its environmental health and safety ... Read the full article
Greenlight Re takes Q1 loss on Russia exposures
4th May 2022
Hedge fund-backed reinsurer Greenlight Re has reported a net loss for the first quarter of 2022, as its investment income was offset by an underwriting loss driven by exposure to the conflict between Russia and Ukraine. The company booked a net loss of $5.7 million last quarter, compared to net income ... Read the full article
The Hanover grows in Q1 as combined ratio improves to 93.4%
4th May 2022
The Hanover Insurance Group, Inc. recently announced a rise in net income to $104.8 million in the first-quarter of 2022, as a lesser impact from catastrophe events in the period helped strengthen its combined ratio to 93.4%. Group-wide, operating income also increased from $61.4 million in Q1 2021 to $117.7 million ... Read the full article
RenRe loss worsens on investments, but underwriting rebounds
4th May 2022
Bermuda headquartered reinsurance specialist RenaissanceRe has reported an overall deterioration in its net loss for the first quarter of 2022, compared with the same period last year, despite seeing a return to positive underwriting results. RenRe’s net loss fell further from $290.9 million in Q1 of last year to a loss ... Read the full article
AIG sees improvement in GI underwriting results as combined ratio strengthens
4th May 2022
American International Group, Inc. (AIG) has reported pre-tax income of $1.2 billion within its General Insurance (GI) business for the first-quarter of 2022, which reflects a $373 million improvement in underwriting income on the back of a stronger combined ratio. AIG's GI segment has recorded an underwriting gain of $446 million ... Read the full article