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.
Munich Re’s insurance revenue rises to €15.1bn in Q1’24
8th May 2024
Global reinsurer Munich Re has today announced a rise in insurance revenue from contracts issued to €15.1 billion for the first quarter of 2024, driven by organic growth in its reinsurance business and also at ERGO International. Last month, Munich Re pre-announced a net profit of €2.1 billion for Q1 ... Read the full article
PIC completes £1.5bn of new business transactions in strong Q1
8th May 2024
Pension Insurance Corporation (PIC), the specialist insurer of UK defined benefit pension schemes, has completed transactions with total premiums of £1.5 billion, marking a “strong” start to the year, in the firm's first quarter of 2024 results. A recent trading update that was published on the London Stock Exchange, shows that ... Read the full article
Coface reports €68.4m net income in Q1 2024
8th May 2024
Credit insurer Coface has reported its first quarter of 2024 results with an improved combined ratio of reinsurance and a net income of €68.4m, up 11.9% compared to the same period the year prior. For this year’s Q1, the insurer also recorded a consolidated turnover of €464m, down -1.6% at constant ... Read the full article
Everspan produces first quarterly underwriting profit with CR of 98.4%
7th May 2024
Ambac’s Everspan has reportedly produced a 98.4% combined ratio in Q1 of 2024, much improved compared to the 121.9% disclosed in the opening quarter of 2023. At the same time, Everspan's gross premium written (GPW) and net premium written (NPW) grew substantially in Q1 of 2024 as it continued to add ... Read the full article
RGA reports increase in net premiums to $5.4bn for Q1’24
7th May 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported a consolidated net premium increase of 58.8% to $5.4 billion for Q1 2024. This included a $1.9 billion contribution from a single premium pension risk transfer transaction in the U.S. Financial Solutions business. The reinsurer has reported Q1 2024 ... Read the full article
The Hanover Insurance reports spike in net income for Q1’24 to $115.5m
7th May 2024
The Hanover Insurance Group, Inc. has reported net income of $115.5 million for Q1 2024, compared to a net loss of $12 million in the prior-year quarter. The firm’s operating income was $111.9 million for the quarter, compared with $4.6 million in the prior-year period. The insurer has reported a combined ... Read the full article
CNA Financial posts $338m net income in Q1, P&C CR hits 94.6%
7th May 2024
In their results for the first quarter of 2024, CNA Financial Corporation has reported a net income of $338 million, compared to a net income of $297 million in the prior year quarter. The firm's property & casualty (P&C) segments produced core income of $372 million for Q124, representing an increase ... Read the full article
Markel reports growth in income and operating revenue for Q1’24
7th May 2024
Global re/insurer Markel Group Inc. has reported growth of 23% in operating revenue to $4.47 billion and operating income growth of 77% to $1.33 billion, primarily driven by its investment engine, for the first quarter of 2024. The company has reported a higher combined ratio of 95.2% in Q1 2024 compared ... Read the full article
Canadian Personal Auto & Personal Property lines increase in Q1’24: Applied Systems
7th May 2024
Applied Systems has released first quarter 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate change increased for Personal Auto and increased for Personal Property compared to Q4 ... Read the full article
Berkshire Hathaway P&C reinsurance underwriting profit surpasses $1bn in Q1 2024
4th May 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has surpassed $1 billion in underwriting earnings in its property and casualty (P&C) reinsurance operations during the first-quarter of 2024, up almost 160% year-on-year. With P&C reinsurance premiums written rising by nearly 3%, to $6.455 billion for the three month period, driven ... Read the full article
Corebridge Financial sees net income increase to $878m in Q1 2024
3rd May 2024
American multinational financial services company, Corebridge Financial has announced its first quarter of 2024 financial results, reporting a net income of $878 million compared to a net loss of $459 million in the prior year quarter. According to the announcement, the change was mainly driven by realised losses in the first ... Read the full article
Enstar posts $119m net income in Q1, ROE sits at 2.4%
3rd May 2024
Enstar Group has posted net earnings of $119 million in the first quarter of 2024, compared to net earnings of $424 million in Q1 2023. Return on equity (ROE) was 2.4% for the quarter, compared to 9.5% from the previous year, while adjusted ROE was 2.6% for the quarter compared to ... Read the full article
Ryan Specialty sees $552m revenue growth in Q1 2024
3rd May 2024
International specialty insurance firm, Ryan Specialty Holdings, Inc., has reported Q1 2024 revenue growth of 20.6% year-over-year as well as an increase in net income of 11.6% year-over-year when compared to the same period last year. The firm’s revenue went to $552.0 million in the first quarter of 2024, from the ... Read the full article
Fairfax Financial’s Q1 net earnings hit $776.5m driven by strong P&C operations
3rd May 2024
Fairfax Financial Holdings has revealed that its property and casualty insurance and reinsurance operations produced an adjusted operating income of $977.1 million in Q1 of 2024, up from $843 million in the opening quarter of 2023. As per Fairfax, this operating income increase largely contributed to its Q1 2024 net earnings ... Read the full article
Tiptree posts $9.1m net income in Q1’24, Fortegra’s CR sits at 90.3%
3rd May 2024
Tiptree has posted a net income of $9.1 million for the first quarter of 2024, compared to a net loss of $1.1 million in the first quarter of 2023. The company attributed this increase towards growth seen within their insurance business, improved mortgage operations and investments gains. Tiptree also posted $498.2 million ... Read the full article
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