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.
Tiptree’s Fortegra posts 37.5% rise in GWP in Q4’23
29th February 2024
Holding company Tiptree has reported a 37.5% increase in gross written premiums and premium equivalents for its specialty insurance subsidiary, Fortegra, in the fourth quarter of 2023. The gross written premiums and premium equivalents grew in Q4'23 and 21.4% for the year, driven by growth in specialty E&S and admitted insurance ... Read the full article
James River sees $152.7mn net loss in Q4 2023
29th February 2024
James River Group Holdings Ltd. has released its financial results for the fourth quarter of 2023 reporting a net loss of $152.7mn, marked by a net loss stemming from the reclassification of its Casualty Reinsurance segment's results to discontinued operations. The Bermuda domiciled insurance holding company, highlighted that due to the ... Read the full article
BRP Group’s total revenues climb 16% in Q4 to reach $284m
29th February 2024
BRP Group, the independent insurance distribution firm, has announced that total revenues increased 16% year-over-year to reach $284.6 million in their results for the fourth quarter of 2023. At the same time, the company reported organic growth of 15%, as well as a fourth quarter loss of $62.5 million, compared with a ... Read the full article
Assured Guaranty sees net income increase in Q4 2023
28th February 2024
Assured Guaranty, a financial guaranty insurer, has announced its financial results for the fourth quarter of 2023 reporting an increased net income of $376 million compared to the $94 million reported in the same period the year prior. According to the firm, this increase was primarily due to a $189 million ... Read the full article
Ambac’s Everspan produces second consecutive quarterly pre-tax profit
28th February 2024
Financial services holding company Ambac has posted a net loss of $16 million and an adjusted net income of $10 million for the fourth quarter of 2023. Included in the company's Q423 results is Everspan, the organisation's specialty program insurer, which produced its second consecutive quarterly pre-tax profit and wrote gross ... Read the full article
Lemonade reports top line growth as net loss narrows in Q4’23
28th February 2024
Lemonade, a digital insurance firm powered by AI, has reported a 20% year-on-year rise in in-force premium to $747 million for the fourth quarter of 2023, while its gross loss ratio fell 12% to 77% in the quarter. Lemonade’s customer count increased 12% to over 2 million in Q4'23, and premium ... Read the full article
Ageas Re posts improved 84.1% CoR for FY23 on lower claims
28th February 2024
International insurance group Ageas has reported an improved reinsurance segment combined ratio of 84.1% for 2023, which is considerably stronger than the 103.3% seen in 2022, attributed to significantly lower claims. Year-on-year, Ageas Re's protection inflows increased due to new non-proportional external premiums related to the third-party reinsurance business via the ... Read the full article
Coface reports flat net income, higher insurance revenue in FY23 results
28th February 2024
Credit insurer Coface has reported its full-year 2023 results, with flat net income at €240.5 million and underwriting income growth of more than 13% to €395.4 million and a combined ratio, net of reinsurance, of 64.3%. Alongside flat net income, insurance revenue increased 2.9% year-on-year to €1.6 billion, as services revenue ... Read the full article
Ryan Specialty FY 2023 revenue climbs 20.4% to $2.08bn
28th February 2024
Ryan Specialty has reported full year 2023 revenue of around $2.08 billion, up 20.4%, compared to the $1.73 billion reported in 2022. The firm's adjusted net income also increased in 2023, growing 20.4% to $375.6 million, compared to $312 million in the prior year. Meanwhile, Ryan Specialty's adjusted EBITDAC climbed 20.7% to ... Read the full article
Steadfast posts 21.4% surge in 1H24 EBITA year-on-year
27th February 2024
Steadfast Group, a leading Australian insurance brokerage network, announced a 21.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for 1H24 compared to the same period last year. The underlying EBITA was $229 million in 1H24, driven by organic growth of 13.4% from the continued uplift in premiums ... Read the full article
Munich Re posts 2023 profit of €4.6bn, P&C CoR of 85.2%
27th February 2024
Munich Re, one of Europe's largest reinsurers, has reported a net result of €4.6 billion for the 2023 financial year, which is above its revised €4.5 billion profit target announced in October, supported by a reinsurance result of €3.9 billion and an improved performance at ERGO. Despite beating the revised profit ... Read the full article
Qatar General Insurance and Reinsurance sees net loss in 2023
26th February 2024
Qatar General Insurance and Reinsurance has announced its 2023 financial results reporting a net loss of nearly QR 1.465bn, compared to a loss of QR 532.113mn in 2022. The Qatar-based company also reported unrealized losses of QR 1.6bn, compared to QR 527.260mn in the same period last year. The loss per share ... Read the full article
Suncorp reports increase in GPW of 16.3% for H1’24
26th February 2024
Australian primary insurer Suncorp Group Limited has reported a rise in group net profit after tax (NPAT) of 5.4% to $582 million, as General Insurance gross written premium (GWP) rose 16.3% to $6.9 billion on the back of customer growth, targeted pricing response to inflation, and increased natural hazard and ... Read the full article
Berkshire Hathaway’s re/insurance businesses generate $5.4bn underwriting gain in 2023
25th February 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023 compared with a loss a year earlier. The positive return of $5.4 billion compares with a loss of $30 million in 2022 and a gain ... Read the full article
Zurich APAC reports 11% GWP growth in 2023 results
23rd February 2024
Zurich Asia Pacific (APAC), part of the global insurance group, has recently announced its results for the full year of 2023. The report highlights significant growth in its Property & Casualty (P&C) sector. Throughout 2023, the P&C business experienced robust growth, reaching gross written premiums (GWP) of $3.6 billion. This marks ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
