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.
Arch more than doubles Q1 operating income
28th April 2022
Bermuda-based Arch Capital Group has reported a 146% increase in operating income over the first quarter of 2022, helped by improvements in underwriting income across all three of its main business segments – insurance, reinsurance and mortgage. Operating income amounted to $457.6 million for the quarter, compared to $185.9 million in ... Read the full article
Everest Re reports stronger re/insurance underwriting result as cat load falls
28th April 2022
Bermuda domiciled insurer and reinsurer, Everest Re Group, has reported a strong start to 2022 with net income of $298 million and an improved combined ratio of 91.4%, while premiums across the group spiked by 9%. While positive, net income did fall from the $342 million posted a year earlier, while ... Read the full article
Heritage reporting $45m in cat losses for Q1 2022
28th April 2022
Heritage is expecting to see $45m in catastrophe losses, along with $18.8m of other weather losses in Q1 2022. This is in comparison with to $15.4m and $16.1m, respectively, for the same period in 2021. Total net current accident quarter weather losses were approximately $63.8m in the first quarter of 2022, ... Read the full article
AXIS Capital’s underwriting result improves as catastrophe retreat continues
28th April 2022
Bermuda-based AXIS Capital Holdings Limited has reported an improved combined ratio of 91.4% for the first quarter of 2022, as both its insurance and reinsurance segments recorded a better underwriting result in the period. Across the group, underwriting income spiked from $40.3 million in Q1 2021 to $138.8 million in Q1 ... Read the full article
QIC turns Q1 profit, reports on Ukraine exposure
27th April 2022
Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has recorded a net profit of QR 230 million (USD 63 million) for the first quarter of 2022. The company also reported on its exposure to the ongoing conflict in Ukraine. During Q1, QIC incurred claims of QR 36.4 ... Read the full article
Goosehead loss widens despite revenue growth
27th April 2022
Goosehead Insurance, an independent personal lines insurance agency, has reported a net loss of $5.4 million for the first quarter of 2022, including a loss from operations of $6.1 million. This compares with a net loss of $1.1 million for the same period in the previous year. Despite the larger loss figure, ... Read the full article
Chubb reports huge fall in reported net income
27th April 2022
Chubb has said its reported net income for Q1 2022 was $1.97bn, after falling from $2.3bn in the previous year. Other figures released by the insurer were that P&C combined ratio was 84.3% compared to 91.8% prior year, and the current accident year P&C combined ratio excluding catastrophe losses was 83.5% ... Read the full article
Markel’s CR strengthens in Q1 but investments dent result
27th April 2022
Markel Corporation has reported an improvement in its combined ratio to 89% for the first quarter of 2022, as earned premiums increased to almost $1.8 billion in the period. The re/insurer's combined ratio strengthened by five percentage points from the 94% reported in Q1 2021, driven by a lower current accident ... Read the full article
Brown & Brown reports revenue increases of 11%
26th April 2022
Brown & Brown is reporting revenues of $904.7m in its Q1 2022 financial results. The firm said that this included a $89.4m (11%) increase compared to Q1 2021. Income before income taxes was $265m, increasing 10.8% from the prior year with Income Before Income Taxes Margin remaining consistent with the prior ... Read the full article
W.R. Berkley posts record underwriting income
26th April 2022
Re/insurance holding company W. R. Berkley Corporation has posted record underwriting income of $274.4 million for the first quarter of the year. The company’s net income similarly more than doubled from $229.5 million to $590.6 million, while operating income moved from $201.8 million to $306.9 million. During Q1, net premiums written also ... Read the full article
Guy Carpenter’s revenue jumps 11% in the first-quarter of 2022
21st April 2022
Marsh McLennan's (MMC) reinsurance broking arm, Guy Carpenter, has reported an 11% rise in underlying revenue in the first-quarter of 2022 to $999 million, as its parent reports consolidated revenue of $5.5 billion for the period. Revenue growth at Guy Carpenter supported total Q1 2022 revenue of $3.5 billion within MMC's ... Read the full article
RLI improves underwriting and CR over Q1
21st April 2022
US property and casualty insurer RLI Corp has reported substantial improvements in its underwriting income and combined ratio for the first quarter of 2022, despite falling to a comprehensive loss for the period due to a negative portfolio performance. Underwriting income increased from $29.9 million in Q1 of 2021 to $59.5 ... Read the full article
Travelers reports rise in net income as combined ratio strengthens in Q1
19th April 2022
US primary insurer Travelers has reported an underwriting gain of $659 million for the first-quarter of 2022 and a combined ratio of 91.3%, as losses from catastrophes, net of reinsurance, fell by $675 million from the comparable prior year period. The carrier's underwriting result improved by $442 million, year-on-year, as catastrophe ... Read the full article
VIG reports solvency ratio of 250% in 2021 results
19th April 2022
Vienna Insurance Group (VIG) has reported a solvency ratio of 250% at the end of the 2021 financial year, highlighting the company’s strong capitalisation. As of December 31 2021, VIG had own funds of roughly EUR 10.3 billion, approx. 85% of which was in the highest quality category. VIG also achieved a ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article