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.
AIG reports stronger general insurance combined ratio as premiums rise in Q4’23
14th February 2024
Global insurer American International Group, Inc. (AIG) has reported slight growth in underwriting income of $7 million for Q4 2023 to $642 million, which included $122 million of total catastrophe-related charges, representing 2.1 loss ratio points, of which $54 million was in North America and $68 million in International. Within the ... Read the full article
Renewal rates for nearly all commercial lines up year over year: Ivans
12th February 2024
In the January 2024 results for the Ivans Index - the insurance industry’s premium renewal rate index - year over year, all major commercial lines experienced an increase in average premium renewal rates. Ivans explained that month over month, Workers’ Compensation experienced an increase in premium renewal rate change, while Commercial ... Read the full article
Trisura sees substantial improvement in net income in Q4 results
9th February 2024
Specialty insurance provider, Trisura Group, has posted $25.9 million operating net income in the fourth quarter of 2023, which the company said was achieved through measured growth, profitable underwriting and enhanced investment income – supporting annual operating net income of over $110 million. At the same time, the company reported $11.3 ... Read the full article
Brookfield Reinsurance sees $453 million net income in Q4’23
8th February 2024
Brookfield Reinsurance reported a net income of $453 million in the fourth quarter of 2023, compared to a net income of $181 million for the prior year quarter. For the full-year 2023, Brookfield posted net income of $797 million, compared to $501 million in 2022. The firm also posted $745 million of ... Read the full article
Allstate Q4 net income hits $1.5bn on “improved auto profitability and mild weather”
8th February 2024
US primary insurer Allstate has reported net income applicable to common shareholders in Q4 2023 of $1.5 billion, up massively compared to a loss of $303 million in the same quarter of 2022. Tom Wilson, Chair, President and CEO of Allstate, explained that this positive turnaround was driven by "improved auto ... Read the full article
Everest highlights robust pricing momentum as growth continues in 2023
8th February 2024
Bermuda-based insurer and reinsurer Everest Group has reported 2023 combined ratios of 90.9% for the Group, 86.4% for reinsurance and 103% for insurance, as catastrophe losses fell to $451 million, and net investment income rose more than $600 million. For the year 2023, cat losses came down from the $945 million ... Read the full article
Talanx expecting record net income of €1.58bn for “extremely successful” 2023
8th February 2024
Based on its consolidated unaudited figures, Talanx Group, the parent company of Hannover Re, is expecting a group net income of €1.58 billion for the 2023 financial year. Talanx noted that this "clearly" surpasses its original annual target of approximately €1.4 billion. The firm said that the positive trend in net income ... Read the full article
Prudential Financial returns to profit in Q4 2023
7th February 2024
US insurance and investment firm, Prudential Financial, Inc., has reported fourth-quarter 2023 net income of $1.317 billion compared to a net loss of $52 million in the prior year's quarter. The insurer’s after-tax adjusted operating income was $943 million in Q4 2023, compared year over year to $932 million. The net income ... Read the full article
White Mountains reports GWP rise to $232 million for Ark in Q4’23
7th February 2024
White Mountains has released its fourth-quarter results for 2023, reporting that its Ark partner firm produced strong underwriting results in both the quarter and the full year, while growing full-year gross written premiums 31%, according to CEO Manning Rountree. Ark saw gross written premiums (GWP) rise to $232 million in Q4 ... Read the full article
Pro Global reports 12% revenue growth in FY23
7th February 2024
Pro Global has recorded 12% revenue growth for the full year 2023, marking the third consecutive year of double-digit revenue progression for the company. The year also saw the company acquire a specialist Robotic Process Automation (RPA) business (Propel Automation). According to Pro Global, the acquisition is set to further enable its ... Read the full article
Cincinnati Financial posts net income of $1.84 billion in full-year results
7th February 2024
Insurer Cincinnati Financial Corporation has reported a full-year 2023 net income of $1.84 billion, compared with a net loss of $487 million in 2022. For Q4 alone, the firm posted a net income of $1.18 billion, compared with a net income of $1.01 billion for the same quarter of 2022. This came ... Read the full article
Hannover Re: 2023 operating result hit by “significantly higher” Q4 reserving
6th February 2024
Global reinsurance firm Hannover Re has warned that when it reports its full-year 2023 results, its operating result for the year will be impacted by a resiliency reserve that has been set "significantly higher" than forecast in the fourth-quarter. Hannover Re sets a property and casualty reinsurance resiliency reserve to balance ... Read the full article
WTW reports organic revenue growth of 6% for Q4’23
6th February 2024
Global brokerage firm WTW has reported 6% organic revenue growth for the fourth quarter of 2023 to $2.91 billion, while net income for the period rose by 5%, year-on-year, to $623 million. For the full year 2023, WTW achieved 8% organic revenue growth to $9.48 billion, while net income for the ... Read the full article
Howden sees organic growth of 13% as FY23 revenue hits £2.4bn
6th February 2024
Global re/insurance broker, Howden Group Holdings, has announced organic growth of 13%, and a 33% rise in revenue to £2.44 billion for the year ended September 30, 2023. Organic growth of 13% is lower than the previous year of 19%, while revenue increased from the £1.84 billion reported for 2022, as ... Read the full article
Hanoi Re posts 12% increase in revenue in FY23 results
6th February 2024
Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) has posted a 12% increase in revenue to VND2,990 billion (US$122.8 million) for the full-year 2023, representing a 3% increase from 2022, and a 35% increase in pre-tax profit to VND256 billion. At the same time, Hanoi Re’s total revenue for 2023 is estimated ... Read the full article
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