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.
CNA sees net income increase to $367m in Q4 2023
5th February 2024
Chicago-based insurer CNA Financial Corporation has published its financial results for the fourth quarter of 2023 reporting a net income of $367 million, a 54% increase compared to the $239 million in the prior year quarter. Net investment gains for the quarter were $5 million compared to net investment losses of ... Read the full article
Kemper posts net income of $51.4m in Q4’23 vs year-ago loss
2nd February 2024
Kemper Corporation has reported a net income of $51.4 million for the fourth quarter of 2023, compared to a net loss of $53.3 million for the fourth quarter of 2022. Total revenues for Q4'23 decreased $187.4 million, or 13.6 percent, to $1,187.2 million, compared to the fourth quarter of 2022, mostly ... Read the full article
Aon’s Reinsurance Solutions posts 14% organic revenue growth in Q4’23
2nd February 2024
Aon's Reinsurance Solutions arm delivered organic revenue growth of 14% in the fourth quarter of 2023 to $332 million, as total revenue across the insurance and reinsurance broking group rose $245 million to $3.4 billion. The broker attributes the growth in its reinsurance segment to strong growth in treaty as a ... Read the full article
The Hartford posts $766m net income in Q4, P&C written premiums rise 10%
2nd February 2024
The Hartford has posted a net income of $766 million for the fourth quarter of 2023, a substantial rise from $587 million in the fourth quarter of 2022. The company noted that this was primarily driven from a higher property & casualty (P&C) underwriting gain, including strong premium growth in Commercial ... Read the full article
RGA reports Q4’23 premium growth of 19.2%
2nd February 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported fourth-quarter 2023 premium growth of 19.2% over the prior-year quarter as consolidated net premiums hit $4.1 billion. Net premiums for the quarter include a $500 million contribution from a single premium pension risk transfer transaction in the U.S. ... Read the full article
RenRe grew substantially into still highly favourable market at 1.1 renewal: CEO O’Donnell
1st February 2024
Bermuda-based RenaissanceRe’s President and Chief Executive Officer (CEO), Kevin O'Donnell, recently discussed the company's experience at the January 1st, 2024, reinsurance renewals during the firm's Q4 and full year 2023 earnings call. "At the recent January 1 renewal, we improved this already strong underwriting portfolio. Due to our overwhelming success in ... Read the full article
Phoenix Group achieves 2025 growth target two years early with strong 2023 performance
1st February 2024
Phoenix Group Holdings plc has reported robust organic growth in 2023, exceeding expectations and achieving its 2025 growth target two years ahead of schedule. The financial services company announced new business net fund flows of approximately £7 billion, representing an impressive year-on-year increase of around 80%. Key highlights from the 2023 performance ... Read the full article
Selective reports $991.5m in NPW in Q4 results
1st February 2024
Selective Insurance Group has posted $991.5 million in net premiums written (NPW) for the fourth quarter of 2023, representing a 17% or $142 million increase from the prior year period. For Q4, Standard Commercial Lines premiums (representing 77% of total NPW) increased 13% from a year ago. Selective noted that the premium ... Read the full article
The Hanover’s Q4 net income soars to $107m as its combined ratio settles at 94%
1st February 2024
The Hanover has reported net income of $107.9 million for Q4 of 2023, marking a drastic improvement compared to the net loss of $12.1 million recorded in the same quarter of 2022. Operating income in Q4 of 2023 also grew to $113.1 million, up from an operating loss of $37.4 million, ... Read the full article
Markel reports 79% dip in underwriting profit for 2023
1st February 2024
Global re/insurer Markel Group has announced 2023 underwriting profit of $132.7 million compared with $626.6 million in 2022, driven by declines in both its insurance and reinsurance segments on the back of adverse development on prior year loss reserves. For 2023, the Group recorded a 4% increase in the gross premiums ... Read the full article
AXIS reports 124.6% CR on previously announced Q4’23 reserve strengthening
1st February 2024
Bermuda-based AXIS Capital Holdings Limited has reported a net loss of $150 million for the fourth quarter of 2023 on the back of previously announced net adverse prior year reserve development of $425 million, as the firm's combined ratio deteriorated by 30.5 percentage points to 124.6%. The re/insurer announced last ... Read the full article
Chubb CEO Greenberg hails record 2023 performance
31st January 2024
Global insurer Chubb Limited has reported improved year-on-year net premiums written (NPW), a strong underwriting result, and record net income of $3.3 billion for the fourth quarter of 2023. Alongside the 151.7% year-on-year rise in net income, Chubb's core operating income jumped 103.6% to end Q4 2023 at a record $3.41 ... Read the full article
RenRe reports strong underwriting performance in 2023 with CR of 77.9%
31st January 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) has reported a stronger combined ratio of 76% and 77.9% for the fourth quarter and full year 2023, respectively, as the firm's underwriting and investment income improved for both periods. RenRe has recorded a strong set of results for the final quarter of 2023, as gross premiums ... Read the full article
Suncorp reports total nat cat costs in H1’24 of $568m
29th January 2024
Australian primary insurer Suncorp anticipates the total cost of natural hazard events for H1 2024 to be approximately $568 million, which consists of six significant events during the period. Suncorp's natural hazard allowance for FY24 is $1.36 billion, so the insurer has used less than 50% of its budget at the ... Read the full article
Conduit set to surpass income forecasts due to investment portfolio valuation gains
29th January 2024
Conduit Holdings Limited (CHL), the parent company of Conduit Re, anticipates its comprehensive income for the year to be greater than current consensus forecasts, driven by a more positive valuation of investments. According to the firm, in the second half of 2023, the overall reduction in interest rates led to substantial ... 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.
