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.
Fidelis MGU unveils rebranding amid solid 2023 performance
20th March 2024
Fidelis MGU, which will rebrand to "The Fidelis Partnership" on the 28th of March, has revealed gross written premium (GWP) grew by 19% to $3.6 billion in 2023, including 39% growth in its Specialty portfolio. According to the firm, GWP is comprised of 62% Specialty, 20% Bespoke and 18% Reinsurance. Fidelis also ... Read the full article
VIG Re’s 2023 GWP soar to €900m as CoR improves at 90.8%
20th March 2024
In its preliminary, unaudited results for the full year 2023, VIG Re has reported that gross written premiums grew by 13.7% to €900.7 million, driven by significant growth of the non-life treaty business across all segments. At the same time, VIG Re revealed that insurance service revenue for 2023 was €819.4 ... Read the full article
FWD Group sees operating profit growth in 2023
19th March 2024
FWD Group has announced its 2023 financial results, reporting $372 million in operating profit after tax, a 27% increase from 2022’s $299 million, and a new business value of $991 million, up 22% compared to the prior year. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, ... Read the full article
Hannover Re’s 2023 net income improves as reinsurance revenue climbs to €24.5bn
18th March 2024
Hannover Re has disclosed that it generated net income of €1.8 billion for the 2023 financial year, up from €800 million in 2022 and beating its guidance of at least €1.7 billion. As a result of this, the firm's earnings per share reached €15.13, up from €6.47 in 2022. Hannover Re explained ... Read the full article
Fundamental Global reports spike in reinsurance premiums for 2023
15th March 2024
Fundamental Global Inc., formerly known as FG Financial Group, Inc., has reported Q4 2023 net reinsurance premiums earned of $5.1 million, increasing from $3.2 million in Q4 2022, driven by the successful execution of its strategy to deploy capital in loss-capped reinsurance arrangements. While premiums earned grew year-on-year, the company's net ... Read the full article
Maiden Holdings posts $20.8m net loss in Q4
14th March 2024
Maiden Holdings Ltd., has posted it's results for the fourth quarter of 2023, which includes a net loss of $20.8 million, compared to a net income of $36.2 million from the prior year period. The firm posted lower underwriting loss of $21.1 million in the fourth quarter, compared to an underwriting ... Read the full article
VIG reports double-digit premium growth and strong increase in profit for FY’23
14th March 2024
Vienna Insurance Group, an insurer in the Central and Eastern European region, has reported double-digit premium growth and a solid increase in profit during a particularly successful financial year 2023. Gross written premiums (GPW) hit €13.8 billion, a 10% increase on 2022, with profit before taxes of approximately €773 million, a ... Read the full article
Global Indemnity Group sees big net income improvement in FY23
13th March 2024
Global Indemnity Group, LLC (GBLI) has posted its results for the full-year 2023, which includes a substantial performance in net income, as it reached $25.0 million compared to a net loss of $1.3 million for the corresponding period in 2022. At the same time, adjusted operating income per share was $1.96 ... Read the full article
AEGIS London sees £206mn profit in 2023 with improved combined ratio
13th March 2024
AEGIS London, Lloyd’s Syndicate 1225, a subsidiary of AEGIS, has released its 2023 financial results, reporting an improved combined ratio of 79.4% and a 112% profit increase. For the year ending 31 December 2023, the Syndicate’s combined ratio improved 4.4% on 2022’s ratio of 83.8%. As part of its 2023 full year ... Read the full article
IGI reports improved combined ratio as Q4’23 underwriting income rises to $43.5m
13th March 2024
International General Insurance Holdings Ltd. (IGI) has reported a 10.3 percentage point improvement in its combined ratio for Q4 2023 to 81.8% and growth in underwriting income to $43.5 million, as net income increased to $33 million in the period. For the quarter, gross written premiums (GWP) were $164.9 million, an ... Read the full article
MS Amlin returns to profitability in 2023, reports lowest CoR in a decade
12th March 2024
MS Amlin, the Lloyd's global insurer and reinsurer, achieved its strongest adjusted combined ratio for more than a decade in 2023 with a 9.6 percentage point improvement to 86.6%, with Chief Executive Officer (CEO), Andrew Carrier, describing it as a landmark year for the business. As well as being the firm's ... Read the full article
Antares Syndicate 1274 reports record profits in 2023
12th March 2024
Antares Syndicate 1274, the re/insurance subsidiary in the Lloyd's market of QIC's Antares Global, has seen improved financial results in 2023 with a 8.1% gross written premiums (GWP) growth and an improved combined ratio of 89.2%. This year, the company saw GWP of $600mn, compared to the $555mn reported in 2022, ... Read the full article
Heritage’s Q4 net income hits $30.9m, combined ratio improves to 84.9%
12th March 2024
Heritage Insurance Holdings has reported a net income of $30.9 million for Q4 of 2023, up from $12.5 million in the same quarter of 2022, primarily driven by an increase in net premiums earned, higher net investment income, and lower net losses incurred. Heritage also revealed that gross premiums written were ... Read the full article
Generali reports record operating result of €6.9bn as P&C combined ratio strengthens
12th March 2024
Italian insurer Generali generated a record operating performance of €6.9 billion in its full year 2023 results, an increase of 7.9% as a result of a positive contribution from all segments, led by Property & Casualty (P&C). Group-wide, the insurer has reported an "excellent" new business margin of 5.78%, and a ... Read the full article
Canopius reports strongest underwriting result in history for 2023
12th March 2024
Global specialty and P&C (re)insurer Canopius Group has revealed its profit after tax for 2023 reached $363 million, up from $129 million in 2022, with a combined ratio for the year of 88.7%. Canopius' insurance contract written premium also increased in 2023 to $2.8 billion, marking a rise of 22% from ... Read the full article
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