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.
Hamilton’s Q1 CoR increases to 91.5% as Baltimore bridge losses hit $37.9m
9th May 2024
Hamilton's Q1 2024 combined ratio has increased by 3.6 points year over year to 91.5%, primarily driven by losses of $37.9 million arising from the Francis Scott Key Baltimore Bridge collapse. The attritional loss ratio in Q1 of 2024, net of reinsurance, was 57.2%, an increase of 8.1 points compared to ... Read the full article
Greenlight Re reports stronger Q1’24 CoR as underwriting income rises
9th May 2024
Greenlight Capital Re, Ltd. has reported a 98% combined ratio for Q1 2024 compared to 99.8% in Q1 2023, as the firm's underwriting income increased to $3.4 million from $0.4 million. The current-year catastrophe losses, including the Baltimore bridge incident, added 7.7% to the firm's combined ratio during the first quarter ... Read the full article
Assurant’s net income increases 108% in Q1’24
8th May 2024
US specialty insurance group Assurant has reported a GAAP net income of $236.4 million for the first quarter of 2024, representing a 108% increase compared to the $113.6 million reported in the same period last year. According to the company, this increase was mainly due to higher segment earnings and lower ... Read the full article
Global Indemnity sees solid rise in net income in Q1’24
8th May 2024
Global Indemnity Group, LLC has posted a net income available to shareholders of $11.3 million for the first quarter of 2024, compared to $2.4 million for the same period in 2023. According to the firm, the increase in net income was essentially driven by strong underwriting results in the Penn-America excess ... Read the full article
The Baldwin Group posts 15% total revenue growth in Q1’24
8th May 2024
The Baldwin Group, formerly known as BRP Group, Inc., has posted their results for the first quarter of 2024, which includes total revenues increasing 15% year over year to $380.4 million, compared to $330.4 million from the prior year quarter. At the same time, the firm posted GAAP net income ... Read the full article
IGI reports Q1’24 CoR of 74.1% with 31% rise in underwriting income
8th May 2024
Re/insurer International General Insurance Holdings Ltd. (IGI) has reported a Q1 2024 combined ratio of 74.1%, an improvement of 4.3 points compared to 78.4% in Q1 2023. The re/insurer’s net income for this quarter increased 11.8% to $37.9 million from $33.9 million in Q1 2023, primarily driven by an increase of ... Read the full article
Munich Re’s insurance revenue rises to €15.1bn in Q1’24
8th May 2024
Global reinsurer Munich Re has today announced a rise in insurance revenue from contracts issued to €15.1 billion for the first quarter of 2024, driven by organic growth in its reinsurance business and also at ERGO International. Last month, Munich Re pre-announced a net profit of €2.1 billion for Q1 ... Read the full article
PIC completes £1.5bn of new business transactions in strong Q1
8th May 2024
Pension Insurance Corporation (PIC), the specialist insurer of UK defined benefit pension schemes, has completed transactions with total premiums of £1.5 billion, marking a “strong” start to the year, in the firm's first quarter of 2024 results. A recent trading update that was published on the London Stock Exchange, shows that ... Read the full article
Coface reports €68.4m net income in Q1 2024
8th May 2024
Credit insurer Coface has reported its first quarter of 2024 results with an improved combined ratio of reinsurance and a net income of €68.4m, up 11.9% compared to the same period the year prior. For this year’s Q1, the insurer also recorded a consolidated turnover of €464m, down -1.6% at constant ... Read the full article
Everspan produces first quarterly underwriting profit with CR of 98.4%
7th May 2024
Ambac’s Everspan has reportedly produced a 98.4% combined ratio in Q1 of 2024, much improved compared to the 121.9% disclosed in the opening quarter of 2023. At the same time, Everspan's gross premium written (GPW) and net premium written (NPW) grew substantially in Q1 of 2024 as it continued to add ... Read the full article
RGA reports increase in net premiums to $5.4bn for Q1’24
7th May 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported a consolidated net premium increase of 58.8% to $5.4 billion for Q1 2024. This included a $1.9 billion contribution from a single premium pension risk transfer transaction in the U.S. Financial Solutions business. The reinsurer has reported Q1 2024 ... Read the full article
The Hanover Insurance reports spike in net income for Q1’24 to $115.5m
7th May 2024
The Hanover Insurance Group, Inc. has reported net income of $115.5 million for Q1 2024, compared to a net loss of $12 million in the prior-year quarter. The firm’s operating income was $111.9 million for the quarter, compared with $4.6 million in the prior-year period. The insurer has reported a combined ... Read the full article
CNA Financial posts $338m net income in Q1, P&C CR hits 94.6%
7th May 2024
In their results for the first quarter of 2024, CNA Financial Corporation has reported a net income of $338 million, compared to a net income of $297 million in the prior year quarter. The firm's property & casualty (P&C) segments produced core income of $372 million for Q124, representing an increase ... Read the full article
Markel reports growth in income and operating revenue for Q1’24
7th May 2024
Global re/insurer Markel Group Inc. has reported growth of 23% in operating revenue to $4.47 billion and operating income growth of 77% to $1.33 billion, primarily driven by its investment engine, for the first quarter of 2024. The company has reported a higher combined ratio of 95.2% in Q1 2024 compared ... Read the full article
Canadian Personal Auto & Personal Property lines increase in Q1’24: Applied Systems
7th May 2024
Applied Systems has released first quarter 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate change increased for Personal Auto and increased for Personal Property compared to Q4 ... Read the full article
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