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.

Hannover Re’s net income rises to €1.23bn despite heavy cat & COVID load

10th March 2022

Global reinsurer Hannover Re has today reported a 39% rise in net income to €1.23 billion for 2021, despite major losses in its property and casualty (P&C) arm coming in above expectations, and a sizeable COVID-19 impact in its life and health (L&H) reinsurance business. Across the Group, net income increased ... Read the full article

L&G reports “strong year” for pension deals

9th March 2022

Life insurer Legal & General Group (L&G) has reported its results for 2021, with subsidiaries Legal & General Retirement Institutional (LGRI) and Legal & General Retirement America (LGRA) experiencing a “strong year,” the company says. L&G continued to maintain its position in the global pension risk transfer (PRT) market, securing a ... Read the full article

HCI’s 2021 income drops despite premium growth

9th March 2022

Florida-based insurtech HCI Group has reported a decrease in net income from $27.6 million to $7.2 million over 2021, despite growing its gross written premiums by roughly a third. The company attributed the decrease in income to a one-time gain of $37.0 million on an involuntary sale of real estate included ... Read the full article

Greenlight Re improves income, sees better investing conditions

9th March 2022

Hedge fund-backed reinsurer Greenlight Re has reported improved income over 2021, despite incurring a dip in the fourth quarter of the year, and is now seeing investment conditions better aligned with its strategy, the company says. Greenlight Re recorded net income of $24.3 million and $17.6 million for the Q4 and ... Read the full article

Heritage takes $49m Q4 loss, but CR improves to 93.2%

8th March 2022

Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, Inc., has reported a net loss of $49.2 million for the fourth quarter of 2021, and a loss of $74.7 million for the full year. This compares with positive income of $2.8 million for the fourth quarter of the previous year, ... Read the full article

VIG outperforms 2021 targets, but Ukraine means future uncertain

8th March 2022

Vienna Insurance Group (VIG) says it has outperformed all of its key figures for 2021, after reporting profit of €511.3 million, which increased 47.8% over the previous year to exceed its upper target range of €500 million. However, CEO Elisabeth Stadler warned that it remains “difficult to estimate” the company’s business ... Read the full article

FedNat loss grows, reinsurance costs blamed

4th March 2022

Florida based primary insurer FedNat has reported a net loss of $103.1 million for 2021, compared with a loss of $78.2 million in the previous year. The company says the larger loss in 2021 was primarily the result of higher reinsurance costs and the lack of any income tax benefits in ... Read the full article

IGI results strong overall, but reinsurance flounders

4th March 2022

International General Insurance Holdings Ltd. (IGI) has reported largely positive results for both the fourth quarter and full-year periods in 2021, with Chairman and CEO Wasef Jabsheh describing it as "another excellent year" for the company. But despite the strong performance, IGI's reinsurance segment faced difficulties due to high claims, including ... Read the full article

PartnerRe reports non-life underwriting profit of $507mn for 2021

3rd March 2022

Bermuda domiciled reinsurer PartnerRe reported a non-life underwriting profit of $507 million for 2021, which was reflected in its improved combined ratio of 90.5% compared to a combined ratio of 106.0% for the fourth quarter and full year of 2020. Large catastrophic losses totalled $66 million for the fourth quarter of ... Read the full article

BRP reports $58m loss despite revenue doubling

3rd March 2022

Independent insurance distribution firm, BRP Group, Inc., has reported a net loss of $58.1 million for 2021 despite increasing its revenue by 135% over the year. The result follows a loss of $29.9 million in 2020, and is mainly attributable to the company’s Q4 performance, which resulted in a $44.4 million ... Read the full article

Hiscox returns to profit in 2021, produces strongest underwriting result in five years

2nd March 2022

Insurer and reinsurer Hiscox has reported profit of $190.8 million for 2021 against a loss of $268.5 million in the prior year, as the company produced its strongest underwriting result in five years. Despite elevated catastrophe activity, Hiscox has reported an underwriting gain of $215.6 million for 2021, compared with a ... Read the full article

James River reports $173m loss for 2021

1st March 2022

Bermuda domiciled insurance holding company, James River Group Holdings, Ltd., has reported a total loss of $173 million for 2021, after taking a $66 million loss in the fourther quarter of the year. The fourth quarter result included $115.0 million of adverse reserve development in the company's Casualty Reinsurance segment, primarily ... Read the full article

SiriusPoint backed Arcadian Risk sees GWP hit $225m in first year of operations

1st March 2022

Class of 2020, Bermuda-based Managing General Agent (MGA), Arcadian Risk Capital Ltd, has reported gross written premium (GWP) of more than $225 million in its first full year of operations. The start-up, which is led by industry veteran John Boylan, launched in 2020 with Third Point Re (now SiriusPoint) as ... Read the full article

Berkshire Hathaway P&C reinsurance returns to profit in 2021

26th February 2022

The property and casualty reinsurance business of Warren Buffett-run holding company Berkshire Hathaway returned to profit in 2021, delivering positive income on the back of a 95.1% combined ratio, despite the impacts of $2.1 billion of major catastrophe losses. A year ago, Berkshire Hathaway's P&C reinsurance division, which includes Gen Re, ... Read the full article

Universal improves full-year income despite heavy Q4 loss

25th February 2022

Florida headquartered and expansive primary insurance company, Universal Insurance Holdings, has reported a 17.3% increase in net income for 2021, despite suffering a heavy loss in the fourth quarter. Income for the full year was $28.4 million, compared with $24.2 million in the previous year, while the Q4 loss amounted to ... Read the full article