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.
Coface reports flat net income, higher insurance revenue in FY23 results
28th February 2024
Credit insurer Coface has reported its full-year 2023 results, with flat net income at €240.5 million and underwriting income growth of more than 13% to €395.4 million and a combined ratio, net of reinsurance, of 64.3%. Alongside flat net income, insurance revenue increased 2.9% year-on-year to €1.6 billion, as services revenue ... Read the full article
Ryan Specialty FY 2023 revenue climbs 20.4% to $2.08bn
28th February 2024
Ryan Specialty has reported full year 2023 revenue of around $2.08 billion, up 20.4%, compared to the $1.73 billion reported in 2022. The firm's adjusted net income also increased in 2023, growing 20.4% to $375.6 million, compared to $312 million in the prior year. Meanwhile, Ryan Specialty's adjusted EBITDAC climbed 20.7% to ... Read the full article
Steadfast posts 21.4% surge in 1H24 EBITA year-on-year
27th February 2024
Steadfast Group, a leading Australian insurance brokerage network, announced a 21.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for 1H24 compared to the same period last year. The underlying EBITA was $229 million in 1H24, driven by organic growth of 13.4% from the continued uplift in premiums ... Read the full article
Munich Re posts 2023 profit of €4.6bn, P&C CoR of 85.2%
27th February 2024
Munich Re, one of Europe's largest reinsurers, has reported a net result of €4.6 billion for the 2023 financial year, which is above its revised €4.5 billion profit target announced in October, supported by a reinsurance result of €3.9 billion and an improved performance at ERGO. Despite beating the revised profit ... Read the full article
Qatar General Insurance and Reinsurance sees net loss in 2023
26th February 2024
Qatar General Insurance and Reinsurance has announced its 2023 financial results reporting a net loss of nearly QR 1.465bn, compared to a loss of QR 532.113mn in 2022. The Qatar-based company also reported unrealized losses of QR 1.6bn, compared to QR 527.260mn in the same period last year. The loss per share ... Read the full article
Suncorp reports increase in GPW of 16.3% for H1’24
26th February 2024
Australian primary insurer Suncorp Group Limited has reported a rise in group net profit after tax (NPAT) of 5.4% to $582 million, as General Insurance gross written premium (GWP) rose 16.3% to $6.9 billion on the back of customer growth, targeted pricing response to inflation, and increased natural hazard and ... Read the full article
Berkshire Hathaway’s re/insurance businesses generate $5.4bn underwriting gain in 2023
25th February 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023 compared with a loss a year earlier. The positive return of $5.4 billion compares with a loss of $30 million in 2022 and a gain ... Read the full article
Zurich APAC reports 11% GWP growth in 2023 results
23rd February 2024
Zurich Asia Pacific (APAC), part of the global insurance group, has recently announced its results for the full year of 2023. The report highlights significant growth in its Property & Casualty (P&C) sector. Throughout 2023, the P&C business experienced robust growth, reaching gross written premiums (GWP) of $3.6 billion. This marks ... Read the full article
Allianz reports record operating profit of €14.7bn for FY23
23rd February 2024
Insurance giant Allianz has reported a record operating profit of €14.7 billion for the full year 2023, an increase of 6.7% from €13.8 billion in the previous year, driven primarily by the Life/Health (L&H) business segment. Group-wide, total business volume grew 5.5% to €161.7 billion in 2023, which Allianz attributes to ... Read the full article
Universal Insurance reports Q4’23 CoR of 103.7% and net income of $20m
23rd February 2024
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a Q4 2023 combined ratio of 103.7%, an increase of 2.3 points from the comparative quarter, reflecting a higher net loss ratio as the net expense ratio came down. The insurer’s loss ratio increased by 5.6 points in Q4 2023 ... Read the full article
Goosehead sees net income improvement with 10% revenue growth in Q4
23rd February 2024
Independent personal lines insurance agency Goosehead has reported a net income of $5.4m for the fourth quarter of 2023, mainly due to revenue growth, a significant improvement compared to the $2.6m reported the prior year quarter. According to Goosehead, its revenues saw a 10% increase in Q4 2023, to $63.0m, compared ... Read the full article
Donegal Group sees $2m net loss and increased combined ratio in Q4 2023
23rd February 2024
US primary holding company Donegal Group has announced its financial results for the fourth quarter of 2023, reporting a net loss of $2.0 million, compared to net income of $3.5 million a year earlier. Donegal Group’s combined ratio for Q4 2023 was 106.8%, compared to 102.8% reported in the prior year ... Read the full article
Verisk reports revenue increase in Q4’23 due to growth in underwriting
22nd February 2024
Verisk, a global data analytics and technology provider, has reported an increase in its consolidated and organic constant currency (OCC) revenues in Q4'23, primarily due to solid growth in underwriting and more moderate growth in claims. Consolidated revenues were $677.2 million, up 7.4% and up 6.0% on an OCC basis for ... Read the full article
Zurich posts record business operating profit of $7.4bn for 2023
22nd February 2024
Global insurer Zurich has reported strong growth across all businesses in the first year of its 2023-2025 financial cycle, with the highest-ever Group business operating profit (BOP) up 21% to $7.4 billion, along with reporting its highest-ever return on equity at 23.1%. The insurer stated that this result was “strongly supported ... Read the full article
Beazley lays out additional shareholder capital return for 2023 of $300m
22nd February 2024
Following a solid year, specialist insurer Beazley has revealed that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, anticipated to be around $300m. The firm has also provided an update to guidance on its undiscounted combined ratio, which has reportedly improved from ... Read the full article
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