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.
SiriusPoint returns to core underwriting profitability in 2023 with CoR of 89.1%
21st February 2024
Bermuda-based specialty insurer and reinsurer, SiriusPoint, has reported a core combined ratio of 89.1% in its full year 2023 results, marking a return to core underwriting profit after a combined ratio of 101.6% in 2022. For the year, core underwriting income rose considerably, from a loss of $34.8 million in 2022 ... Read the full article
Conduit Re posts strong 2023 results with 72.1% CoR and reinsurance revenue growth
21st February 2024
Bermuda-based reinsurer Conduit Re recorded a rise in gross premiums written (GPW) in 2023 to $931.4 million, as reinsurance revenue increased 61% year-on-year to $633 million and the company's combined ratio strengthened considerably to 72.1%. Conduit Re has today reported a strong set of results for the year, with CEO Trevor ... Read the full article
Concirrus reports 204.6% revenue growth amidst challenging insurtech climate
21st February 2024
AI insurtech Concirrus has revealed a 204.6% surge in revenue for the fiscal year ending in December 2023, marking a pivotal shift towards profitability in the latter half of the year. This comes amidst a tumultuous period for the global insurtech sector, which grappled with a sustained decline in funding, plunging ... Read the full article
Enstar reports net income of $1.1bn with ROE of 24.2% for FY23
20th February 2024
Enstar has released its full-year 2023 results, announcing net income of $1.1 billion compared to a net loss of $906 million for 2022. The firm's return on equity (ROE) of 24.2% for the year improved significantly from the prior year. The strong ROE performance was driven by investment returns of $1.1 ... Read the full article
Tysers sees revenue of £100m in H1 2024, confirms growth trajectory
20th February 2024
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has reported revenue of £100 million for H1 of the AU 2024 financial year, as it remains "on track" for future growth. Tysers earnings before interest and taxes (EBIT) for H1 of 2024 stood at £20.3 million, with a ... Read the full article
Canada Life Re reports record earnings for 2023
19th February 2024
Canada Life Re, comprised predominantly by the Capital and Risk Solutions division, has reported “record” $794 million in earnings for 2023, as its parent company, Great-West Lifeco, sees strong earnings of $3.7 billion for the year. For the fourth quarter of 2023, the Capital and Risk Solutions division base earnings grew ... Read the full article
Kinsale Capital reports GWP growth of 33.8% in Q4’23
19th February 2024
Kinsale Capital Group has reported a net income of $103.4 million for the fourth quarter of 2023, compared to a net income of $67.2 million from the fourth quarter of 2022. The company also reported net income of $308.1 million for the year ended December 31, 2023, compared to $159.1 million ... Read the full article
Fairfax Financial sees net earnings increase in 2023 to $4.4bn
16th February 2024
Fairfax Financial Holdings Limited has announced its financial results for the fiscal year 2023 net earnings of $4,381.8 million, compared with fiscal year 2022 net earnings of $3,374.2 million. In Q4, the net earnings were $1,328.5 million, compared to $2,318.1 million in Q4'22. The consolidated combined ratio of the property and casualty ... Read the full article
Kin records $344m GWP in FY23 results, total revenue hits $104m
16th February 2024
Kin, the direct-to-consumer home insurance company, has posted $344.1 million in gross written premium (GWP) in their full year 2023 results, representing 51% year-over-year (YoY) growth. Total revenue for FY23 sat at $104.5 million, which represented 53% YoY growth compared to 2022's $68.2 million. The company also posted an operating income of ... Read the full article
IAG sees growth of 12.5% in GPW to $7.9bn, the strongest in nine years
16th February 2024
Australian insurer IAG has posted an H1 2024 gross premiums written (GWP) increase of 12.5% to $7.9 billion year over year, the strongest in the past nine years, as the firm's insurance profit increased by 75%. The group’s insurance profit of $614 million went up from $350 million in the prior ... Read the full article
QBE’s annual profit more than doubles to $1.36bn
16th February 2024
Australian insurer QBE has announced a 2023 full-year statutory net profit after tax of $1.36 billion, up substantially compared with the $587 million recorded in 2022. At the same time, gross written premiums for the full year grew 10% from 2022 to $21.7 billion, while net insurance revenue reached $16.6 billion, ... Read the full article
Swiss Re posts huge rise in net income as P&C Re CoR strengthens to 94.8%
16th February 2024
Large European reinsurer Swiss Re has today reported a significant rise in net income to $3.2 billion for 2023 and a return on equity of 22.3%, as underwriting margins improved and the firm's P&C reinsurance arm delivered income of $1.9 billion. Group-wide, net income increased by 578% from the $472 million ... Read the full article
Corebridge Financial sees $1.3bn net loss in Q4 2023
15th February 2024
American multinational financial services company, Corebridge Financial has announced its fourth quarter of 2023 financial results, reporting a net loss of $1.3 billion. This figure compares to a net loss of $207 million in Q4 2022. According to the company, the change was largely driven by realised losses recorded for the ... Read the full article
Tower expects FY24 underlying NPAT at upper end of or exceed range of $22m & $27m
15th February 2024
Kiwi insurer Tower has updated its earnings guidance on underlying net profit after tax (NPAT) for the year ending September 30, 2024 to be at the upper end of or exceed the previously advised range of between $22 million and $27 million. This assumes full utilisation of a large events allowance ... Read the full article
Palomar Holdings reports $79.2m net income in FY23, GWP hits $1.1bn
15th February 2024
Palomar Holdings has posted a net income of $79.2 million for the full year 2023, representing significant growth from $52.2 million that the company recorded in 2022. The company's gross written premiums (GWP) also saw a solid rise, increasing by 29.4% to $1.1 billion compared to $881.9 million in 2022. Moreover, Palomar ... Read the full article
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