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.
White Mountains reports GWP rise for Ark in Q3’23 to $251 million
6th November 2023
White Mountains has released its third-quarter results for 2023, saying that its Ark partner firm saw gross written premiums rise to $251 million at Q3'23 compared with $216 million in Q2'22. Ark saw GWP rise to $1,667 million for the first nine months of 2023, compared to $1,253 million in 2022. It ... Read the full article
Corebridge Financial reports 13% fall in Q3’23 net income
6th November 2023
Corebridge Financial has reported a net income of $2.1 billion in the third quarter of 2023, representing a 13% decrease compared to the prior year quarter, largely driven by lower realised gains. Adjusted pre-tax operating income (APTOI) was $813 million, a 29% increase over the prior year quarter. Excluding variable investment ... Read the full article
Trisura’s Q3’23 net income falls 38.7% to $14.8 million
6th November 2023
Specialty insurance provider, Trisura Group, has reported $14.8 million of net income in the third quarter of 2023, a decrease of 38.7% compared to $24.2 million from the prior year quarter, primarily due to costs related to the run-off of a US fronting program. Gross premiums written is replaced by insurance ... Read the full article
Berkshire Hathaway reports strong underwriting performance across insurance & reinsurance
4th November 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong underwriting performance in its property and casualty (P&C) reinsurance business for the third quarter and first nine months of 2023, as premium growth continued. In both periods, all of Berkshire's insurance operations produced an improved underwriting result when ... Read the full article
Hippo reports 38% YoY growth in total generated premium in Q3’23
3rd November 2023
Home insurer Hippo has announced total generated premium (TGP) growth of 38% YoY to $303.7 million in the third-quarter of 2023, compared to $219.9 million a year ago. At the same time, net earned premium for the quarter was $32.9 million, a shift from $10.7 million from the prior year’s quarter. In ... Read the full article
Ryan Specialty reports 22% hike in revenue but Q3’23 net income falls
3rd November 2023
International specialty insurance firm, Ryan Specialty Holdings, Inc., has reported Q3 2023 revenue growth of 21.8% year over year to $501.9 million, compared to $412 million in the prior-year period, although net income fell more than 46%. Net income for the quarter declined to $15.7 million from $29.3 million in the ... Read the full article
Fairfax’s Q3 net earnings expand to $1.07 billion
3rd November 2023
Fairfax Financial Holdings has reported that it achieved net earnings of $1.07 billion in Q3 of 2023, up from $499.4 million in Q3 of 2022. The firm's Q3 adjusted operating income stood at $967.2 million, which Fairfax said reflects its strong core underwriting performance, increased interest and dividends and favourable results ... Read the full article
RGA posts strong premium growth and Q3’23 net income of $287m
3rd November 2023
Global provider of life and health reinsurance, Reinsurance Group of America (RGA), has reported Q3 2023 consolidated net premium growth of 31% year over year, as the firm returned to profit in the period. Net premiums increased from $3.3 billion to $4.3 billion in Q3 2023, and rose from $9.6 billion ... Read the full article
American Financial posts rise in Q3’23 net income to $177m
3rd November 2023
American Financial Group, Inc. (AFG) has reported a net income of $177 million for the third-quarter of 2023, compared to $165 million in Q3'22. In Q3, AFG’s net earnings included net after-tax non-core items that reduced net income by $31 million. By comparison, net earnings for the 2022 third quarter included ... Read the full article
Heritage sees improved Q3 results as it “strides toward sustained profitability”
3rd November 2023
Heritage Insurance Holdings has disclosed a Q3 net loss of $7.4 million, somewhat improved from a net loss of $48.2 million in the same quarter last year, primarily driven by an increase in net premiums earned, higher net investment income, and lower net losses incurred. The firm's gross premiums written in ... Read the full article
AXA grows P&C business, but cuts property cat reinsurance exposure
3rd November 2023
French insurer AXA has reported 7% growth in gross written premiums (GWP) & other revenues to €41.8 billion for 9M 2023 within its property and casualty (P&C) business, as growth in commercial and personal lines more than offset a year-on-year decline at AXA XL Reinsurance. Commercial lines premiums rose 9% to ... Read the full article
Swiss Re reports improved underwriting performance as 9M net income hits $2.5bn
3rd November 2023
A strong underwriting performance in both P&C and L&H reinsurance contributed to significantly improved net income for the first nine months of 2023 for Swiss Re, as the return on equity (ROE) rose to 25.9% for the period. Group-wide, net income rose to $2.5 billion for 9M 2023 compared with a ... Read the full article
Building long-term relationships with reinsurance partners has “been key” for AIG: CEO Zaffino
2nd November 2023
During AIG's Q3 2023 earnings call, Chairman & Chief Executive Officer, Peter Zaffino, explained how building long-term strategic relationships with the company's reinsurance partners has "been key" for repositioning the firm. Zaffino noted how conflicting views have emerged in the market on the combination of gross portfolio underwriting with the strategic ... Read the full article
Lemonade reports top line growth as net loss narrows in Q3’23
2nd November 2023
Lemonade, a digital insurance firm powered by AI and social impact, has reported an 18% year-on-year rise in in-force premium to $719 million for the third quarter of 2023, while its gross loss ratio fell 11% to 83% in the quarter. As well as top line growth, Lemonade's customer count increased ... Read the full article
Selective Insurance posts 17% rise in NPW in Q3
2nd November 2023
Selective Insurance has posted a 17% rise in net premiums written (NPW) for the third quarter of 2023, sitting at $1,058 billion, representing a $155 million increase from last year's $903.4 million. For the nine months ended September 30, NPW came in at $3,143 billion, compared to $2,723.9 billion from the ... Read the full article
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