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.
Prudential Financial returns to profit in Q4 2023
7th February 2024
US insurance and investment firm, Prudential Financial, Inc., has reported fourth-quarter 2023 net income of $1.317 billion compared to a net loss of $52 million in the prior year's quarter. The insurer’s after-tax adjusted operating income was $943 million in Q4 2023, compared year over year to $932 million. The net income ... Read the full article
White Mountains reports GWP rise to $232 million for Ark in Q4’23
7th February 2024
White Mountains has released its fourth-quarter results for 2023, reporting that its Ark partner firm produced strong underwriting results in both the quarter and the full year, while growing full-year gross written premiums 31%, according to CEO Manning Rountree. Ark saw gross written premiums (GWP) rise to $232 million in Q4 ... Read the full article
Pro Global reports 12% revenue growth in FY23
7th February 2024
Pro Global has recorded 12% revenue growth for the full year 2023, marking the third consecutive year of double-digit revenue progression for the company. The year also saw the company acquire a specialist Robotic Process Automation (RPA) business (Propel Automation). According to Pro Global, the acquisition is set to further enable its ... Read the full article
Cincinnati Financial posts net income of $1.84 billion in full-year results
7th February 2024
Insurer Cincinnati Financial Corporation has reported a full-year 2023 net income of $1.84 billion, compared with a net loss of $487 million in 2022. For Q4 alone, the firm posted a net income of $1.18 billion, compared with a net income of $1.01 billion for the same quarter of 2022. This came ... Read the full article
Hannover Re: 2023 operating result hit by “significantly higher” Q4 reserving
6th February 2024
Global reinsurance firm Hannover Re has warned that when it reports its full-year 2023 results, its operating result for the year will be impacted by a resiliency reserve that has been set "significantly higher" than forecast in the fourth-quarter. Hannover Re sets a property and casualty reinsurance resiliency reserve to balance ... Read the full article
WTW reports organic revenue growth of 6% for Q4’23
6th February 2024
Global brokerage firm WTW has reported 6% organic revenue growth for the fourth quarter of 2023 to $2.91 billion, while net income for the period rose by 5%, year-on-year, to $623 million. For the full year 2023, WTW achieved 8% organic revenue growth to $9.48 billion, while net income for the ... Read the full article
Howden sees organic growth of 13% as FY23 revenue hits £2.4bn
6th February 2024
Global re/insurance broker, Howden Group Holdings, has announced organic growth of 13%, and a 33% rise in revenue to £2.44 billion for the year ended September 30, 2023. Organic growth of 13% is lower than the previous year of 19%, while revenue increased from the £1.84 billion reported for 2022, as ... Read the full article
Hanoi Re posts 12% increase in revenue in FY23 results
6th February 2024
Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) has posted a 12% increase in revenue to VND2,990 billion (US$122.8 million) for the full-year 2023, representing a 3% increase from 2022, and a 35% increase in pre-tax profit to VND256 billion. At the same time, Hanoi Re’s total revenue for 2023 is estimated ... Read the full article
CNA sees net income increase to $367m in Q4 2023
5th February 2024
Chicago-based insurer CNA Financial Corporation has published its financial results for the fourth quarter of 2023 reporting a net income of $367 million, a 54% increase compared to the $239 million in the prior year quarter. Net investment gains for the quarter were $5 million compared to net investment losses of ... Read the full article
Kemper posts net income of $51.4m in Q4’23 vs year-ago loss
2nd February 2024
Kemper Corporation has reported a net income of $51.4 million for the fourth quarter of 2023, compared to a net loss of $53.3 million for the fourth quarter of 2022. Total revenues for Q4'23 decreased $187.4 million, or 13.6 percent, to $1,187.2 million, compared to the fourth quarter of 2022, mostly ... Read the full article
Aon’s Reinsurance Solutions posts 14% organic revenue growth in Q4’23
2nd February 2024
Aon's Reinsurance Solutions arm delivered organic revenue growth of 14% in the fourth quarter of 2023 to $332 million, as total revenue across the insurance and reinsurance broking group rose $245 million to $3.4 billion. The broker attributes the growth in its reinsurance segment to strong growth in treaty as a ... Read the full article
The Hartford posts $766m net income in Q4, P&C written premiums rise 10%
2nd February 2024
The Hartford has posted a net income of $766 million for the fourth quarter of 2023, a substantial rise from $587 million in the fourth quarter of 2022. The company noted that this was primarily driven from a higher property & casualty (P&C) underwriting gain, including strong premium growth in Commercial ... Read the full article
RGA reports Q4’23 premium growth of 19.2%
2nd February 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported fourth-quarter 2023 premium growth of 19.2% over the prior-year quarter as consolidated net premiums hit $4.1 billion. Net premiums for the quarter include a $500 million contribution from a single premium pension risk transfer transaction in the U.S. ... Read the full article
RenRe grew substantially into still highly favourable market at 1.1 renewal: CEO O’Donnell
1st February 2024
Bermuda-based RenaissanceRe’s President and Chief Executive Officer (CEO), Kevin O'Donnell, recently discussed the company's experience at the January 1st, 2024, reinsurance renewals during the firm's Q4 and full year 2023 earnings call. "At the recent January 1 renewal, we improved this already strong underwriting portfolio. Due to our overwhelming success in ... Read the full article
Phoenix Group achieves 2025 growth target two years early with strong 2023 performance
1st February 2024
Phoenix Group Holdings plc has reported robust organic growth in 2023, exceeding expectations and achieving its 2025 growth target two years ahead of schedule. The financial services company announced new business net fund flows of approximately £7 billion, representing an impressive year-on-year increase of around 80%. Key highlights from the 2023 performance ... Read the full article
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