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.
Steadfast posts 22.4% surge in Q1 of FY24 EBITA year-on-year
2nd November 2023
Steadfast Group, a leading Australian insurance brokerage network, announced a 22.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for the first quarter of FY24 compared to the same period last year. The company's Founder and CEO, Robert Kelly, shared the remarkable performance of the organization during the ... Read the full article
Palomar Holdings sees net income growth in Q3 2023
2nd November 2023
Specialty insurer Palomar Holdings has published its third quarter 2023 results reporting a net income of $18.4 million, a 24.0% increase in gross written premiums and an improved combined ratio of 75.8%. Q3 2023 net income compares to the $4.3 million reported in the third quarter of 2022. Adjusted net income ... Read the full article
Tiptree posts rise in Q3’23 revenue, intends IPO of specialty insurance business Fortegra
2nd November 2023
Holding company Tiptree has reported revenues of $416.5 million for Q3'23, an increase of 14.6% from Q3'22, driven by growth in Fortegra’s specialty insurance lines. Tiptree intends to take its specialty insurance subsidiary, Fortegra, public. Tiptree expects the Fortegra IPO to be a primary offering with the proceeds used to support ... Read the full article
The Hanover posts $8.6m net income for Q3
2nd November 2023
The Hanover Insurance Group has posted a net income of $8.6 million for the third quarter of 2023, compared to net income of $0.5 million in the prior-year quarter. Operating income sat $6.8 million in Q3, compared to operating income of $35.7 million from Q322. At the same time, The Hanover posted ... Read the full article
Allstate posts narrower Q3 net loss despite rise in catastrophe losses
2nd November 2023
U.S. primary insurer Allstate has fallen to a net loss for the third quarter and first nine months of 2023, although the underwriting performance did improve in parts of the business during the quarter despite higher catastrophe losses year-on-year. Allstate has reported a net loss of $41 million for Q3 2023 ... Read the full article
AIG reports improved GI underwriting performance in Q3’23 despite $462m cat load
2nd November 2023
Global insurer AIG has reported a 6.8 points improvement in the General Insurance (GI) combined ratio to 90.5% for the third quarter of 2023, driven by a 7.9 point decrease in the loss ratio to 59.6%. In the third quarter of 2023, GI underwriting income increased $443 million from the prior ... Read the full article
RenRe sees Q3 net income climb to $194m as combined ratio drops to 78%
2nd November 2023
RenaissanceRe has reported Q3 net income available to common shareholders of $194 million, driven by significant growth in its underwriting, fee and investment incomes, while its combined ratio dropped 60.7 points from the same period last year to 78%. This quarter's income figure compares to a net loss of $825.3 million ... Read the full article
AXIS reports strong combined ratio as re/insurance underwriting result improves
2nd November 2023
Bermuda-based re/insurer AXIS Capital has reported an improvement in its combined ratio to 92.7% for Q3 2023, supported by a better underwriting result in both its insurance and reinsurance segments. Group-wide, the third quarter combined ratio improved 11.6 percentage points from 104.3% in 2022, as the net losses and loss expense ... Read the full article
Markel reports 9M’23 net income but combined ratio weakens
2nd November 2023
Insurer Markel Group has reported a higher combined ratio for both Q3 and 9M 2023 on the back of a higher attritional loss ratio and less favourable prior year reserve development, but has reported comprehensive income of more than $1.1 billion for the nine month period compared with a loss ... Read the full article
Verisk posts revenue & net income increases in Q3
1st November 2023
Verisk, a global data analytics and technology provider, has posted an increase in its consolidated and organic constant currency (OCC) revenues, due to strong growth in underwriting and claims within the company's Insurance segment. Consolidated revenues grew 11.1% to $677.6 million. OCC revenues increased 9.4%. Underwriting revenues increased by 8.9% in the ... Read the full article
Mercury General reports 9.4% increase in net premiums earned in Q3
1st November 2023
Mercury General Corporation has posted a 9.4% increase in net premiums earned for the third quarter of 2023, sitting at $1,090,311, compared to $996,939 from the same period last year. Net premiums written also saw an increase from $1,034,476 in Q322 to $1,206,503 in Q323. At the same time, Mercury General did ... Read the full article
Kemper reports net loss of $146.3m in Q3’23
31st October 2023
Kemper Corporation has reported a net loss of $146.3 million for the third quarter of 2023, compared to a net loss of $74.8 million for the third quarter of 2022. Net loss for Q3'23 included a $55.5 million after-tax non-cash charge related to the termination of Kemper’s remaining pension plan obligations, ... Read the full article
Arch reports Q3 net income of $713m as reinsurance result soars
31st October 2023
Arch Capital Group has reported net income available to common shareholders of $713 million for Q3 of 2023, a massive increase compared to the $7 million recorded in the same quarter last year, driven by strong growth in the firm's reinsurance segment. Arch's total underwriting income in Q3 was $721 million, ... Read the full article
PICC P&C posts 26.2% fall in net profit for 9M’23
30th October 2023
China’s PICC Property and Casualty Company (PICC P&C) reported a net profit of RMB19,386 million for the nine months ended September 30, representing a year-on-year decrease of 26.2%. The decline in net profit can be attributed to three main factors: the resurgence of auto transportation, the adverse effects of severe typhoons ... Read the full article
AJ Gallagher forecasts firm pricing, increased demand at Jan renewals: CEO
30th October 2023
In a recent earnings call, J. Patrick Gallagher, Jr., Chairman, President, and CEO of Arthur J. Gallagher & Co., discussed the outlook for the upcoming January reinsurance renewals. Following a stable July 1 renewal season, the company has set its sights on what's ahead for the industry. Gallagher expressed optimism, saying, "Assuming ... Read the full article
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