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.
Selective reports $991.5m in NPW in Q4 results
1st February 2024
Selective Insurance Group has posted $991.5 million in net premiums written (NPW) for the fourth quarter of 2023, representing a 17% or $142 million increase from the prior year period. For Q4, Standard Commercial Lines premiums (representing 77% of total NPW) increased 13% from a year ago. Selective noted that the premium ... Read the full article
The Hanover’s Q4 net income soars to $107m as its combined ratio settles at 94%
1st February 2024
The Hanover has reported net income of $107.9 million for Q4 of 2023, marking a drastic improvement compared to the net loss of $12.1 million recorded in the same quarter of 2022. Operating income in Q4 of 2023 also grew to $113.1 million, up from an operating loss of $37.4 million, ... Read the full article
Markel reports 79% dip in underwriting profit for 2023
1st February 2024
Global re/insurer Markel Group has announced 2023 underwriting profit of $132.7 million compared with $626.6 million in 2022, driven by declines in both its insurance and reinsurance segments on the back of adverse development on prior year loss reserves. For 2023, the Group recorded a 4% increase in the gross premiums ... Read the full article
AXIS reports 124.6% CR on previously announced Q4’23 reserve strengthening
1st February 2024
Bermuda-based AXIS Capital Holdings Limited has reported a net loss of $150 million for the fourth quarter of 2023 on the back of previously announced net adverse prior year reserve development of $425 million, as the firm's combined ratio deteriorated by 30.5 percentage points to 124.6%. The re/insurer announced last ... Read the full article
Chubb CEO Greenberg hails record 2023 performance
31st January 2024
Global insurer Chubb Limited has reported improved year-on-year net premiums written (NPW), a strong underwriting result, and record net income of $3.3 billion for the fourth quarter of 2023. Alongside the 151.7% year-on-year rise in net income, Chubb's core operating income jumped 103.6% to end Q4 2023 at a record $3.41 ... Read the full article
RenRe reports strong underwriting performance in 2023 with CR of 77.9%
31st January 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) has reported a stronger combined ratio of 76% and 77.9% for the fourth quarter and full year 2023, respectively, as the firm's underwriting and investment income improved for both periods. RenRe has recorded a strong set of results for the final quarter of 2023, as gross premiums ... Read the full article
Suncorp reports total nat cat costs in H1’24 of $568m
29th January 2024
Australian primary insurer Suncorp anticipates the total cost of natural hazard events for H1 2024 to be approximately $568 million, which consists of six significant events during the period. Suncorp's natural hazard allowance for FY24 is $1.36 billion, so the insurer has used less than 50% of its budget at the ... Read the full article
Conduit set to surpass income forecasts due to investment portfolio valuation gains
29th January 2024
Conduit Holdings Limited (CHL), the parent company of Conduit Re, anticipates its comprehensive income for the year to be greater than current consensus forecasts, driven by a more positive valuation of investments. According to the firm, in the second half of 2023, the overall reduction in interest rates led to substantial ... Read the full article
AJ Gallagher CEO highlights orderly 1/1 reinsurance renewals
26th January 2024
In Arthur J. Gallagher & Co.'s Q4 earnings call, J. Patrick Gallagher, Jr., Chairman and CEO, provided insights into the 1/1 renewals in the reinsurance market, highlighting an orderly process and a more balanced supply-demand dynamic. The CEO noted a continued strong demand for property catastrophe cover, met by sufficient reinsurance ... Read the full article
Arthur J. Gallagher sees revenues of $9.9bn in 2023 as key segments improve
26th January 2024
Arthur J. Gallagher & Co. has reported full year 2023 total revenues of $9.9 billion, up substantially from the $8.4 billion recorded in 2022. Gallagher's core brokerage segment reportedly made up $8.6 billion of the total revenue, while its risk management segment accounted for $1.3 billion. Meanwhile, the firm's net earnings for ... Read the full article
Kemper expecting to report Q4 adjusted net operating income of $45m-$55m
26th January 2024
In its preliminary results for the fourth quarter of 2023, Kemper has announced an estimated net income and adjusted consolidated net operating income between $45 million and $55 million. According to the firm, net income includes approximately $15 million of after-tax net realized gains on investments offset by approximately $14 million ... Read the full article
Tryg posts strong 2023 earnings despite weather challenges and currency impact
26th January 2024
Scandinavian insurance company Tryg has reported its financial results for the fiscal year 2023, showcasing resilience and growth amidst a challenging operating environment. Tryg experienced a commendable premium growth of 4.8% in local currencies, driven primarily by strategic price adjustments in the Private and Commercial business segments. The company reported an Insurance Service ... Read the full article
Canadian Personal Auto & Personal Property rates up in Q4: Applied Systems
26th January 2024
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto lines and Personal Property lines increased in Canada year over year, in the fourth quarter of 2023. According to Applied Systems, quarter over quarter, premium rate change increased for Personal Auto, and ... Read the full article
Guy Carpenter revenue up 9% to $252m in Q4’23
25th January 2024
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q4 of 2023 of $252 million, marking an increase of 9% on an underlying basis. For the year 2023, Guy Carpenter's revenue grew 12% compared to 2022, or 10% on an underlying ... Read the full article
W. R. Berkley announces record Q4 and full year 2023 underwriting income
25th January 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q4 2023 combined ratio of 88.4%, including current accident year catastrophe losses of $32 million, as the company's pre-tax underwriting income grew more than 8% to a record $315.9 million. The firm achieved a record-setting year in 2023, achieving a ... Read the full article
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