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.
Kin sees premium surge through 2021
21st January 2022
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has reported that its total managed premium increased by more than four times during 2021. The company finished the year with $104.8 million in total managed premium, compared with $25.0 million at the end of 2020. Around ... Read the full article
Travelers reports record Q4 net income, but exhausts agg reinsurance
20th January 2022
The Travelers Companies has today reported its net income of $1.3 billion for the fourth quarter of 2021, which was driven by higher net investment income and a higher underlying underwriting gain. At $1.333 billion, the insurer’s net income hit a record number in comparison to $1.31 billion which was reported ... Read the full article
Howden Group’s 2021 organic growth hits new high
20th January 2022
Howden Group Holdings has reported record organic growth of 19% for the full-year 2021, alongside a 48% rise in revenue to roughly £1.2 billion, and a 50% increase in EBITDA to £335 million. Organic growth of 19% marked a notable improvement on the 6% posted for 2020. While revenue of almost ... Read the full article
Year-on-year average premium rates remain positive: Applied Systems
24th November 2021
Applied Systems has announced the third quarter 2021 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. The company discovered that overall, the magnitude of rate increases increased across all lines, in comparison with the average premium renewals in the same quarter last year with 8.76% in ... Read the full article
9M results show $6bn underwriting loss for US P&C industry: AM Best
22nd November 2021
Increased losses and expenses in the US property and casualty (P&C) industry during the first nine months of 2021 led to a $6.1 billion underwriting loss for the period, according to a new AM Best report. According to the report, the P&C industry recorded 8.2% growth in net earned premiums and ... Read the full article
Net premiums up, but combined ratio deteriorates for RAA’s cohort of reinsurers
19th November 2021
The latest data from the Reinsurance Association of America (RAA) shows that a group of 17 U.S. property / casualty reinsurers wrote $57.3 billion of net premiums during the first nine months of the year, although the group's combined ratio deteriorated slightly to 100.7%. Net premiums increased from the $49.3 billion ... Read the full article
Tokio Marine Intl. non-life profit up by 200%
19th November 2021
Total non-life profits from the international operations of re/insurance holding company Tokio Marine rose by 199.2% to $1.1bn in the second quarter of 2021’s financial year. The improved performance was driven by North America, although a better result was also evident in its European operations. According to Tokio Marine, its international operations ... Read the full article
Sompo International profits recover to $313m in H1
19th November 2021
Bermuda-based specialty P&C re/insurer Sompo International Holdings has recorded adjusted profit of $313 million for its fiscal H1 period, bouncing back from a loss of $14 million for the same period last year. The company reported a marked improvement in profits over the six months ending September 30th, mainly due to ... Read the full article
MS Amlin reports H1 loss on Ida and European floods
19th November 2021
MS Amlin has reported a £101 million adjusted loss for the first half of the year, despite a 10.9 percentage point improvement in its combined ratio to 99.9% for the period. The main reason for the negative result was catastrophe losses in the period, driven mostly by the impacts of Hurricane ... Read the full article
VIG reports 41% rise in 9M profits
18th November 2021
Vienna Insurance Group (VIG) has reported a 41.2% rise in profit before taxes for the first nine months of 2021, which totalled €376 million, versus €266.3 million for the same period last year. The company also recorded a 0.9 percentage point improvement in its combined ratio of 95.2%, as the impact ... Read the full article
Ardonagh’s 9M 2021 income rises 30%
18th November 2021
UK-based independent insurance distribution platform and global brokerage, The Ardonagh Group, has reported a 30% rise in income for the first nine months of 2021 to £675.7 million, supported by strong growth in its Specialty and International units. Total income improved markedly from the £519.5 million reported for the same period ... Read the full article
Hannover Re parent Talanx reports €177m Q3 income
15th November 2021
Hannover Re's parent company Talanx has reported group net income of €177 million during the third quarter of 2021, bringing its total for the first nine months of the year to €723 million. Although the Q3 figure is slightly down from the €194 million reported in the same period last year, ... Read the full article
IRB Brasil Re falls to net loss in Q3 as re-underwriting strategy continues
12th November 2021
Brazilian reinsurer IRB Brasil Re has fallen to an underwriting loss of R$677.8 million (USD 125mn) for the third quarter of 2021, alongside a 12.4% decline in gross written premium (GWP) to R$2.6 billion (USD 479mn). IRB Brasil Re is in the process of a re-underwriting strategy, which is a driver ... Read the full article
Midwest announces $3.1mn Q3 net loss
12th November 2021
Midwest has reported a third quarter net loss of $3.1 million, against a net loss of $5.5 million in the prior year quarter. Revenue was $5.8 million compared to negative $0.5 million in the third quarter of 2020, driven by an increase in investment income from growth. Invested assets grew to $942.8 ... Read the full article
Brookfield Reinsurance posts Q3 loss of $6m
12th November 2021
Brookfield Asset Management Reinsurance Partners Ltd. (Brookfield Reinsurance) has posted a net loss of $6 million for the third quarter of 2021, despite closing a number of significant transactions during the period. The company also reported a net loss of $1 million for the first nine months of the year, but ... Read the full article