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.
RLI reports 98.7% combined ratio as net earnings fall to $13.5m in Q3 2023
24th October 2023
Specialty insurer for property, casualty and surety markets, RLI Corp., has reported underwriting income for Q3 2023 of $4.2 million and a combined ratio of 98.7%, compared year over year to $8.8 million and a 97% combined ratio. The company’s Q3 2023 net earnings of $13.5 million, translated to $0.29 per ... Read the full article
Brown & Brown revenues up 15.1% in Q3’23
24th October 2023
US broker firm Brown & Brown has reported revenues of $1,067.7 million for the third quarter of 2023, representing an increase of $140.1 million, or 15.1%, when compared with the same period last year. Notably, organic revenue increased 9.6% from last year, income before income taxes was $242.3 million, increasing 11.1% ... Read the full article
Kemper anticipates net loss of $150m in preliminary Q3 results
24th October 2023
In its preliminary results for Q3 of 2023, Kemper has announced an estimated net loss between $140 million and $150 million and an estimated adjusted consolidated net operating loss between $25 million and $35 million. According to the firm, net loss for Q3 includes an estimated $56 million after-tax non-cash charge ... Read the full article
W. R. Berkley Corporation sees net income increase 45.7% to $334m in Q3
24th October 2023
W. R. Berkley Corporation has reported that Q3 underwriting income and net income grew 34.7% and 45.7% to $258.7 million and $333.6 million, respectively, while net investment income in the quarter stood at $270.9 million, driven by a 59.3% increase in the core portfolio. The firm also disclosed a Q3 operating ... Read the full article
Talanx raises FY23 profit forecast to more than €1.5 billion
24th October 2023
The Talanx Group, the parent company of global reinsurer Hannover Re, expects to report net income of over €1.25 billion for the first nine months of 2023, and has raised its profit expectation for the full year to significantly above €1.5 billion. The carrier notes a strong operating performance of its ... Read the full article
Munich Re reports preliminary Q3 net result of €1.2bn, sets new annual target
23rd October 2023
Citing consistently good operational performance in all business segments, Munich Re has disclosed a preliminary net result for Q3 of ca. €1.2bn, as the firm remains "well positioned" to surpass the previous annual target of €4bn. Munich Re explained that in property-casualty reinsurance, it reported major losses that were slightly below ... Read the full article
Canadian personal auto & property rates up through Q3’23: Applied Systems
20th October 2023
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased in Canada year over year in the third quarter of 2023. Quarter over quarter, premium rate change increased for both Personal Auto and Personal Property compared to ... Read the full article
Guy Carpenter CEO Klisura expects continued challenges in property cat reinsurance
20th October 2023
In a recent Marsh McLennan third-quarter earnings call, Dean Klisura, President and CEO of reinsurance broker Guy Carpenter, shared insights into the upcoming January 1 renewal period and the prevailing market conditions in the reinsurance industry. "We expect challenging market conditions to persist for property cat at the upcoming January 1 ... Read the full article
MMC CEO Doyle expects “more orderly” Jan 1st reinsurance renewal
19th October 2023
During Marsh McLennan's third-quarter earnings call, President and Chief Executive Officer (CEO), John Doyle, shared valuable insights into the state of the reinsurance market and the expectations for the January 1st renewal. "As we look to January 1st, the market appears to be more orderly than last year, but we expect ... Read the full article
Guy Carpenter revenue up 8% to $359 million in Q3’23
19th October 2023
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q3 of 2023 of $359 million, marking an increase of 8% on an underlying basis. Marsh McLennan’s wider Risk & Insurance Services revenue was $3.2 billion in Q3 of 2023, an increase ... Read the full article
The Hanover reports estimated cat losses of $196m for Q3 2023
19th October 2023
The Hanover Insurance Group, Inc. has preliminary estimated catastrophe losses of $195.8 million, before taxes, for the third quarter of 2023, which translates to 13.7 points of net earned premium. Multiple convective storms across the Midwestern United States along with hail and wind damage have been attributed to the majority of ... Read the full article
Travelers reports Q3 net income of $404m despite underwriting loss
18th October 2023
Primary insurance group Travelers has reported a net income of $404m in the third quarter of 2023, driven by investment income growth, despite seeing an underwriting loss of $136m, as a result of higher catastrophes losses of $850m for the period. The insurer’s net income in Q3, lower due to core ... Read the full article
B.P. Marsh sees net asset value increase to £203.5m in H1’23
17th October 2023
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value increased to £203.5 million in its half-year results for the six months to 31st, July, 2023, from £189.5 million as at January 31st, 2023, and £179.8 million a year earlier. According to the firm, this equates ... Read the full article
Weather claims dent Tryg’s Q3 2023 result
13th October 2023
Scandinavian insurance company Tryg has reported that its Q3 2023 insurance service result of DKK 1.51 billion was adversely impacted by over DKK 600 million of weather-related claims, resulting in a decline from the DKK 1.79 billion reported for the same quarter in 2022. Tryg highlights a active summer in terms ... Read the full article
IAG looking to achieve low double digit GWP growth in FY24
11th October 2023
Australian insurer IAG expects to achieve low double digit gross written premium growth in their fiscal year 2024 (FY24), while the firm's reported insurance margin guidance currently sits in the range of 13.5 - 15.5%. During a recent presentation, IAG's Managing Director and CEO Nick Hawkins, explained that the firm has ... Read the full article
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