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.
Hiscox sees 9M GWP rise 6.4% to $3.5bn off strong rate momentum
2nd November 2021
International specialist insurer Hiscox has reported gross premiums written for the first nine months of 2021 of $3,462.9 million, a 6.4% increase driven by strong rate momentum across business segments. Hiscox London Market achieved aggregate rate increases of 13% across the portfolio, with cyber growing at a significant double digit rate. In ... Read the full article
CNA’s Q3 net income rises to $256mn
1st November 2021
Chicago-based insurer CNA has announced a net income for the third quarter of $256 million, having registered $213 million in the prior year quarter. Core income for the quarter was $237 million, also up from the $193 million achieved in the prior year quarter. The Property & Casualty segment produced core income ... Read the full article
MAPFRE highlights reinsurance growth as group hits €20bn in 9M revenues
29th October 2021
Spanish re/insurer MAPFRE has reported favourable growth of 14.5% within its reinsurance business, citing it as contributing factor in the overall group’s 6.4% increase in net earnings. MAPFRE RE contributed more than €95 million to earnings, compared to losses of €20 million for the same period in 2020, mainly related to ... Read the full article
Aon falls to $900mn Q3 loss after WTW merger collapse
29th October 2021
Re/insurance broker Aon has posted a net loss of $900 million and an operating loss of $801 million for the third quarter of 2021, after incurring $1.3 billion of charges related to the termination of its planned combination with Willis Towers Watson. But costs associated with the merger collapse disguised what ... Read the full article
Arthur J. Gallagher earnings up 22%, Willis Re takeover on track
29th October 2021
Re/insurance broker Arthur J. Gallagher & Co. has reported 22% growth in net earnings across its brokerage and risk management operations during the third quarter of 2021, ending the period at $275.6 million. Revenues similarly increased by 17% over Q3, moving from $1.50 billion last year to $1.75 billion, with 10% ... Read the full article
Coface 9M net income rises 264% in 2021
29th October 2021
Credit insurer Coface has reported a net income of €190.9 million for the first nine months of 2021, a 264.2% increase from the $52.4 million achieved in the prior year period. A net loss ratio of 25.4% for 9M represents an improvement of 29.8 ppts. The combined ratio, net of reinsurance, stood ... Read the full article
Swiss Re posts solid net income for 2021 on strong P&C reinsurance performance
29th October 2021
Global reinsurance giant Swiss Re has reported net income of USD 1.3 billion for the first nine months of 2021, driven by the strong performance of its property and casualty (P&C) segment which more than offset a COVID-driven loss within its life and health (L&H) business. Overall, Group net income increased ... Read the full article
Everest’s Q3 net income falls by $169.6mn
28th October 2021
Everest Re group has reported a third quarter net loss of $73.5 million, having previously achieved an income of $243.1 million in the prior year quarter. The group also reported a net operating loss of $52.6 million, compared to a $97.0 million income achieved in the same period last year. An underwriting ... Read the full article
Cincinnati reports profitable underwriting for Q3
28th October 2021
Cincinnati Financial Corporation has reported an improved combined ratio of 92.6% compared to 103.6%. At 92.6%, this quarter reflects a profitable income. It was made up of loss expenses of 61.9% compared to 73.8% from the same prior year period. The underwriting expenses were reported at 30.7%, slightly higher than Q3 2020’s ... Read the full article
The Hanover Q3 income falls to $34m on heavy cat losses
28th October 2021
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has reported net income of $34.0 million for the third quarter of 2021, compared to $118.9 million for the same period last year. The considerable drop in performance can be mainly attributed to the $153.5 million of catastrophe losses that ... Read the full article
Willis Towers Watson reports organic revenue growth of 7% in Q3
28th October 2021
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has announced a 4%, or 7% on an organic basis rise in revenue to $1.97 billion for the third quarter of 2021, as net income improved year-on-year by a huge 646% to $903 million. For the first nine months of the year, ... Read the full article
Arch’s Q3 reinsurance underwriting income falls 807% to $38mn loss
28th October 2021
The reinsurance segment of Arch Capital saw its underwriting income fall 807% to a $38,948 million loss in the third quarter. The segment's combined ratio also rose to 106.2% from 99.0%, reflecting 34.6 points of current year catastrophic activity, primarily related to Hurricane Ida, European floods. Estimated net favourable development of prior ... Read the full article
Universal reports $432.9mn in DPW for Q3, return to underwriting profit
28th October 2021
Universal Insurance Holdings has reported its direct premiums written came in at $432.9 million in the third quarter of 2021, while the insurer's underwriting returned to profitable territory. Direct premiums earned for Q3 2021 were up 15.0% from the prior year's third quarter to $410.6 million, with an annualised return on ... Read the full article
AXIS returns to profit in Q3 despite reinsurance underwriting loss
28th October 2021
Bermuda-based AXIS Capital Holdings Limited has reported net income of $47 million for the third quarter of 2021, despite its re/insurance operations falling to an underwriting loss in the period. AXIS has returned to profit in both the third quarter and first nine months of 2021, when compared with a net ... Read the full article
Ping An sees net profit fall 20% in first 9 months of 2021
27th October 2021
Ping An saw net profit attributable to shareholders decreased 20.8% year on year to $12.7 billion. Operating profit attributable to shareholders rise 9.2% year on year to $18.5 billion, equivalent to a 20.3% annualised operating ROE in the first nine months of 2021. The Group's assets exceeded $1.5 trillion，approaching $1.8 trillion. Life & ... Read the full article