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.
Lancashire’s 2023 profit soars to $321.5m as GPW hit $1.9bn
6th March 2024
Lancashire Holdings has revealed its overall profit after tax for 2023 was $321.5 million, resulting in a change in diluted book value per share of 24.7% and marking a massive improvement compared to 2022's loss of $15.5 million. The firm's 2023 gross premiums written (GPW) also increased 16.9% year-on-year to $1.9 ... Read the full article
SCOR sees P&C combined ratio improvement as FY23 income hits record €812m
6th March 2024
French reinsurer SCOR has reported net income of €162 million for the fourth quarter and a record €812 million for the full year 2023, as the P&C combined ratio strengthened in both periods on the back of lower catastrophe losses. Net income for the quarter and the full year compares with ... Read the full article
State Farm experiences premium growth while reporting underwriting losses in 2023
5th March 2024
Auto and homeowners insurer State Farm has announced its 2023 financial results, reporting earned premium of $87.6 billion and a combined underwriting loss of $14.1 billion across its P&C group of companies. This result compared to an underwriting loss of $13.2 billion on earned premium of $74.3 billion in 2022. According to ... Read the full article
American Coastal sees solid improvement in net income in Q4
5th March 2024
American Coastal Insurance Corporation (ACIC), the property and casualty insurance holding company, has reported a $14.3 million net income attributable to the firm for the fourth quarter of 2023, compared to a net loss of $296.8 million for the fourth quarter of 2022. ACIC confirmed that of this income, $17.1 million ... Read the full article
Miller posts record revenues of £240m in FY23
5th March 2024
Miller, the independent specialist re/insurance broker posted its results for the full-year 2023, which included record total revenues of £240 million, representing a 26% increase from 2022, driven by 19% organic growth and positive contribution from 2022 acquisitions. At the same time, the company also recorded total Gross Written Premium (GWP) ... Read the full article
Hiscox Re & ILS sees record profit of $221.4m in 2023, CoR drops to 69.8%
5th March 2024
Hiscox Re & ILS, the international reinsurance and insurance-linked securities (ILS) arm of the Hiscox Group, has revealed an undiscounted combined ratio of 69.8% for the full year 2023, and a record profit before tax of $221.4 million in "an active year for natural catastrophe losses". Hiscox Re & ILS also ... Read the full article
Aegon reports net loss for FY23, CEO up for re-election
5th March 2024
Life insurer and asset manager Aegon has announced its second half 2023 financial results, reporting a net result of €0 million, and a net loss of €199 million for the full-year. At the same time, the Netherlands-headquartered insurer revealed it is planning to re-elect CEO Lard Friese for a further four ... Read the full article
IRB (Re) returns to underwriting profitability in 2023 amid improved portfolio performance
1st March 2024
Brazilian reinsurer IRB (Re) has reported its best underwriting result since 2019, as an improved portfolio performance on the back of better pricing and exposure reduction resulted in underwriting profit of approximately USD 31 million (R$ 155m) in 2023. The reinsurer's underwriting performance in 2023 marks a considerable turnaround from the ... Read the full article
IGI anticipates full year 2023 net income to hit $118.2m
1st March 2024
In its preliminary results, International General Insurance (IGI) has revealed that full year 2023 net income will reach $118.2 million, up from $89.2 million in 2022. IGI also anticipates an increase in gross written premiums to $688.7 million for the full year 2023, representing growth over 2022 of 18.3%. Meanwhile, book value ... Read the full article
Fidelis reports stronger combined ratio as FY23 GPW rises to $3.6bn
1st March 2024
Fidelis Insurance Holdings Limited, the Bermuda-domiciled re/insurer, has reported underwriting income of $327.3 million and a combined ratio of 82.1% for the full-year 2023, compared to $120.4 million and a combined ratio of 91.9% a year earlier, driven by premium growth in the specialty segment and significantly lower catastrophes and ... Read the full article
Tiptree’s Fortegra posts 37.5% rise in GWP in Q4’23
29th February 2024
Holding company Tiptree has reported a 37.5% increase in gross written premiums and premium equivalents for its specialty insurance subsidiary, Fortegra, in the fourth quarter of 2023. The gross written premiums and premium equivalents grew in Q4'23 and 21.4% for the year, driven by growth in specialty E&S and admitted insurance ... Read the full article
James River sees $152.7mn net loss in Q4 2023
29th February 2024
James River Group Holdings Ltd. has released its financial results for the fourth quarter of 2023 reporting a net loss of $152.7mn, marked by a net loss stemming from the reclassification of its Casualty Reinsurance segment's results to discontinued operations. The Bermuda domiciled insurance holding company, highlighted that due to the ... Read the full article
BRP Group’s total revenues climb 16% in Q4 to reach $284m
29th February 2024
BRP Group, the independent insurance distribution firm, has announced that total revenues increased 16% year-over-year to reach $284.6 million in their results for the fourth quarter of 2023. At the same time, the company reported organic growth of 15%, as well as a fourth quarter loss of $62.5 million, compared with a ... Read the full article
Assured Guaranty sees net income increase in Q4 2023
28th February 2024
Assured Guaranty, a financial guaranty insurer, has announced its financial results for the fourth quarter of 2023 reporting an increased net income of $376 million compared to the $94 million reported in the same period the year prior. According to the firm, this increase was primarily due to a $189 million ... Read the full article
Ambac’s Everspan produces second consecutive quarterly pre-tax profit
28th February 2024
Financial services holding company Ambac has posted a net loss of $16 million and an adjusted net income of $10 million for the fourth quarter of 2023. Included in the company's Q423 results is Everspan, the organisation's specialty program insurer, which produced its second consecutive quarterly pre-tax profit and wrote gross ... Read the full article
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