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.
Great-West Lifeco sees base earnings increase to $950m in Q3
10th November 2023
Great-West Lifeco Inc. reported a solid increase in its base earnings in the third quarter of 2023, as they rose from $809 million to $950 million. The firm attributed the sharp increase primarily to business growth, as well as higher average equity markets and interest rates. At the same time, Great-West Lifeco ... Read the full article
Brookfield Reinsurance sees $77mn net income in Q3 2023
9th November 2023
Brookfield Reinsurance has announced its financial results for the third quarter of 2023 reporting a net income of $77 million, which compares to the $139 million reported in the same period last year. According to Brookfield, this figure was the result of contributions from the firm’s distributable operating earnings (DOE), less ... Read the full article
Liberty Mutual sees $219 million net income in Q3’23
9th November 2023
Liberty Mutual Holding Company and its subsidiaries (LMHC) have reported their results for the three and nine months ended September 30, 2023, posting a net income attributable to LMHC of $219 million and loss of $441 million for Q3'23 & 9M'23, compared to net loss’ attributable to LMHC of $353 ... Read the full article
Argo Group reports Q3’23 underwriting loss on higher loss ratio
9th November 2023
Argo Group International Holdings, Ltd. has announced a deterioration in its combined ratio to 115.8% for Q3 2023 compared with 101.1% in Q3 2022, driven by a higher loss ratio. The firm reported an underwriting loss of $54.3 million, compared with a $4.8 million loss a year earlier, as the loss ... Read the full article
Greenlight Re reports $13.5mn net income for Q3 2023
9th November 2023
Greenlight Re has reported a net income of $13.5mn for the third quarter of 2023, compared to the $18.5mn net loss seen in the same quarter last year; gross premiums written (GPW) increased to $183.1mn, and combined ratio improved to 91.2% from 115.4%. The 18% GPW increase in Q3 2023 relates ... Read the full article
SiriusPoint’s combined ratio hits 88% in Q3, generates $43m underwriting profit
9th November 2023
Specialty insurer and reinsurer, SiriusPoint Ltd. has posted a combined ratio of 88% for the third quarter of 2023, compared to last year's 107.7%, while also reporting a net income of $58 million for the same period. In Q3, the company's core income totaled $50 million, which includes an underwriting income ... Read the full article
Lancashire sees GWP grow 23.2% as insurance revenue breaches $1bn
9th November 2023
In its nine month results, Lancashire Holdings Limited has reported that gross premiums written increased by 23.2% year-on-year to $1.6 billion, while IFRS 17 insurance revenue increased by 22.1% to $1.1 billion. Of the total gross premiums written, the reinsurance segment accounted for $837.7 million, while the insurance segment accounted for ... Read the full article
Zurich P&C insurance revenue up 9% YoY to $31.4bn
9th November 2023
In its first nine month results, Zurich Insurance Group has reported that property & casualty insurance revenue grew 9% year-on-year to $31.4 billion, driven by strong growth in commercial and retail insurance. Of this total revenue, Zurich disclosed that the EMEA region accounted for $12.7 billion, while the North American region ... Read the full article
Hannover Re posts stronger P&C combined ratio as net income rises 25%
9th November 2023
Global reinsurer Hannover Re has reported a 25% lift in net income to €1.4 billion for the first nine months of the year, as the reinsurance service result improved 47% to €1.6 billion and the combined ratio strengthened year-on-year. Across the Group, reinsurance revenue rose 1% to €18.5 billion in 9M ... Read the full article
James River posts $16.9m net income in Q3
8th November 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has posted a net income of $16.9 million for third quarter of 2023, compared to net loss of $7.2 million for the third quarter of 2022. Adjusted net operating income for the quarter sat at $18.3 million, compared to adjusted net ... Read the full article
HCI Group posts Q3’23 net income vs year-ago net loss
8th November 2023
Florida-based insurtech HCI Group has reported a net income of $15.7 million in the third quarter of 2023, compared to a net loss net loss of $51.5 million in the second quarter of 2022. Adjusted net income was $16.5 million for the quarter, compared to an adjusted net loss of $51.2 ... Read the full article
BRP Group posts 19% organic growth in Q3’23, revenue rises by 18%
8th November 2023
BRP Group, an independent insurance distribution firm, has released its results for the third quarter of 2023, which included its revenue growing by 18% to $306.3 million, as well as witnessing strong organic growth of 19%. The company also witnessed a quarterly net loss of $32.0 million from a loss of ... Read the full article
Ambac’s Everspan produces first quarterly pre-tax profit
8th November 2023
Financial services holding company Ambac reported a net income of $66 million for its third quarter of 2023, a lower figure compared to the $340 million reported for the same period last year. The firm's Q3 2023 results include the performance of Everspan, Ambac’s specialty program insurer, and MGA division Cirrata. Everspan ... Read the full article
Enstar sees net earnings of $38m in Q3 with ROE of 0.9%
8th November 2023
Enstar has reported a significant improvement in its Q3 2023 results, seeing net earnings of $38 million, up from a net loss of $432 million in the same period last year. This figure brings net earnings attributable to Enstar ordinary shareholders of $483 million for the first 9M of 2023, compared ... Read the full article
Conduit Re reports gross premiums written grows by 50.3% for 9M’23
8th November 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, reported a 50.3% increase in gross premiums written for the nine months ended 30 September 2023 of $764.4 million. The overall portfolio risk-adjusted rate change for 9M'23, net of claims inflation, is 15%. The investment return for the first nine ... Read the full article
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