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 Re & ILS continues to benefit from hard market in Q3’23
8th November 2023
Specialist insurer and reinsurer Hiscox has announced net insurance contract written premium (ICWP) within Hiscox Re & ILS grew 23.6% to $438.3 million in the third quarter of 2023, as the business seized the opportunities in the hard market. Hiscox highlighted that its Re & ILS segment growth was compared to ... Read the full article
Munich Re posts strong Q3’23 results as P&C combined ratio strengthens to 82%
8th November 2023
European reinsurer Munich Re has lifted its annual guidance for its net result to €4.5 billion after reporting a solid set of third quarter and nine month 2023 results, as the firm closed a third consecutive quarter with a net result above pro-rate guidance. For Q3 and 9M 2023, Munich Re ... Read the full article
Direct Line posts 115% increase in motor GWP in Q3
8th November 2023
Direct Line Group doubled its motor gross written premiums (GWP) in the third quarter of 2023, increasing by 115.4% to £826.8 million. The company attributed this substantial rise towards an improved approach to pricing. DLG's home division also witnessed growth, rising 3.9% to £144.4 million. DLG's rescue and other personal lines division ... Read the full article
IVANS Index shows average premium renewal rates up in October
7th November 2023
IVANS, a division of Applied Systems, has reported renewal rate change for all major commercial lines of business except Workers’ Compensation are up year over year in October 2023. The third quarter of 2023 experienced an increase in average premium renewal rate change across all major commercial lines compared to Q2'23, ... Read the full article
FWD Group announces robust growth momentum
7th November 2023
Pan-Asian life insurance business, FWD Group sees “another quarter of robust double digit new business growth”, Group Chief Executive Officer, Huynh Thanh Phong stated as the company publishes its business highlights for the nine months ended 30 September 2023. New business sales for the FWD Group grew 22%, to $1,253 million. ... Read the full article
Skyward Specialty posts $21.7m net income for Q3, combined ratio sits at 90.2%
7th November 2023
Skyward Specialty Insurance Group, Inc. has posted a net income of $21.7 million for the third quarter of 2023, compared to a net loss of $2.4 million for the same period last year. Net income for the first nine months of 2023 sits at $56.7 million, a substantial improvement compared to ... Read the full article
QIC 9m net profit soars 445% to QAR 453m
7th November 2023
Qatar Insurance Company (QIC) has reported Net Profits of QAR 453 million for the first nine months of 2023, rising a massive 445% from the same period in 2022. Despite noting an array of challenges in the current market environment, QIC also disclosed net investment results amounting to QAR 681 million ... Read the full article
Beazley takes advantage of “exceptional” property market in 9M 2023
7th November 2023
Specialist insurer Beazley has reported insurance written premium growth of 9% to $4.3 billion for the first nine months of 2023, as the firm took advantage of opportunities in the property market. Net insurance written premiums rose 26% year-on-year to $3.5 billion in 9M 2023, as Beazley reports an overall year ... Read the full article
White Mountains reports GWP rise for Ark in Q3’23 to $251 million
6th November 2023
White Mountains has released its third-quarter results for 2023, saying that its Ark partner firm saw gross written premiums rise to $251 million at Q3'23 compared with $216 million in Q2'22. Ark saw GWP rise to $1,667 million for the first nine months of 2023, compared to $1,253 million in 2022. It ... Read the full article
Corebridge Financial reports 13% fall in Q3’23 net income
6th November 2023
Corebridge Financial has reported a net income of $2.1 billion in the third quarter of 2023, representing a 13% decrease compared to the prior year quarter, largely driven by lower realised gains. Adjusted pre-tax operating income (APTOI) was $813 million, a 29% increase over the prior year quarter. Excluding variable investment ... Read the full article
Trisura’s Q3’23 net income falls 38.7% to $14.8 million
6th November 2023
Specialty insurance provider, Trisura Group, has reported $14.8 million of net income in the third quarter of 2023, a decrease of 38.7% compared to $24.2 million from the prior year quarter, primarily due to costs related to the run-off of a US fronting program. Gross premiums written is replaced by insurance ... Read the full article
Berkshire Hathaway reports strong underwriting performance across insurance & reinsurance
4th November 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong underwriting performance in its property and casualty (P&C) reinsurance business for the third quarter and first nine months of 2023, as premium growth continued. In both periods, all of Berkshire's insurance operations produced an improved underwriting result when ... Read the full article
Hippo reports 38% YoY growth in total generated premium in Q3’23
3rd November 2023
Home insurer Hippo has announced total generated premium (TGP) growth of 38% YoY to $303.7 million in the third-quarter of 2023, compared to $219.9 million a year ago. At the same time, net earned premium for the quarter was $32.9 million, a shift from $10.7 million from the prior year’s quarter. In ... Read the full article
Ryan Specialty reports 22% hike in revenue but Q3’23 net income falls
3rd November 2023
International specialty insurance firm, Ryan Specialty Holdings, Inc., has reported Q3 2023 revenue growth of 21.8% year over year to $501.9 million, compared to $412 million in the prior-year period, although net income fell more than 46%. Net income for the quarter declined to $15.7 million from $29.3 million in the ... Read the full article
Fairfax’s Q3 net earnings expand to $1.07 billion
3rd November 2023
Fairfax Financial Holdings has reported that it achieved net earnings of $1.07 billion in Q3 of 2023, up from $499.4 million in Q3 of 2022. The firm's Q3 adjusted operating income stood at $967.2 million, which Fairfax said reflects its strong core underwriting performance, increased interest and dividends and favourable results ... Read the full article
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