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.
Hannover Re’s H1 profit rises as P&C result offsets COVID losses in L&H
5th August 2021
Global reinsurer Hannover Re has reported Group net income of €670.6 million for the first half of 2021, supported by a significant improvement in the performance of its property and casualty (P&C) business, somewhat offset by COVID-19 losses of €236.4 million in its life and health (L&H) operation. For H1 2021, ... Read the full article
Verisk insurance revenues up 11.8% in Q2
4th August 2021
Data analytics provider Verisk has reported overall revenue growth of 10.1% to $747.5 million during the second quarter of 2021, boosted by revenue growth of 11.8% in its insurance segment. Underwriting and rating revenues increased 11.2% in the quarter, resulting from annual increases in prices following enhancements to the content of ... Read the full article
Universal CEO says insurer is hyper-focused on driving more primary rate
4th August 2021
Florida headquartered insurer Universal is said to be hyper-focused on driving more primary rate into its portfolio, according to Chief Executive Officer Steve Donaghy. Speaking at a recent earnings call, Donaghy described how the two pillars of price and exposure discipline, along with recent property insurance legislation in Florida and a ... Read the full article
Greenlight Re returns to underwriting profitability
4th August 2021
Greenlight Capital Re has reported its Q2 2021 financial results, showing an underwriting income of $4.562 million compared to a loss of $1.306 million for the prior year period. Its combined ratio came in at 96.5%, an improvement from 101.2% last year. The higher underwriting income was due primarily to the ... Read the full article
Markel’s H1 income rises to $1.2bn as CR strengthens to 90%
4th August 2021
Markel Corporation has reported comprehensive income of approximately $849.7 million for the second quarter of 2021 and a lower combined ratio of 87%, which reflects a lower current accident year loss ratio. Year-on-year, Markel's Q2 2021 income did fall from the $1.1 billion announced in Q2 2020. Although, net income for ... Read the full article
RGA announces higher income in 2021 as COVID-19 claims subside
4th August 2021
Global life reinsurance carrier, Reinsurance Group of America, Incorporated (RGA), has reported a higher net income, year-on-year, for both the second quarter and first half of the year, while premiums increased by 11% to $3.1 billion. Overall, RGA has announced net income of $344 million for Q2 2021, compared with $158 ... Read the full article
WTW reports increased income, revenue for second quarter
3rd August 2021
Re/insurance broker Willis Towers Watson has announced second quarter net income of $186 million, up from the $102 million reported in the prior year period. Revenue was $2.29 billion, an increase of 8% from the $2.11 billion reported a year ago. Adjusted operating income was $409 million, or 17.9% of revenue, an ... Read the full article
European storms weigh on Generali’s H1 P&C results
3rd August 2021
Generali has recorded a 3.6% decrease in its property and casualty (P&C) operating result for the first half of 2021, after booking €218 million of natural catastrophe claims during the period. This compares with €118 million of claims for H1 2020, as losses this year were boosted by a storm in ... Read the full article
Argo reports highest operating income in ten years
3rd August 2021
Argo Group has reported second quarter net income attributable to common shareholders of $67.1 million, up from the $5.4 million reported in the prior year period. Operating income in the second quarter was $56.1 million compared to an operating loss of $3.6 million last year. Gross written premiums increased 2.0% to $815.3 ... Read the full article
Hiscox reports 93.1% combined ratio as reinsurance returns to profit in H1
3rd August 2021
Insurer and reinsurer Hiscox has announced a turnaround of its financial performance for the first half of 2021, as the carrier's pre-tax profit reached $133.4 million, compared with a loss of almost $140 million for the same period last year. At the halfway stage of last year, Hiscox reported reserves ... Read the full article
CNA improves Q2 income, targets new business
2nd August 2021
Chicago-based insurer CNA Financial Corporation has improved its net income to $368 million for the second quarter of 2021, due to new business generation, strong investment results, and lower levels of catastrophe losses. The result is more than double the $151 million that CNA posted in Q2 of last year, when ... Read the full article
AXA’s underlying earnings rise as AXA XL improves underwriting result
2nd August 2021
Global insurer AXA has reported a 101% increase in underlying earnings to €3.6 billion and a rise in net income to €4 billion for the first half of 2021, driven by an improved performance in its Property & Casualty (P&C) unit as a result of a strong underwriting result at ... Read the full article
Fairfax reports Q2 net earnings of $1.2bn
2nd August 2021
Canadian property and casualty insurer and reinsurer, Fairfax Financial Holdings' net earnings for Q2 2021 came in at $1.201 billion compared to $434.9 million for the same prior year period. Meanwhile, gross premiums written by Fairfax's re/insurance operations increased to $5.977 billion from $4.702 billion in Q2 2020. The consolidated combined ratio ... Read the full article
Aon’s revenue from Commercial Risk jumps 20% in Q2
30th July 2021
Broking giant Aon has benefited from a 20% jump in revenue within its commercial risk segment, citing strong new business generation, retention, and management of the renewal book portfolio. This improvement has also been attributed to the more discretionary portions of Aon’s business, primarily in transaction liability, project-related work, construction, and ... Read the full article
Brit hits $1.464bn GWP in H1
30th July 2021
Insurer and reinsurer Brit Ltd has reported gross written premiums of USD1.464 billion for H1 2021, up slightly from $1.282 billion during the same prior year period. The company also reported a combined ratio of 94.6%, an improvement from the 106.7% reported in H1 2020. The company claims that this reflects a ... Read the full article