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.
RGA posts strong premium growth and Q3’23 net income of $287m
3rd November 2023
Global provider of life and health reinsurance, Reinsurance Group of America (RGA), has reported Q3 2023 consolidated net premium growth of 31% year over year, as the firm returned to profit in the period. Net premiums increased from $3.3 billion to $4.3 billion in Q3 2023, and rose from $9.6 billion ... Read the full article
American Financial posts rise in Q3’23 net income to $177m
3rd November 2023
American Financial Group, Inc. (AFG) has reported a net income of $177 million for the third-quarter of 2023, compared to $165 million in Q3'22. In Q3, AFG’s net earnings included net after-tax non-core items that reduced net income by $31 million. By comparison, net earnings for the 2022 third quarter included ... Read the full article
Heritage sees improved Q3 results as it “strides toward sustained profitability”
3rd November 2023
Heritage Insurance Holdings has disclosed a Q3 net loss of $7.4 million, somewhat improved from a net loss of $48.2 million in the same quarter last year, primarily driven by an increase in net premiums earned, higher net investment income, and lower net losses incurred. The firm's gross premiums written in ... Read the full article
AXA grows P&C business, but cuts property cat reinsurance exposure
3rd November 2023
French insurer AXA has reported 7% growth in gross written premiums (GWP) & other revenues to €41.8 billion for 9M 2023 within its property and casualty (P&C) business, as growth in commercial and personal lines more than offset a year-on-year decline at AXA XL Reinsurance. Commercial lines premiums rose 9% to ... Read the full article
Swiss Re reports improved underwriting performance as 9M net income hits $2.5bn
3rd November 2023
A strong underwriting performance in both P&C and L&H reinsurance contributed to significantly improved net income for the first nine months of 2023 for Swiss Re, as the return on equity (ROE) rose to 25.9% for the period. Group-wide, net income rose to $2.5 billion for 9M 2023 compared with a ... Read the full article
Building long-term relationships with reinsurance partners has “been key” for AIG: CEO Zaffino
2nd November 2023
During AIG's Q3 2023 earnings call, Chairman & Chief Executive Officer, Peter Zaffino, explained how building long-term strategic relationships with the company's reinsurance partners has "been key" for repositioning the firm. Zaffino noted how conflicting views have emerged in the market on the combination of gross portfolio underwriting with the strategic ... Read the full article
Lemonade reports top line growth as net loss narrows in Q3’23
2nd November 2023
Lemonade, a digital insurance firm powered by AI and social impact, has reported an 18% year-on-year rise in in-force premium to $719 million for the third quarter of 2023, while its gross loss ratio fell 11% to 83% in the quarter. As well as top line growth, Lemonade's customer count increased ... Read the full article
Selective Insurance posts 17% rise in NPW in Q3
2nd November 2023
Selective Insurance has posted a 17% rise in net premiums written (NPW) for the third quarter of 2023, sitting at $1,058 billion, representing a $155 million increase from last year's $903.4 million. For the nine months ended September 30, NPW came in at $3,143 billion, compared to $2,723.9 billion from the ... Read the full article
Steadfast posts 22.4% surge in Q1 of FY24 EBITA year-on-year
2nd November 2023
Steadfast Group, a leading Australian insurance brokerage network, announced a 22.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for the first quarter of FY24 compared to the same period last year. The company's Founder and CEO, Robert Kelly, shared the remarkable performance of the organization during the ... Read the full article
Palomar Holdings sees net income growth in Q3 2023
2nd November 2023
Specialty insurer Palomar Holdings has published its third quarter 2023 results reporting a net income of $18.4 million, a 24.0% increase in gross written premiums and an improved combined ratio of 75.8%. Q3 2023 net income compares to the $4.3 million reported in the third quarter of 2022. Adjusted net income ... Read the full article
Tiptree posts rise in Q3’23 revenue, intends IPO of specialty insurance business Fortegra
2nd November 2023
Holding company Tiptree has reported revenues of $416.5 million for Q3'23, an increase of 14.6% from Q3'22, driven by growth in Fortegra’s specialty insurance lines. Tiptree intends to take its specialty insurance subsidiary, Fortegra, public. Tiptree expects the Fortegra IPO to be a primary offering with the proceeds used to support ... Read the full article
The Hanover posts $8.6m net income for Q3
2nd November 2023
The Hanover Insurance Group has posted a net income of $8.6 million for the third quarter of 2023, compared to net income of $0.5 million in the prior-year quarter. Operating income sat $6.8 million in Q3, compared to operating income of $35.7 million from Q322. At the same time, The Hanover posted ... Read the full article
Allstate posts narrower Q3 net loss despite rise in catastrophe losses
2nd November 2023
U.S. primary insurer Allstate has fallen to a net loss for the third quarter and first nine months of 2023, although the underwriting performance did improve in parts of the business during the quarter despite higher catastrophe losses year-on-year. Allstate has reported a net loss of $41 million for Q3 2023 ... Read the full article
AIG reports improved GI underwriting performance in Q3’23 despite $462m cat load
2nd November 2023
Global insurer AIG has reported a 6.8 points improvement in the General Insurance (GI) combined ratio to 90.5% for the third quarter of 2023, driven by a 7.9 point decrease in the loss ratio to 59.6%. In the third quarter of 2023, GI underwriting income increased $443 million from the prior ... Read the full article
RenRe sees Q3 net income climb to $194m as combined ratio drops to 78%
2nd November 2023
RenaissanceRe has reported Q3 net income available to common shareholders of $194 million, driven by significant growth in its underwriting, fee and investment incomes, while its combined ratio dropped 60.7 points from the same period last year to 78%. This quarter's income figure compares to a net loss of $825.3 million ... Read the full article
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