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.
Aspen’s reinsurance arm sees 16% drop in H1’23 premiums, underwriting income improves
22nd August 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, has reported a 16% decrease in gross written premiums for its reinsurance segment for the first six months of 2023, while underwriting income rose. Gross written premiums (GWP) for H1'23 was $876 million for the reinsurance segment, compared to $1.05 billion in 2022, primarily ... Read the full article
HDI Global SE’s insurance revenue rises by 10% in H123
22nd August 2023
The industrial insurer HDI Global SE part of the Talanx Group has reported that insurance revenue rose by a clear 10% to €4.2 billion in the first half of the year, compared to €3.8 billion from the same period last year. According to the firm, this solid performance was partly due ... Read the full article
IAG sees GWP rise 10.6% to $14.7bn in its FY results
21st August 2023
Australian insurer IAG has reported that Gross Written Premium (GWP) increased 10.6% to $14.7bn in its 2023 full year results, while insurance profit rose 37% to $803m. IAG noted that while the GWP increase was primarily due to premium rises in response to inflation pressures and higher reinsurance and natural perils ... Read the full article
Steadfast posts 24.1% increase in underlying revenue in FY23
17th August 2023
Steadfast Group, the parent company to a range of broking and underwriting operations, including broker Steadfast Re, has reported an underlying revenue of $1.41 billion in FY23, representing growth of 24.1%. The growth in revenue was driven by hardening market and solid volume growth more than mitigated expected cost increases flagged ... Read the full article
IRB (Re) posts underlying profit in Q2’23 vs year-ago loss
16th August 2023
Brazilian reinsurance company IRB (Re), which was formerly named IRB Brasil Re, has reported an underwriting profit of R$35.4 million for the second quarter of 2023, compared with an underwriting loss of R$661.0 million in the second quarter of 2022. The reinsurer posted a net income in Q2'23 of R$20.1 million, ... Read the full article
Aviva sees operating profits rise 8% in H1’23
16th August 2023
In its interim results for 2023, Aviva reported that its operating profit rose by 8% to £715 million in the first half of the year. The firm marked the increase from the same point in 2022 when operating profits stood at £661 million. Aviva reported that General Insurance gross written premiums (GWP) ... Read the full article
L&G reports £942m operating profit in H1 2023
16th August 2023
Legal & General (L&G) has announced a “resilient financial performance” in the first half of 2023, with operating profit and after-tax profit hitting £941 million and £316 million respectively. These figures compare to H1 2022 operating profit and after-tax profit of £958 million and £575 million respectively. “We remain on track to ... Read the full article
IGI sees net income increase 84.1% to $40.5m in Q2
16th August 2023
International General Insurance Holdings Ltd. (IGI) has reported that net income in Q2 increased 84.1% to $40.5 million, with a combined ratio of 73.5%, as the firm continued to benefit from sustained hard market conditions in many of its reinsurance and short-tail lines, and a "more favourable investment environment." IGI explained ... Read the full article
Oxbridge Re posts Q2’23 net loss vs year-ago net income
15th August 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a net loss of $85,000 in the second-quarter of 2023, compared to net income of $77,000 in the second quarter of 2022. The company stated that the loss in the quarter is primarily due to ... Read the full article
QIC posts 181% rise in net profit in H1’23
15th August 2023
Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has reported a net profit of QAR 325 million for the first half of 2023, rising 181% from the same period in 2022. "Throughout the first half of this year, QIC has maintained its strategic focus on expanding ... Read the full article
Hallmark anticipates Hawaii wildfires net loss exposure to be $7.5m
15th August 2023
"Due to the Maui, Hawaii wildfires on August 9, we preliminarily estimate our net loss exposure to be $7.5 million plus additional cost in the form of reinstatement premiums to restore any necessary reinsurance layers," Hallmark Financial has said amid its Q2 results. The wildfire outbreaks in Hawaii have caused mass ... Read the full article
Saudi Re Q2’23 net profit surges, cites improved reinsurance performance
14th August 2023
Saudi Re has reported a net profit before zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 66.02 million for Q2 of 2023, a 1133% increase from the same quarter last year. Gross Written Premiums decreased 54.49% from Q2 2022 to SAR 146.3 million ... Read the full article
Talanx reports record net income of €827m in H1
14th August 2023
Talanx Group, the parent company of Hannover Re, has reported that group net income increased 21% to €827 million in the first half of 2023, marking the best H1 result in the firm's history. Based on this number, Talanx affirmed that it is confident it will exceed the full-year group net ... Read the full article
Lancashire CEO highlights investor caution amid favourable market conditions
11th August 2023
During a recent earnings call, Lancashire CEO Alex Maloney discussed the current landscape of the insurance and reinsurance industry, shedding light on the cautious approach of investors despite a promising market outlook. Maloney's insights underscore the need for sustained evidence of profitability before significant capital inflow occurs. Maloney began by acknowledging the ... Read the full article
Zurich reports increase in revenue while BOP goes down on H1 2023
11th August 2023
Zurich Insurance Group has reported that H1 2023 P&C insurance revenue was up 10% on a like-for-like basis to $20,163m, while business operating profit was down to $ 2,247m, from $2,379m in H1 2022. This quarter P&C (BOP) was 6% lower than in the previous year. In local currency, first half ... Read the full article
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