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.
Brookfield Reinsurance sees $360m net income in Q2 2023
10th August 2023
Brookfield Reinsurance has announced its financial results for the second quarter of 2023 with a net income of $360 million, which compares to the $25 million reported in the same period last year. According to the firm, this figure was the result of unrealized mark-to-market gains on its investments and insurance ... Read the full article
Allianz reports strong growth in P&C segment for Q2 2023
10th August 2023
Global insurance giant Allianz has reported double-digit growth in its property and casualty (P&C) insurance business segment for the second quarter of 2023, with total business volume hitting €17.6 billion. Within P&C, business volume was up 8%, and when adjusted for foreign currency translation and consolidation effects, internal growth was robust ... Read the full article
Global Indemnity posts net income in Q2’23 vs year-ago net loss
10th August 2023
Property and casualty insurer Global Indemnity has reported net income available to shareholders of $9.2 million for the second quarter of 2023, compared to net loss available to shareholders of $12.3 million for the corresponding period in 2022. The insurer renewed its property catastrophe excess of loss reinsurance treaty on June ... Read the full article
BRP Group posts 22% organic growth in Q2
10th August 2023
BRP Group, an independent insurance distribution firm, has released its results for the second quarter of 2023, which included its revenue growing by 28% to $297.2 million, as well as witnessing strong organic growth of 22%. The company also witnessed a quarterly loss of $43.7 million from a profit of $16.6 ... Read the full article
Skyward Specialty reports slightly higher combined ratio for Q2 2023 as net income rises
10th August 2023
Skyward Specialty Insurance Group, Inc. has reported a slightly higher combined ratio for Q2 2023 at 92.2% compared to the 91.8% for Q2 2022. The company has also reported a higher loss ratio for Q2 2023, currently at 64% compared to the year-over-year of 62.8%. The increased loss ratio for Q2 ... Read the full article
QBE’s H1’23 net profit soars to $400m on huge investment income
10th August 2023
QBE announced net profit after tax of $400 million for the first half of 2023, compared with $48 million in the same six-month period last year. The rise mainly owed to an H1 investment income of $662 million, versus a loss of $20 million last year, reflecting the significant increase in ... Read the full article
Liberty Mutual sees $585m net loss in Q2, cat losses more than double to $2.27 billion
10th August 2023
Liberty Mutual Holding Company and its subsidiaries (LMHC) have reported their results for the second quarter of 2023 and the first half of 2023, posting a net loss attributable to LMHC of $585 million and $660 million for Q223 & H123, compared to net loss' attributable to LMHC of $343 ... Read the full article
Lancashire expects positive rate environment to persist as H1 2023 GPW rises 26%
10th August 2023
Bermuda-based Lancashire Holdings Limited has reported a 26.2% rise in gross premiums written (GPW) for the first half of 2023 driven by growth in both its reinsurance and insurance segments, as the firm highlights a positive rate environment which it expects to persist through the remainder of the year. Across its ... Read the full article
Maiden Holdings sees $2.9m net loss in Q2 2023
10th August 2023
Bermuda-based Maiden Holdings has reported a net loss of $2.9m for the second quarter of 2023 and an operating income of $4.5m, as well as an underwriting loss of $9.3m in both the AmTrust Reinsurance and Diversified Reinsurance segments. These figures compare with net income of $25.8m for the second quarter ... Read the full article
Munich Re posts H1 profit of €2.4bn, “on track” to achieve annual target
10th August 2023
Munich Re generated a profit of €2.4bn in H1 of 2023, higher than half of its full year guidance of €4bn, as the firm remains "on track" to achieve its annual target. The firm explained that the higher result during H1 of 2022 was attributable to lower unwinding-of-discount effects and lower ... Read the full article
Kin’s Q2’23 GWP soars to $109.7 million, marking 55% year-on-year increase
10th August 2023
Kin Insurance has reported a gross written premium (GWP) of $109.7 million for the second-quarter of 2023, up 55% from the year-ago $70.8 million. Kin’s positive operating income nearly doubled to $8.6 million in the second quarter of 2023, driven by disciplined expense management and an ever-increasing renewal base. Kin’s premium renewal ... Read the full article
Vast majority of portfolio is rate adequate, reflecting strong financial position: Hiscox CUO
9th August 2023
In a recent earnings call, Joanne Musselle, Group Chief Underwriting Officer (CUO) of international specialist insurer Hiscox, highlighted the company's satisfaction with the current state of their portfolio's rate adequacy. "Just as a reminder, we've been in a hardening rate market for now five years. We've seen substantial rate increases ... Read the full article
Sompo International sees underwriting income growth in Q1 2023
9th August 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has reported its first quarter of 2023 financial results, which saw an increased underwriting income of $150m, compared to the same period last year. This 27% increase, according to the re/insurer, was due to overall top-line growth and ... Read the full article
Generali posts €42.2 billion GWP in H123, combined ratio hits 91.6%
9th August 2023
Italy-headquartered insurer Generali has reported that gross written premiums (GWP) increased to €42.2 billion (+3.6%), in the first half of 2023, with the insurer noting that this was driven by significant P&C growth (+10.6%). Generali's operating result grew by 28% to reach €3,721 million, which was heavily contributed by the diversification ... Read the full article
Suncorp’s FY23 profit rises despite nat cats exceeding budget by $97 million
9th August 2023
Australian primary insurer Suncorp has reported a nearly 69% increase in net profit to $1,148 million for fiscal year 2023, despite natural hazard costs exceeding budget in the period by $97 million. Total natural hazard costs for the year came out at $1.257 billion, Suncorp said, but for the next fiscal ... Read the full article
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