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.
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
AXIS reports strong combined ratio as re/insurance underwriting result improves
2nd November 2023
Bermuda-based re/insurer AXIS Capital has reported an improvement in its combined ratio to 92.7% for Q3 2023, supported by a better underwriting result in both its insurance and reinsurance segments. Group-wide, the third quarter combined ratio improved 11.6 percentage points from 104.3% in 2022, as the net losses and loss expense ... Read the full article
Markel reports 9M’23 net income but combined ratio weakens
2nd November 2023
Insurer Markel Group has reported a higher combined ratio for both Q3 and 9M 2023 on the back of a higher attritional loss ratio and less favourable prior year reserve development, but has reported comprehensive income of more than $1.1 billion for the nine month period compared with a loss ... Read the full article
Verisk posts revenue & net income increases in Q3
1st November 2023
Verisk, a global data analytics and technology provider, has posted an increase in its consolidated and organic constant currency (OCC) revenues, due to strong growth in underwriting and claims within the company's Insurance segment. Consolidated revenues grew 11.1% to $677.6 million. OCC revenues increased 9.4%. Underwriting revenues increased by 8.9% in the ... Read the full article
Mercury General reports 9.4% increase in net premiums earned in Q3
1st November 2023
Mercury General Corporation has posted a 9.4% increase in net premiums earned for the third quarter of 2023, sitting at $1,090,311, compared to $996,939 from the same period last year. Net premiums written also saw an increase from $1,034,476 in Q322 to $1,206,503 in Q323. At the same time, Mercury General did ... Read the full article
Kemper reports net loss of $146.3m in Q3’23
31st October 2023
Kemper Corporation has reported a net loss of $146.3 million for the third quarter of 2023, compared to a net loss of $74.8 million for the third quarter of 2022. Net loss for Q3'23 included a $55.5 million after-tax non-cash charge related to the termination of Kemper’s remaining pension plan obligations, ... Read the full article
Arch reports Q3 net income of $713m as reinsurance result soars
31st October 2023
Arch Capital Group has reported net income available to common shareholders of $713 million for Q3 of 2023, a massive increase compared to the $7 million recorded in the same quarter last year, driven by strong growth in the firm's reinsurance segment. Arch's total underwriting income in Q3 was $721 million, ... Read the full article
PICC P&C posts 26.2% fall in net profit for 9M’23
30th October 2023
China’s PICC Property and Casualty Company (PICC P&C) reported a net profit of RMB19,386 million for the nine months ended September 30, representing a year-on-year decrease of 26.2%. The decline in net profit can be attributed to three main factors: the resurgence of auto transportation, the adverse effects of severe typhoons ... Read the full article
AJ Gallagher forecasts firm pricing, increased demand at Jan renewals: CEO
30th October 2023
In a recent earnings call, J. Patrick Gallagher, Jr., Chairman, President, and CEO of Arthur J. Gallagher & Co., discussed the outlook for the upcoming January reinsurance renewals. Following a stable July 1 renewal season, the company has set its sights on what's ahead for the industry. Gallagher expressed optimism, saying, "Assuming ... Read the full article
CNA Financial sees net income of $258mn in Q3 2023
30th October 2023
Chicago-based insurer CNA Financial Corporation has reported a net income of $258 million for this third quarter of 2023, which compares to the net loss of $42 million reported in the same period last year. Core income for the quarter was $289 million, versus $43 million in the prior year quarter, ... Read the full article
Trisura Group expects $12mn after-tax loss in Q3 2023
30th October 2023
Specialty insurance provider, Trisura Group, forecasts its net income for the third quarter of 2023 to include $12 million after-tax loss from non-recurring items, including the negative impact of the US run-off program. The firm also estimates an additional negative after-tax impact of $5 million driven primarily by unrealized losses on ... Read the full article
Everest well positioned to seize “generational market opportunity”
27th October 2023
In a third-quarter 2023 earnings call, Everest's President and CEO, Juan Andrade, highlighted a notable surge in demand for reinsurance capacity as clients seek to bolster their risk coverage. Andrade's insights indicated that the need for reinsurance is on the rise, and Everest is well-positioned to meet this growing demand. Regarding ... Read the full article
The Hartford sees net income increase to $645m in Q3’23
27th October 2023
Property and casualty (P&C) insurer The Hartford has reported a net income of $645 million for the third quarter of 2023, a 93% increase from $334 million from the same period last year. According to the firm, this was primarily due to a higher P&C underwriting gain, an increase in net ... Read the full article
Cincinnati Financial reports improved underwriting result with 94.4% combined ratio
27th October 2023
Insurer Cincinnati Financial Corporation has reported a third quarter 2023 property and casualty (P&C) underwriting profit of $112 million and a combined ratio of 94.4%, a significant improvement on the 103.9% posted in Q3 2022. Within its insurance operations, there was 12% growth in Q3 2023 net written premiums, including price ... Read the full article
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