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.
BRP Group posts net loss in Q1’23 vs year-ago net income
10th May 2023
Independent insurance distribution firm BRP Group has reported a net loss of $14.1 million in the first quarter of 2023, compared to a net income of $22.8 million reported in the same prior-year period. The group also said that its revenue increased 36%, from $242.8 million reported in the first quarter ... Read the full article
Lincoln Financial reports net loss for Q1 2023 of $909 million
10th May 2023
Lincoln Financial Group has reported a net loss available to common stockholders for Q1 2023 of $909 million, compared to net income available to common stockholders in Q1 2022 of $1.481 billion. The company reported the reason for this net loss was primarily driven by unfavourable impacts from a portion of ... Read the full article
Ambac falls to Q1 loss despite Everspan premium surge
10th May 2023
Financial services holding company Ambac has reported a net loss of $33.4 million for the first quarter of 2023, having reported a positive income result of $2.0 million for the same period last year. This was despite Ambac more than doubling its gross written premium to $60.7 million over the same ... Read the full article
Skyward reports improved combined ratio of 90.2% despite higher cat losses
10th May 2023
Specialty insurance firm Skyward Specialty Insurance Group has published its first quarter of 2023 results, reporting a net income of $15.6 million and an improved combined ratio of 90.2%. In the same period last year, the insurer reported a net income of $16.3 million and a combined ratio of 91.9%. Gross written ... Read the full article
HCI grows income to $17.8 million in Q1
10th May 2023
HCI Group, a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, has reported net income of $17.8 million for the first quarter of 2023. The income figure represented an improvement on the $2.8 million that the company posted for the same period last year. Pre-tax income ... Read the full article
Greenlight Re sees Q1 GWP rise 27.8% as net income hits $5.9 million
10th May 2023
In its Q1 2023 results, Greenlight Re has reported that gross written premiums (GWP) increased 27.8% to $186.5 million, which the firm attributed to new opportunities and improved pricing on property and general liability business, as well as several new specialty contracts bound during the quarter. Greenlight Re's net income in ... Read the full article
“Q1 a demonstration of the quality of our book of business,” says Palomar CEO
9th May 2023
"The first quarter was a demonstration of the quality of our book of business and our ability to navigate the choppy waters of this hard reinsurance market," says Palomar Holdings CEO Mac Armstrong. Armstrong states that Palomar successfully placed $188 million of incremental excess of loss reinsurance limit during Q1 to ... Read the full article
Kemper reports smaller net loss in Q1’23
9th May 2023
Kemper Corporation has reported a net loss of $80.1 million for the first quarter of 2023, compared to a net loss of $86.3 million in Q1 2022. Total revenues for Q1 of 2023 decreased $75.3 million, or 5.5%, to $1,294.8 million, compared to the first quarter of 2022, mostly driven by ... Read the full article
MediaAlpha investment boosts White Mountains’s Q1 results
9th May 2023
Bermuda domiciled financial services holding company White Mountains Insurance Group has reported a “good” first quarter with a comprehensive income of $180 million for the first quarter of 2023, up from $31 million for the same period last year. According to the Group, these Q1 2023 results, as well as Q1 ... Read the full article
Hippo reports 59% YoY growth in total generated premium in Q1’23
9th May 2023
Home insurer Hippo has announced total generated premium (TGP) growth of 59% YoY to $245 million in first-quarter of 2023, compared to $154 million a year ago. At the same time, net earned premium for the quarter was $13.8 million, a shift from $9 million from the prior year’s quarter. In addition, ... Read the full article
Corebridge Financial reports $459m net loss in Q1
9th May 2023
Corebridge Financial has reported a $459 million net loss for the first quarter of 2023, representing a 114% decrease compared to the same period last year. The company states that the change was largely driven by realized losses recorded for the Fortitude Re funds withheld embedded derivative. At the same time, net ... Read the full article
Argo reports a combined ratio of 108.1% for Q1 2023
9th May 2023
Argo Group International Holdings, Ltd. has reported its financial results for Q1 of 2023, a combined ratio of 108.1% which has increased by 13.1% points, driven by a higher loss ratio. The loss ratio of 73.0% increased by 14% points, compared to 59.0% in Q1 2022. The company saw reduced catastrophe ... Read the full article
Berkshire Hathaway P&C reinsurance premiums soar 30% in Q1 2023
6th May 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong quarter of growth for its property and casualty (P&C) reinsurance operations, with premiums written rising by 30% in the period, with the inclusion of TransRe a significant driver of that growth. However, at the same time, Berkshire Hathaway's ... Read the full article
Heritage posts net income in Q1’23 vs year-ago net loss
5th May 2023
Super-regional property & casualty insurance holding company, Heritage Insurance Holdings, Inc., has reported net income of $14.0 million in the first-quarter of 2023, up from a net loss of $30.8 million in the prior year quarter primarily due to higher net earned premium and significantly lower weather losses. At the same ... Read the full article
China Re sees significant net income growth in Q1 2023, raises capital
5th May 2023
China Reinsurance Group (China Re), the country’s largest reinsurer, has published its first quarter of 2023 results, reporting an increased net profit of RMB 1,235 million and a combined ratio - at its own level - of 103.35%. In the same period last year, the Group reported RMB 463 million in ... Read the full article
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