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.
AXIS reports net income of $143m with improved combined ratio in Q2 2023
2nd August 2023
AXIS Capital Holdings Limited has announced its financial results for the second quarter of 2023, reporting an improved net income of $143 million, which compares to the $27 million seen in the same period last year. The firm's underwriting experience also improved in the period, with AXIS reporting a combined ratio ... Read the full article
PartnerRe reports H1 2023 combined ratio of 83.5% as net income swells
2nd August 2023
Bermuda-based reinsurer PartnerRe Ltd. has reported a first-half 2023 combined ratio of 83.5%, with a non-life underwriting result of $466 million, contributing to a significant year-on-year rise in net income for the period. All in all, PartnerRe has reported H1 2023 net income of more than $787 million, a stark improvement from ... Read the full article
Allstate sees Q2 net loss of $1.4bn driven by heavy cat losses of $2.7bn
2nd August 2023
Allstate Corporation has reported a Q2 net loss applicable to common shareholders of $1.4 billion, chiefly driven by increased underwriting losses due to a massive catastrophe hit, which totalled $2.7 billion for the quarter. Compared, Allstate's catastrophe losses in Q2 last year were $1.1 billion, marking a substantial increase of 143.3% ... Read the full article
AIG reports solid Q2 despite elevated cat experience in general insurance business
2nd August 2023
Large primary insurer AIG has reported a rise in adjusted pre-tax income within its general insurance business of 5% to $1.32 billion for the second-quarter of 2023, as higher investment income offset slightly lower underwriting profit as a result of elevated catastrophe losses and lower favourable prior year development, net ... Read the full article
United Fire Group estimates $33m cat losses in Q2
1st August 2023
US property and casualty insurer, United Fire Group (UFG), has reported its estimates for the second quarter of 2023 results which include pre-tax catastrophe losses of $33 million. The company expects a net loss of $2.23 per diluted share, and an adjusted operating loss of $2.27 per diluted share. The preliminary ... Read the full article
Conifer Holdings expecting Q2 loss due to recent storms
31st July 2023
Conifer Holdings, a specialty insurance holding company, has said that it expects pre-tax catastrophe losses of about $5.4 million in the second quarter of 2023. The firm stated that the losses stemmed predominantly from multiple convection storms that largely impacted Oklahoma and Texas in the quarter ended June 30. As a result, ... Read the full article
Aon sees opportunities in facultative reinsurance for H2: Andersen
31st July 2023
In a recent Q2 earnings call, Aon President Eric Andersen shed light on the shifting landscape of the reinsurance market and emphasised the increasing significance of facultative reinsurance in the second half of the year. Clients, faced with the evolving reinsurance market, are making their own decisions, leading to alterations in ... Read the full article
CNA Financial net income rises to $283m in Q2 2023
31st July 2023
Chicago-based insurer CNA Financial Corporation has reported a 49% increase in net income, to $283 million, for the second quarter of 2023, which compares with $190 million reported in the prior year quarter. Core income for the quarter was $374 million, versus $317 million in the prior year quarter, which according ... Read the full article
Universal Insurance reports improved combined ratio as net income rises in Q2
28th July 2023
Universal Insurance Holdings has reported a Q2 2023 combined ratio of 99.1%, 1.8 points lower than in Q2 2022 which stood at 100.9%. For the quarter, the combined ratio consists of a 73.5% loss ratio and a 25.3% expense ratio, compared with 72.3% and 28.6%, respectively, a year earlier. The company’s direct ... Read the full article
Aon’s Reinsurance Solutions delivers 9% organic revenue growth in Q2’23
28th July 2023
Global broker Aon’s Reinsurance Solutions arm achieved organic revenue growth of 9% in the second quarter of 2023, as revenue across the group increased by 5%, year-on-year, to $3.2 billion, reflecting organic revenue growth of 6%. This growth in organic revenue in the reinsurance arm was driven by strong retention and ... Read the full article
Gallagher’s Q2’23 net earnings reach $235.8m
28th July 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported net earnings of $235.8 million for the second quarter of 2023, compared with $285.1 million a year earlier. Gallagher's Company-wide, adjusted net earnings increased from $349.7 million in Q2 2022 to $417.0 million in Q2 2023. Within its brokerage business, ... Read the full article
MAPFRE RE sees premiums grow 11.5% in H1 2023
28th July 2023
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums, which include the reinsurance and large risks business, grew 11.5% in H1 of 2023 surpassing €4.1 billion. The reinsurer also reported €140 million in losses related to the earthquake in Turkey, which has been the main relevant Nat ... Read the full article
Cincinnati Financial posts $534m net income in Q2 results
28th July 2023
Cincinnati Financial Corporation has posted a net income of $534 million for the second quarter of 2023, a substantial rise compared with the $818 million net loss the company recorded in the second quarter of 2022. The rise comes in addition to the company recognizing a $363 million second ... Read the full article
Donegal Group posts $2 million net income in Q2’23
27th July 2023
US primary holding company Donegal Group posted a net income of $2.0 million, compared to a net loss of $8.2 million in the prior year quarter. Net premiums earned increased 5.9% to $216.3 million, compared to $204.1 million from Q2'22. At the same time, net premiums written were $226.5 million, a 3.7% ... Read the full article
Goosehead Insurance sees net income swell to $7.2m in Q2
27th July 2023
Goosehead Insurance has disclosed that net income in Q2 was $7.2 million, a vast improvement from $2.4 million in the same quarter last year, which the firm said is due to strong revenue growth and expense discipline. Goosehead's Total Revenues in Q2 grew 31% from the same period last year to ... Read the full article
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