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.
Cat bond a key addition to risk management strategy: Conduit Re CEO Carvey
27th July 2023
In the earnings call held yesterday, Conduit Re's CEO Trevor Carvey shared insights into the company's risk management strategy, shedding light on their consideration of cat bonds as an additional layer of protection. Carvey stated that while they have been comfortable with their existing retrocession, they are keen on exploring alternatives ... Read the full article
WTW posts 7% organic growth in Q2’23
27th July 2023
Re/insurance broker WTW has posted 7% organic revenue growth for the second quarter of 2023, as total revenues increased by 6% to $2.16 billion. WTW saw net income decline by 16%, from $114 million to $96 million, while income from operations rose by 4% from $137 million to $142 million. The Risk ... Read the full article
Beazley reports strong growth in H1 2023 on the back of “excellent” property market conditions
27th July 2023
Specialist insurer Beazley has reported robust growth in the first half of 2023, reporting a 13% increase in gross premiums written (GPW) to $2.9 billion. Alongside strong GPW growth, Beazley has announced a significant rise in net premiums written (NPW) for the period of 28% to approximately $2.3 billion. Much of the ... Read the full article
Arch Capital reports strong growth in reinsurance in Q2 as underwriting profit swells
27th July 2023
Bermuda headquartered re/insurer Arch Capital Group Ltd. has reported strong growth in its reinsurance business in the second-quarter of 2023, as the segment's underwriting result improved by 75% to $245 million with a combined ratio of 81.9%. During the quarter, Arch Capital's reinsurance segment, Arch Re, witnessed gross premiums written (GPW) ... Read the full article
SCOR reports refined Q2 P&C combined ratio of 88.5%
27th July 2023
French reinsurer SCOR has reported an improved Q2 P&C combined ratio of 88.5%, down from 113.1% in the same quarter last year, while net income generated was up at €192 million. The net income figure implied an annualised ROE of 16.9% in Q2 2023, and contributed to a net income of ... Read the full article
Everest reports record quarterly reinsurance growth with GWP of $2.8bn
27th July 2023
Bermuda based insurer and reinsurer Everest Group has reported gross written premiums (GWP) growth of 26.9% to almost $2.8 billion in its reinsurance segment in Q2, which is a new quarterly premium record for the segment. Growth within the reinsurance segment was broad-based across geographies and business lines, driven by 34.7% ... Read the full article
Conduit Re’s strong pricing and terms drive promising growth opportunities in H1’23
26th July 2023
In the first half of 2023, Conduit Re's pricing levels and favourable terms and conditions improved significantly, driving increased interest from potential clients and presenting promising avenues for expansion. An essential factor contributing to Conduit Re's prosperity was the risk-adjusted rate change, net of claims inflation, for the six months ending ... Read the full article
RenRe secures $350.5 million for cat bond strategies in Q2 2023
26th July 2023
RenaissanceRe (RenRe), the Bermuda headquartered global reinsurance firm and third-party capital management specialist, has reported raising $350.5 million of third-party capital largely for catastrophe bond strategies during the second-quarter of 2023. The company said it has raised $170.5 million from investors for its Medici fund strategy, and also raised a further ... Read the full article
Conduit Re reports 83.1% combined ratio for H1, gross premiums written grows by 52.9%
26th July 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, reported an 83.1% combined ratio for the six months ended 30 June 2023, a 22.7-point improvement from a year-ago period, as it expanded gross premiums written by 52.9% into the current insurance hard market. Gross premiums written for H1 ... Read the full article
RenRe reports combined ratio of 80.3% amid return to profit in Q2 2023
26th July 2023
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has announced a combined ratio (CR) of 80.3% for Q2 2023, with underwriting income of $352 million, a slight improvement on the $316 million reported a year earlier. Compared year-over-year, the CR increased slightly from 78.3% in Q2 2022, as an improvement in the casualty ... Read the full article
Chubb reports “record” Q2 as net income jumps 50.7% to $1.79bn
26th July 2023
Chubb has reported that Q2 net income jumped 50.7% to $1.79 billion compared to the same quarter last year, while P&C underwriting income was $1.43 billion with a combined ratio of 85.4%, in what Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb described as, "another simply outstanding quarter." Chubb's ... Read the full article
Selective Insurance reports preliminary Q2 combined ratio of 100.2%
26th July 2023
Selective Insurance Group, Inc. expects a preliminary Q2 2023 combined ratio of 100.2%, which includes catastrophe losses of 10.6 points and net prior year favourable casualty reserve development of 0.4 points. The firm predicts pre-tax net catastrophe losses totalling approximately $100 million. Every underwriting segment was impacted this quarter. Net cat ... Read the full article
Ivans Index shows increase in premium renewal rates in Q2
25th July 2023
Ivans, a division of Applied Systems, has reported renewal rate change for all major commercial lines of business except Workers’ Compensation and Umbrella are up year over year, the second quarter of 2023. According to Ivans, Q223 experienced an increase in average premium renewal rate change across Commercial Auto, BOP, Commercial ... Read the full article
Brown & Brown sees revenue and income growth in Q2 results
25th July 2023
US broker firm Brown & Brown has announced its financial results for the second quarter of 2023, reporting a revenue growth of 24.7%, $1,047.3m, compared to the same period last year. Notably, organic revenue increased by 11.2%, to $894.3m. Income before income taxes was $254.4m, increasing 28.0% from the second quarter ... Read the full article
RLI reports Q2 net earnings of $78m as investment income jumps 55.8%
25th July 2023
RLI Corp. has reported Q2 2023 net earnings of $77.7 million, compared to a net loss of $2.2 million for the same quarter of 2022. RLI disclosed that it achieved $41.2 million of underwriting income in Q2 of 2023 on an 87.2 combined ratio, compared to $56.0 million on an 80.2 ... Read the full article
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