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.
Ryan Specialty sees Q1 total revenue grow 18.3% YoY to $457.6 million
5th May 2023
Ryan Specialty Holdings has disclosed that its total revenue grew 18.3% to $457.6 million in Q1 of 2023. According to the firm, this increase was primarily due to organic revenue growth of 12.9%, which was driven by new client wins and expanded existing relationships, growth of the E&S market, revenue from ... Read the full article
AIG reports a GI combined ratio of 91.9% for Q1
5th May 2023
AIG has released strong Q1 financial results for 2023, with its General Insurance segment posting a combined ratio of 91.9%, improving by 1.0 points from the prior year quarter. The accident year combined ratio, ex-CAT, was 88.7%, so a 100-basis point and 80-basis point improvement, respectively, from the previous year's ... Read the full article
RGA reports Q1 net income of $252 million as net premiums jump 7.3%
5th May 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has reported Q1 net income available to RGA shareholders of $252 million, compared with $197 million in the prior-year quarter. RGA's adjusted operating income for Q1 2023 totalled $349 million, significantly higher than the $283 million disclosed in the same quarter ... Read the full article
Specialty insurance business Fortegra drives Q1’23 revenue growth at Tiptree
4th May 2023
Holding company Tiptree has reported a substantial increase in revenues for Q1 2023, with growth driven to a large degree by the company’s global specialty insurance subsidiary, Fortegra. Revenues increased by 17.5% to $381.6 million thanks to growth in the insurance business. This was partially offset by declines in the mortgage ... Read the full article
Enstar posts net earnings in Q1’23 vs year-ago loss
4th May 2023
Enstar Group reported a net earnings of $424 million in the first-quarter of 2023, compared to net loss of $267 million in Q1 2022. Return on equity (ROE) was 9.5% in Q1 of 2023, compared with (4.6)% the previous year, while adjusted ROE was 6.8% for the quarter compared to (1.1)% ... Read the full article
Selective Insurance posts 67% rise in Q1’23 net income
4th May 2023
Selective Insurance has reported income of $90.3 million for the first quarter of 2023, compared to $54.0 million in Q1'22, helped by strong growth in both net written premiums (NPW) and investment income. Selective Insurance Group reported for Q1, overall NPW increased 12% from a year ago, and growth was strong ... Read the full article
Lemonade reports a loss ratio of 87% in Q1 2023
4th May 2023
Lemonade has released its Q1 2023 financial results. Despite persistent inflation and the heightened frequency of severe weather events, the company said it has moved in the right direction this year. The company’s In Force Premium (IFP) has topped at $653 million i.e. a 56% or $234 million increase from last ... Read the full article
Palomar Holdings reports significant GWP growth amid high cat losses
4th May 2023
Specialty insurer Palomar Holdings has published its first quarter 2023 results reporting a net income of $17.3 million, a 46.3% increase in gross written premiums (GWP) and a combined ratio of 77.9%. This first quarter the company’s net income was up 19% compared to Q1 2022, when Palomar reported a net ... Read the full article
Lancashire Holdings CEO expects aviation portfolio growth by year end
4th May 2023
Alex Maloney, the Chief Executive Officer (CEO) of Lancashire Holdings Limited, expects the re/insurer's aviation portfolio to grow by the year end. “We're overall pretty confident that we'll be able to grow our aviation portfolio at the end of the year,” Maloney said in Lancashire's recent first-quarter earnings call. He explained that ... Read the full article
SiriusPoint reinsurance segment aids improved Q1 result
4th May 2023
Global specialty re/insurer SiriusPoint has reported net income of $139 million for the first quarter of 2023 on a core combined ratio of 80.5%, helped by a significant improvement in the performance of its reinsurance segment. The company’s Q1 income this year represents a $358 million increase over last year’s ... Read the full article
Allstate reports Q1 net loss driven by catastrophe hit of $1.69 billion
4th May 2023
U.S. primary insurer Allstate Corporation has reported a net loss of $346 million in Q1 of this year, compared to a net income of $634 million in the same quarter of 2022. Allstates Q1 2023 results were cuffed by overall catastrophe losses of $1.69 billion. According to the firm, catastrophe losses ... Read the full article
Hiscox sees attractive rates across all segments as written premiums hit $1.4bn
4th May 2023
Specialist insurer and reinsurer Hiscox has announced that net insurance contract written premiums (ICWP) increased by 7.4% to $1.42 billion in Q1 2023, as the carrier highlights an attractive rate environment across all business segments. In its Q1 2023 trading statement, Hiscox highlights a favourable rate environment, with particularly attractive rates ... Read the full article
Global InsurTech funding rises by 37.6% in Q1 2023: Gallagher Re
4th May 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter's lowest total since Q1 2020. While the deal count remained steady, the average deal ... Read the full article
Swiss Re hails robust price improvements as Q1 net income hits $643m
4th May 2023
Swiss Re, one of the world's largest reinsurance companies, has today reported net income of $643 million for the first quarter of 2023 compared with a loss of $248 million a year earlier, as the firm's property and casualty (P&C) reinsurance combined ratio improved despite elevated nat cat activity. Group-wide, net ... Read the full article
Step change in property reinsurance will be ‘reasonably persistent’, says RenRe CEO
3rd May 2023
The President and Chief Executive Officer (CEO) of Bermuda-based reinsurer RenaissanceRe (RenRe), Kevin O'Donnell, expects the supply demand imbalance in property reinsurance to continue as concerns around climate change and elevated losses from natural disasters persist. Speaking recently during the firm's Q1 2023 earnings call, O'Donnell addressed the current reinsurance market ... Read the full article
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