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.
Liberty Mutual sees $585m net loss in Q2, cat losses more than double to $2.27 billion
10th August 2023
Liberty Mutual Holding Company and its subsidiaries (LMHC) have reported their results for the second quarter of 2023 and the first half of 2023, posting a net loss attributable to LMHC of $585 million and $660 million for Q223 & H123, compared to net loss' attributable to LMHC of $343 ... Read the full article
Lancashire expects positive rate environment to persist as H1 2023 GPW rises 26%
10th August 2023
Bermuda-based Lancashire Holdings Limited has reported a 26.2% rise in gross premiums written (GPW) for the first half of 2023 driven by growth in both its reinsurance and insurance segments, as the firm highlights a positive rate environment which it expects to persist through the remainder of the year. Across its ... Read the full article
Maiden Holdings sees $2.9m net loss in Q2 2023
10th August 2023
Bermuda-based Maiden Holdings has reported a net loss of $2.9m for the second quarter of 2023 and an operating income of $4.5m, as well as an underwriting loss of $9.3m in both the AmTrust Reinsurance and Diversified Reinsurance segments. These figures compare with net income of $25.8m for the second quarter ... Read the full article
Munich Re posts H1 profit of €2.4bn, “on track” to achieve annual target
10th August 2023
Munich Re generated a profit of €2.4bn in H1 of 2023, higher than half of its full year guidance of €4bn, as the firm remains "on track" to achieve its annual target. The firm explained that the higher result during H1 of 2022 was attributable to lower unwinding-of-discount effects and lower ... Read the full article
Kin’s Q2’23 GWP soars to $109.7 million, marking 55% year-on-year increase
10th August 2023
Kin Insurance has reported a gross written premium (GWP) of $109.7 million for the second-quarter of 2023, up 55% from the year-ago $70.8 million. Kin’s positive operating income nearly doubled to $8.6 million in the second quarter of 2023, driven by disciplined expense management and an ever-increasing renewal base. Kin’s premium renewal ... Read the full article
Vast majority of portfolio is rate adequate, reflecting strong financial position: Hiscox CUO
9th August 2023
In a recent earnings call, Joanne Musselle, Group Chief Underwriting Officer (CUO) of international specialist insurer Hiscox, highlighted the company's satisfaction with the current state of their portfolio's rate adequacy. "Just as a reminder, we've been in a hardening rate market for now five years. We've seen substantial rate increases ... Read the full article
Sompo International sees underwriting income growth in Q1 2023
9th August 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has reported its first quarter of 2023 financial results, which saw an increased underwriting income of $150m, compared to the same period last year. This 27% increase, according to the re/insurer, was due to overall top-line growth and ... Read the full article
Generali posts €42.2 billion GWP in H123, combined ratio hits 91.6%
9th August 2023
Italy-headquartered insurer Generali has reported that gross written premiums (GWP) increased to €42.2 billion (+3.6%), in the first half of 2023, with the insurer noting that this was driven by significant P&C growth (+10.6%). Generali's operating result grew by 28% to reach €3,721 million, which was heavily contributed by the diversification ... Read the full article
Suncorp’s FY23 profit rises despite nat cats exceeding budget by $97 million
9th August 2023
Australian primary insurer Suncorp has reported a nearly 69% increase in net profit to $1,148 million for fiscal year 2023, despite natural hazard costs exceeding budget in the period by $97 million. Total natural hazard costs for the year came out at $1.257 billion, Suncorp said, but for the next fiscal ... Read the full article
HCI Group posts Q2’23 net income vs year-ago loss
9th August 2023
Florida-based insurtech HCI Group has reported a net income of $14.9 million in the second quarter of 2023, compared to a net loss of $8.5 million in the second quarter of 2022. Adjusted net income was $14.2 million for the quarter, compared to an adjusted net loss of $5.4 million in ... Read the full article
Heritage posts 95.1% net combined ratio in Q2, while GPW rises to $396.6m
9th August 2023
Heritage Insurance Holdings, a super-regional property and casualty insurance holding company has released its results for the second quarter of 2023, which includes a net combined ratio of 95.1%, an improvement of 4.3 points from 99.4% in the prior year quarter. According to Heritage, the combined ratio figure was driven by ... Read the full article
Hannover Re’s H1 reinsurance revenue climbs 3.9% to €12.3bn
9th August 2023
Global reinsurer Hannover Re has reported that H1 reinsurance revenue increased by 3.9% to €12.3 billion, as large losses within the P&C reinsurance segment fell within the budgeted expectations. Hannover Re's H1 2023 reinsurance service result, which reflects the profitability of underwriting activity less business ceded, surged by 56% to €1.1 ... Read the full article
Hippo reports 56% YoY growth in total generated premium in Q2’23
8th August 2023
Home insurer Hippo has announced total generated premium (TGP) growth of 56% YoY to $318 million in the second-quarter of 2023, compared to $204 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 ... Read the full article
James River posts $427m GWP, while net income soars in Q2 results
8th August 2023
James River, a Bermuda-based insurance holding company has reported a gross written premium (GWP) of $427.7 million for the second quarter of 2023, a 7% rise from last year's $399.7 million. GWP for the firm's Specialty Admitted Insurance segment increased 9.6% from the prior year quarter, which included a 11.0% increase ... Read the full article
Kemper to exit preferred home/auto market, reports $16.9mn Q2 operating loss
8th August 2023
US insurer Kemper Corporation has announced it is exiting the preferred home and auto insurance market, while also reporting an improved net operating loss of $16.9m in the second quarter of 2023, compared to the $37.2m reported in the same period last year. Kemper’s exit of its preferred business will enable ... Read the full article
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