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.
Ping An’s P&C unit posts 7.8% growth in H1’23
30th August 2023
Chinese insurer Ping An's P&C unit reported a growth of 7.8% year on year in insurance revenue to RMB 155,899 million in the first half of 2023. The company said the unit maintained good business quality with steady growth in insurance revenue. Overall underwriting combined ratio remained healthy at 98.0% due ... Read the full article
VIG’s H1 GWP increase 10.8% to €7.3bn as all segments see growth
30th August 2023
Vienna Insurance Group (VIG) has reported that gross written premiums increased to €7.3 billion in H1, up by 10.8% compared to the same period last year. According to VIG, all reportable segments showed premium growth compared to H1 of the previous year, with Poland, Extended CEE and Special Markets segments "performing ... Read the full article
Fidelis sees H1 GWP grow 27% to $2.2bn as combined ratios drops to 80.6%
23rd August 2023
In its 2023 H1 results, Fidelis Insurance Group reported gross premiums written of $2.2 billion, marking a growth of 27% from H1 last year, while the combined ratio also improved to 80.6%. For Q2 alone, Fidelis said that gross premiums written grew 25.3% to $957.2 million, while the combined ratio was ... Read the full article
Aspen’s reinsurance arm sees 16% drop in H1’23 premiums, underwriting income improves
22nd August 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, has reported a 16% decrease in gross written premiums for its reinsurance segment for the first six months of 2023, while underwriting income rose. Gross written premiums (GWP) for H1'23 was $876 million for the reinsurance segment, compared to $1.05 billion in 2022, primarily ... Read the full article
HDI Global SE’s insurance revenue rises by 10% in H123
22nd August 2023
The industrial insurer HDI Global SE part of the Talanx Group has reported that insurance revenue rose by a clear 10% to €4.2 billion in the first half of the year, compared to €3.8 billion from the same period last year. According to the firm, this solid performance was partly due ... Read the full article
IAG sees GWP rise 10.6% to $14.7bn in its FY results
21st August 2023
Australian insurer IAG has reported that Gross Written Premium (GWP) increased 10.6% to $14.7bn in its 2023 full year results, while insurance profit rose 37% to $803m. IAG noted that while the GWP increase was primarily due to premium rises in response to inflation pressures and higher reinsurance and natural perils ... Read the full article
Steadfast posts 24.1% increase in underlying revenue in FY23
17th August 2023
Steadfast Group, the parent company to a range of broking and underwriting operations, including broker Steadfast Re, has reported an underlying revenue of $1.41 billion in FY23, representing growth of 24.1%. The growth in revenue was driven by hardening market and solid volume growth more than mitigated expected cost increases flagged ... Read the full article
IRB (Re) posts underlying profit in Q2’23 vs year-ago loss
16th August 2023
Brazilian reinsurance company IRB (Re), which was formerly named IRB Brasil Re, has reported an underwriting profit of R$35.4 million for the second quarter of 2023, compared with an underwriting loss of R$661.0 million in the second quarter of 2022. The reinsurer posted a net income in Q2'23 of R$20.1 million, ... Read the full article
Aviva sees operating profits rise 8% in H1’23
16th August 2023
In its interim results for 2023, Aviva reported that its operating profit rose by 8% to £715 million in the first half of the year. The firm marked the increase from the same point in 2022 when operating profits stood at £661 million. Aviva reported that General Insurance gross written premiums (GWP) ... Read the full article
L&G reports £942m operating profit in H1 2023
16th August 2023
Legal & General (L&G) has announced a “resilient financial performance” in the first half of 2023, with operating profit and after-tax profit hitting £941 million and £316 million respectively. These figures compare to H1 2022 operating profit and after-tax profit of £958 million and £575 million respectively. “We remain on track to ... Read the full article
IGI sees net income increase 84.1% to $40.5m in Q2
16th August 2023
International General Insurance Holdings Ltd. (IGI) has reported that net income in Q2 increased 84.1% to $40.5 million, with a combined ratio of 73.5%, as the firm continued to benefit from sustained hard market conditions in many of its reinsurance and short-tail lines, and a "more favourable investment environment." IGI explained ... Read the full article
Oxbridge Re posts Q2’23 net loss vs year-ago net income
15th August 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a net loss of $85,000 in the second-quarter of 2023, compared to net income of $77,000 in the second quarter of 2022. The company stated that the loss in the quarter is primarily due to ... Read the full article
QIC posts 181% rise in net profit in H1’23
15th August 2023
Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has reported a net profit of QAR 325 million for the first half of 2023, rising 181% from the same period in 2022. "Throughout the first half of this year, QIC has maintained its strategic focus on expanding ... Read the full article
Hallmark anticipates Hawaii wildfires net loss exposure to be $7.5m
15th August 2023
"Due to the Maui, Hawaii wildfires on August 9, we preliminarily estimate our net loss exposure to be $7.5 million plus additional cost in the form of reinstatement premiums to restore any necessary reinsurance layers," Hallmark Financial has said amid its Q2 results. The wildfire outbreaks in Hawaii have caused mass ... Read the full article
Saudi Re Q2’23 net profit surges, cites improved reinsurance performance
14th August 2023
Saudi Re has reported a net profit before zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 66.02 million for Q2 of 2023, a 1133% increase from the same quarter last year. Gross Written Premiums decreased 54.49% from Q2 2022 to SAR 146.3 million ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
