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.
The Hanover reports higher net income, improved combined ratio in Q4
4th February 2021
The Hanover Insurance Group, Inc. has reported a rise in net income for the fourth-quarter of 2020 to $164.6 million, while operating income also improved in the period, year-on-year, to $112 million. The difference in Q4 net and operating income, which grew by $54.8 million and $31.8 million, respectively, was primarily ... Read the full article
Hannover Re reports average price increase of 5.5% at Jan 1st renewals
4th February 2021
Reinsurer Hannover Re has reported an average price increase of 5.5% on renewed business at the January 1st, 2021 renewals, as the firm booked premium growth in traditional property and casualty reinsurance of 8.5%. According to Hannover Re, the pricing trend witnessed at 1/1 was driven by the substantial burden of ... Read the full article
Markel income drops by $1bn on investment hit
3rd February 2021
Financial holding company Markel Corporation has reported a $1 billion drop in its net income for 2020, which stood at $797.6 million at the end of the year, versus $1.790 billion in 2019. The difference is almost entirely attributable to a corresponding $1 billion drop in net investment gains, which totaled ... Read the full article
Chubb’s Q4 net income rises to $2.42bn
3rd February 2021
Global re/insurer Chubb has reported a 2020 fourth quarter net income of $2.42 billion, up from $1.17 billion in the prior year quarter. Meanwhile, core operating income was $1.44 billion versus $1.04 billion prior year. Q4 pre-tax catastrophe losses were $314 million compared with $430 million in the prior year period. P&C underwriting ... Read the full article
Kemper’s Q4 income slumps to $98mn
2nd February 2021
US insurer Kemper has reported that it’s net income in the fourth quarter of 2020 was $97.5 million, representing a 22% decrease on the $124.7 million it reported for the same period in 2019. Looking at the full year, Kemper’s 2020 income similarly dropped 23% from $531.1 million to $409.9 million. The ... Read the full article
Kingstone reports $1.2mn Q4 cat loss, names Scott Van Pelt CFO
2nd February 2021
Property and casualty insurer Kingstone incurred net pre-tax catastrophe losses of $1.2 million in the fourth quarter of 2020. Cat losses for the quarter comprised four events at an estimated gross cost of $1.5 million. The company has also appointed Scott Van Pelt to its senior management team as Chief Financial Officer. Van ... Read the full article
Gallagher reports $153mn Q4 net earnings
29th January 2021
Re/insurance broker Arthur J. Gallagher & Co. has reported fourth quarter net earnings of $153.1 million, up from $105.6 million in the prior year quarter. The company's brokerage segment also saw a rise during the final quarter of 2020, reaching $157.7 million against $118.7 million. For the full year, Gallagher's reported net ... Read the full article
Selective increases Q4 revenue by 10%
29th January 2021
Selective Insurance has reported total revenue of $798.4 million during the fourth quarter of 2020, representing a 10% increase on the same period in the previous year. Looking at the whole of 2020, Selective’s revenues were similarly up 3% to $2.92 billion. The company also recorded 8% growth in net premiums written ... Read the full article
Guy Carpenter growth buoys Marsh & McLennan results
28th January 2021
Marsh & McLennan Companies, Inc. (MMC) has reported full-year revenue growth of 3% over 2020, helped by revenue growth of 7% in its reinsurance broking arm, Guy Carpenter. MMC’s revenue for Q4 was $4.4 billion, bringing its total for the year to $17.2 billion. This compares with revenue of $4.3 billion ... Read the full article
RLI grows Q4 earnings
28th January 2021
US property and casualty insurer RLI Corp. has announced that its net earnings in the fourth quarter of 2020 totaled $83.8 million, compared to $53.4 million for the same period last year. However, looking at the full year, earnings slumped to $157.1 million, down 18% from the $191.6 million it reported ... Read the full article
AXIS Capital reports $5mn net loss for Q4
28th January 2021
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has reported a net loss of $5 million and an operating loss of $16 million for the fourth-quarter of 2020. The net result is an improvement on the $10 million net loss posted by the firm for the same period in 2019, while ... Read the full article
Howden records organic growth of 6% in 2020
27th January 2021
International insurance broker Howden has recorded revenue of £777 million in 2020, representing an increase of 7% compared with the previous year, or 6% on an organic growth basis. Howden attributed the growth to strong performance across all of its business units, despite the “extraordinary market conditions” that the industry faced ... Read the full article
W. R. Berkley posts strong Q4, net income hits $312mn
27th January 2021
Insurance holding firm W. R. Berkley recorded an all-time record net income of $312.2 million in the fourth quarter of 2020, driven by a 9% growth in gross premiums written. Net investment income grew 32%, despite a defensive position in fixed-maturity securities, where the company maintains a relatively short duration and ... Read the full article
RenRe falls to Q4 operating loss; expects increased profitability
27th January 2021
Bermuda-based reinsurance company, RenaissanceRe Holdings Ltd. (RenRe), has reported an operating and underwriting loss for the fourth-quarter of 2020 amid losses from both weather-related events and the COVID-19 pandemic. For the final quarter of 2020, RenRe has reported net income of $189.9 million, compared to $33.8 million for the same period ... Read the full article
Everest Re announces Q4 CAT and COVID-19 losses
26th January 2021
Bermuda-based insurer and reinsurer, Everest Re Group, Ltd., has announced estimated pre-tax net catastrophe losses of $70 million for the fourth-quarter of 2020, alongside an additional $76 million of losses related to the COVID-19 pandemic and a $400 million reserve charge. Despite these losses, of which the majority is within the ... Read the full article