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.
Corebridge Financial reports 70% fall in Q2’23 net income
4th August 2023
Corebridge Financial has reported a net income of $771 million in the second quarter of 2023, representing a 70% decrease compared to the prior year quarter. The change largely was driven by lower realised gains recorded for the Fortitude Re funds withheld embedded derivative, partially offset by higher net investment income ... Read the full article
Fairfax Financial sees net earnings increase in Q2 2023 with improved CR
4th August 2023
Fairfax Financial Holdings Limited has announced its financial results for the second quarter of 2023 reporting net earnings of $734.4 million, compared to a net loss of $32.0 million in the second quarter of 2022. "During the second quarter we continued to build on our great start to 2023, with our ... Read the full article
Ryan Specialty sees 19.5% increase in net income in Q2
4th August 2023
Ryan Specialty Holdings Inc., a leading international specialty insurance firm has recorded a $83.8 million net income for the second quarter of 2023, a 19.5% increase from last year's $70.1 million. According to the firm, the increase was mostly driven by strong year-over-year revenue growth, lower IPO related charges, which were ... Read the full article
Swiss Re’s P&C combined ratio strengthens as net income rises to $1.4bn
4th August 2023
Global reinsurance giant Swiss Re has reported a significant rise in net income to $1.4 billion for the first half of 2023, driven by contained natural catastrophe losses, and a solid performance in all business segments during the period. Group-wide, net income rose substantially from the $157 million recorded in H1 ... Read the full article
Selective Insurance sees 17% rise in NPW in Q2 results
3rd August 2023
Selective Insurance Group has posted $1,084 billion in net premiums written for the second quarter of 2023, representing a 17% increase from $930.7 million from the previous year's quarter. The firm also recorded a 100.2% combined ratio for the quarter, compared to 95.5% a year ago. In their preliminary results for ... Read the full article
Markel returns to profit in 2023 as earned premiums grow 11%
3rd August 2023
Markel Group Inc. has reported a return to profit for the second quarter and half year periods of 2023, while its combined ratio of 93% for the quarter deteriorated somewhat from the 91% seen a year earlier, which the firm attributes to a higher attritional loss ratio. Alongside the still solid ... Read the full article
Palomar Holdings sees GWP and net income growth in Q2
3rd August 2023
Specialty insurer Palomar Holdings has published its second quarter 2023 results reporting a net income of $17.6 million, a 25.4% increase in gross written premiums and a combined ratio of 79.0%. This first quarter the company’s net income was up 20% compared to Q1 2022, when Palomar reported a net income ... Read the full article
American Financial Group posts nearly 20% rise in Q2’23 net income
3rd August 2023
American Financial Group, Inc. (AFG) has reported a net income of $200 million for the second-quarter of 2023, compared to $167 million in Q2 2022. In Q2, AFG’s net earnings included after-tax non-core net realized losses on securities of $1 million and a $1 million loss on retirement of debt. By comparison, ... Read the full article
The Hanover posts $69.2m net loss for Q2, despite solid performance from Specialty segment
3rd August 2023
The Hanover Insurance Group has recorded a net loss of $69.2 million in the second quarter of 2023, compared to net income of $22.7 million in the prior-year quarter. Operating loss for the quarter was $68.3 million, compared to operating income of $83.9 million in the previous year's quarter. At the same time, The ... Read the full article
Enstar sees Q2 net earnings of $21m compared to net loss a year ago
3rd August 2023
Enstar Group Limited has disclosed Q2 net earnings of $21 million, up substantially compared to a net loss of $434 million in the same period last year. Combined with Q1, net earnings for the first half a year now stand at $445 million, much improved compared to a net loss of ... Read the full article
SiriusPoint reports improved Q2 2023 combined ratio as reinsurance segment returns to profit
3rd August 2023
Bermuda-based SiriusPoint Ltd. has announced a Q2 2023 consolidated combined ratio of 81.9%, showing almost a 14% improvement year over year, as consolidated underwriting income rose from $38.8 million to $127.3 million. On a core basis, non-GAAP financial measures, the combined ratio improved to 87.7% from 98.3% a year earlier. The ... Read the full article
Greenlight Re reports Q2 net income of $49.9m as GWP increase 15%
3rd August 2023
Greenlight Re has reported that net income in Q2 was $49.9 million, up from $14.8 million in the same quarter last year, while gross premiums written increased 15% to $154.9 million. According to Greenlight Re, the $20.2 million increase in GWP relates primarily to new opportunities, improved property and general liability ... Read the full article
AXA XL’s combined ratio strengthens to 90.9% in H1 2023 as premiums rise
3rd August 2023
French insurer AXA has today announced a year-on-year rise in total gross written premiums (GWP) and other revenues of 2% to €55.7 billion for the first half of 2023, driven by 7% growth at AXA XL, its property and casualty (P&C) and specialty division. Across AXA XL, GWP and other revenues ... Read the full article
Verisk reports revenue and net income increase in Q2 2023
3rd August 2023
Insurance and analytics provider Verisk, has reported an increase in its consolidated and organic constant currency (OCC) revenues, primarily due to strong growth in underwriting and claims within its insurance segment. Consolidated revenues grew 10.1%, to $675.0 million. This includes $478.1 million from underwriting and $196.9 million from claims which compare ... Read the full article
Prudential posts Q2’23 net income vs year-ago loss
2nd August 2023
Prudential Financial has reported a second quarter 2023 net income of $511 million, compared to a net loss of $1.010 billion a year ago. The current quarter included a net after-tax charge from annual assumption update and other refinements of $329 million versus a charge of $1.294 billion in the year-ago ... Read the full article
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