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.
Aon reports organic reinsurance revenue growth of 13%
30th October 2020
Re/insurance broker Aon has reported organic revenue growth of 9% in its Reinsurance Solutions division during the third quarter of 2020. The Reinsurance Division posted revenue of $321 million in Q3 2020, compared with $291 million for the same period last year. This marks the fourth consecutive quarter of elevated growth for ... Read the full article
Arch’s reinsurance business recovers in Q3 despite high cat losses
30th October 2020
Bermuda-based re/insurer Arch Capital Group has announced a mild improvement in net income over the third quarter of 2020, helped by a recovery in its reinsurance business. Net income totaled $408.6 million in Q3, up from $382.1 million in for the same period in 2019. The result was helped by $5.5 million ... Read the full article
Everest Re reports $243mn Q3 net income, operating profit falls $41mn
30th October 2020
Bermuda-based re/insurer Everest Re has reported a $243.1 million net income for the third quarter, up from $104.4 million in the prior year quarter. After-tax operating income for the quarter was $97 million, down from $138.4 million in 2019. Pre-tax catastrophe losses totalled $300 million, an amount that is net of reinsurance and ... Read the full article
Selective posts improved net income, combined ratio in Q3
30th October 2020
Selective Insurance saw its net income reach $69.9 million over the third quarter, up from the $56.2 million achieved in the prior year period. Year-to-date income lags behind 2019 by 37%, however. The company has also seen its combined ratio improve 1.4 percentage points after a catastrophe-heavy Q2 2020 dragged it down ... Read the full article
COVID drags Swiss Re to a $691mn 9M loss
30th October 2020
Global reinsurer Swiss Re has reported a $691 million net loss for the first nine months of 2020, compared to a $1.3 billion profit registered over same period in 2019. Much of Swiss Re's performance so far in 2020 has been heavily impacted by the COVID-19 pandemic. Property & Casualty Reinsurance fell ... Read the full article
Donegal improves Q3 income to $11.8mn
29th October 2020
US primary holding company Donegal Group has posted a net income of $11.8 million for the third quarter of 2020, driven by better underwriting performance and investment gains. The result represented a 128.2% increase from the $5.2 million that Donegal reported for the same period last year. President and CEO Kevin Burke ... Read the full article
MMC’s Q3 operating income up 15%
29th October 2020
Marsh & McLennan Companies, Inc. (MMC), a global insurance and reinsurance brokerage, has announced consolidated revenue of $4 billion for the third-quarter of 2020, while underlying revenue fell by 1% when compared to the same period in 2019. Operating income spiked to $540 million from $467 million in the prior year ... Read the full article
James River returns to profitability in Q3, but revenues sink
29th October 2020
James River Group Holdings, the Bermuda-based insurance holdings company, has posted a net income $26.3 million for the third quarter of 2020, compared with a net loss of $25.2 million for the same period last year. Adjusted net operating income similarly improved to $17.4 million, compared to a loss of $22.2 ... Read the full article
WTW reports higher revenue in Q3; favourable reinsurance renewal factors
29th October 2020
Global insurance and reinsurance brokerage, Willis Towers Watson (WTW), has announced a 1% rise in revenue to $2.01 billion for the third-quarter of 2020. For the quarter, income from operations declined by 180 basis points compared to the same period in 2019, reaching $73 million. While net income of $121 million ... Read the full article
AFG’s earnings up in Q3 as firm reports highest P&C renewal pricing in 15 years
29th October 2020
American Financial Group, Inc. (AFG) has reported net earnings of $164 million for the third-quarter of 2020 and core net operating earnings of $217 million, compared with earnings of $147 million and $205 million, respectively, in the third-quarter of 2019. AFG notes that the year-on-year increase in core net operating earnings ... Read the full article
AXIS reports Q3 net loss as combined ratio hits 114.5%
29th October 2020
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has announced a net loss of $73 million and a combined ratio of 114.5% for the third-quarter of 2020, as pre-tax catastrophe and weather-related losses reached $240 million in the period. A net loss of $73 million compares with net income of $28 ... Read the full article
Covid sees Ping An’s 9M profit sink 20%
29th October 2020
Chinese insurer Ping An saw its net profit in the first nine months of 2020 decrease by 20.5% year on year to $15.3 billion. The company noted that, while traditional offline operations slowly recovered following a more intense period of covid disruption, it remained difficult to hold large-scale offline campaigns. Offline customer meetings ... Read the full article
BGC records 9% growth in insurance brokerage revenue
28th October 2020
BGC Partners has recorded a 9% growth in the revenue of its insurance brokerage business during the third quarter of 2020. Insurance brokerage revenue totaled $43.3 million in Q3 2020, versus $39.7 million last year. This contributed to total brokerage revenues of $417.2 million for the quarter, which was down 14% from ... Read the full article
COVID pushes QIC to $36mn loss
28th October 2020
Qatar Insurance Company (QIC), the Middle East and North Africa (MENA) focused insurer, has reported an overall group underwriting loss of QAR 131 million (USD 36 million) for the first nine months of 2020. Results were impacted by a net group underwriting loss of QAR 83 million (USD 22.8 million). The company ... Read the full article
The Hanover net income unchanged, operating profit up slightly
28th October 2020
The Hanover Insurance Group has reported a net income of $118.9 million in the third quarter, unchanged from the prior-year period, while operating income rose $0.5 million to $93.5 million. The difference between net and operating income in the quarter was primarily due to an after-tax increase in the fair value of ... Read the full article