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.
Principal’s Q3 results show drop in net income
27th October 2020
Principal Financial Group (PFG) has announced its Q3 results which show that net income has dropped to $236 million, compared to $277.1mn in the same period last year. PFG’s non-GAAP operating earnings for the third-quarter of 2020 fell to $234.5 million, compared to $345.3 million for the third-quarter of 2019. PFG notes ... Read the full article
Investment gains help boost Cincinnati’s Q3 net income to $484mn
27th October 2020
Primary insurer Cincinnati Financial has reported a third quarter net income of $484 million, up from $248 million in the prior year period. This increase was primarily due to the after-tax net effect of a $352 million increase in net investment gains and partially offset by a $106 million decrease in ... Read the full article
Brown & Brown’s organic revenue up 4.3% in Q3
27th October 2020
Insurance brokerage Brown & Brown, Inc. has reported total revenues of $674 million for the third-quarter of 2020, as commissions and fees increased by 8.7% to $671.4 million. At the same time, the company has announced that organic revenue spiked by 4.3% in Q3 2020 to $621.3 million, compared with $595.9 ... Read the full article
Gov schemes benefit Coface in Q3 but 9M net income falls 55%
27th October 2020
Credit insurer Coface has reported net income of €28.5 million (USD 33.7mn) for the third-quarter of 2020 and an improved combined ratio of 77.4%, driven by the temporary positive impact of government schemes. The state-guaranteed COVID-19 reinsurance scheme, designed to support French SMEs by covering credit insurance risks, benefited the company's ... Read the full article
Türk Reasürans reports solid growth & profit in first year of operations
26th October 2020
Istanbul, Turkey domiciled reinsurance company, Türk Reasürans A.Ş, recorded underwriting premium of TRY 723 million (approx. USD 90mn) in the first nine months of the year, as the firm reports solid progress during its first year of operations. Türk Reasürans, a domestic reinsurer established by the Turkish Treasury and Finance ... Read the full article
RLI grows earnings in Q3 despite CR slide
22nd October 2020
US property and casualty insurer, RLI Corp., has improved its net earnings to $42.4 million in the third quarter of 2020, despite some deterioration in its combined ratio. Net earnings were up from $32.3 million for the same period last year, but operating income fell to $19.0 million from $25.9 million ... Read the full article
W.R. Berkley posts 93.7% combined ratio for Q3 despite cat impacts
21st October 2020
W.R. Berkley Corporation has reported operating income of $121.1 million for the third-quarter of 2020 and a combined ratio of 93.7%, despite the impacts of catastrophe events in the period. Operating income fell slightly from the $163.7 million reported for the third-quarter of 2019, while the insurer's net income also fell ... Read the full article
Munich Re adds €800mn of COVID-19-related losses in Q3
20th October 2020
Global reinsurer Munich Re has added a further €800 million of COVID-19-related losses in its reinsurance operation in the third-quarter of 2020, taking its total for the first nine months of the year to €2.3 billion. The German reinsurer explains that the losses were attributable to various lines of business, including ... Read the full article
Travelers’ Q3 net income rises as losses trigger full agg reinsurance recovery
20th October 2020
The Travelers Companies, Inc. has reported an improved net income of $827 million for the third-quarter of 2020, despite elevated catastrophe and non-catastrophe weather-related losses triggering a full recovery under the firm's Underlying Property Aggregate Catastrophe Excess-of-Loss Reinsurance Treaty. Net income improved by $431 million year-on-year in Q3 2020 as a ... Read the full article
Gjensidige Forsikring’s combined ratio improves to 78.2% in Q3
20th October 2020
General insurance provider, Gjensidige Forsikring Group, has reported an improvement in its combined ratio to 78.2% for its Q3 results, in comparison to its Q3 2019 result of 83.2%. The underwriting result was driven by 10% growth in earned premiums, an improved underlying frequency loss ratio and lower large losses. Earned premiums ... Read the full article
Kemper’s Q3 results to include cat losses of up to $68mn
20th October 2020
Kemper Corporation has announced that it anticipates its third quarter 2020 results will include pre-tax catastrophe losses ranging from $62 million to $68 million, primarily related to wildfire and hurricane events. The company notes that it does not expect ... Read the full article
R&Q’s pre-tax operating profit up 30%; COVID-19 dents investment result in H1
14th October 2020
Randall & Quilter Investment Holdings Ltd. (R&Q) has reported a 30% rise in pre-tax operating profit to £10.4 million (USD 13.4mn) for the first half of the year, while the impact of the COVID-19 pandemic on financial markets dented the firm's investment performance in the period. Pre-tax operating profit increased from ... Read the full article
COVID-19 disruption sees Helios post underwriting loss for H1
25th September 2020
Helios Underwriting has announced a £108,000 operating loss for the first half of 2020, with the COVID-19 pandemic causing a reduction in underwriting profits. The company says cumulative rate increases since 1 January 2018 are 28%. Losses of £5 million have been reserved for COVID-19 by the supported syndicates, of which 85% ... Read the full article
MAPFRE improves Q2 solvency ratio despite COVID challenges
21st September 2020
Spanish re/insurer MAPFRE has improved its Solvency II ratio in the second quarter of 2020, despite significant challenges associated with the COVID-19 pandemic. The company posted a ratio of 183.8% in Q2, representing a 6.6 percentage point increase on the 177.2% it recorded in Q1. It also compares with the Solvency II ... Read the full article
Allstate pegs August cat losses at $985mn
18th September 2020
US primary insurer Allstate has estimated its catastrophe losses for the month of August at $985 million, pre-tax. Losses during the period consisted of 11 events at an estimated cost of $969 million, pre-tax, plus unfavorable prior period reserve reestimates. Estimated catastrophe losses for the month include a $430 million impact of ... Read the full article