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.
Progressive posts a combined ratio of 91.4% for its property business in May’23
14th June 2023
Property and auto-focused insurance group, The Progressive Corporation, has reported a combined ratio of 91.4% for its property business in its May 2023 results, which includes 66.1% in Loss/LAE ratio and 25.3% in Expense ratio. The net catastrophe loss ratio was high at 44.0% for the property business. The main reason for ... Read the full article
B.P. Marsh sees Net Asset Value increase to £189.5m in FY results
13th June 2023
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value increased to £189.5m in its final results on 31 January 2023, marking a 13.8% increase from £166.6m on 31 January 2022. B.P. Marsh also recorded an increase in the equity value of its portfolio of £22.2m ... Read the full article
Average rate increases in Canada up yoy, but pace of increase is slowing: Applied Systems
12th June 2023
New data from Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased year over year in Canada during the first quarter of 2023. According to the data, quarter over quarter, premium rate change decreased for both Personal Auto and Personal Property compared to Q422. Analysts reported ... Read the full article
U.S. P&C reinsurers wrote $27.3 billion of net premiums during Q1 of 2023: RAA
5th June 2023
In a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 17 U. S. property/casualty (P&C) reinsurers wrote $27.3 billion of net premiums during Q1 of 2023, up from $24.6 billion for the same period last year. The firms involved in the survey ... Read the full article
UK P&I Club surpasses $500 million milestone in gross written premium
31st May 2023
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services to the international shipping community, reported surpassing the milestone of $500 million in gross written premium for the first time, driven by the expansion of its fixed premium P&I business. This growth was accompanied by an ... Read the full article
VIG reports double digit premium growth across all segments for Q1 2023
31st May 2023
Vienna Insurance Group reports double-digit premium growth in Q1 2023. The Group’s solvency ratio is at 284% which remains stable against the figure of 280% at the end of 2022. Despite numerous economic and geopolitical uncertainties, VIG remains cautiously optimistic for 2023 as a whole and still aims for a ... Read the full article
Helios Underwriting announces syndicate capacity forecasts for 2021 and 2022 years of account
31st May 2023
Lloyd's focused investment vehicle, Helios Underwriting, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2021 and 2022 years of account, based on 1st quarter 2023 estimates. The company, which acquires and consolidates private underwriting capacity at Lloyd’s, recorded a capacity position of £296.7 million for ... Read the full article
Zimre Holdings posts positive underwriting result in Q1
31st May 2023
Zimre Holdings Limited has released its Q123 results. In a statement released by the company, it notes that the first quarter of 2023 saw the global economy heading for a “potential financial crisis” as financial markets and the banking sector were thrust into turmoil as a result of the “tightening of ... Read the full article
FG Financial Group’s reinsurance unit posts over $1 million in Q1 net underwriting profit
30th May 2023
FG Financial Group reported that its reinsurance division posted net underwriting profit in the first quarter of 2023 of over $1 million. According to the firm, the profit was driven by strong profitable growth in net written premiums as the company executes its strategy to deploy capital to highly structured loss-capped ... Read the full article
Canadian personal auto & property rates up through Q1: Applied Systems
30th May 2023
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased in Canada year over year in the first quarter of 2023. Quarter over quarter, premium rate change decreased for both Personal Auto and Personal Property compared to ... Read the full article
Coface sees strong start to the year with €61.2m net income
26th May 2023
Credit insurer Coface has recorded a strong start to the year with a €61.2 million net income for the first quarter of 2023. The net income figure represents a 17% increase from the €52.3 million net income figure that Coface reported in the first quarter of 2022. Operating income for the quarter ... Read the full article
Helios Underwriting sees GWP rise 131% in 2022 despite loss of £1.3m
26th May 2023
Despite reporting a total comprehensive loss in 2022 of £1.3m, Helios Underwriting's retained capacity for the 2023 open underwriting year increased by 34% to £238m, as the firm states it is "well positioned to maximise the opportunities on offer in this disciplined market." Gross written premiums in 2022 increased by a ... Read the full article
Tower reports HY23 loss amidst surge in catastrophic event costs
25th May 2023
New Zealand insurer Tower Limited has reported a loss of $5.1 million for the half year to March 31, 2023, as costs related to large catastrophic events rose to $33.9 million in this period. The loss compares to a year-ago profit of $3 million, the insurer noted. Costs related to large ... Read the full article
Generali sees GWP rise to €22.2 billion in Q1, driven by growth in P&C
25th May 2023
Italy-headquartered insurer Generali has reported that gross written premiums increased to €22.2 billion in Q1 of 2023, driven by robust growth in the P&C segment, which was up 10.1%. Meanwhile, Life net inflows were €-190 million, with net outflows from savings that were partially compensated by positive net inflows in both ... Read the full article
Aviva sees GWP rise 11% to £2.4bn in Q1
24th May 2023
In its Q1 results, Aviva reported that General Insurance gross written premiums (GWP) were up 11% at constant currency to £2.4bn, driven by disciplined management of inflationary pressures and a balanced mix across personal and commercial lines, and across the UK, Ireland and Canada. According to Aviva, UK&I GWP increased by ... 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.
