Results

Q3 earnings: Investor focus on cats, casualty and broker organic growth

Q3 results should provide commentary on the impact of late activity in the hurricane season straddling the quarter’s end, but investor interest around carriers is also likely to focus on casualty loss cost trends and an inflection point on pricing along with organic growth at brokers.

Tower raises FY24 profit guidance on benign weather losses

Auckland-based Tower Limited has once again raised its profit guidance for its 2024 fiscal year amid a benign weather environment and positive trading conditions in New Zealand.

Tryg posts 78.2% CR in Q3 beat

Danish insurer Tryg has posted a combined ratio of 78.2 percent for the third quarter of 2024, beating analyst expectations thanks to the impact of price adjustments and a benign quarter for large and weather-related claims.

Personal lines drive strong H1 for US P&C industry

The US property and casualty industry swung to a strong underwriting gain in the first half of this year, with the turnaround in personal lines expected to continue into 2025, while commercial lines may face modest pressure.

Helios posts £10.8mn underwriting result for H1 2024

Helios Underwriting has revealed it plans to strategically reduce new syndicate participations for 2025 to better navigate the underwriting cycle.

Ageas 2025-2027 business plan sets 6-8% EPS growth target

Ageas has unveiled its three-year strategic business plan — named Elevate27 — which has set an average earnings per share growth target of 6 to 8 percent by the end of 2027.

BP Marsh has 19 sector start-ups under review as cash jumps to £80mn

Specialist UK insurance investor BP Marsh has 19 potential investment opportunities under review, with the venture capitalist holding in excess of £80mn ($105mn) for channelling into early-stage investments in niche entrepreneurial intermediaries and MGAs.

AM Best: US P&C sector delivered $3.8bn net UW gain in H1 2024

The US P&C industry generated a $3.8bn net underwriting gain in the first six months of 2024, contrasting dramatically with the $24.0bn loss recorded in the same period last year, largely driven by a turnaround in the personal lines sector.

Skuld posts 111% H1 CR as pooling claims bite

Oslo-based P&I club Skuld has posted a combined ratio of 111 percent for the first half of the 2024/25 financial year, driven by several large claims during the period.

Baloise H1 CR deteriorates to 90.4% as June storms bite

Swiss insurer Baloise has reported a combined ratio of 90.4 percent for the first half of 2024, a 3.1 percentage point year-on-year deterioration.

Brit posts 80.5% undiscounted CR for H1 2024

Fairfax Financial-owned Brit Insurance has reported an undiscounted combined ratio of 80.5 percent for the first half of 2024, an improvement of 1.8 percentage points on the prior-year period.

CCR Re posts 88.8% CR as H1 top line nears €1bn

CCR Re has reported a 7 percent jump in turnover to €970mn ($1.08bn) for the first half of 2024, as the Paris-based reinsurer hailed the near-completion of its breakaway from former parent CCR.

Lloyd’s Keese doubles down on call for continued discipline in US casualty, cyber and PVT

Lloyd’s CFO Burkhard Keese has hailed the market’s strong H1 performance as further proof of the Corporation’s laser focus on underwriting profitability, as he doubled down on previous calls for continued discipline in distressed lines, particularly US casualty.

Helvetia misses H1 CR consensus owing to nat cat claims burden

Swiss insurer Helvetia has posted a non-life combined ratio of 95.4 percent for the first half of 2024, missing consensus as a result of a higher net claims burden from natural catastrophes.

Lloyd’s posts best H1 underwriting performance in 17 years as profit tops £4.9bn

Lloyd’s has reported a combined ratio of 83.7 percent for the first six months of 2024, its best interim result since 2007, as pre-tax profit totalled £4.9bn ($6.4bn).

DLG returns to H1 profitability but misses consensus

Direct Line Group returned to profitability in the first half of 2024 with the UK carrier reporting an operating profit of £63.7mn from ongoing operations, compared with a loss of £93.7mn in H1 2023.

Steadfast organic growth accelerates to 12.5% in fiscal FY24

Australian broker Steadfast Group has reported organic growth of 12.5 percent for its 2024 fiscal year, which helped drive a 22.7 percent year-on-year increase in earnings before interest, taxes and amortisation.

VIG posts €7.9bn in H1 GWP as weather claims subside

Vienna Insurance Group has reported a P&C net combined ratio of 93.3 percent for the first half of 2024, with the group confirming a positive outlook for the financial year with profit before tax expected at the upper end of its target range.

Peak Re reports 84.9% CR as H1 GWP hits $848mn

Hong Kong-based reinsurer Peak Re has posted a P&C insurance combined ratio of 84.9 percent for the first half of 2024.

Ageas reports strong H1 beat as reinsurance unit posts 93.1% CR

Ageas Re generated an operating profit of €67mn ($74.mn) in the first six months of 2024, which helped to drive a group-level earnings and profit beat for parent Ageas.

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