All Results articles
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NewsPalomar grows GWP 68% in Q4
California-based specialty quake insurer Palomar Holdings has capped off a year of strong growth by reporting fourth quarter gross written premiums were up 68.4 percent to $73.3mn, compared to $43.5mn in the fourth quarter of 2018.
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QBE’s NA business to return underwriting profit in 2020: Regan
QBE’s North American business should return a “more normalized” level of underwriting profit in 2020, CEO Pat Regan told analysts on Monday, despite the unit posting a loss-making combined ratio in 2019 driven by heavy cat losses impacting its US crop business.
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QBE bucks Australian stock trend as shares rise 5% to five-year high
Shares in ASX-listed QBE rose by 4.3 percent in the latest trading session, bucking the trend set by fellow Australian carriers IAG and Suncorp, which each saw their shares dip to a respective 52-week low last week.
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QBE FY profit climbs 41% despite cat hit
Australian insurer QBE saw its after-tax net profit climb 41 percent in 2019 but trimmed its final dividend amid a surge in its natural disaster costs across Australia and the United States.
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AIG shares slide for second day; AIG 200 charge to come in Q1
AIG’s share price has fallen more than 10 percent since it released its fourth quarter results as investors continue to absorb its 2020 guidance.
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Fairfax units poised for growth as rates accelerate: Watsa
Fairfax Financial-owned (re)insurers Odyssey, Allied World, Crum Forster and Brit are “ready to expand” on the back of continuing rate rises, chief executive of the Toronto-headquartered holding company Prem Watsa has said.
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TMHCC sees North American A&H book shrink in Q3
Tokio Marine Holdings’ speciality subsidiary Tokio Marine HCC (TMHCC) saw a decline in North American net earned premium of 2.6 percent to 277.1bn yen ($2.5bn) in the third quarter of 2019, mainly driven by a shrinkage of its accident health (A H) book.
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Sompo International 9M profits jump as top line grows 13%
Sompo International has posted a nine month adjusted profit of $277mn, a near 80 percent jump from the $154mn it reported in the prior year period.
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MS&AD profits climb as investments push MS Amlin back into black
Japanese carrier MS AD saw its net profits climb 54.2 percent to 269.9bn yen ($2.4bn) in the nine months ended December 2019, as strong investment returns helped push subsidiary MS Amlin back into the black.
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Brit returns to profit at FY19 with 95.8% CR
Lloyd’s insurer Brit reported a return to profit in 2019, delivering a pre-tax profit of $183.0mn and an improved combined ratio of 95.8 percent.
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Fairfax Financial UW profits up fivefold to $124mn in Q4
Fairfax Financial’s (re)insurance operations delivered a big jump in underwriting profits in the fourth quarter that included significantly improved combined ratios at Brit and Allied World and reserve releases across the board.
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AIG shares trade down amid mixed reaction to 2020 guidance
Despite an encouraging return to profitability in the fourth quarter , including underwriting profits in its general insurance division, shares in AIG closed down over 6 percent after it released its results.
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AIG bought new US private client tower and combined agg deductibles at 1.1
AIG purchased a separate occurrence tower for its US private client group at 1 January in connection with the establishment of its high net worth business-focused Lloyd’s Syndicate as it reported that the cost of its overall cat reinsurance programme reduced by 7 percent year-over-year.
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AIG in Q4 earnings beat as general insurance delivers full-year UW profit
CEO Brian Duperreault’s continuing efforts to transform AIG appear to be finally bearing fruit as the carrier’s fourth quarter results saw it deliver a consensus beating operating EPS of $1.03, boosted by a return to underwriting profit in its general insurance division that was bolstered by $153mn of favourable reserve ...
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Lancashire shares climb after strong FY results
Shares in Lancashire Holdings were up 3.4 percent in early trading – having earlier climbed by 6 percent – as investors reacted to an impressive set of FY results, with profit before tax of $120mn “substantially stronger” than the consensus of $76mn, according to Nick Johnson of Numis.
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Lancashire beats consensus with FY CR of 80.9% as cat bill halves
London-listed Lancashire has reported a strong 2019 pre-tax profit of $119.5mn, up from the $33.6mn it reported the previous year, as the carrier slashed its cat bill in half and best analysts’ expectations in the process.
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Zurich posts “in line” 2019 earnings with P&C combined ratio 96.4 percent
Europe’s fifth largest insurance company Zurich said 2019 business operating profits climbed 16 percent with CEO Mario Greco praising the company’s “amazing journey” as it met its 2016-2019 financial targets.
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Further rate increases needed: Arch’s Grandisson
Arch Capital’s president and CEO Marc Grandisson believes the industry still needs further rate increases but said E S and facultative reinsurance are showing particularly positive movement.
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Mapfre profits from life but cats dent P&C reinsurance
Madrid-headquartered (re)insurer Mapfre saw its group net profit climb 15.2 percent in 2019 to beat analysts’ expectations despite deteriorating results in its core reinsurance and special risks division.
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Arch expected to trade up as Q4 results beat
Shares in Arch Capital Group are expected to trade up on Wednesday after the Bermudian carrier reported a consensus beating fourth quarter net operating income per share of $0.74, significantly lower catastrophe losses in its P C operations and a circa 25 percent jump in insurance GWP.
