Industry Segments: Results Page 5 / 26
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- July 8 2024
Pacific Islands captive PCRIC’s FY2023 net underwriting profit down 5%
Thanks to a World Bank grant support it recorded a US$1.4m surplus for the year. The company sold a total of eight policies while incurring zero claims.
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- July 4 2024
Japan’s big 4 insurers see lackluster premium growth in H1 2024
Most insurers recorded total premium growth by 3% for the six months to June 2024, with compulsory motor liability insurance posting declines year-on-year while fire insurance registering growth.
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- June 19 2024
Japanese non-life carriers’ FY 2024 ordinary profits more than doubled: FSA
The total net premiums written by the big-three Japanese insurance groups combined stood at US$81 billion for the fiscal year ended March 2024, data from the regulator shows.
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- June 7 2024
Seadrif FY2023 net profit up 84% on deferred income
The regional catastrophe risk platform saw loss from its insurance operations widen in 2023, but its profit was lifted by surplus grants from the MAS and the World Bank.
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- May 29 2024
GIC Re’s FY 2024 underwriting losses near US$500m
The India state-owned reinsurer’s COR deteriorated to 111.82% for FY 2024, while GWP for the period grew marginally to US$4.5bn.
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- May 29 2024
Tower swings back to profit in H1 2024 on absence of large nat cat
The Kiwi insurer's reported net profit after-tax totalled US$22.2m, reversing the US$3.1m net loss a year ago.
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- May 21 2024
Japanese big 3 results bolstered by overseas business, weak yen
The Japanese insurers' international subsidiaries reported strong performance in 2023 due to steady rate increases, while domestic premium growth remained muted despite fire and motor premium hikes.
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- May 20 2024
MS Reinsurance swings to US$366m profit in 2023
The firm’s combined ratio improved to 90.5% from 98% in 2022, GWP for the period topped US$3bn.
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- May 14 2024
Hannover Re books US$40m losses from Japan’s Noto earthquake, plane crash
The twin events in Japan accounted for 10% of the reinsurer's large loss budget for the first quarter.
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- May 13 2024
QBE forecasts 93.5% group COR for FY2024
The Australian carrier reported a group-wide renewal rate increase of 7.3% in the first quarter this year, while its net cat cost was US$200m for the first four months
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- May 9 2024
Malaysian Re FY 2024 GWP tops US$500m; parent achieves record net profit
The Asean reinsurer reported a combined ratio of 95.5% and its post-tax profit grew 146% in the latest financial year.
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- May 2 2024
Peak Re reports best-ever net profit of US$200m in FY 2023, COR down to 87.3%
The Hong Kong carrier's reinsurance revenue saw a 14.6% year-on-year decline in FY 2023 at US$1.56 billion.
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- April 25 2024
South Korea mandates liability cover under new data, crypto regulations: Korean Re
The market, which was hit by US$555m in summer rainfall losses last year, is set to benefit from compulsory insurance norms and the local players will also see easing of overseas expansion regulations, a report by the reinsurer says.
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- April 22 2024
CCR Re’s Africa and Asia FY 2023 GWP increases by 27%
The reinsurer saw moderate claims in Asia throughout the year, not affected by big cat events such as typhoons Doksuri in Beijing and Saola in Hong Kong and saw few individual claims in Korea.
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- April 19 2024
Tower upgrades FY 2024 profit outlook to US$20m
The updated guidance assumes full utilisation of the FY 2024 large events allowance, which is set at US$26.5m.
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- April 18 2024
ICICI Lombard’s FY 2024 underwriting losses up 10% at US$1.2bn, COR dips to 102.2%
The Indian general insurer's GWP grew by 17.5% US$3bn and net profit was up 11% year-on-year.
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- April 2 2024
Peak Re returns to record profit in 2023 on higher rates, reduced US nat cat exposure
The Hong Kong reinsurer posted US$200m net income for the year and its P&C combined ratio improved notably to 87.3%, from 110.1% a year ago.
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- April 1 2024
China Pacific Insurance P&C 2023 net profit down 20% as investment income plunges
China’s third-largest P&C insurer by premiums saw its combined ratio edge up by nearly 1 percentage point to 97.7%. Its liability business was the only business line with an underwriting loss.
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- March 28 2024
China Re returns to profit on strong FY2023 primary P&C, overseas growth
China's largest P&C reinsurer said lower cat losses, and improved rate conditions at its wholly-owned Chaucer also helped it achieve a 18% growth in overseas reinsurance gross written premium.
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- March 27 2024
PICC P&C 2023 net profit drops as nat cats, post-Covid reopening aggravate claims
China's largest P&C insurer saw net profit for the financial year drop 15.6% and its combined ratio edge up to 97.8%
