2021 financial results News

Argo Group Estimates Q1 2021 Catastrophe Losses of $47 Million

Bermuda-based Argo Group International Holdings Ltd. announced estimated catastrophe losses of approximately $47 million for the first quarter of 2021. Argo expects to report Q1 natural catastrophe losses of approximately $43 million, primarily related to Winter Storm Uri. Approximately half …

Travelers Is ‘Off to a Terrific Start’ in 2021 with Q1 Results

The Travelers Companies reported net income of $733 million for the first quarter of 2021, compared to $600 million in the prior year quarter. Core income in the current quarter was $699 million compared to $676 million in the prior …

Everest Re Estimates Q1 2021 Catastrophe Losses of $260 Million

Bermuda-based Everest Re Group Ltd. estimates pre-tax catastrophe losses for the first quarter of $260 million. Breaking down that total, Everest said the Texas winter storms will cost $250 million, while Australia’s New South Wales floods will cost $10 million. …

Insurers Report Estimated Q1 Catastrophe Losses

Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The Allstate Corp. said it had nearly $1.7 …

Arch Capital Estimates Q1 Catastrophe Losses Could Reach $190 Million

Arch Capital Group Ltd. estimated a range of pretax catastrophe losses of $180 million to $190 million for the first quarter across its property casualty insurance and reinsurance segments. A major reason for the claims during Q1 will be January’s …

AXIS Capital Estimates Q1 Pre-Tax Catastrophe Losses of $105M-$115M

Bermuda-based AXIS Capital Holdings Ltd. announced a preliminary, pre-tax first quarter net loss estimate for catastrophes and other weather-related events in the range of $105 million to $115 million, or $95 million to $105 million, after-tax. The pre-tax net loss …

RenaissanceRe Expects Q1 Loss from U.S. Winter Storm Uri

Bermuda-based RenaissanceRe Holdings Ltd. estimated that losses from Winter Storm Uri will have a net negative impact of approximately $180 million on the company’s first quarter 2021 results of operations. Winter Storm Uri was a major wind and ice storm …

EC Pauses Investigation; CEO Says Aon-Willis Merger Still on Track to Close in 1st Half

The merger of Aon with Willis Towers Watson is on course to close in the first half of 2021, said John Haley, Willis Towers Watson’s chief executive. “In March of last year when we first announced [the merger], we had …

China’s Ping An Insurance Reports First Annual Drop in Profit Since 2008

BEIJING/SHANGHAI — Ping An Insurance Group Co of China Ltd , China’s largest insurer by market value, on Wednesday reported its first annual fall in profit since 2008, as COVID shutdowns hampered business growth. The insurer reported a 4.2% drop …