2024 financial results News

Marsh McLennan Reports 6% Increase in Q3 Revenue

Insurance broker Marsh McLennan reported a 6% increase in third quarter consolidated revenue to $5.7 billion, while revenue increased 5% on an underlying (organic) basis. Q3 operating income was $1.1 billion, an 11% increase from $996 million reported in Q3 …

Hard Market ‘Supercycle’ Likely to Be Prolonged: Lloyd’s CEO Neal

Now that the market has achieved a first-half profit of £4.9 billion with a combined ratio of 83.7—its best interim results in 17 years—does this mean the hard market cycle is ending? During a media briefing to discuss Lloyd’s results, …

Lloyd’s Reports Best H1 Underwriting Profit Since 2007, With 83.7 Combined Ratio

The Lloyd’s insurance and reinsurance market reported overall profit before tax of £4.9 billion (US$6.4 billion), a 25.6% increase from the £3.9 billion (US$5.1 billion) reported during H1 2023. The combined ratio, which is a key measure of underwriting profitability, …

US P/C Insurance Industry Posts First H1 Underwriting Profit Since 2021

The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …

Ping An Profit Rises Nearly 7% as Market Recovery Bolsters Returns

Ping An Insurance (Group) Co. said profit rose nearly 7% in the first half, after a stock-market recovery helped bolster investment returns at China’s second-largest insurer by market value. Net income climbed to 74.6 billion yuan ($10.5 billion) in the …

Swiss Re First-Half Profit Beats Estimates on Lower Catastrophe Claims

Swiss Re AG’s first-half net income beat estimates, as the re-insurer avoided higher claims from natural catastrophes that have impacted the broader insurance industry. Profit for the second quarter was $996 million, resulting in net income of $2.1 billion for …

UK Insurer Aviva Beats Earnings Forecasts on Home, Motor Insurance Price Hikes

British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets. The life and general insurer, whose main businesses are in …

Generali Profit Falls as Europe Flooding Hurts Non-Life Results

Assicurazioni Generali SpA’s second-quarter profit fell 24% from a year earlier, as claims from storms and flooding in Europe weighed on results. Net income in the three months through June declined to €797 million ($870 million) missing the €881 million …

Update: Australia’s QBE More Than Doubles First-Half Profit, but Misses Estimates

Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six months low. The company’s gross written premiums …

Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit

Liberty Mutual Holding Co. continued to put 2023’s losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of $585 million for the same period in …