2024 financial results News

European Insurers Enjoy Big Profits After Premium Hikes

Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …

UK Insurer Beazley Upgrades 2024 Forecast After H1 Profit Nearly Doubles

British insurer Beazley upgraded its combined ratio forecast for 2024 on Thursday after first-half pretax profit nearly doubled, boosted by growth in its property risks premiums and fewer catastrophe losses, sending its shares up 10%. The insurer, which commands about …

Update: Zurich Insurance Tops Profit Forecast, on Track to Beat 2025 Targets

Zurich Insurance posted a record first-half operating profit on Thursday and said it was on track to beat its 2025 targets, but concerns about natural catastrophe losses sent its shares lower. Insurers have benefited from several years of rising premiums …

Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022

SCOR SE Chief Executive Officer Thierry Leger said he’s taking over control of the company’s life and health unit after it led the firm to report its first quarterly loss since 2022. The Paris-based reinsurer posted a loss of €308 …

Aon Reports 6% Drop in Q2 Net Income, Organic Revenues Grow 6%

Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million reported in Q2 2023. Adjusted net income attributable to Aon shareholders increased 9% during Q2 2024 to $624 million, compared …

WTW Reports 48% Hike in Q2 Net Income With Organic Growth of 6%

WTW reported second quarter net Income of $142 million, an increase of 48% compared to net income of $96 million in the prior-year second quarter. Q2 adjusted net income rose 20% to $263 million, from $219 million reported in the …

Marsh McLennan Reports 8.7% Increase in Q2 Net Income

Insurance broker Marsh McLennan reported second quarter net income of $1.125 billion, an 8.7% increase from $1.035 billion reported during Q2 2023. Operating income rose 13% to $1.6 billion. Q2 earnings per share increased 10% to $2.27, while adjusted earnings …

After First Net Loss Since 1923, USAA Back to Profit in 2023

USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based reciprocal exchange said revenue was up 17% year-over-year to …

Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead

In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over 2023. Executives from …

UK’s Aviva Posts 16% Rise in Q1 General Insurance Premiums

Aviva posted a 16% rise in general insurance gross written premiums to 2.7 billion pounds ($3.44 billion) in the first quarter, helped by strong performance in Britain. Life and general insurer Aviva, which has its main operations in Britain, Canada …