Latest news with #reinsurance
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Munich Re CEO Wenning to Retire, CFO Moves Up
Munich Re's MUV2 0.73%increase; green up pointing triangle Chief Executive Joachim Wenning will retire at the end of this year and be succeeded by finance chief Christoph Jurecka. The German reinsurer on Wednesday said Wenning doesn't wish to continue in the role for personal reasons and has decided to retire upon the conclusion of its strategy program this year. He will step down after eight years in the role on Dec. 31.
Yahoo
2 days ago
- Business
- Yahoo
AM Best Affirms Credit Ratings of Cavello Bay Reinsurance Limited
OLDWICK, N.J., July 22, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of "a+" (Excellent) of Cavello Bay Reinsurance Limited (Cavello Bay) (Bermuda), a subsidiary of Enstar Group Limited (Enstar) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Cavello Bay's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management. The affirmation reflects a continuation of Enstar's robust capitalization through its acquisition by Sixth Street Partners, LLC (Sixth Street). In recent years, Enstar has established itself as a market leader in the non-life runoff space and continues to introduce new products to service short-tailed and insurance-linked securities solutions as well. AM Best anticipates that the business model will remain generally consistent under the ownership of Sixth Street. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Dan Hofmeister, CFA, FRM, CAIA, CPCU Associate Director +1 908 882 1893 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Steven M. Chirico, CPA Director +1 908 882 1694 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Yahoo
3 days ago
- Business
- Yahoo
RenaissanceRe (RNR) Q2 Earnings Report Preview: What To Look For
Reinsurance provider RenaissanceRe (NYSE:RNR) will be reporting earnings this Wednesday after market close. Here's what to look for. RenaissanceRe beat analysts' revenue expectations by 14.4% last quarter, reporting revenues of $3.47 billion, up 33.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' net premiums earned estimates but a significant miss of analysts' EPS estimates. Is RenaissanceRe a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting RenaissanceRe's revenue to grow 4.3% year on year to $2.95 billion, slowing from the 52.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $9.78 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RenaissanceRe has missed Wall Street's revenue estimates five times over the last two years. Looking at RenaissanceRe's peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 21.3%, beating analysts' expectations by 1.4%, and Travelers reported revenues up 7.3%, in line with consensus estimates. Progressive traded up 2.2% following the results while Travelers was also up 5.5%. Read our full analysis of Progressive's results here and Travelers's results here. Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the insurance stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. RenaissanceRe is down 5.3% during the same time and is heading into earnings with an average analyst price target of $280.09 (compared to the current share price of $231.95). Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Bloomberg
3 days ago
- Business
- Bloomberg
Munich Re Posts €2.1 Billion Profit on ‘Very Low' Major Losses
By Munich Re said second-quarter profit rose as some major-loss expenditures were less than expected, prompting the German reinsurance company to confirm its full-year profit guidance. Preliminary profit in the three months through June increased to about €2.1 billion ($2.5 billion), the company said on Monday. It posted net income of €1.6 billion a year earlier.
Reuters
3 days ago
- Business
- Reuters
Munich Re posts Q2 profit of 2.1 bln euros, above expectations
FRANKFURT, July 21 (Reuters) - The German reinsurer Munich Re ( opens new tab said on Monday that its second-quarter profit was significantly above analyst expectations, helped by low claims for losses. The reinsurer said net profit was around 2.1 billion euros ($2.45 billion) in the second quarter, above a consensus forecast of 1.62 billion euros. ($1 = 0.8556 euros)
