TransRe, 9M2019: earnings before taxes went up 43.9%

Trans Re ended the first nine months of 2019 with earnings before taxes in amount of USD 639 million, showing a considerable increase of 43.9% compared to the same period of the year before.


TransRe nine months figures (vs. 9M2018)


  • Gross premiums written: USD 3,686 million (+10.9%), of which:
    • Property: USD 1,253 million (+4.9%)
    • Casualty/Other: USD 2,433 million (+14.2%)
  • Net premiums written: USD 3,202 million (+10.3%)
  • Underwriting profit: USD 122 million (9M2018: USD (4) million)
  • Net investment income: USD 283 million (+16.5%)
  • Combined ratio: 96.2% (-3.9 pp.)
  • Earnings before taxes: USD 639 million (+43.9%)

At the end of the period, from January to September 2019, TransRe reached a total amount of gross written premiums (GWP) of USD 3,686 million (+10.9% year-on-year). The Casualty lines of business, Traditional and Specialty, brought 66.0% of the total GWP volume, amounting USD 2,433 million, while the rest of 34.0% came from Property segment, Cat and Non-Cat, which summed USD 1,253 million. The net premiums earned for the period were USD 3,202 million (+10.3%). TransRe main market remained North America, being followed by Europe.

The underwriting profit at nine months was USD 122 million, showing a better performance when compared to the first nine months of 2018, when TransRe faced an underwriting loss of USD 4 million.

The combined ratio stood at 96.2%, heading downwards 3.9 percentage points (9M2018: 100.1%). The expense ratio was 32.8% while the loss ratio was 63.4%. While the Casualty/ Other loss and expense ratio decrease slightly when compared to the values of 2018, the property loss ratio decreased significantly from 71.3% at 9M2018 to 55.8% at 9M2019.

TransRe net investment income was USD 283 million (+16.5%). More than half of the investment portfolio of the company consists in 'Corporates', 'Asset Backed', and 'Government' instruments.

The updated financial strength ratings for TransRe at the end of September 2019 were A+ stable from Standard & Poor's, A+ stable from A.M. Best and A1 stable from Moody's.


Find more financial information about TransRe at transre.com/about-us/financials.


Source: transre.com

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