Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
China’s Ping An Profit Drops 24% as Pandemic Deals Blow to Business
May 3 2022 // Ping An Insurance (Group) Co., China’s largest insurer by market value, said profit fell 24% and warned that outbreaks of COVID in the world’s second-biggest economy pose a threat to near-term growth. Net...
Lloyd’s Insurer Lancashire Sees Manageable Russia-Ukraine Losses
Apr 28 2022 // Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk...
Chubb Posts Record Q1 P/C Underwriting Income
Apr 26 2022 // Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.3 billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3...
Louisiana Houses Passes Bill Broadening Loss of Use Coverage Scenarios
Apr 26 2022 // The Louisiana House passed a bill Monday that would broaden the requirements of when insurers have to pay loss of use coverage in response to a storm evacuation warning. House Bill 83 says any loss of use coverage would be...
Iowa Court Finds No Coverage for COVID Income Loss in 2 Decisions
Apr 26 2022 // The Iowa Supreme Court last week ruled in two separate decisions that COVID-19 did not cause a physical loss or damage that would allow a private golf club or a restaurant and bar to recoup income lost during COVID-19...
Texas Division of Workers’ Comp Seeks Comments on Income Benefits Form
Apr 25 2022 // The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on a proposed new form: DWC Form-033, Request to Reduce Income Benefits Due to Contribution. Adopting this form...
ESG, Invasion of Ukraine Focus of Marsh McLennan Earnings Call
Apr 22 2022 // Much attention was paid to ESG (environmental, social, and governance) issues and the Russian invasion of Ukraine as Marsh McLennan reported the highest first-quarter underlying growth in more than 20 years. First quarter...
Claims Inflation, Weakening Price Momentum Could Hit Reinsurer, London Mkt Profits
Apr 21 2022 // The global reinsurance and London market sectors face increased risks from rising claims inflation, financial market volatility and weakening price momentum, according to a commentary published by Fitch Ratings. As a...
Insured Losses From Eastern Australia Floods Estimated at A$4B: PERILS
Apr 21 2022 // Initial insurance losses for the Eastern Australia floods are estimated at A$3.99 billion (US$2.97 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance...
Travelers CEO Schnitzer: Loss Costs ‘Challenging as Ever to Predict’
Apr 20 2022 // In the words of its CEO, there’s a “fair amount to pay attention to” from the first-quarter earnings call of Travelers, as the P/C insurer grew net written premiums 11% to a record $8.4...
Swiss Re Secures $1.15B Stop-Loss Protection to Support Reinsurance Growth
Apr 19 2022 // Swiss Re has secured US$1.15 billion in stop-loss cover that protects the entire group for severe underwriting-related losses over a five-year period. Swiss Re said the transaction supports its “growth opportunities...
Insurer Travelers’ Profit Beats on Lower Catastrophe Losses
Apr 19 2022 // Property and casualty insurer Travelers Companies Inc. reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses. The...
UK CFOs Expect High Inflation to Cut Profit Margins: Deloitte Survey
Apr 19 2022 // More than seven out of 10 chief financial officers (CFOs) at Britain’s biggest companies expect high inflation to reduce their profit margins, and few see the Bank of England getting inflation under control in the...
SCOR Warns of Ukraine Conflict Impact on Q1 2022 Results
Apr 18 2022 // Paris-based reinsurer SCOR said the company expects a first-quarter 2022 charge in the high double-digit million euros range for potential claims related to the Russia-Ukraine conflict across both treaty reinsurance and...
Floods Drive Economic Losses in 2021, but Only 25% of Risks Are Insured: Swiss Re
Apr 18 2022 // More than 50 severe flood events around the world caused combined economic losses of $82 billion in 2021, while insured losses stood at slightly more than $20 billion — more evidence of a large ongoing global...
Chubb’s Greenberg on War, Ex-CAT Reporting and Insurance Profits
Apr 18 2022 // Chubb’s 2021 annual report, published online in April 2022, contains more than the details of the best year in the company’s history. As in past years, the chief executive commented on world events in his...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Apr 18 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported in March, citing the impact of social inflation on rising...
Louisiana Teen Turns Tragic Loss Into Effort to Improve Highway Safety
Apr 11 2022 // A Louisiana high school senior who lost her best friend in a head-on collision is on a mission to improve safety on on Highway 167. Emma Hebert and Ramsie Baumgardner both attended North Vermillion High, and Baumgardner...
Chubb’s Greenberg: On War, Ex-CAT Reporting and Insurance Profits
Apr 11 2022 // When Chubb published its 2021 annual report online this week, it contained more than the details of the best year in the company’s history. As in past years, the chief executive commented on world events in his...
Will Companies Exiting Russia Be Able to Recoup Losses With Insurance?
Apr 4 2022 // Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co. to PwC, a global professional services...
