Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Update: Allianz Warns Earnings Could Be Hurt by U.S. Investigation into Funds
Aug 2 2021 // Allianz SE warned of a potentially material hit to its earnings after the U.S. Justice Department opened a probe into its Structured Alpha Funds, which are at the center of lawsuits in the wake of steep losses during the...
First Half 2021 Natural Disaster Insured Losses Reach 10-Year High
Aug 2 2021 // Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on July...
Reinsurers Show Strong Profits During 2nd Half, Rebounding from 2020’s Challenges
Jul 30 2021 // The first half financial results, reported by a group of six reinsurers over the past week, generally show a strong return to profits after last year’s challenging market conditions. A wrap-up of these H1 results...
The Hartford Reports Q2 Net Income Up 94%; Boasts ‘Superb’ P/C Results
Jul 29 2021 // The Hartford today announced it earned $900 million in net income in the second quarter of this year, a 94% jump from second quarter 2020. Core earnings of $836 million were up 91% from second quarter 2020. “Our...
P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1
Jul 29 2021 // Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an...
Chubb Is ‘Firing On All Cylinders,’ Says CEO Greenberg After Record Results for Q2
Jul 28 2021 // Chubb released positive second quarter results, driven by gains in its commercial property/casualty business and related rate hikes in the sector. The company called it a “record quarter” with...
Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide
Jul 28 2021 // AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central...
MMC Q2 Revenue Up 20%; Marsh Up 23%
Jul 22 2021 // Global insurance and professional services firm Marsh McLennan (MMC) reported financial results for the second quarter ended June 30, 2021, including consolidated revenue of 2021 of $5.0 billion, an increase of 20%...
California Workers’ Comp Report: Private Self-Insured Indemnity Claim Frequency, Paid & Incurred Losses Spiked in 2020
Jul 21 2021 // Workers’ comp claim frequency among California’s private self-insured employers rose in 2020, fueled by a big increase in the incidence of indemnity claims, offsetting a decline in medical-only claim frequency,...
First Half Insured Losses From Natural Disasters Reach 10-Year High
Jul 21 2021 // Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on...
Munich Re Reports Q2 Profit Increase of 90%
Jul 21 2021 // Munich Re’s net profit in the second quarter rose around 90% from a year earlier, beating expectations and giving it confidence of meeting its 2021 profit target. The German reinsurer said in an unscheduled...
Travelers’ Q2 Profit Boosted by Higher Premiums, Lower Catastrophe Losses
Jul 20 2021 // U.S. property and casualty insurer Travelers Cos .Inc. delivered an unusually large beat of second-quarter profit expectations on Tuesday, helped by higher premiums, lower catastrophe losses and a surge in returns from...
German Floods Will Be Expensive but Unlikely to Burn Through Insurers’ Earnings: Fitch
Jul 20 2021 // The recent severe floods in Germany could add up to 5 percentage points to German non-life insurers’ net combined ratios (net claims and expenses to net premiums), according to Fitch Ratings. The insured losses are...
Hurricane Elsa Insured Loss Estimated To Be $290 Million
Jul 14 2021 // Total estimated insured losses on land from Hurricane Elsa will be around $290 million. About $240 million of that was from wind and storm surge in the U.S., while the Caribbean islands suffered about $50 million,...
Michigan Reminds Insurers: ‘Zero-Dollar Claim’ Is Not a Loss
Jul 5 2021 // Michigan insurance regulators in a June 15 bulletin reminded property/casualty insurance companies that relying on a “zero-dollar claim” in their insureds’ loss history is not allowed. In Bulletin...
Why Flood Should be a Covered Cause of Loss in Property Insurance
Jul 5 2021 // There’s something fun about contemplating flood insurance while the ground outside the office is so saturated that it’s like walking on sponges. No. We aren’t having a flood event and even if we were,...
California Workers’ Comp Insurer Losses and Expenses $12B for 2020
Jun 29 2021 // The Workers’ Compensation Insurance Rating Bureau of California has released its latest report on workers’ comp losses and expenses for 2020. Key findings in the report, 2020 California Workers’...
Swiss Re’s iptiQ and German Real Estate Platform Launch Digital Loss-of-Rent Cover
Jun 29 2021 // Swiss Re’s iptiQ and ImmoScout24, Germany’s leading online real estate platform, are launching a loss-of-rent insurance product, which provides private landlords with protection against the financial...
Insured Losses for March’s New South Wales, Queensland Floods Estimated at A$916M
Jun 28 2021 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, disclosed its second industry loss estimate for the New South Wales and Queensland floods, which occurred in March...
Hiscox Agrees to Arbitration Settlement with UK Policyholders over COVID-19 BI Losses
Jun 28 2021 // Hiscox has agreed an arbitration settlement with a group of policyholders over business interruption losses due to the government’s COVID-19 lockdown last year, the Lloyd’s of London insurer said on...
