Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Liberty Mutual Reports Q2 Loss on COVID-19 Event Cancellations, Storms, Downturn
Aug 6 2020 // Liberty Mutual Holding Co. reported a net loss of $320 million for the second quarter versus net income of $397 million for the same quarter last year. The loss reflected the impact of COVID-19, catastrophes and the...
Arthur J. Gallagher Reported 2Q Profit of $153.7M
Aug 5 2020 // Arthur J. Gallagher & Co. reported second-quarter profit of $153.7 million. The Rolling Meadows, Ill.-based company said it had net income of 79 cents per share. Earnings, adjusted for non-recurring costs, were 94...
Allianz’ Net Profit Drops 29% in 2nd Quarter Amid COVID-19 Crisis
Aug 5 2020 // German insurer on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic slows business and clouds the...
CNA Financial Reports Second Quarter Profit of $151M
Aug 4 2020 // CNA Financial Corp. on Monday reported second-quarter profit of $151 million. On a per-share basis, the Chicago-based company said it had net income of 55 cents. Earnings, adjusted for investment gains, were 36 cents per...
Mercury General in California Reports 2Q Earnings of $228M
Aug 4 2020 // Mercury General Corp. on Monday reported second-quarter earnings of $228.2 million. The Los Angeles-based company said it had net income of $4.12 per share. Earnings, adjusted for investment gains, were $1.86 per...
UK Insurer Direct Line’s H1 Profits Beat Forecasts as Auto Claims Drop During Lockdown
Aug 4 2020 // Insurer Direct Line gave a double bonus to shareholders on Tuesday as first-half profits beat expectations due to a slump in motor claims as Britons drove less during the coronavirus lockdown. Britain’s biggest car...
AIG Q2 Profit Falls on Higher Catastrophe Losses, Lower Private-Equity Returns
Aug 4 2020 // Insurer American International Group Inc. on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns. Adjusted after-tax income attributable to...
Amerisafe in Louisiana Reports Higher Than Expected Earnings
Aug 3 2020 // Amerisafe Inc. (AMSF) reported second-quarter net income of $23.9 million. On a per-share basis, the Deridder, Louisiana-based company said it had net income of $1.24. Earnings, adjusted for non-recurring gains, came to $1...
The Hartford Achieves Q2 Profit; Next Up Is Cutting Jobs, Investing in IT to Trim Expenses
Jul 31 2020 // The Hartford emerged from the second quarter’s COVID-19 related challenges with an overall profit and a plan to reduce expenses through “headcount reductions,” information technology investments and other...
Insurers’ $158 Billion CLO Bet Is Putting the Industry at Risk
Jul 31 2020 // They’ve been billed as a solution to the rock-bottom interest rates weighing down the returns of America’s asset managers. Collateralized loan obligations — which package and sell leveraged loans into...
Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact
Jul 31 2020 // Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines...
Swiss Re Confirms H1 Loss of $1.1B with Combined Ratio of 115.8%
Jul 31 2020 // Reinsurance company Swiss Re said on Friday the $2.5 billion in claims and reserves related to COVID-19 that it booked in the first half of the year would likely cover the bulk of its pandemic-related losses. The...
RMS Estimate: Insured Losses from Hurricane Hanna Won’t Exceed $400M
Jul 30 2020 // Catastrophe risk products and services company, Risk Management Solutions Inc. (RMS), has estimated that insurance losses in the U.S. from Hurricane Hanna will not exceed $400 million. This estimate represents insured...
Marsh & McLennan Profit Up in Q2; CEO Sees Aon-Willis Merger ‘Good’ for MMC
Jul 30 2020 // The pending acquisition by insurance broker Aon of rival Willis Towers Watson is “not good for the market or for clients but is good for Marsh & McLennan,” commented Daniel Glaser, president and chief...
Generali’s First Half Net Profit Drops 56.7% with COVID Hit
Jul 30 2020 // Generali’s first half net profit dropped by 56.7% to €774 million ($909.8 million), compared with €1.8 billion (US$2.1 billion) reported for the same period in 2019. The combined ratio improved to 89.5% (91.8% in...
Hanover Insurance Sees Profit Jump, Limited COVID Impact in Q2
Jul 29 2020 // The Hanover Insurance Group Inc. reported net income of $115.2 million in the second quarter of 2020, compared to $74.0 million in the prior-year quarter. The insurer said it has experienced limited COVID-19-related loss...
COVID-19 Costs Push Chubb to $331M Loss in Q2
Jul 29 2020 // The coronavirus pandemic has forced global insurer Chubb’s net income to plunge, and in the second quarter, fall to a sizable loss. Chubb lost $331 million compared to net income of more than $1.1 billion during the...
Karen Clark & Co. Estimates $350M Insured Loss from Hurricane Hanna
Jul 28 2020 // Catastrophe risk modeling firm, Karen Clark & Company (KCC) has estimated the insured loss from Hurricane Hanna, which made landfall on Padre Island, Texas, on July 26, will be close to $350 million, excluding National...
Global Natural Catastrophe Losses During H1 Ranged from $68B to $75B: Munich Re, Aon
Jul 24 2020 // Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural...
Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural...
