Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Report: Loss of Soil Strength Likely Led to Michigan Dam Collapses
Sep 15 2021 // A sudden loss of soil strength under saturated conditions most likely caused two Michigan dams to collapse last year and contributed to flooding that forced evacuations of about 10,000 people, an interim report...
New Mexico Cattle Ranchers Suffer Losses from Western Drought
Sep 14 2021 // State Sen. Pat Woods saw a lot of it over this past year – cows culled from a herd and sent to the slaughterhouse because their owners couldn’t afford to feed them anymore. “It was awfully dry,” said...
AIR Says Hurricane Ida Insurance Losses Could Reach $30 Billion
Sep 13 2021 // Modeling firm AIR Worldwide has updated its insured loss estimates for Hurricane Ida and now projects that Ida’s insured industry losses will range from $20 billion to $30 billion. The estimate includes inland flood...
KCC Estimates Sept. 7 Mexico Earthquake Insured Losses at $200M
Sep 13 2021 // The impact from the the strong (magnitude 7.0) earthquake that occurred Sept. 7 near Acapulco City, Mexico is expected to be moderate, with insured losses of about $200 million, according to catastrophe modeling firm Karen...
Offshore Energy Firms Warned of Insurance Limits for Ida Losses
Sep 10 2021 // Offshore energy firms are likely to face greater financial losses from Hurricane Ida than from previous storms in the Gulf of Mexico, because of reduced coverage offered by insurers, risk modeling firm RMS said on...
Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio
Sep 9 2021 // Lloyd’s of London reported pre-tax profit of £1.4 billion (US$1.9 billion) for the first half of 2021, compared to a £400 million (US$550.8 million) loss during H1 2020. The market’s profit was driven by a...
RMS: Up to $35B in Gulf Region Onshore, Offshore Insured Losses From Ida
Sep 8 2021 // Catastrophe risk specialist, RMS, estimates onshore and offshore U.S. insured losses from Hurricane Ida in the Gulf of Mexico region to be between $25 billion and $35 billion. RMS’ estimate includes losses to the...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Sep 6 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
Review: In Netflix Drama ‘Worth,’ Feinberg Grapples With Personal Losses of 9/11
Sep 3 2021 // “What is life worth?” asks Washington lawyer Kenneth J. Feinberg (Michael Keaton) in the opening scenes of the based-on-a-true-story drama “Worth,” while writing the question on a blackboard for a...
AIR Worldwide Estimates Insured Losses for Hurricane Ida Could Be Up to $25 Billion
Sep 3 2021 // Insurance industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from $17 billion to $25 billion. AIR’s modeled insured loss estimates include insured...
Insurance Industry Will Withstand Ida’s Losses in Louisiana, Neighboring States: Analysts
Sep 2 2021 // Though estimates of Hurricane Ida’s impact on the insurance industry vary, both AM Best and S&P Global Ratings say losses will be manageable for insurers and that no rating actions are expected as a result of the...
Newly-Public Ryan Specialty Group Reports Strong Q2 Results
Sep 2 2021 // Ryan Specialty Group Holdings, Inc., which completed its initial public offering on July 26, announced results for the second quarter including 58.3% growth in total revenue year-over-year to $390.0 million, compared to...
Analysts Foresee Modest Economic Damage in U.S. From Ida; Peg Insured Losses at $10B
Aug 31 2021 // With more than 1 million customers in Louisiana and Mississippi having lost power, Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast. But the...
Ping An Insurance Profit Falls on Land Developer Investments
Aug 27 2021 // Ping An Insurance Group Co. of China, China’s largest insurer by market value, reported a 15.5% fall in first-half net profit after a 20.8 billion yuan ($3.2 billion) loss suffered on investments in beleaguered...
KCC Estimates Insured Loss From Hurricane Grace: $300M in Mexico, $30M in Caribbean
Aug 26 2021 // Catastrophe modeling firm the Karen Clark & Company (KCC) estimates that the insured loss to onshore properties from Hurricane Grace will be around $330 million—$300 million in Mexico and $30 million in the...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS
Aug 23 2021 // RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion...
Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s
Aug 19 2021 // The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a result of lower...
Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.
Aug 17 2021 // The large 7.2 magnitude earthquake, which hit Haiti on Aug. 14, is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC). While the insured losses from this event...
Global Insured Disaster Losses Reach US$42B in H1 as 2nd Highest on Record: Swiss Re
Aug 13 2021 // Estimated insured losses from natural catastrophes reached US$40 billion during the first half – driven by a deep winter freeze, hailstorms and wildfires, while man-made disasters triggered another estimated US$2 billion...
