Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Swiss Re Will Absorb Poor 2019 Earnings, Says S&P
Feb 21 2020 // S&P Global Ratings said that even though Swiss Re performed materially below expectation for its 2019 earnings, the ratings agency expects the group to maintain its risk-based capital above the “AA” level,...
UK Insurers Could See Underwriting Losses After Storms Ciara, Dennis: Fitch
Feb 21 2020 // Losses from storms Ciara and Dennis, which brought strong winds, torrential rain and widespread flooding to the UK, will increase pressure on UK household insurers’ profits in 2020, said Fitch Ratings. While the...
Allianz Raises 2020 Profit Target After 9.5% Jump in Q4 Results
Feb 21 2020 // German insurance group Allianz announced a more ambitious profit target for this year after posting a better than expected 9.5% jump in fourth-quarter net profit on Friday. The profit increase was largely driven by an...
PG&E Banking on Big Profits After Utility Leaves Bankruptcy
Feb 20 2020 // Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated...
Swiss Re 2019 Profit Hit by Natural Disasters, U.S. Casualty Claims
Feb 20 2020 // Reinsurer Swiss Re reported on Thursday a smaller-than-expected profit in 2019 due to claims for a series of man-made and natural disasters, as well as expenses for its U.S. casualty business, sending its shares lower. Net...
AXA Lowers 2020 Profit Guidance for XL Unit
Feb 20 2020 // French insurer AXA lowered its 2020 profit guidance for its companies-focused XL unit and named a new boss for the division, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become...
United Fire in Iowa Reports 4Q Earnings Loss
Feb 19 2020 // United Fire Group Inc. on Tuesday reported a loss of $23.2 million in its fourth quarter. On a per-share basis, the Cedar Rapids, Iowa-based company said it had a loss of 93 cents. Losses, adjusted for investment gains,...
4Q Earnings Briefs: Trupanion, United Fire, FNF
Feb 19 2020 // Trupanion Trupanion Inc. (TRUP) reported fourth-quarter net income of $636,000, after reporting a loss in the same period a year earlier. The Seattle-based company said it had profit of 2 cents per share. The results...
RLI to Offer Samsara IoT Loss Control Services to Trucking, Commercial Auto Clients
Feb 19 2020 // RLI Transportation, a division of RLI Insurance Company, has partnered with Samsara, an industrial IoT company that provides sensors and software to manage vehicle fleets and industrial operations. The partnership will...
Insured Losses for Europe’s Storm Ciara-Sabine Could Hit $2 Billion: Modeling Firms
Feb 14 2020 // Catastrophe risk modeling firm AIR Worldwide estimates that insured losses due to wind from Europe’s winter storm Ciara (also known as Sabine) will range between €1.1 billion and €1.9 billion (US$1.2 billion and...
AIG and P/C Underwriting Post Profit for Q4
Feb 13 2020 // American International Group reported fourth quarter 2019 net income of $922 million compared to a net loss of $622 million in the prior-year quarter. The results reflected improvement in its closely-watched General...
Argo Warns of $114M Underwriting Loss, Extra Costs From Watson’s Departure
Feb 13 2020 // Argo Group International Holdings Ltd. is warning that its 2019 fourth quarter will feature some “unacceptable” results, particularly a $114 million underwriting loss. Separately, there are also added expenses...
Insured Property Losses from Australia’s Townsville Floods in 2019 Hit A$1.24B: PERILS
Feb 11 2020 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed its fourth and final property loss estimate for the flood event which hit northern Queensland,...
California-Based Mercury General Reports 4Q Profit of $31.7M
Feb 11 2020 // Mercury General Corp. on Monday reported fourth-quarter profit of $31.7 million. On a per-share basis, the Los Angeles-based company said it had profit of 57 cents. Earnings, adjusted for investment gains, came to 21 cents...
Why Utilities Are Turning to Bond Market to Pay for Natural Disaster Losses
Feb 11 2020 // Fires and floods are sending some of the nation’s largest utilities to the bond market to cover huge, unexpected bills. California’s PG&E Corp., which was forced into bankruptcy a year ago after its...
Another Federal Circuit Finds Phishing Loss Covered Under Crime Policy
Feb 11 2020 // Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While...
Australian Insurers Declare Catastrophe for Losses from East Coast Flooding
Feb 10 2020 // The Insurance Council of Australia (ICA) has declared a catastrophe for property losses caused by storms and flooding along the east coast since February 5. Insurers said they have received 10,000 claims with the value of...
Workers’ Compensation Is Doing Well. Is It Time to Worry?
Feb 10 2020 // Although workers’ compensation results remain strong — and the line continues to outperform all other commercial insurance lines — worries about continued soft pricing and loss reserve levels for...
Take a ‘Deep Dive’ Into the Nonprofit Sector: Nonprofits Treading Water as Market Hardens
Feb 10 2020 // The task of insuring nonprofit organizations is a complex one and agents, brokers, underwriters and carrier representatives say that in order to fully serve those entities that serve our communities in myriad ways,...
The Hartford’s 2019 Acquisition of Navigators Pays Off
Feb 5 2020 // The Hartford closed out 2019 with gains in net income and net investment income, buttressed in part by its $2.1 billion acquisition of specialty insurer Navigators Group last May. Net income hit $543 million, or $1.49 per...
