Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Update: AXA Expects Profits to Be Boosted by Its $15 Billion XL Deal
Nov 28 2018 // AXA, Europe’s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia. The French...
Report Puts Losses from California Wildfires at $15B to $19B
Nov 27 2018 // Total losses from the wildfires in Northern and Southern California could reach from $15 billion to $19 billion, a report out on Tuesday shows. The report from industry data provider CoreLogic shows total losses from the...
Latest Estimates of Insured Losses from California Wildfires at $9B to $13B
Nov 19 2018 // Insured losses from the Camp and Woolsey wildfires in California will be between $9 billion and $13 billion, according to the latest estimates from catastrophe modeler RMS. RMS’ latest estimates released on Monday...
Medical Professional Liability Insurers Post Underwriting Loss Again
Nov 19 2018 // U.S. medical professional liability insurers reported an underwriting loss again last year, according to Fitch Ratings in a new report that says the results are drawing more scrutiny around reserves that are shrinking. For...
Preparing to Sell the Agency
Nov 19 2018 // There seems to be an insatiable frenzy of agency acquisitions for many years now, with private equity firms and publicly traded brokers taking the lion’s share. These well-funded buyers are paying a premium well over...
S&P Says Insurers and Reinsurers Can Absorb Losses from California Wildfires
Nov 16 2018 // S&P Global Ratings expects both the primary insurers and reinsurers to be able to absorb losses from the California wildfires, limiting them to an earnings event. However, the mounting bills from more frequents large...
U.S. Multinationals Flee No-Tax Caribbean Havens, in Favor of Low-Tax Havens
Nov 15 2018 // Many U.S. multinational corporations have packed up or are choosing to open subsidiaries in low-tax, rather than no-tax, countries that are seen as more legitimate than the formerly popular island destinations of the...
California Wildfire Insured Losses at Billions of Dollars and Climbing
Nov 12 2018 // An analysis by catastrophe modeler RMS shows 15 wildfires are burning more than 280,000 acres in California have collectively destroyed nearly 7,000 homes and businesses and killed 31 people. Roughly 300,000 have been...
AXIS Capital Estimates 4Q Losses from Hurricane Michael
Nov 9 2018 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Hurricane Michael in the range of $100 million to $120 million, which will affect its fourth quarter financial results. The loss estimate figure...
Allianz’ Q3 Net Profit Surges 24% to €1.94B (US$2.2B)
Nov 9 2018 // Allianz is “highly likely” to reach the upper half of its 2018 profit target range, Chief Financial Officer Giulio Terzariol said as the German insurer cited lower costs and claims in its third quarter results...
Can Commercial Auto Insurers Get to Profit Before Autonomous Vehicles Arrive?
Nov 9 2018 // Commercial auto insurance hasn’t produced an industrywide combined ratio below 105 in the United States since 2010, according to a Guy Carpenter analysis, which says the line’s poor performance is a key factor...
Tallying Losses from October’s Global Catastrophes
Nov 8 2018 // October was a deadly and costly month due to natural catastrophes, with the the U.S. and Europe being hit particularly hard, according to Aon’s Impact Forecasting. Total U.S. economic losses from October’s...
Generali’s 9-Month Net Profit Rises 27% to $2 Billion
Nov 8 2018 // Italy’s top insurer Generali said on Thursday its net profit in the first nine months of the year rose 26.8 percent to beat expectations, lifted by stronger life premiums and disposals. Net profit reached 1.86...
Casualty Losses Provide Impetus for 2019 Rate Firming: Willis Towers Watson
Nov 7 2018 // Commercial insurance buyers are facing upward pricing pressure across most lines of business in 2019, driven in part by escalating losses in the casualty insurance market, according to a report by Willis Towers Watson. The...
Georgia Insured Losses from Hurricane Michael Near $700M
Nov 6 2018 // Georgia’s insured losses from Hurricane Michael have climbed to more than $696 million, with insurers reporting approximately 68,000 claims filed as of the end of October, according to a press release from Insurance...
Alaska Marijuana Tax Revenue over $1M in September
Nov 5 2018 // Marijuana tax collections in Alaska dipped slightly in September but still totaled about $1.5 million. Figures released by the state Revenue Department show tax revenue of $1.48 million in September, compared to $1.54...
Kemper’s Strong Third Quarter Includes Infinity Results
Nov 5 2018 // Kemper Corp. reported net income of $92.2 million for the third quarter of 2018, compared to $47.7 million for the third quarter of 2017. As adjusted for the acquisition in the quarter of nonstandard auto insurer Infinity,...
Berkshire Hathaway Insurance Underwriting Gains in 3Q
Nov 5 2018 // Berkshire Hathaway Inc.’s insurers dodged the worst of losses caused by Hurricane Florence as the businesses kept up their rebound from a rough 2017. The company’s operating profit doubled last quarter,...
Georgia Estimates $250M in Insured Losses from Hurricane Michael
Nov 5 2018 // The Georgia Department of Insurance has estimated insured property losses from Hurricane Michael will reach $250 million, according to a statement by Georgia Insurance Commissioner Ralph Hudgens. In figures released Oct....
AIG Executives Outline Path to Underwriting Profit in 2019
Nov 2 2018 // “We do see it coming. We expect that in 2019 we’re going to be in an underwriting profit position, not a great one, but a profit. And we’ll move from there to a great one.” So said Brian...
