Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
AIG Estimates Q3 Catastrophe Losses Will Be $1.5 Billion
Oct 18 2018 // American International Group said it expects to report third quarter 2018 catastrophe losses of approximately $1.5 to $1.7 billion. These losses are largely from multiple events in Japan, including Typhoons Jebi and Trami,...
Travelers Q3 Profit More than Doubles on Lower Catastrophe Losses, Higher Premiums
Oct 18 2018 // Third quarter profit more than doubled at Travelers Corp. due to higher premiums and investment income and lower catastrophe losses, the insurer reported. Net income came in at $709 million, up from $293 million for the...
Swiss Re to Post ‘Large’ Q3 Losses from Italy Bridge Collapse, Natural Disasters
Oct 18 2018 // Swiss Re AG said it will post relatively “large” losses from claims in the third quarter, as man-made disasters including the collapse of a bridge in Italy add to damage from storms. Natural disaster claims,...
P/C Insurers Double Net Income in First Half of Year
Oct 16 2018 // U.S. property/casualty insurers saw their net income after taxes more than double to $34 billion in first-half 2018 from $15.5 billion in first-half 2017, with the help of lower catastrophe losses, growing premiums, and an...
Hurricanes Behind Cuts in Earnings Estimates for AIG, Chubb, Other S&P 500
Oct 16 2018 // The S&P 500 has plummeted more than 5 percent since early October. The culprit: slowing earnings growth stemming from rising interest rates and oil prices, according to Goldman Sachs Group Inc. That straightforward...
Karen Clark: Hurricane Michael Losses Could Reach $8B
Oct 15 2018 // Catastrophe modeling firm Karen Clark & Co. (KCC) estimates insured losses from Hurricane Michael will be close to $8 billion, according to the KCC high resolution U.S. Hurricane Reference Model. This estimate includes...
Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
Oct 15 2018 // Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough...
Insurers, Reinsurers Can Handle Hurricane Michael Losses: Fitch
Oct 12 2018 // The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane...
A.M. Best: Insurer Losses from Hurricane Michael Will Be ‘Significant’
Oct 12 2018 // Insurers, reinsurers and ILS investors could face significant losses from Hurricane Michael, a major Category 4 storm that began its assault on the Florida Panhandle Wednesday, according to a briefing from A.M. Best. Best...
London Market Insurers’ Profits Remain Under Pressure with Excess Capacity: Fitch
Oct 11 2018 // The profitability of London market and Lloyd’s insurers is expected to remain under pressure in 2018, despite the fact that rates improved slightly following the catastrophe losses in the second quarter of 2017,...
CoreLogic Estimates Hurricane Michael Losses Could Top $4.5B; Top 10 Insurers Affected
Oct 11 2018 // Hurricane Michael’s torrential rain, storm surge, and hurricane-force maximum sustained winds that reached 140 miles per hour Wednesday could result in a historically devastating event for the northeastern Gulf...
Losses to North Carolina Schools from Florence Worse than Hurricane Matthew
Oct 11 2018 // North Carolina’s public school officials expect damage from Hurricane Florence to well exceed school losses after Hurricane Matthew two years ago, a Department of Public Instruction official told the state’s...
Alaska Marijuana Tax Revenue Hits $1.5M in August
Oct 8 2018 // Monthly marijuana tax revenue in Alaska hit $1.5 million in August, another new high. The state says the only time this year that tax revenue was below $1 million was in February. Cultivators pay the tax, imposed when...
Final Insured Loss for Germany’s Cyclone Xavier in 2017 Estimated at €324M: PERILS
Oct 5 2018 // The final insured property market losses for Extratropical Cyclone Xavier, based on loss data collected from affected insurers, is €324 million ($372.5 million), according to estimates issued by PERILS, the independent...
Japanese Typhoons Put Downward Pressure on Creditworthiness of Insurers: S&P
Oct 4 2018 // The recent run of large natural disasters to hit Japan likely has put downward pressure on the creditworthiness of the nation’s three largest non-life insurance groups, according to S&P Global Ratings in a market...
7 Red Flags to Spot Fraudulent Business Interruption Claims
Oct 1 2018 // Insurance is the safety net that protects individuals and companies in case of damage, theft, injury, illness or loss. Fire, floods, earthquakes, tornadoes and freak accidents can quickly decimate a thriving business. When...
Geopolitical Tensions Cause Rise in Political Risk Losses: Willis Towers Watson Report
Oct 1 2018 // Increasing geopolitical concerns are causing a rise in political risk exposures with 55 percent of global organizations with revenues greater than $1 billion experiencing at least one political risk loss exceeding a value...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Oct 1 2018 // Insurance industry losses from Hurricane Florence, which hit the Carolinas mid-September as a Category 1 storm, will be manageable and not have a severe impact on insurers, according to experts. As the storm turned out to...
Commercial Auto: Profitability Issues Remain, but There’s Light at the End of Tunnel
Oct 1 2018 // Despite insurers’ best efforts to increase rates to compensate for losses, commercial auto continues to be an unprofitable line. In less than a decade, despite continued increases in premiums, two major carriers have...
Australia’s Financial Institutions Put Profit over Customers, Mis-Sold Insurance: Inquiry
Sep 28 2018 // Australia’s big banks and wealth managers pursued profit ahead of their customers’ interests and saw regulatory compliance as a cost rather than a guide to proper conduct, a scathing interim report from a...
