Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Texas Windstorm Association Seeking $175M Assessment for Harvey Losses
May 9 2018 // The board of directors of the Texas Windstorm Insurance Association has authorized staff to seek regulatory approval for a $175 million assessment to TWIA’s insurance company members for losses associated with...
Miami Beach Looking at Parametric Insurance Policy to Cover Budget Shortfalls
May 7 2018 // Miami Beach’s tourism industry has suffered one blow after another in recent years. First, Brazil’s economy tanked and a strong U.S. dollar prompted would-be international travelers to stay home. Then Zika...
Cyber Insurers Say Underwriting Is Profitable, For Now
May 7 2018 // Carriers say that cyber insurance is quite profitable for them at the moment, and a majority are also using reinsurance to manage their exposures, PwC found in a global survey of specialist writers. The consulting...
Small Businesses Hampered by Uninsured Losses After 2017 Hurricanes: Fed Reserve
May 7 2018 // Small businesses in the United States struggled with uninsured damages and lost revenue following a record-breaking year of hurricanes and wildfires in 2017, according to a Federal Reserve survey published in April. The...
Berkshire Hathaway Reports Q1 ‘Accounting’ Loss But Insurance Profit
May 6 2018 // Warren Buffett lost money but had a pretty good quarter. Berkshire Hathaway Inc. on Saturday reported an unusual quarterly net loss, the result of an accounting change that Buffett had warned would produce...
New Accounting Rule Could Serve Up Surprises at Buffet’s Berkshire Annual Meet
May 4 2018 // Berkshire Hathaway Inc. investors should get ready for a bumpy ride. Warren Buffett’s company is scheduled to report earnings Saturday morning before its annual meeting, and a new accounting rule could sink results....
Cat Losses Cut Into AIG Q1 Profit
May 3 2018 // American International Group Inc. reported a 21 percent decline in first-quarter profit on Wednesday, due to higher catastrophe and bad weather claims, as well as weaker investment income. The insurer posted $938 million,...
AIG Acquisition Target Validus Reports Q1 Loss
May 3 2018 // Validus Holdings reported it lost money during the 2018 first quarter, due partly to more expenses, an underwriting loss in its insurance segment and a drop in income for the carrier’s reinsurance arm. The downbeat...
The Hartford Reports Big Profit Gain in Q1; Record New Commercial Business
May 2 2018 // The Hartford reported a big rise in net income for the 2018 first quarter, crediting improved overall underwriting results, lower catastrophe losses, a boost in net investment income and tax reform. Net income for the...
Acquisition of Novae Boosts Q1 Results for AXIS Capital
May 1 2018 // AXIS Capital Holdings saw its first-quarter net income and premium volume jump considerably, year-over-year, gains driven largely from its $611.5 million acquisition of Novae Group plc in late 2017. The Bermuda-based...
Insurers Say Cyber Insurance Underwriting Is Profitable for Now: PwC
Apr 26 2018 // Carriers say that cyber insurance is quite profitable for them at the moment, and a majority are also using reinsurance to manage their exposures, PwC found in a global survey of specialist writers. The consulting...
Pennsylvania Court Awards Summary Judgment to Insurer Accused of Bad Faith
Apr 26 2018 // A judge in the U.S. District Court for the Western District of Pennsylvania awarded summary judgment to an insurer accused of bad faith after denying a man’s claim for losses exceeding $1 million when a fire...
‘Best Pricing in Quite Some Time’ Helped Chubb Weather Catastrophes for Solid Q1
Apr 25 2018 // Despite higher catastrophe losses, Chubb Limited reported a solid first quarter with net income of $1,082 million, about the same as the $1,093 million it achieved for the same quarter last year. Core operating income was...
The Simple Reason Homeowners’ Customers Need Replacement Cost
Apr 25 2018 // I’ve been thinking a lot about homeowners’ insurance lately. That might be because I’m in the middle of the BPIC (Basic Personal Insurance Course) and the last two sessions have been focused on...
Travelers Boosts Q1 Profit; Talks Central Underwriting, Potential with Nationwide Agents
Apr 24 2018 // The Travelers Companies boosted its net income for the quarter ended March 31, 2018, by 10 percent to $669 million compared to $617 million in the prior year quarter despite unusually high catastrophe losses in...
Markets Not Getting Better at Insuring Disasters: Viewpoint
Apr 24 2018 // Last year was the second-costliest year for disasters since 1970, according to a new analysis from reinsurance firm Swiss Re AG. Global economic losses from these events reached $337 billion in 2017, behind only...
Reinsurance Capacity Remains Abundant for Mid-Year Renewals: Aon Benfield
Apr 18 2018 // Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital...
Insured Losses from Europe’s Storm Friederike Rise to €1.63B (US$2.0B): PERILS
Apr 17 2018 // PERILS AG has issued its second loss estimate of €1.63 billion for Europe’s windstorm Friederike, also known as David. Friederike caused property damage in the British Isles, Belgium, the Netherlands and Germany on...
United Educators Reports Reveal Large Losses in Education
Apr 17 2018 // Bethesda, MD, April 17, 2018—United Educators (UE), a reciprocal risk retention group that insures education, released its Large Loss Report 2018, which contains summaries of major damage awards and settlements of...
Insurance Helps Michigan Company Rebuild After $20M Fire Loss
Apr 16 2018 // A “horrific” fire that started on March 14, 2017, has made one Muskegon, Michigan, company “stronger.” The foundry fire at Muskegon Casting Corp. rendered the 75,000-square-foot building and all...
