Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
S&P: Primary P/C Insurers, Not Reinsurers, to Bear Brunt of Harvey’s Insured Losses
Aug 29 2017 // While it’s too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers — as opposed to reinsurers — would retain the majority of losses, according to analysts at...
Harvey’s Insured Losses Hurt Insurers’ Stocks, Could Boost Reinsurers’ Prices
Aug 29 2017 // Hurricane Harvey’s whipsaw of wind and rain across Houston and the Texas Gulf Coast hurt the shares of U.S. property and casualty insurers on Monday as Wall Street analysts estimated insured losses as high as $20...
NCCI Files 10% Reduction in Workers’ Comp Loss Costs for West Virginia
Aug 29 2017 // West Virginia employers will see a projected $21 million reduction in workers’ compensation premiums in the coming year, according to a recent statement from Gov. Jim Justice. The National Council on Compensation...
25 Years Later…What If an Andrew-Type Storm Hit Florida Today?
Aug 28 2017 // Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of...
Hurricane Harvey’s Flood Insurance Losses Could Match Katrina’s
Aug 28 2017 // Flood damage in Texas from Hurricane Harvey may equal that from 2005’s Hurricane Katrina, the costliest natural disaster in U.S. history, said an insurance research group on Sunday. As heavy rain pounded Houston and...
Insurance Adjusters Mobilized to Deal with Harvey Cat Losses
Aug 27 2017 // Teams of insurance adjusters were mobilized Friday in Texas cities closest to Hurricane Harvey’s expected path of destruction. Hurricane Harvey made landfall late Friday evening as a category 4 hurricane. According...
Insured Losses for August 2016’s Italy Quake Revised Upward to $127.4M: PERILS
Aug 25 2017 // The final property insurance market loss estimate for the magnitude 6.0 earthquake that hit Central Italy on Aug. 24, 2016 has increased to €108 million (US$127.4 million), according to PERILS, the independent...
California Hospital Workers’ Comp Survey Shows Moderating Losses, Higher Adjustment Expenses
Aug 24 2017 // A survey from 18 hospital systems and more than 44 individual facilities within California shows average losses paid per indemnity claim rose 2.9 percent annually over the past 10 years. Keenan HealthCare and actuarial...
PERILS Insured Loss Estimates for Storm Thomas Unchanged at $293.2M
Aug 23 2017 // PERILS AG has disclosed its third loss estimate for windstorm Thomas, also known as Doris, which affected the British Isles, the Netherlands, Belgium and Germany on Feb. 23-24, 2017. The third estimate of the property...
JLT Re Taps Bardon as Bermuda Partner, Working with Industry Loss Warranty Team
Aug 21 2017 // JLT Re, the London-based reinsurance broker and consultancy, has appointed Nicolas Bardon as a partner in JLT Re’s Bermuda operation reporting to Guy Hengesbaugh. Bardon will work closely with Gary Reynolds and...
QBE H1 Profits Rise 73% on Australia/N. Zealand Rate Hikes, N. America Growth
Aug 21 2017 // QBE reported a healthy profit hike during first half of 2017, despite heightened claims activity in its Emerging Markets’ division, which reported a combined ratio of 110.8 percent. This poor performance has led to...
Minding Your Business: The Tale of Two Values
Aug 21 2017 // It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…” This opening line in Charles Dickens novel “A Tale of Two Cities” summarizes the...
Global Insured H1 Losses from Natural, Man-Made Disasters Were $23B: Swiss Re
Aug 18 2017 // Global insured losses from natural catastrophes and man-made disasters in the first half of 2017 totaled US$23 billion, while economic losses during the same period came to US$44 billion – an indication of the extent of...
China’s Ping An Reports Biggest Half-Yearly Profit in Decade
Aug 17 2017 // Ping An Insurance Group Co of China , the country’s second-largest insurer by market value, on Thursday reported its biggest half-yearly profit in at least a decade on robust growth in life insurance premiums. The...
Reinsurers More Likely to Report Natural Disaster Underwriting Losses: S&P
Aug 15 2017 // Things could get rougher for global reinsurers if annual natural catastrophe claims keep moving closer to the long-term average, Standard & Poor’s said in a new report. It turns out that upward trend has been...
Zurich Reports 21% Hike in Net Income as Restructuring Program Takes Hold
Aug 11 2017 // Zurich Insurance says its restructuring program is on track to achieve its goals over the next few years, continuing its work on cutting expenses, stabilizing its property and casualty business and rebalancing its...
Canada’s Economical Offers Cyber Cover for Business Losses After Data Breaches
Aug 7 2017 // Economical Insurance has launched cyber coverage that is available to commercial policies to support Canadian businesses in the event of a data breach. Called “EXPERT Cyber,” the Economical product provides...
Michigan Facing $2B Budget Squeeze in State’s General Fund
Aug 7 2017 // Tax cuts, increased road construction, past economic development incentives and other factors will combine to reduce or divert state revenue by $2 billion annually in just over four years _ the equivalent of 20 percent of...
Berkshire Hathaway Reports Losses on Re/Insurance Underwriting in Q2
Aug 7 2017 // Warren Buffett’s Berkshire Hathaway insurance and reinsurance businesses lost money or gained less in underwriting in the second quarter and first six months of 2017 compared to last year while his railroad,...
‘Specialize and Diversify,’ Industry Veteran Markel Tells Super Regional Insurers
Aug 7 2017 // Insurance is a very simple business. “You take in some money, you spend some money and you lose some money, and God willing, you have some left at the end of the day,” according to Anthony (Tony) Markel, vice...
