Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Here’s What the House Has in Mind for Revamping Flood Insurance Program
May 26 2017 // A much-anticipated House subcommittee proposal on flood insurance promises to reauthorize the National Flood Insurance Program (NFIP) for five years beyond its September 30 expiration date. The proposal would introduce...
Report: Climate Change to Increase Insured Losses from Windstorms in the U.K.
May 25 2017 // Climate change will drive up wind losses in the U.K. in coming years, according to a recent report from the Association of British Insurers, the Met Office, and Boston, Mass.-based catastrophe modeler AIR Worldwide. The...
P/C Insurance Industry Again Reports Underwriting Loss in Q1
May 25 2017 // The U.S. property/casualty industry posted a first-quarter 2017 net underwriting loss of $841.5 million, according to preliminary financial results, continuing the industry’s underwriting loss trend seen in 2016. The...
Insured Losses for Europe’s Windstorm Thomas Rise to $279.2M: PERILS
May 23 2017 // The latest property insured loss estimate for Windstorm Thomas, which on Feb. 23-24 hit the British Isles, the Netherlands, Belgium and Germany, is €249 million (US$279.2 million), according to PERILS, the independent...
Private Equity Firm Carlyle Sues Insurers Over Oil Losses
May 22 2017 // Julia Payne U.S. private equity firm Carlyle Group is suing a group of its insurers over $400 million worth of oil it claims it lost when Morocco’s sole refinery went bankrupt two years ago, court documents...
Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses
May 19 2017 // Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,”...
Toyota, BMW, Mazda, Subaru Settle Takata Airbag Economic Loss Claims
May 19 2017 // Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million recalled vehicles with potentially defective Takata airbag inflators, court documents...
Eastern Wisconsin Farmers Experience Significant Alfalfa Losses
May 16 2017 // Unusual seasonal weather variations have made it tough on alfalfa crops in some parts of Wisconsin. A warmer-than-usual winter and a cold wet spring have caused a significant portion of the alfalfa crop to fail in...
Minding Your Business: Preparing for the Loss of a Producer
May 15 2017 // Recently, a client of ours had two producers leave to start their own agency. The impact on the agency was significant. These two producers generated about half the agency commissions. The owner was scrambling to adjust to...
Storm-Related Arkansas Crop Losses Estimated at $64.5M
May 15 2017 // Flooding and severe weather this year have caused an estimated $64.5 million in damage to Arkansas croplands, according to the University of Arkansas System Division of Agriculture. Some 937,000 acres of cropland have been...
Allianz Q1 Profit Boosted by Strongest PIMCO Inflows in 4 Years
May 12 2017 // Pacific Investment Management Co., the bond manager owned by German insurer Allianz SE, saw its biggest third-party inflows in four years in the first quarter as clients flocked to Chief Investment Officer Dan...
Bermuda Re/Insurers Hit by Ogden Rate Change, Higher Nat Cats: S&P
May 12 2017 // A big change in the Ogden rate in the UK and higher natural catastrophe losses are dampening a wide range of Bermuda-based insurer and reinsurer results in the 2017 first quarter, Standard & Poor’s said in a new...
Texas’ State National Companies: Revenues Up in Q1 2017
May 11 2017 // State National Companies Inc., a Bedford, Texas-based specialty provider of property/casualty insurance services, reported an 18 percent increase in total revenues for the first quarter ended March 31, 2017. The company...
Generali Plans Expansion in Asset Management to Boost Profits
May 11 2017 // Generali is looking to buy portfolio management teams to expand its asset management operations and beef up its fee-based business, the Italian group said after reporting a 9 percent fall in first-quarter profits on...
Transamerica Owner Aegon’s Profits Up; Shares Drop on Solvency Concerns
May 11 2017 // Aegon, the Dutch insurer that does most of its business in the United States, on Thursday reported first-quarter net income of 378 million euros ($411 million), helped by the performance of its investment...
How AIG Woes Hurt U.S. Commercial Lines Results: Fitch
May 10 2017 // While U.S. commercial lines insurance had been a relatively bright spot among property/casualty insurers, the sector is facing some clear deterioration due to weakening premiums and poor loss experience. What’s more,...
Munich Re & Hannover Re Results on Track Despite Higher Nat Cat Claims
May 10 2017 // Reinsurers Munich Re and Hannover Re both reported that first quarter results are on track to meet their annual targets, despite Q1’s higher level of catastrophe claims. Munich Re reported consolidated first quarter...
U.S. Weather Remains Biggest Driver of Global Insurance Losses in 2017: Aon
May 10 2017 // Severe weather in the U.S. remains the largest contributor to global insurance losses in 2017 after April continued the trend with multi-billion dollar losses for public and private insurers, according to Impact...
Insurance Losses Erode Berkshire Hathaway Q1 Profit
May 7 2017 // Berkshire Hathaway Inc , the conglomerate run by billionaire investor Warren Buffett, reported a 27 percent decline in first-quarter profit on Friday, and said a loss from insurance underwriting contributed to operating...
Louisiana Commissioner Requests Flood Insurance Proof of Loss Extension
May 5 2017 // Insurance Commissioner Jim Donelon has asked the Federal Emergency Management Agency (FEMA) to further extend the filing deadline for Louisiana policyholders impacted by the August flood. FEMA’s National Flood...
