Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
State Farm to Close 11 Offices, Displacing 4,200 Employees, After 2016 $7B Loss
May 4 2017 // State Farm Mutual Automobile Insurance Co., the largest U.S. home and auto insurer, plans to shut 11 U.S. facilities, displacing about 4,200 workers, after a $7 billion annual underwriting loss last year on auto...
Farmer: 32 Cows Killed in Missouri Lightning Strike a $60K Loss
May 4 2017 // A farmer in southern Missouri says he discovered more than 30 of his cows were dead after lightning struck his property. The Springfield News-Leader reports dairy farmer Jared Blackwelder discovered the dead cows Saturday....
Storm Losses Lower Liberty Mutual Profit in Q1
May 4 2017 // Liberty Mutual Holding Company Inc. reported net income of $351 million for the three months ended March 31, 2017, a $42 million or 10.7 percent decline from the same period in 2016. Net written premiums in the quarter...
UK’s RSA Reports 14% Hike in Q1 NWP, Operating Profits Ahead of Plan
May 4 2017 // London-listed insurer RSA reported a 14 percent rise in first-quarter net written premiums on Thursday and said operating profits were ahead of plan, sending its shares higher. Best known in Britain for its More Than...
Swiss Re Q1 Net Income Drops by 45% on Cyclone Debbie Claims
May 4 2017 // Swiss Re reported net income of US$656 million during the first quarter of 2017, a 45 percent drop from $1.2 billion reported in the same period last year. Swiss Re’s Q1 result was hammered by expected claims from...
AIG Returns to Profit in Q1
May 4 2017 // American International Group Inc., one of the largest U.S. insurers, reported better-than-expected first-quarter operating profit on Wednesday, helped by investment returns and cost cuts. AIG reported operating earnings of...
Allstate Q1 Profit Way Up as Auto Line Improves
May 3 2017 // Allstate saw its first quarter profit take a big jump this year to $666 million, up from the $217 million reported for the first quarter of 2016. Total revenue of $9.4 billion in the first quarter of 2017 increased by 6.3...
Allianz Q1 Net Income Down 15.3% to $2B – in Line with 2017 Profit Goal
May 3 2017 // German insurer Allianz is optimistic about its prospects despite a very tough business environment, the German insurer said on Wednesday as it posted a slightly better than expected first-quarter profit. “We are...
Report: South Carolina Workers’ Comp Market Stable With Plenty of Capacity
May 2 2017 // The South Carolina workers’ compensation market is strong, according to the state department of insurance’s most recent report, as the first reform to the state’s workers’ comp system in almost a...
CNA Results Improved in Q1
May 1 2017 // CNA Financial Corp. announced first quarter 2017 net income of $260 million and net operating income of $235 million, compared to $66 million and $91 million for the first quarter 2016. Property & Casualty...
Report: South Carolina Workers’ Comp Market Stable With Plenty of Capacity
May 1 2017 // The South Carolina workers’ compensation market is strong, according to the state department of insurance’s most recent report, as the first reform to the state’s workers’ comp system in almost a...
How Future Tech Could Change Risk and Loss: Allianz Report
May 1 2017 // Technology is expected to be a major driver of liability claims in the years ahead – cutting frequency and increasing new threats such as cyber, product liability and recall risk, according to a report published by...
Commercial Auto – The Long Road to Profitability
May 1 2017 // The commercial auto market has a long road ahead to reach profitability after five consecutive years of underwriting losses from 2011-2015. While many insurers upped rates in 2016, the year appears to be coming in with...
The Hartford Reports Improved Q1 Results
Apr 28 2017 // The Hartford reported first quarter 2017 net income and core earnings of $378 million compared with net income of $323 million and core earnings of $385 million in first quarter 2016. Net income rose 17 percent to $378...
Marsh Reports 5% Revenue Growth in Q1
Apr 27 2017 // Marsh & McLennan Companies Inc. (MMC) reported financial results for the first quarter ended March 31, including 5 percent revenue growth at Marsh and 4 percent at Guy Carpenter, its Risk and Insurance...
Despite ‘Difficult’ Environment, Chubb Q1 Profit Tops $1 Billion
Apr 26 2017 // Chubb Limited reported net income for the quarter of $1.09 billion, compared with $439 million for the same quarter last year. Operating income was $1.17 billion, compared with $1.01 billion, for the same quarter last...
Massive Maryland Fire Leads to Estimated $39M Loss
Apr 26 2017 // Firefighters were still dousing hot spots Tuesday after a massive fire at a seven-story apartment building under construction near the University of Maryland. News outlets reported that firefighters were working to keep...
Allied World to Offer Drone Loss Control Services to Policyholders
Apr 21 2017 // Allied World North America has expanded its risk management offerings to policyholders to include access to discounted unmanned aerial systems (UAS) services through DataWing, a UAS service provider led by former U.S. Air...
Private Firms Lose Privacy When Liability Battles Reach Courtroom
Apr 21 2017 // “It’s like a Kardashian episode.” That outburst from an unidentified person spoke to the fact that private companies can make their affairs very public in bitter courtroom battles over management...
Allstate’s Catastrophe Losses Topped $780 Million in Q1
Apr 20 2017 // The Allstate Corp. announced estimated catastrophe losses for the month of March 2017 of $516 million, pre-tax ($335 million after-tax), and an estimated $781 million, pre-tax ($508 million after-tax), for first quarter...
