Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Run-off Specialist Premia Completes Loss Portfolio Transfer With Hiscox
Aug 17 2022 // Premia Holdings Ltd., the Bermuda-based run-off specialist, announced that Premia Syndicate 1884 has entered into a loss portfolio transfer agreement with Hiscox Syndicate 33. The portfolio consists of a diverse mix of...
3M Faces $100 Billion in Losses From Veterans’ Earplug Suits, Expert Says
Aug 16 2022 // 3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the...
Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims
Aug 12 2022 // NN Group’s core profit fell 12.1% year-on-year in the first half of 2022, the Dutch insurer said on Thursday, citing the impact of weather events and the sale of its asset management arm. Operating profit came in at...
Update: Zurich Reports 25% Increase in H1 Operating Profit, Beating Expectations
Aug 11 2022 // Zurich Insurance Group reported a better-than-expected 25% rise in operating profit in the first half on strong performance across the board and announced a bumper 1.8 billion Swiss francs ($1.91 billion) share buyback on...
UK Insurer Aviva Posts 14% Rise in H1 Operating Profit
Aug 11 2022 // Aviva plans to return more cash to shareholders, the British insurer said as it posted a better-than-expected 14% rise in first-half operating profit, sending its shares to the top of the FTSE 100 gainers on...
Lemonade Records Another Q2 Loss, Changes Pace For Profitability
Aug 9 2022 // Insurtech Lemonade said it booked a second quarter net loss of $67.9 million compared with a net loss of $55.6 million during the same quarter last year, but in a letter to shareholders the company said returns will soon...
Florida’s Heritage, UPC Report Losses, Changes for Q2; No Word on UPC Sale
Aug 9 2022 // Two major Florida P&C insurers have announced second-quarter financial results. The news is a mixed bag, and was not unexpected. In an earnings call Monday, executives with publicly traded United Insurance Holdings...
Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
Aug 9 2022 // Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by...
CNA Hardy Online Raises Attachment Points for Excess-of-Loss Cover to £150M
Aug 9 2022 // CNA Hardy, the specialist commercial insurer that writes business within the Lloyd’s and company markets, announced increased flexibility in the attachment points available from its online excess-of-loss platform. By...
AIG Exceeds Profit Estimates on Strong Underwriting Gains
Aug 9 2022 // Insurer American International Group Inc. beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the company’s...
Brazil’s BB Seguridade Posts 86.6% Rise in Q2 Net Profit
Aug 9 2022 // Brazilian insurer BB Seguridade Participacoes SA on Monday increased its full-year outlook, citing higher-than-expected growth in written premiums as it posted an 86.6% rise in net profit in the second quarter. Shares in...
Berkshire Hathaway Posts $43.8 Billion Loss as Stock Holdings Tumble
Aug 8 2022 // The slide in U.S. stock prices punished Berkshire Hathaway Inc’s bottom line in the second quarter, as the conglomerate run by billionaire Warren Buffett on Saturday reported a $43.8 billion loss. Berkshire...
Net Loss of $343 Million for Liberty Mutual in Q2
Aug 4 2022 // Liberty Mutual Holding Co. said it recorded a second quarter net loss of about $343 million compared with net income of nearly $770 million during the same period a year ago. CEO David H. Long said results were affected by...
Allstate ‘Further Accelerating’ Rate Hikes Following Q2 Loss
Aug 4 2022 // Allstate Corp. said it is accelerating its plan to increase auto insurance rates as it reported unprofitable results for the second quarter. Allstate booked a net loss of $1.04 billion in the second quarter compared with a...
G7 Nations Mull Options to Deprive Moscow of Bumper Oil Profits
Aug 3 2022 // The Group of Seven (G7) wealthy nations is looking at blocking the transportation of Russian oil among other options to deprive Moscow of bumper revenues amid its invasion of Ukraine, unless it heeds a price cap. In a...
French Insurer AXA Posts 3% Rise in H1 Net Profit
Aug 3 2022 // French insurer AXA announced a new share buyback program as it posted a 3% rise in first-half net profit, driving up its stock price. AXA, Europe’s second-biggest insurer behind Germany’s Allianz, said it would...
Floods, Storms Drive Global Insured Catastrophe Losses of US$38B in H1 2022: Swiss Re
Aug 2 2022 // A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the...
UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit
Aug 2 2022 // British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. Chief Executive Penny...
Generali Beats Forecasts With H1 Net Profit of $1.4 Billion
Aug 2 2022 // Italy’s top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings...
Hartford, CNA Post Drops in Q2 Net Income
Aug 2 2022 // Second quarter earnings at The Hartford fell to $437 million – about 51% less than the same period a year ago. Hartford said it booked a $485 million before-tax change from net realized gains to net realized losses...
