Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Global Insurance Losses From Russia-Ukraine War Could Range From $16B to $35B
Apr 1 2022 // Global insurance losses from the Russia-Ukraine war could range from $16 billion to $35 billion, with reinsurers expected to assume 50% of those claims, according to a report published by S&P Global Ratings. While...
Floods Drive Economic Losses in 2021, but Only 25% of Risks Are Insured: Swiss Re
Mar 30 2022 // More than 50 severe flood events around the world caused combined economic losses of US$82 billion in 2021, while insured losses stood at slightly more than US$20 billion – more evidence of a large ongoing global...
Jet Leasing Firms Tally Up Losses Stemming From Russia-Ukraine War
Mar 30 2022 // Aircraft leasing firms are tallying up losses stemming from Russia’s invasion of Ukraine, according to the head of Avolon Holdings Ltd., one of the biggest players in the industry. Lessors are in dialogue with...
Some Credit Suisse Investors Do Not Want to Absolve Execs for Greensill Losses: FT
Mar 28 2022 // Some shareholders in Credit Suisse do not want the bank to hold a vote in the annual meeting on absolving senior executives from losses racked up in the Greensill affair, The Financial Times reported on Sunday. Investors...
Rate Hikes, Telematics, Data Science Leading Allstate Back to Profit
Mar 25 2022 // For the second time this month, a personal auto insurance giant devoted an investor conference to the topic of rate hikes, with Allstate executives also assuring listeners the carrier has various other tools to return to...
Lloyd’s Expects ‘Major Claim’ From Russia-Ukraine War, Reports ‘Strong’ Profit in 2021
Mar 24 2022 // Lloyd’s, the world’s leading insurance and reinsurance marketplace, announced “a strong return to profitability” in its 2021 full year financial results, with an overall profit of £2.3 billion...
Citizens: Underwriting Losses, but $81M in Net Income Thanks to Investments
Mar 24 2022 // Citizens Property Insurance Corp. directors said Wednesday they continue to worry about the state of the Florida insurance market, Citizens’ growth and its potential losses, despite $6.5 billion in surplus and an $81...
Will Companies Exiting Russia Be Able to Recoup Losses With Insurance?
Mar 23 2022 // Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co. to PwC, a global professional services...
Arkansas Teachers Fund Agrees to $643M Settlement With Allianz Over Losses
Mar 21 2022 // A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document. The...
Aircraft Insurers Brace for Barrage of Russia Claims in Possibly Biggest Aviation Loss
Mar 18 2022 // Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of...
Ping An Insurance Profit Falls 29%
Mar 18 2022 // Ping An Insurance Group Co of China Ltd., the country’s largest insurer, on Friday reported its biggest annual profit fall since 2008 as the country’s property market soured, but said it expected such...
Fire Damages Cause ‘Total Loss’ to Hastings, Nebraska Downtown
Mar 16 2022 // An investigation has begun to determine what caused a fire that badly damaged several buildings in downtown Hastings. Firefighters were called just before 11:30 p.m. March 13 to a report of a fire on the awning of...
Generali Reports Record Operating Profit in 2021, as Board Battle Looms
Mar 15 2022 // Italy’s top insurer Generali, facing a power struggle over its management, said on Tuesday it posted record operating profit last year thanks to a strong contribution from all of its business segments. Generali also...
Vermont Court Sides With Ambassador Insurance in Allocation of Asbestos Losses
Mar 8 2022 // The Vermont Supreme Court has denied a bid by a manufacturer of asbestos products to bypass Vermont law in determining the allocation of losses for insurance purposes. In so doing, the Vermont court sided with Ambassador...
Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years
Mar 7 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Mar 7 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
2021 Natural Catastrophe Losses From Major Events Reached $56.92B – Here’s Why
Mar 4 2022 // This post is part of a series sponsored by CoreLogic. When a natural catastrophe hits a community, there can be significant long-term impacts. When a large portion of the local population leaves the area during the rebuild...
ANALYSIS-Who Pays? UN Climate Report Reignites Global Fight for Compensation
Mar 4 2022 // With this week’s U.N. climate science report laying bare the staggering economic costs and losses already faced from climate change, an inevitable question arises: who should pay? Within U.N. climate negotiations,...
Arkansas Teachers Fund Agrees to $643M Settlement With Allianz Over Losses
Mar 3 2022 // A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document. The...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Mar 2 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims...
