Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Review: In Netflix Drama ‘Worth,’ Feinberg Grapples With Personal Losses of 9/11
Sep 3 2021 // “What is life worth?” asks Washington lawyer Kenneth J. Feinberg (Michael Keaton) in the opening scenes of the based-on-a-true-story drama “Worth,” while writing the question on a blackboard for a...
AIR Worldwide Estimates Insured Losses for Hurricane Ida Could Be Up to $25 Billion
Sep 3 2021 // Insurance industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from $17 billion to $25 billion. AIR’s modeled insured loss estimates include insured...
Insurance Industry Will Withstand Ida’s Losses in Louisiana, Neighboring States: Analysts
Sep 2 2021 // Though estimates of Hurricane Ida’s impact on the insurance industry vary, both AM Best and S&P Global Ratings say losses will be manageable for insurers and that no rating actions are expected as a result of the...
Newly-Public Ryan Specialty Group Reports Strong Q2 Results
Sep 2 2021 // Ryan Specialty Group Holdings, Inc., which completed its initial public offering on July 26, announced results for the second quarter including 58.3% growth in total revenue year-over-year to $390.0 million, compared to...
Analysts Foresee Modest Economic Damage in U.S. From Ida; Peg Insured Losses at $10B
Aug 31 2021 // With more than 1 million customers in Louisiana and Mississippi having lost power, Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast. But the...
Ping An Insurance Profit Falls on Land Developer Investments
Aug 27 2021 // Ping An Insurance Group Co. of China, China’s largest insurer by market value, reported a 15.5% fall in first-half net profit after a 20.8 billion yuan ($3.2 billion) loss suffered on investments in beleaguered...
KCC Estimates Insured Loss From Hurricane Grace: $300M in Mexico, $30M in Caribbean
Aug 26 2021 // Catastrophe modeling firm the Karen Clark & Company (KCC) estimates that the insured loss to onshore properties from Hurricane Grace will be around $330 million—$300 million in Mexico and $30 million in the...
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS
Aug 23 2021 // RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion...
Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s
Aug 19 2021 // The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a result of lower...
Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.
Aug 17 2021 // The large 7.2 magnitude earthquake, which hit Haiti on Aug. 14, is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC). While the insured losses from this event...
Global Insured Disaster Losses Reach US$42B in H1 as 2nd Highest on Record: Swiss Re
Aug 13 2021 // Estimated insured losses from natural catastrophes reached US$40 billion during the first half – driven by a deep winter freeze, hailstorms and wildfires, while man-made disasters triggered another estimated US$2 billion...
Zurich Insurance Reports Strong Surge in Earnings as COVID-19 Impact Eases
Aug 12 2021 // Zurich Insurance Group’s on Thursday joined other big European insurers in reporting a strong rebound in earnings as the impact from COVID-19 on their businesses eased. Buoyant markets along with higher policy sales...
Munich Re’s Q2 Profit Rises 91%, While COVID-19 Losses Outpace Expectations
Aug 10 2021 // German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously anticipated. Munich Re made...
GEICO Put a Dent in Berkshire Hathaway Results for Q2
Aug 9 2021 // Berkshire Hathaway’s insurance division produced a mixed performance during the 2021 second quarter. Rate increases generally carried the day, though the conglomerate’s GEICO unit dragged down...
Rate Hikes, Investments Help AIG Get Back to Profit in Q2
Aug 6 2021 // American International Group generated a modest profit in the second quarter, citing gains from higher net investment income, far fewer catastrophe losses and strong rate hikes in its property/casualty business. The...
Allianz Posts 46% Jump in Q2 Profit, with Rosy Outlook Expected
Aug 6 2021 // FRANKFURT – German insurer Allianz on Friday posted a better-than-expected 46% jump in second-quarter net profit and provided a rosier outlook for the full year as it emerges from pressure on business caused by the...
McLarens Acquires Canadian Loss Adjusting Firm MGB Claims Consultants
Aug 4 2021 // McLarens, the Atlanta-based independent insurance services provider, announced the acquisition of MGB Claims Consultants Inc., a complex commercial claims adjusting firm in Canada. Financial terms of the transaction were...
Generali’s Operating Profit Increases 10.4% During First Half
Aug 3 2021 // Generali on Tuesday said it was on track to meet full-year targets after Italy’s top insurer reported a good performance across all business sectors to slightly beat first-half expectations. Operating profit rose...
France’s AXA Posts 180% Surge in 1st Half Net Income as XL Unit Swings to Profit
Aug 2 2021 // AXA posted a 180% surge in first-half net income on Monday as the French insurer rebounded from a spike in pandemic-related claims that led to a 1.5 billion euro ($1.8 billion) charge last year. Europe’s...
