Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Pain, Loss Linger A Decade After Tornadoes Hammered 6 States Across South
Apr 28 2021 // For Tom Sanders, it’s the void left by the death of a cousin and the man’s wife, killed when a tornado mowed through a placid Alabama valley. To Markedia Wells, it’s the stolen innocence of her sons, who...
MarshMcLennan Reports 9% Revenue Growth in Q1
Apr 28 2021 // MarshMcLennan reported financial results for the first quarter of 2021 that included consolidated revenue of $5.1 billion, an increase of 9% compared with the first quarter of 2020. Operating income was $1.4 billion...
Cyber Attacks and Data Loss Are Top 2 Risks Facing Directors & Officers: WTW Survey
Apr 23 2021 // Cyber attacks and data loss are the top two risks facing directors & officers, with pandemic-related changes in working practices heightening these concerns, according to a global survey from broker Willis Towers...
Up to 40% of Losses from Frost Damage at French Vineyards Are Uninsured
Apr 23 2021 // PARIS – Frost damage to French vineyards this month could reduce wine production by nearly a third compared with recent years, farm office FranceAgriMer said on Thursday, citing initial estimates from wine producers. The...
Argo Group Estimates Q1 2021 Catastrophe Losses of $47 Million
Apr 22 2021 // Bermuda-based Argo Group International Holdings Ltd. announced estimated catastrophe losses of approximately $47 million for the first quarter of 2021. Argo expects to report Q1 natural catastrophe losses of approximately...
Reinsurers Remain Resilient Despite P/C Underwriting Losses in 2020
Apr 22 2021 // Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well compromised investment returns, a group of reinsurers studied by Aon reported positive earnings for 2020 and an...
Travelers Is ‘Off to a Terrific Start’ in 2021 with Q1 Results
Apr 20 2021 // The Travelers Companies reported net income of $733 million for the first quarter of 2021, compared to $600 million in the prior year quarter. Core income in the current quarter was $699 million compared to $676 million in...
Everest Re Estimates Q1 2021 Catastrophe Losses of $260 Million
Apr 20 2021 // Bermuda-based Everest Re Group Ltd. estimates pre-tax catastrophe losses for the first quarter of $260 million. Breaking down that total, Everest said the Texas winter storms will cost $250 million, while Australia’s...
Insurers Report Estimated Q1 Catastrophe Losses
Apr 20 2021 // Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The...
Arch Capital Estimates Q1 Catastrophe Losses Could Reach $190 Million
Apr 19 2021 // Arch Capital Group Ltd. estimated a range of pretax catastrophe losses of $180 million to $190 million for the first quarter across its property casualty insurance and reinsurance segments. A major reason for the claims...
P/C Insurers Show 2020 Underwriting Profits Despite COVID-19: Fitch
Apr 19 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...
AXIS Capital Estimates Q1 Pre-Tax Catastrophe Losses of $105M-$115M
Apr 15 2021 // Bermuda-based AXIS Capital Holdings Ltd. announced a preliminary, pre-tax first quarter net loss estimate for catastrophes and other weather-related events in the range of $105 million to $115 million, or $95 million to...
RenaissanceRe Expects Q1 Loss from U.S. Winter Storm Uri
Apr 15 2021 // Bermuda-based RenaissanceRe Holdings Ltd. estimated that losses from Winter Storm Uri will have a net negative impact of approximately $180 million on the company’s first quarter 2021 results of operations. Winter...
UN Summit to Seek Support from Insurers, Bankers to Stem Loss of Global Biodiversity
Apr 15 2021 // Organizers of a United Nations summit where world leaders will seek to negotiate an accord for nature akin to the Paris climate agreement want banks and fund managers to play their part in protecting the planet’s...
U.S. P/C Insurers Report 2020 Underwriting Profits Despite Costs of COVID-19: Fitch
Apr 12 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...
Texas OKs NCCI’s Workers’ Comp Loss Cost Filing Effective July 1
Apr 6 2021 // The National Council on Compensation Insurance’s (NCCI’s) advisory loss cost filing for Texas with an effective date of July 1, 2021, has been accepted by state insurance regulators. The Texas Department of...
London Market Insurers’ 2020 Profits Canceled by COVID-19 but Rates Are Rising
Apr 1 2021 // Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event...
K2 Insurance Services Acquires Montana’s Loss Run Pro
Apr 1 2021 // K2 Insurance Services, based in San Diego, Calif., has invested in Loss Run Pro LLC, headquartered in Missoula, Montana. LRP, founded in early 2020 by Reghan Brandt, was a participant in BrokerTech Ventures’ (BTV)...
Australia’s Floods to Hit Insurers’ Earnings, Put Upward Pressure on Reinsurance Rates
Mar 31 2021 // Insured losses from Australia’s March floods are expected to hit general (or property/casualty) insurers’ underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance rates,...
Lloyd’s Expects Large Loss from Suez Canal Blockage
Mar 31 2021 // The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion)...
