Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
P/C Insurers’ Net Income for 9 Months Fell 27% on Effects of Catastrophes
Feb 9 2021 // In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the...
Global Catastrophe Economic Losses Largely Unaddressed by Insurance
Feb 8 2021 // There were 416 natural catastrophe events globally in 2020 that resulted in economic losses of $268 billion – 8% more than the average annual losses for this century, according to insurance broker Aon’s latest...
The Hartford Q4 Profit Dips Slightly on COVID Life Insurance Claims
Feb 5 2021 // Fourth quarter profit at The Hartford dipped slightly due in part to COVID-related group life insurance claims. Fourth quarter 2020 net income came in at $532 million, down 2% from fourth quarter 2019. Fourth quarter...
Allstate Reports Net Income Rose 52% for Q4
Feb 4 2021 // Insurer Allstate reported improved auto underwriting results and strong investment returns for the fourth quarter 2020. Net income was up 52% to $2.6 billion for the quarter compared to net income of $1.7 billion in the...
Argo’s Q4 2020 Losses from Natural Disasters and COVID-19 Estimated at $51M
Feb 3 2021 // Argo Group International Holdings Ltd. estimates losses from fourth quarter 2020 natural catastrophes and the COVID-19 pandemic will hit $51 million. Breaking down the overall total, Bermuda-based Argo expects to report Q4...
Chubb’s Q4 ‘Excellent’ Results Boosted by Commercial Lines Price Hikes
Feb 3 2021 // Global insurer Chubb reported fourth quarter results for 2020 significantly better than the same period in 2019. For the 2020 fourth quarter, Chubb’s net income grew significantly higher, as did its net premiums...
China’s Ping An Insurance Reports First Annual Drop in Profit Since 2008
Feb 3 2021 // BEIJING/SHANGHAI — Ping An Insurance Group Co of China Ltd , China’s largest insurer by market value, on Wednesday reported its first annual fall in profit since 2008, as COVID shutdowns hampered business...
Revenue-Seeking Cyber Criminals Increasingly Target Businesses Over Individuals
Feb 2 2021 // Cyber criminals shifted away from stealing individual consumers’ information in 2020 to focus on bigger, more profitable attacks on businesses, according to a report from the Identity Theft Resource Center. The...
Cryptocurrency Crime Drops in 2020 but ‘Decentralized Finance’ Losses Rise: Study
Jan 29 2021 // Losses from cryptocurrency theft, hacks and fraud fell 57% last year to $1.9 billion, as market participants boosted security systems, but crime in the “decentralized finance” space continued to grow, a report...
Industry Underestimating COVID-19 Biz Interruption Losses: RenRe CEO
Jan 29 2021 // During an upbeat earnings call focused on how RenaissanceRe is using $1 billion of capital it raised last year in 2021, the CEO highlighted one negative development for the industry overall — inadequate estimates of...
W.R. Berkley Reports Record Q4 Net Income
Jan 28 2021 // W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed to rate hikes, bigger investment returns and ongoing underwriting...
If Tokyo Olympics Canceled, Loss for Insurers Would Be ‘Mind-Blowingly’ Big
Jan 27 2021 // LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the...
Brown & Brown Revenues, Profit Jump in Q4
Jan 26 2021 // Insurance agency Brown & Brown reported revenues for the fourth quarter of 2020 of $642.1 million, a jump of 10.9% or $63.1 million compared to the fourth quarter of 2019. Agency commissions and fees increased in the...
Nearly Two-Thirds of Global Catastrophe Economic Losses Unaddressed by Insurance
Jan 25 2021 // There were 416 natural catastrophe events globally in 2020 that resulted in economic losses of $268 billion – 8% above the average annual losses for this century, according to insurance broker Aon’s latest...
Travelers Insurance Profit Soared in Q4 on Fewer Claims, Investment Gains
Jan 21 2021 // Property and casualty insurer Travelers Cos. Inc. reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe...
How Climate Change May Affect Hurricane Risk and Losses: AIR, Brookings, AXIS
Jan 19 2021 // By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or more and in some cases doubling them, even without any increase in the concentration of...
Deep Fake Losses to Challenge Cyber Insurers, CyberCube Warns
Jan 7 2021 // What do Ulysses and his Trojan Horse, the pickpocket Fagan in Charles Dickens’ Oliver Twist and a video of Facebook’s Mark Zuckerberg touting how his company “owns” its customers have in...
Global Risk Solutions Acquires Texas Energy Loss Specialist, R Winkler & Co.
Jan 6 2021 // Claims adjusting and environmental risk management solutions provider, Global Risk Solutions Inc., has acquired specialist energy sector adjusting and consultancy firm R Winkler & Co., based in Sugar Land, Texas. Terms...
Final Insured Losses for Australian Bushfires of 2019/2020 Estimated at A$1.866B
Jan 6 2021 // Insured losses for the Australian bushfires of 2019/2020 rose to A$1.866 billion (US$1.441 billion), according to estimates issued by PERILS, the independent Zurich-based organization that provides industry-wide...
Combined Losses from Laura and Delta Top $5B in Louisiana
Dec 22 2020 // Reported insured losses from Hurricanes Laura and Delta collectively have topped more than $5 billion as of Nov. 20, the state insurance department said. More than 236,938 claims had been reported as of Nov. 20 for the two...
