Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
More Than a Dozen Florida Insurers Facing Ratings Downgrades
Jan 9 2020 // The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the...
New York Governor Lays out Aggressive Climate Change Plan
Jan 9 2020 // New York Gov. Andrew Cuomo is proposing an aggressive climate change-fighting campaign for his state that includes a $3-billion bond act that would be put on the ballot this November. Cuomo, who says that money would go to...
How Big Tech Hopes to Turn Cars into Connected Revenue Machines
Jan 9 2020 // Technology companies transformed smartphones and televisions into continuous fountains of revenue. Now, big tech wants to work with automakers to do the same thing for your car. With the widespread rollout of autonomous...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re
Jan 8 2020 // Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe...
Speculations on Risk
Jan 8 2020 // If you look at news in any way, you understand that the world is risky. Take a look at these stories in Insurance Journal. Worker in New Jersey Seriously Injured When Ditch Collapses Around Him Two Women Killed After New...
January 2020 Reinsurance Renewals Varied Significantly, Brokers Say
Jan 6 2020 // The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by...
Insurance Market Shrinking as Senior Living Industry Grows
Jan 6 2020 // The senior population continues growing at a time when the insurance market for senior living operations is under strain and both trends are expected to continue. The population of Americans over age 80 will double, from 6...
Diet Dr Pepper Is Not Promising Weight Loss, Court Rules
Dec 31 2019 // A U.S. federal appeals court on Monday said the maker of Diet Dr Pepper did not deceive consumers into thinking the soft drink promoted weight loss by including “diet” in its name, a decision that could doom a...
Agriculture, Aviation Woes Cited for Lag in Personal Income Growth in Kansas
Dec 27 2019 // Personal income growth in Kansas is below the national average largely because of troubles in agriculture. Kansas farmers face an expanding drought and low commodity prices, though a break in an ongoing tariff dispute may...
Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$798M: PERILS
Dec 27 2019 // The fourth and final insured property loss estimate for the hailstorms that hit the greater Sydney region in December 2018 rose to A$798 million ($553.2 million), according to PERILS, the independent Zurich-based...
Workers’ Comp Profits at Risk from Growing Competition, Lower Rates: A.M. Best
Dec 24 2019 // Workers’ compensation carriers’ ability to retain profitable accounts and maintain market share could be challenged due to declining rates and growing competition in the U.S., according to an A.M. Best...
Massachusetts Auditor Says Revenue Department Needs to Better Protect Data
Dec 24 2019 // The Massachusetts Department of Revenue needs to do more to protect the security of taxpayer and business data, the state auditor said Monday. Auditor Suzanne Bump said an audit found the department was not prepared to...
Underwriters and Insureds Taking Harder Look at Commercial Property Risks
Dec 24 2019 // Commercial property underwriters are adjusting to a market defined by rising catastrophe losses and dwindling profits. From increasing rates and higher deductibles to fewer classes of business and stricter underwriting,...
Insured Losses in 2019 Estimated at $56B, Down from $93B Last Year: Swiss Re
Dec 20 2019 // Global insured losses in 2019 dropped to an estimated US$56 billion, from US$93 billion in 2018 and below the annual average (US$75 billion) of the previous 10 years, according to preliminary sigma estimates from Swiss Re...
Irish Plane Lessor Seeks $185M from Boeing for 737 MAX-Related Losses
Dec 18 2019 // An Ireland-based plane lessor sued Boeing Co. on Tuesday for breaching a contract for 22 of the U.S. planemaker’s 737 MAX aircraft and sought a compensation of $185 million. Timaero Ireland Ltd. cited design flaws in...
Cryptocurrency Fraud Losses Surge to $4.4 Billion: CipherTrace Report
Dec 16 2019 // Cryptocurrency theft has surged in 2019 compared with last year, with more money flowing through digital exchanges and criminals looking to carry out bigger heists, according to a report from blockchain forensics company...
Fitch Sees Strong Revenue Growth for U.S. Public Insurance Brokers
Dec 16 2019 // Publicly traded U.S. insurance brokers are expected to produce strong revenue growth for 2020 given near peak level organic growth and favorable U.S. commercial lines insurance pricing trends. Further, margins remain...
Fitch Sees Stronger Commercial Lines But Weaker Auto, Workers’ Compensation Results Coming
Dec 16 2019 // The U.S. property/casualty insurance sector should see small improvements in underwriting profits in 2019 and 2020, thanks largely to commercial lines price increases, Fitch Ratings predicts in a new report. But personal...
How to Lower Agency Value
Dec 16 2019 // As the M&A frenzy continues, buyers keep pushing the envelope when it comes to agency value. The private equity firms were initially paying top dollar to their first acquisition of a large, well-run firm platform...
Political Risk Losses Up in 2019, Hitting 68% of Surveyed Firms
Dec 16 2019 // A survey of 41 major corporations by broker Willis Towers Watson found that 61% believe political risk levels increased in 2019 while 68% have actually suffered a political risk loss. Disruption of international trade was...
