Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
The Power and Failure of Anecdotes
Dec 16 2019 // Meghan Moran at Johns Hopkins University studied 263 “avowedly anti-vaccine websites …[tracking] how many made powerful use of anecdotes – [and found that] a tragic story to stir fear and sympathy in a...
Court Rules Events After Email Instruction Don’t Erase Claim for Phishing Loss
Dec 12 2019 // A $1.7 million email phishing fraud that included phone calls with a fake lawyer and an intervention by a Wells Fargo fraud investigator is still a fraud and Ironshore Indemnity is liable for the claim, a split panel with...
Moody’s Sees Low Interest Rates Hurting French P/C Insurers’ Profits in 2020
Dec 12 2019 // The 2020 outlook for the French insurance sector is negative, reflecting growing pressures on the property/casualty insurers’ profitability from low interest rates, Moody’s Investors Service said in a report....
Fitch Sees Stronger Commercial Lines But Weaker Auto, Work Comp Results Coming
Dec 6 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...
Political Risk Losses Up in 2019, Hitting 68% of Surveyed Firms: WTW
Dec 6 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...
Fitch Sees Strong Revenue Growth for U.S. Public Insurance Brokers in 2020
Dec 5 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...
Cryptocurrency Fraud Losses Surge to $4.4 Billion: CipherTrace Report
Dec 2 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...
How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study
Dec 2 2019 // Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers” — those that succeed at both, not only growing but...
AXIS Capital’s Losses from Japan’s Typhoon Hagibis Estimated at $90M-$110M
Nov 26 2019 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Japanese Typhoon Hagibis in the range of $90 million to $110 million, net of estimated recoveries from reinsurance and retrocessional covers, and...
Japan’s Largest Insurers Take Another Hit from Typhoon Losses
Nov 19 2019 // A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that...
Bahamas Suffered $3.4B in Losses, 67 Deaths from Dorian; Hundreds Still Missing
Nov 19 2019 // Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released last week. The report by the Inter-American...
Florida Expands Access to Insurtech Services and Devices
Nov 18 2019 // On June 28, 2019, Florida Governor Ron DeSantis signed House Bill 301 into law and, in doing so, loosened regulatory restrictions and allowed insurers and their agents to utilize innovative technologies to reduce perils to...
Senior Living Market Explodes During Challenging Times
Nov 18 2019 // 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...
Typhoon Hagibis to Cost Japan’s Economy $10B, with Insured Losses in Billions: Aon
Nov 8 2019 // Typhoon Hagibis is likely to become one of 2019’s costliest events, with economic costs of more than US$10 billion and insured losses minimally in the billions, according to Aon’s monthly catastrophe...
Investors React Positively to Argo CEO’s Exit, Despite Q3 Net Loss
Nov 8 2019 // The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov....
Are Employees Pushing Insurers to Shun Coal in Climate Change Movement?
Nov 7 2019 // Seventeen insurers have restricted insurance services to coal projects in the past two years. A dozen insurers have adopted policies to stop all direct insurance coverage to new coal projects – among them are Allianz,...
Vermont Farm Loses 2K Chicken and Turkeys in Flooding, Estimates $60K Loss
Nov 7 2019 // A Vermont farmer says he lost more than 2,000 chickens and turkeys when last week’s flood waters inundated their Richmond farm. Bruce Hennessey, of Maple Wind Farm, says they had moved the animals to higher ground...
Hartford’s Q3 Net Income Rebounds, Rising 21% to $524 Million
Nov 6 2019 // The Hartford’s net income rebounded during the third quarter, rising 21% from Q3 2018 to $524 million, partly due to lower current accident year catastrophes, a lower group disability loss ratio and higher net...
Program Business Revenue Increases 12% to $40.5B in 2018
Nov 5 2019 // Program business premium rose 12.2% in 2018, reaching $40.5 billion from $36 billion in 2016, according to The 2019 State of Program Business Study published by the Target Markets Program Administrators Association...
Berkshire Hathaway’s Q3 Profit Tops Expectations
Nov 4 2019 // Berkshire Hathaway Inc. said its quarterly operating profit rose more than analysts expected, as growth in several business lines offset the drag from trade tensions and tariffs and billionaire Warren Buffett’s...
