Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Property Loss Estimate for Australia’s Townsville Floods Rises to A$1.22B: PERILS
Aug 12 2019 // The property insurance market loss from the Australia’s Townsville floods, which affected northern Queensland, Australia, between Jan. 26 and Feb. 10, 2019, has risen to A$1.22 billion (US$827.1 million), according...
PG&E Posts $2.6B Loss Stemming From California Wildfires, Bankruptcy
Aug 9 2019 // PG&E Corp. reported a $2.6 billion loss for the second quarter as costs from devastating wildfires in 2017 and 2018 and the California utility’s giant’s ongoing bankruptcy wiped out earnings. The loss...
UK’s Aviva Reports 1% Rise in 1st Half Operating Profit, Reviews Asia Business
Aug 8 2019 // Britain’s second largest insurer Aviva reported a forecast-beating 1% rise in first-half operating profit on Thursday, helped by a strong performance in its general business and announced a review of its Asian...
AIG’s P/C Business Delivers on CEO’s Underwriting Promise
Aug 8 2019 // American International Group (AIG) President and CEO Brian Duperreault has insisted that the insurer’s General Insurance unit will produce an underwriting profit for all of 2019, after a decade of losses. His promise...
Argo Group’s Q2 Net Income Drops as Combined Ratio Climbs
Aug 7 2019 // Argo Group International Holdings Ltd. reported a drop in net income and a spike in its Q2 2019 combined ratio, due to higher catastrophe losses. At the same time, rate increases helped boost both gross written and net...
Munich Re Reports 36% Rise in Q2 Net Profit on Lower Claims from Major Losses
Aug 7 2019 // German reinsurer Munich Re on Wednesday reported a 36% rise in net profit in the second quarter, helped by low claims from major losses, and stuck to its forecast for 2019. Net profit was 993 million euros ($1.11 billion),...
How VW Emissions Scandal Hurt Other German Car Makers’ Reputations and Profits
Aug 7 2019 // The fallout from Volkswagen’s 2015 emissions scandal cost other German car makers billions of dollars in sales, according to new research from Notre Dame University. In 2015, Volkswagen was exposed for bypassing U.S....
Costs of Buying Navigators Hit The Hartford’s Q2 Results
Aug 5 2019 // Major insurer The Hartford saw its net income fall and its commercial lines combined ratio spike during the 2019 second quarter, due in part to costs associated with its $2.1 billion acquisition of specialty insurer...
Berkshire Hathaway’s Insurance Underwriting Profit Fell in Q2
Aug 5 2019 // Giant conglomerate Berkshire Hathaway saw its total insurance underwriting profit in the second quarter fall 63% to $353 million from $943 million in the second quarter of last year. Compared to the same period last year,...
Berkshire Hathaway’s Q2 Reflects Slowing Economy, Trade Policy
Aug 5 2019 // Berkshire Hathaway Inc. on Saturday said its quarterly operating profit fell more than analysts expected, as weakness in insurance underwriting, a slowing economy and trade woes weighed on the conglomerate run by...
Captives Remain Profitable, Continue to Outperform Commercial Insurers, Reports A.M. Best
Aug 5 2019 // U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according...
Generali’s Net Profit Rises 34.6% in First Half
Aug 1 2019 // Italy’s top insurer, Generali , reported first-half operating profit above market estimates on Thursday, helped by growth across its business segments, and confirmed all of its three-year targets announced in...
AXA’s H1 Net Income Drops 19% on Hit From Spinoff of Equitable in U.S.
Aug 1 2019 // AXA SA’s shift away from life insurance yielded growing volumes and improved profitability as a restructuring move hit the bottom line. The French financial giant’s first-half net income fell 19% to 2.33...
Allstate Says Q2 Results Reflect Strategy Momentum
Jul 31 2019 // The Allstate Corp. said its second quarter results show that its strategy of increasing its market share in property and liability insurance products while also expanding into other protection products is working. Overall...
Businesses Believe Cyber Insurance Covers More Than It Does: Survey
Jul 31 2019 // Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee,...
Swiss Re H1 Profit Hit by Ethiopian Airlines Crash, Grounding of Boeing 737 MAX
Jul 31 2019 // Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s...
Captives Remain Profitable, Outperform Commercial Insurers, Reports A.M. Best
Jul 30 2019 // U.S. captive insurance companies rated by A.M. Best continued their run of strong financial results in 2018, as well as their outperformance of the segment’s counterparts in the commercial casualty sector, according...
Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective
Jul 30 2019 // Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its...
Argo Group Warns Q2 Earnings Will Take a Hit
Jul 29 2019 // Argo Group International Holdings Ltd. is warning that its results for its 2019 second quarter will take a hit due to losses affecting operations in London, Europe and Bermuda. Issues at play include: Prior year losses of...
Chubb Q2 Saw Net Income Dip, Premium Growth
Jul 25 2019 // Global insurer Chubb’s saw its net income dip slightly and its P/C combined ratio nudge higher during the 2019 second quarter, but price increases led to solid premium gains. “This quarter was about growth and...
