Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Industry Awaits Florida Supreme Court Decision on Post-Loss AOB Policy Language
Mar 14 2019 // As Florida lawmakers weigh reform for the state’s assignment of benefits crisis, the insurance industry and regulators are closely monitoring a case addressing post-loss policy language that is currently before the...
Demotech: Expect 2018 Catastrophe Losses to Impact Florida-Based Insurers
Mar 12 2019 // After reviewing the year-end financial statements of the Florida-based carriers it rates, Ohio-based ratings agency Demotech is warning that many insurers could see underwriting and operating losses in their year-end...
College Basketball Star’s Busted Shoe Episode Raises Loss of Value Insurance Question
Mar 4 2019 // Soon after Duke University star freshman Zion Williamson’s shoe ripped apart, Nike’s stock price took a hit. The freak injury during one of the college basketball season’s marquee games immediately...
Nevada OKs Workers’ Comp Loss-Cost and Assigned-Risk Rate Decreases
Mar 1 2019 // Nevada Insurance Commissioner Barbara D. Richardson approved a filing from the National Council on Compensation Insurance for an average decrease of 8.1 percent for Nevada workers’ compensation voluntary insurance...
The $900 Billion Auto Aftermarket: Where Total Losses Turn Into Big Gains
Mar 1 2019 // Mike Rosser, a 41-year veteran of the salvage car business, remembers a day when auctions for junked cars drew 30 guys standing in the sun, inspecting mangled cars for intact alternators and transmissions. On this February...
Allianz Offers Reputational Protection in UK to Replace Lost Profits in a Crisis
Mar 1 2019 // Allianz Global Corporate & Specialty (AGCS) has launched Reputation Protect Plus in the UK to help companies protect their reputations – their most valuable assets – in times of crisis. Providing “tangible...
Liberty Mutual Boosted Q4, 2018 Profit Helped by Lower Catastrophe Losses
Feb 28 2019 // Liberty Mutual Holding Co. and its subsidiaries reported net income of $249 million for the fourth quarter 2018 and $2.160 billion for the full year 2018, increases of $44 million and $2.143 billion over the same periods...
Insurer Group Warns on Property Losses Due to Climate Change
Feb 27 2019 // Insurers are increasingly worried that rising temperatures will lead to a slump in property values that could spark broader financial turmoil. Those were the conclusions a group run out of the University of Cambridge...
A.M. Best Sees $12 Billion P/C Insurance Underwriting Loss for 2018
Feb 27 2019 // The U.S. property/casualty industry is expected to report that 2018 was its third consecutive year with an underwriting loss. A new A.M. Best analysis projects an estimated net underwriting loss of $12.1 billion in 2018,...
QBE Takes Another Step to Reporting Strong Results, Consistently, with 2018 Profit
Feb 27 2019 // QBE Insurance Group took another step in its quest to achieve strong results, consistently, by reporting a cash profit after tax of US$715 million during 2018, a significant improvement on the cash loss of US$262 million...
Berkshire P/C Insurance Reported Q4 Loss, Profit for Full Year 2018
Feb 25 2019 // In the conglomerate’s annual report published on Saturday, Berkshire Hathaway’s Chair Warren Buffett recommended that readers focus on operating earnings, reviewing a year in which insurance operations...
Swiss Re 2018 Net Profit Rises 27% Despite Spate of Natural, Man-Made Disasters
Feb 21 2019 // Reinsurer Swiss Re on Thursday posted a 27.2 percent jump in 2018 net profit, despite claims from large-scale natural catastrophes and man-made disasters. Net profit for the full year came in at $421 million, compared with...
AXA Reports 66% Drop in 2018 Net Profit on U.S. Unit’s IPO Costs, Natural Disasters
Feb 21 2019 // Net profits at AXA, Europe’s second biggest insurer, fell sharply as a result of charges related to its U.S. unit’s initial public offering (IPO) and a spate of natural disasters, although AXA hoped for higher...
SCOR’s Net Profit in 2018 Rises 13% Despite Spate of Q4 Natural Disasters
Feb 20 2019 // French reinsurer SCOR, which was the target of a thwarted acquisition by rival Covea last year, posted a surge in overall 2018 net profits despite making a loss in the fourth quarter caused by a spate of natural...
Midwest Ratings Roundup
Feb 18 2019 // Upgraded Ratings for Northwest G.F. Mutual Insurance AM Best upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” from “bbb-” of...
Total Compensation and Salaries Growing, But at a Slower Pace
Feb 18 2019 // Employee Satisfaction with Compensation on the Rise Total compensation and salary adjustments on average fell slightly in independent insurance agencies responding to the 2019 Agency Salary Survey, but that trend has had...
Allianz Q4 Net Profit Rises 19% to $1.92 Billion
Feb 15 2019 // Allianz may slow its share buyback program after the one announced this week to allow the German insurer to make small acquisitions, the group’s finance chief said on Friday after reporting a 19 percent rise in...
AIG Reports Q4 Loss on Catastrophes, Lower Investment Returns
Feb 13 2019 // American International Group Inc. on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market. Excluding realized investment gains and...
Mercury General in California Reports 4Q Earnings Loss
Feb 12 2019 // Mercury General Corp. reported a fourth-quarter loss of $81.9 million, after reporting a profit in the same period a year earlier. The Los Angeles, Calif.-based carrier said it had a loss of $1.48 per share. Losses,...
AXA XL Merges European Teams with Job Losses Expected
Feb 12 2019 // AXA XL announced another step in its post-merger integration which is expected to lead to job losses in Europe. AXA XL said it began transferring employees in Europe into a single employing company at the beginning of...
