Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Going to Court Over Losses When Robot Is to Blame
May 7 2019 // Robots are getting more humanoid every day, but they still can’t be sued. So a Hong Kong tycoon is doing the next best thing. He’s going after the salesman who persuaded him to entrust a chunk of his fortune to...
AIG Scores P/C Insurance Profit in Q1
May 7 2019 // Insurer American International Group Inc. reported first-quarter earnings that trounced Wall Street estimates on Monday, as its general insurance business posted its first underwriting profit since the financial...
Buffett Has Eyes on Competitor Progressive, Not Car Makers Entering Insurance
May 7 2019 // Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional...
Swiss Re: Insurance Industry Must Wake Up to Costs of ‘Secondary’ Catastrophe Perils
May 6 2019 // The insurance industry must wake up to the growing cost of “secondary” catastrophe perils, which amounted to more than 60 percent of the $76 billion price tag for insured natural catastrophe losses during 2018,...
PG&E in California 1Q Earnings Beat Wall Street Expectations, Profit of $136M
May 3 2019 // Pacific Gas & Electric Co.on Thursday reported first-quarter profit of $136 million. The San Francisco, Calif.-based company said it had profit of 25 cents per share. Earnings, adjusted for non-recurring costs, were...
Swiss Re’s Q1 Profit of $429M Hit by Natural Catastrophes, Boeing Crash
May 3 2019 // Reinsurer Swiss Re AG’s reported an unexpected 6 percent fall in quarterly net profit on Friday as claims from large losses offset higher net premiums and a solid return on investments. Net profit came in at $429...
Chubb’s Q1 Net Income Dips Slightly but Commercial Insurance Produces Gains
May 2 2019 // Chubb saw its net income dip slightly in the 2019 first quarter, though commercial and other insurance premiums rose at a healthy clip. The insurance giant’s property/casualty combined ratio also improved, and...
Owners Project Stop & Shop Strike Cost Company About $100M in Losses
May 2 2019 // The owners of New England’s largest supermarket chain are projecting around $100 million in losses from the labor strike that ended Easter Sunday. Ahold Delhaize, the Dutch company that owns Stop & Shop, said the...
Losses from Cryptocurrency Thefts, Fraud Surged to $1.2 Billion in Q1: Report
May 1 2019 // Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cyber-security firm CipherTrace...
CNA Financial Reports 17.5% Jump in Q1 Net Income
Apr 30 2019 // CNA Financial Corp. reported first quarter 2019 net income of $342 million, up 17.5 percent over the $291 million reported for the same period in 2018. The company saw a big improvement in its first quarter results over...
Beazley-Led Consortium to Offer Corporate C-Suite Reputational Risk Coverage
Apr 29 2019 // Specialist Lloyd’s insurer Beazley is partnering with other Lloyd’s insurers to offer reputational risk coverage targeted towards C-suite exposures. The Beazley Custodian Consortium at Lloyd’s provides...
PG&E Asks California for Higher Rates to Pay for Wildfire Safety, Profits
Apr 26 2019 // California utility Pacific Gas & Electric Corp. is asking state regulators for another increase in rates and profits, saying it’s needed for wildfire safety and to attract investment as the utility goes through...
SCOR’s Q1 Net Profit Drops 21% on Japan Typhoons in 2018
Apr 26 2019 // French reinsurer SCOR, whose CEO faces a vote on his demotion during a shareholders meeting on Friday, said its net profit in the first quarter fell 21 percent as a result of the impact of 2018 typhoons in Japan. SCOR...
Minnesota AG: For-Profit Health Insurers Could Raid State’s Reserves
Apr 25 2019 // Minnesota Attorney General Keith Ellison has called on lawmakers to reverse a consequence of 2017 law that repealed the state’s ban on for-profit health maintenance organizations, saying for-profit companies could...
W.R. Berkley Q1 Results Show Rate Increases Working
Apr 25 2019 // W.R. Berkley Corp. enjoyed solid premium growth in the 2019 first quarter and its reinsurance arm booked encouraging results, with the carrier crediting “further rate improvement” for the positive trend. The...
Europe’s Storm Dragi-Eberhard Costs Insurers Estimated €740M ($831.8M): PERILS
Apr 22 2019 // The initial insured property losses for extratropical cyclone “Dragi-Eberhard,” which hit the British Isles, and Western and Central Europe on March 9-10, 2019, are estimated at €740 million ($831.8 million),...
Fitch Keeps Stable Outlook for P/C Insurers After Underwriting Profit in 2018
Apr 22 2019 // After two consecutive years of combined ratios above 100, the U.S. property/casualty industry returned to a modest statutory underwriting profit in 2018 as catastrophe losses slowed, premium growth accelerated and several...
Lower Catastrophe Losses Help Boost Q1 Profit for Travelers
Apr 21 2019 // Insurer Travelers Companies Inc.’s quarterly profit beat analysts’ estimates on Thursday, as improved underwriting and lower catastrophe losses offset a decline in net investment income, sending its shares to a...
California State Fund Reports Increase in Net Income in 2018
Apr 15 2019 // California’s State Compensation Insurance Fund reported an increase of net income and written premium in its just-released annual report for 2018. Financial highlights of the 2018 annual report include: Net income of...
Markel Internal Review Finds ‘No Bad Faith’ Related to Loss Reserves Under Investigation
Apr 15 2019 // Markel Corp. said that an internal review conducted by outside counsel found “no evidence that personnel of its CATCo unit acted in bad faith in exercising business judgment in the setting of reserves and making...
