Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Munich Re Reports Q3 Loss of $1.6B; Tallies Industry Hurricane Losses at $100B
Nov 9 2017 // Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re said on Thursday. Damages from storms Harvey, Irma and Maria of that...
Generali Posts 9.9% Drop in 9-Month Profits; But on Track to Achieve 2017 Target
Nov 9 2017 // Italy’s biggest insurer, Generali, kept its guidance unchanged on Thursday after posting a 9.9 percent drop in nine-month profits due to a loss on the sale of its Dutch business. Profits for the period totalled 1.463...
Hurricane Harvey Caused More than $200M in Crop, Livestock Losses in Texas
Nov 8 2017 // Hurricane Harvey caused more than $200 million in crop and livestock losses, according to Texas A&M AgriLife Extension Service. Hurricane losses by agricultural commodity include: livestock – $93 million; cotton...
Global Re/Insurers Lobby Against ‘Unfathomable’ House Tax Bill
Nov 7 2017 // Multinational companies including Apple Inc., Pfizer Inc. and Ford Motor Co. would face a new tax on payments they make to offshore affiliates under the House Republicans’ tax bill — a surprise provision that...
Berkshire Insurance Units Take Q3 Hit from U.S. Hurricanes, Mexico Earthquake
Nov 6 2017 // Bad weather hurt Warren Buffett’s Berkshire Hathaway Inc. in the third quarter, as insurance losses tied to Hurricanes Harvey, Irma and Maria and an earthquake in Mexico contributed to a 43 percent drop in...
Does a CPP Cover Trees Knocked Over by a Hurricane?
Nov 6 2017 // When a hurricane blows through, it isn’t just the trees on a homeowner’s property that could be damaged. There could be trees on a business’ property that are damaged as well. Does the commercial property...
How Warming Seas Could Cost South Carolina $12 Billion
Nov 6 2017 // If oceans warm at a rate predicted by the Intergovernmental Panel on Climate Change, the United Nation-sponsored group that assesses climate change research and issues periodic reports, expected financial losses caused by...
Insured Losses from Hurricane Nate Could Top $1B
Nov 6 2017 // Catastrophe modeling companies have estimated insured losses from Hurricane Nate will reach $500 million and could even top $1 billion. Hurricane Nate formed as a tropical depression on Oct. 4, 2017, and was upgraded to a...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Nov 6 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed as of October, according to Georgia Insurance Commissioner...
Hurricanes Drive Q3 Loss for Liberty Mutual But ‘Fundamentals Remain Healthy’
Nov 3 2017 // Liberty Mutual Holding Co. Inc. reported a net loss of $665 million for the three nine months ended September 30, 2017, versus net income of $455 million for the same period in 2016. The net loss in the quarter was driven...
AIG Reports Q3 Loss on Commercial Lines Reserve Boost, Catastrophe Losses
Nov 3 2017 // Highlighting the development as a “noteworthy item” in an earnings announcement Thursday night, American International Group reported prior-year loss reserve strengthening of $836 million before taxes, which...
Winners and Losers in Republican Tax Plan
Nov 3 2017 // The tax-cut bill rolled out on Thursday by U.S. House of Representatives Republicans would help high-income taxpayers and multinational corporations, but hurt mortgage borrowers and some other taxpayers and...
Guide to Republican Tax Proposal
Nov 3 2017 // House Republicans announced a tax proposal Thursday that would cut the U.S. corporate tax rate to 20 percent, reduce most of the individual tax brackets, and cap the mortgage-interest deduction on new purchases of...
Fidelis Launches Treaty Excess-of-Loss MGA, via New MGA Platform Pine Walk
Nov 3 2017 // Bermuda-based Fidelis Insurance announced it has launched its first managing general agent (MGA), called Radius. The MGA will be run by Rob Ashton and will focus on niche specialty treaty excess of loss business, such as...
Lancashire Reports Q3 Loss of $136.4M on High Natural Catastrophe Claims
Nov 2 2017 // Lancashire Holdings Ltd reported a third-quarter pretax loss after what looks set to be the costliest quarter ever for insurers and reinsurers due to natural catastrophes, but said it was seeing some evidence of an...
Swiss Re Posts $468M 9-Month Loss, Anticipates Re/Insurance Rate Hikes
Nov 2 2017 // A rise in insurance premiums, especially in areas affected by recent hurricanes and disasters, will help Swiss Re recover from almost half a billion dollars of losses in the first nine months of this year, it said on...
Trump Actions Against Obamacare Could Mean Free Insurance for Many with Low Incomes
Nov 1 2017 // In an odd twist, low-income people in about half of U.S. counties will now be able to get a taxpayer-subsidized “Obamacare” policy for free, according to a new study that suggests some actions by President...
Why Is THAT Excluded?
Nov 1 2017 // Exclusions. Insurance policies are full of them. I’ve been reading some policy forms lately. Some to study, others because they’re interesting to me. It’s kind of a sick hobby, I’ll admit, but...
Berkshire Likely to Report Big Q3 Claims Costs – and Reduced Insurance ‘Float’
Nov 1 2017 // The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every...
Aetna Keeps Quiet About Reported CVS Merger Talks; Net Income Rises 39%
Nov 1 2017 // U.S. health insurer Aetna Inc failed to provide any hints on reported merger talks with CVS Health Corp when discussing quarterly results on Tuesday and laid out obstacles to 2018 earnings growth, sending its shares...
