Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Missouri Insurance Department: Medical Professional Liability Insurers Saw Tiny Profit in 2017
Aug 22 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
QBE’s Restructuring Gains Traction with Its Focus on Profitable Underwriting
Aug 22 2018 // QBE’s restructuring over the last year has focused on exiting loss-making businesses and portfolios, while rigorously emphasizing profitable underwriting across the group. Good progress has been made — as...
AIR Worldwide Estimates Insured Losses from Japan Floods Could Reach US$4B
Aug 21 2018 // Industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY284 billion (US$2.6 billion) and JPY423 billion (US$4.0 billion), according to...
China’s Ping An Insurance Profits Rise 34% in First Half, Biggest in 10 Years
Aug 21 2018 // Ping An Insurance Group Co of China , the country’s largest insurer by market value, on Tuesday reported its biggest half-yearly profit in at least a decade on robust customer growth. The results underline strength...
A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers
Aug 21 2018 // Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports earlier this month. Everest Re was among...
TWIA Requests 10% Rate Increase; Approves $106.8M Assessment for Harvey Losses
Aug 20 2018 // The board of directors of the Texas Windstorm Insurance Association voted at its recent quarterly meeting to raise rates for residential and commercial properties by 10 percent next year, while acknowledging a rate...
Why Profit Center Accounting Is Important
Aug 20 2018 // Is personal lines costing the agency money? How profitable is that new program business? What would happen to the bottom line if employee benefits sales increased by 25 percent? When is it time to hire a new employee for...
How to Use Profit Centers
Aug 20 2018 // Once all the income and expenses are properly allocated to the various Profit Centers, the fun can begin. Management can run reports to determine the profitability of each business segment. A quick review of the results...
Tighter Regulations in NYC Could Take Bite Out of Airbnb Profits
Aug 17 2018 // Airbnb faces tightening regulations in New York City that could take a big bite out of its profits, and on Wednesday the short-term rental company offered a counter-measure designed to appease hostile politicians: a $10...
Global Insured Catastrophe Losses Decline to $20 Billion in H1: Swiss Re
Aug 16 2018 // Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were US$20 billion, down from US$30 billion in H1 2017, according to Swiss Re Institute’s latest sigma study. On...
Australia’s QBE Reports 4% Rise in H1 Profit – on Fewer Natural Disasters
Aug 16 2018 // Australia’s QBE Insurance Group Ltd. posted a better-than-expected 4 percent rise in first-half profit, helped by fewer natural disasters in its biggest markets, sending its shares up almost 9 percent to their...
Indonesia Quake Losses Exceed Several Hundred Million Dollars; Deaths Pass 430
Aug 14 2018 // The death toll from the earthquake that rocked the Indonesian island of Lombok a week ago has passed 430 and the government is estimating economic losses will exceed several hundred million dollars. The national disaster...
Liberty Mutual’s Q2 Profit Jumps on Life Unit Sale, Lower Catastrophe Costs
Aug 12 2018 // The sale of a life insurance unit and an easing of catastrophe costs boosted Liberty Mutual Holding Co.’s net income for the second quarter to $981 million, well above the $126 million it saw in the same quarter last...
Church Mutual, Church & Casualty Pilot Wildfire Loss Prevention Program in California
Aug 10 2018 // Church Mutual Insurance Company and Church & Casualty Insurance Agency have launched CM Wildfire Solutions, a no-cost, multifaceted program to keep customers and their property safe from the devastation of...
July’s Droughts, Wildfires, Floods Caused Billions in Global Economic Losses: Aon
Aug 10 2018 // Many countries across the globe saw worsening in drought-related and wildfire conditions during July, which have led to hundreds of deaths and created a significant financial impact – particularly in the agriculture,...
Zurich’s H1 Net Income Rises 19%, Getting Boost from P/C Unit
Aug 9 2018 // Zurich Insurance Group AG got a boost from its property & casualty business, putting the company on track to meet Chief Executive Officer Mario Greco’s three-year restructuring goals. The Swiss insurer’s...
Catastrophe Bonds – A to Z
Aug 7 2018 // A reader of this publication, the president of an insurance agency, recently wrote to say he kept hearing about catastrophe bonds but had little knowledge of what they were. He was curious if these instruments would...
New AIR Reinsurance Cat Modeling Software Estimates Insurer Loss Potential
Aug 6 2018 // Catastrophe risk modeling firm AIR Worldwide announced that it has released Touchstone Re, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios,...
Casualty: The Next ILS Frontier?
Aug 6 2018 // Executive Summary: While progress has been made in the development of casualty insurance-linked securities (ILS), there still is significant work to do, says Aaron C. Koch of Milliman, who discusses some of the key...
Berkshire’s Q2 Insurance Profit Rises to $943M Compared to Loss of $22M in Q2 2017
Aug 6 2018 // This year’s looking brighter for Berkshire Hathaway Inc.’s insurance businesses after 2017’s hurricanes led to the first annual underwriting loss in more than a decade. Auto insurer Geico and the...
