Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allianz Reports 22% Drop in Q4 Profit but Still Plans Dividend Hike
Feb 16 2018 // A record year for natural-disaster insurance claims worldwide and a decline in fourth quarter profit wasn’t enough to stop Allianz SE from raising its dividend. Europe’s biggest insurer will increase the...
Kemper to Acquire Nonstandard Auto Insurer Infinity in $1.4 Billion Deal
Feb 13 2018 // Chicago-based insurer Kemper Corp. has agreed to acquire Birmingham-based Infinity Property and Casualty Corp. in a cash and stock transaction valued at approximately $1.4 billion, or $129.00 per share, creating an insurer...
Nearly 670K Property Insurance Claims in Texas from Hurricane Harvey: TDI
Feb 13 2018 // Hurricane Harvey resulted in nearly 670,000 in combined personal and commercial property insurance claims to private insurers, the Texas Windstorm Insurance Association (TWIA) and the Texas Fair Access to Insurance...
CNA Reports Solid Q4 and Year 2017 Despite Catastrophes
Feb 13 2018 // Insurer CNA saw its fourth quarter 2017 combined ratio improve and its quarterly net income dip only slightly despite catastrophe losses. For the full year 2017, it achieved net income of nearly $900 million, which was...
Aspen Looks to Rebound from ‘Considerable Poor Performance’ by Insurance Unit
Feb 12 2018 // Aspen Insurance Holdings lost nearly $185 million in the 2017 fourth quarter, or $3.25 per diluted share. The struggling Bermuda-based insurer and reinsurer also saw its consolidated combined ratio hit 152.6. While...
AIG’s Doubling of Q4 Loss Pinned on Wildfires, Tax Act
Feb 9 2018 // American International Group reported a net loss of $6.7 billion for the fourth quarter of 2017, compared to a net loss of $3.0 billion in the prior-year quarter. The fourth quarter of 2017 net loss included a charge of...
South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates, Filing Requirements
Feb 8 2018 // South Carolina has alerted insurers of several changes to loss costs for the state’s voluntary and assigned risk workers’ compensation markets, and has issued a requirement that updated loss cost multipliers be...
Investments, Tax Cuts Boosted Allstate Profit in Q4
Feb 8 2018 // The Allstate Corp., like many carriers, faced an enormous hit from natural catastrophe losses in the 2017 fourth quarter. Investment returns soared by double digits, however, and the Trump tax cuts gave it a one-time gain,...
A.M. Best Calculates P/C Insurers’ Underwriting Loss for 2017
Feb 7 2018 // Rating agency A.M. Best expects the U.S. property/casualty insurance industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. The expected net underwriting loss for 2017 of...
Jeff Davis, ICA, to Speak on Climate Change and Property Losses at Atlanta RIMS
Feb 7 2018 // Charlotte, NC, February 7, 2018 – Insurance Claims Adjusters, LP (ICA) is pleased to announce that Jeff Davis, vice president of claims and director of business development, will be a panelist at the 2018 Atlanta...
Mercury General in California Posts 4Q Profit, Rise in Premiums Written
Feb 6 2018 // Mercury General Corp. has reported fourth-quarter net income of $19.8 million, after reporting a loss in the same period a year earlier. The Los Angeles-based company said it had net income of 36 cents per share. Earnings,...
Potential Trump Tax Loophole for Pass-Through Businesses
Feb 6 2018 // If exploiting a tax loophole is as much an art as a science, then the tax planning profession is poised for a creative renaissance. The inspiration is the tax law signed by President Donald Trump in December. The patrons...
Still an Uphill Climb for Commercial Auto Market
Feb 5 2018 // The difficult job of moving commercial auto insurance to a profitable place has not gotten any easier. More vehicles on the road thanks to a rebounding economy, more miles driven, distracted drivers and...
January Reinsurance Renewals Saw Hikes of Up to 5%, with More Expected: S&P
Feb 5 2018 // Global reinsurance pricing in aggregate was flat to up about 5 percent during the January 2018 renewals, and more price hikes can be expected in loss-affected areas during the year, according to S&P Global...
Chubb Records Solid Q4 and Year Despite Catastrophe Losses
Jan 31 2018 // Chubb had a solid last quarter of 2017 and year even though challenged by wildfire and other catastrophe costs. Fourth quarter results were enhanced by a one-time gain from the Trump tax cuts. The insurer booked $1.5...
PERILS Raises Insured Loss Estimate for Germany-Austria’s Cyclone Herwart
Jan 29 2018 // PERILS AG has raised the loss estimate for windstorm Herwart which hit Austria and Germany on Oct. 29, 2017 to €255 million ($316.9 million). This compares to the initial loss estimate of €252 million ($313.2 million)...
January Renewals Saw Rate Hikes of Up to 5%, with More Expected: S&P
Jan 25 2018 // Global reinsurance pricing in aggregate was flat to up about 5 percent during the January 2018 renewals, and more price hikes can be expected in loss-affected areas during the year, according to S&P Global...
Insured Natural Disaster Losses in 2017 Were 38% of Economic Costs of $353B: Aon
Jan 24 2018 // Insured losses for last year’s 330 natural catastrophes reached US$134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon Benfield’s...
QBE Expects US$1.2B Loss in 2017 from ‘Unprecedented’ Natural Catastrophes
Jan 24 2018 // QBE announced to the market this week that it expects a US$1.2 billion after-tax loss in 2017 on “unprecedented” natural catastrophe claims. “This has been a challenging year for QBE, reflecting an...
Losses From Southern California Fire Could Reach $2.5B, Expert Says
Jan 23 2018 // Losses from the Thomas Fire in Southern California are expected to fall between $1 billion and $2.5 billion, a catastrophe modeling firm said on Tuesday. The Thomas Fire, which raged across Southern California’s...
