Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insured Loss Estimate for Italy’s October Quakes Hits $134.2M: PERILS
Jan 26 2017 // PERILS AG has disclosed its second loss estimate for the series of earthquakes which hit Central Italy between Oct. 26 and Oct. 30, 2016. Affecting the regions of Lazio, Marche and Umbria, the series included three major...
AIG Reinsurance Deal May Spell Short-Term Loss, Long-Term Gain for Berkshire
Jan 25 2017 // Berkshire Hathaway Inc.’s record risk-transfer agreement with American International Group Inc. is so big that Warren Buffett’s company risks posting its first annual underwriting loss since 2002 at its...
P/C Insurers Fell to $1.7 Billion Underwriting Loss in First 9 Months of 2016
Jan 25 2017 // For private U.S. property/casualty insurers, the first nine months of 2016 were markedly worse than the same period in 2015, due to higher catastrophe losses and less favorable reserve development. The period produced a...
Private Equity Returns Boost Travelers Q4 Profit
Jan 24 2017 // Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit jumped 8.9 percent as investment income improved and the company recorded a gain tied to the settlement of...
1/1 Renewals Saw Some Price Stabilization, Record Capital, Demand Uptick: JLT Re
Jan 24 2017 // The challenging operating environment confronting reinsurers has led to some price stabilization at the Jan. 1, 2017 renewals, as they face the reality of deteriorating results and margin compression, according to JLT Re...
Oklahoma Lawmaker Proposes Changes to Personal, Corporate Income Taxes
Jan 19 2017 // Oklahoma State Rep. Jason Dunnington has filed legislation that he says would generate more than $500 million in recurring revenue. Oklahoma is facing severe budget constraints, partly due to reduced energy industry...
Georgia Estimates $30M in Insured Losses from Early January Storm
Jan 19 2017 // A violent storm that hit southwest Georgia at the start of the year, killing at least one person, is estimated to have caused $30 million in insured losses, according to the state’s insurance office. Insurance...
Aon Launches Loss Estimating Risk Tool for Oil, Gas and Petrochemical Sectors
Jan 18 2017 // Aon Global Risk Consulting, in collaboration with TNO, a research agency, has launched the Aon Loss Estimating Risk Tool (ALERT), a new modelling tool for oil, gas and petrochemical clients. The new tool is able to model...
26% of Natural Disaster Economic Losses in 2016 Were Insured: Aon Benfield Cat Report
Jan 17 2017 // Overall, just 26 percent ($54 billion) of overall economic losses caused by natural disasters worldwide during 2016 were covered by insurance as a higher percentage of damage occurred in areas with a lower insurance...
Hearst Media Buys Work-Loss Data Institute
Jan 17 2017 // The giant media firm Hearst has acquired Work-Loss Data Institute (WLDI), a provider of healthcare data and guidelines to the workers’ compensation industry. Terms of the deal were not disclosed. WLDI will become...
Midwest Regulation Report Card: States’ Grades Range from A to D
Jan 9 2017 // Grades assigned to the insurance regulatory systems in the Midwest states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin range from A to D in a...
South Central Regulation Report Card: Texas’ Grade Rises, Arkansas’ Drops
Jan 9 2017 // No South Central state had the best score and none had the worst in a report recently released by a conservative-leaning research organization that annually assesses the effectiveness states’ insurance regulatory...
California Court Orders Hot Yoga Guru to Cough up Income to Pay For Suit
Jan 6 2017 // The founder of Bikram yoga has been ordered to turn over the proceeds from his global fitness business to go toward a $6.8 million judgment his former legal adviser won against him last year in a sexual harassment and...
New York Issues First-in-Nation Regulation on Commercial Crime Insurance
Jan 3 2017 // New York State’s Department of Financial Services (DFS) in December issued a new regulation that prohibits insurance companies from denying commercial crime insurance coverage to New York businesses employing people...
Why Young Insurance Agents Are So Optimistic
Dec 29 2016 // It’s no secret that the insurance industry is facing a huge talent gap. Almost half of all insurance professionals are over age 45, with 25 percent of the industry expected to retire by 2018. That’s a...
South Central Regulation Report Card: Texas’ Grade Rises, Arkansas’ Drops
Dec 22 2016 // No South Central state had the best score and none had the worst in a report recently released by a conservative-leaning research organization that annually assesses the effectiveness states’ insurance regulatory...
Midwest Regulation Report Card: States’ Grades Range from A to D
Dec 22 2016 // Grades assigned to the insurance regulatory systems in the Midwest states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin range from A to D in a...
Anthem-Cigna Merger Trial Pits Efficiency Claims vs. Loss of Competition Claims
Dec 19 2016 // Anthem Inc. and the U.S. Justice Department extended their clash over whether the insurer’s planned takeover of rival Cigna Corp. will raise costs, as government witnesses testified Friday that the deal will harm...
Florida Ruling Against Insurer in Concurrent Loss Case ‘Not a Surprise’
Dec 19 2016 // The Florida Supreme Court has ruled in favor of policyholders seeking coverage on claims where there is the possibility of multiple concurrent losses but at least one of the losses is covered under their policy. Though the...
Hartford’s Execs Make Plea to End ‘Real Issue, Real Pain’ of Distracted Driving
Dec 16 2016 // Although small commercial insurance—outside of auto—is a top-line accelerator at The Hartford, auto insurance severity continues hitting the bottom line, say executives who expect a pretax $50 million prior-year...
