Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Citizens Implements Review Program for Florida Water Loss Claims
Aug 8 2016 // Florida’s insurer of last resort, Citizens, has expanded its efforts to curb increasing water loss claims with a new Water Mitigation Estimate Review Program. Citizens Chief Claims Officer Jay Adams said the new...
Liberty Mutual Q2 Results Zapped by Energy Investments
Aug 5 2016 // Liberty Mutual Holding Co. Inc. reported net income of $15 million for the second quarter, a 94 percent drop from the $254 million recorded for last year’s second quarter. Energy investments were largely to blame for...
Third Point Re’s Q2 Net Income Rises to $53.4M in Biggest Profit Since 2013
Aug 5 2016 // Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income more than tripled to...
Just 2% of China’s July Floods Covered by Insurance, vs. Nearly 70% in U.S.: Aon
Aug 5 2016 // China’s seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact...
Allianz Q2 Profit Drops 46% on Nat Cat Claims, Expected Sale of South Korea Unit
Aug 5 2016 // Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income...
Allstate Q2 Profit Hurt by Catastrophes, Auto Loss Costs
Aug 4 2016 // Allstate Corp. reported that consolidated total revenue increased by 2.0 percent to $9.2 billion in the second quarter of 2016 compared to the prior year quarter, as higher insurance premiums outweighed declines in net...
State Auto Financial Reports Net Loss of $24.6M in Q2 2016
Aug 4 2016 // Columbus, Ohio-based super regional insurer, State Auto Financial Corp. (STFC), has reported a second quarter 2016 net loss of $24.6 million, or $0.59 per diluted share, versus net income of $2.7 million, or $0.06 per...
UK Insurers Aviva and RSA Report Higher H1 Profits, Shrug Off Brexit Fallout
Aug 4 2016 // Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in London trading. Aviva, the...
Lower Costs, Improved Underwriting Boost AIG Profit in Q2
Aug 3 2016 // American International Group Inc., the largest commercial insurer in the United States and Canada, reported an operating profit that beat analysts’ estimate, driven by lower costs and strong underwriting during the...
Greenlight Re Seeks Recovery in Mortgage Market After Construction, Vehicle, Florida Losses
Aug 3 2016 // David Einhorn’s Greenlight Capital Re Ltd., the reinsurer seeking to reverse underwriting losses, is pushing into the mortgage-guaranty market after being burned by fraudulent claims on property policies in...
AXA H1 Net Income Rises 4% to $3.6B as L&H Earnings Offset Cat Losses
Aug 3 2016 // AXA SA, France’s biggest insurer, said first-half profit rose 4 percent as increased earnings from life and health insurance helped offset higher claims from natural catastrophes. Net income climbed to 3.2 billion...
Greenlight Capital Re Reports Q2 Loss of $63M, in 5th Loss in 6 Quarters
Aug 2 2016 // Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee investments, posted its fifth loss in six quarters as the portfolio slumped. The second-quarter net loss widened to $63...
CNA Reports Q2 Results with Improved P/C Underwriting
Aug 2 2016 // CNA Financial Corp. reported second quarter 2016 net income of $209 million and net operating income of $201 million. “Overall I am pleased with the result this quarter. Although our International segment had a...
Hartford Net Income Down 48% in Q2 on Weakened Underwriting Results, Investment Income
Jul 29 2016 // The Hartford reported net income of $216 million in second quarter 2016 ended June 30, a decrease of $197 million or 48 percent from second quarter 2015, principally due to lower property/casualty underwriting results and...
Generali Q2 Net Income Falls 6% on Low Interest Rates & Volatile Equity Markets
Jul 29 2016 // Assicurazioni Generali SpA, Italy’s biggest insurer, said second-quarter profit fell 6 percent as low interest rates and volatile equity markets hurt investment gains. Net income declined to 590 million euros ($654...
Swiss Re Q2 Profit Drops on Higher Natural Catastrophe Losses
Jul 29 2016 // Swiss Re AG, the world’s biggest reinsurer, said profit fell in the second-quarter as the company paid more for catastrophe claims including earthquakes in Japan and forest fires in Canada. Net income declined to...
Meeting of 2 Minds on Worker Safety as Path to Profit
Jul 28 2016 // Adam Friedlander is a third generation insurance professional who has made his mark in safety, workplace safety that is. His New York agency, Friedlander Group, has for years developed and managed employer safety groups...
P/C Insurers Face Tough Sledding in 2016, Warns S&P
Jul 26 2016 // This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by...
Everest Re Group Reports Q2 Net Income of $155.7M vs. $209.1M in Q2 2015
Jul 26 2016 // Bermuda-based Everest Re Group Ltd. reported second quarter 2016 net income of $155.7 million, or $3.67 per diluted common share, compared to net income of $209.1 million, or $4.68 per diluted common share, for the same...
Citizens Implements $1.8M Estimate Review Program for Florida Water Loss Claims
Jul 26 2016 // Florida’s insurer of last resort, Citizens, has expanded its efforts to curb increasing water loss claims with a new Water Mitigation Estimate Review Program. Citizens Chief Claims Officer Jay Adams said the new...
