Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Large, Mid-Sized Agencies See Revenue Growth in Q1: Reagan
May 23 2016 // Organic revenue growth at privately-held large and mid-sized insurance agencies bounced to 5.1 percent for the first quarter of 2016, up from 4.6 percent for the full year 2015, according to the latest Reagan Consulting...
Insured Losses Mount in Ohio from April Storms
May 23 2016 // The Ohio Insurance Institute reports that preliminary estimates of an April storm outbreak caused insured property losses of up to $57.8 million in Ohio alone. Several other states, including Illinois and Indiana, were...
Allstate: Texas Hail Event Accounts for Half of April Cat Losses
May 19 2016 // The Allstate Corp. announced estimated catastrophe losses for the month of April 2016 of more than $600 million, pre-tax ($411 million after-tax). Half of the losses stem from one severe hail event in Texas last...
Fitch Expecting P/C Commercial Insurance Business to Deteriorate
May 19 2016 // Underwriting performance for the commercial lines sector of the U.S. property/casualty (P/C) insurance industry is likely to deteriorate in 2016, according to a new report from Fitch Ratings. The expected decline would...
P/C Insurers Caught Between Slowing Premium Growth and Rising Loss Ratios
May 18 2016 // For U.S. property/casualty insurers, net written premium still grew in 2015, but the rate of expansion is slowing, and the industry’s collective combined ratio worsened slightly, according to a new report from ISO...
Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies
May 17 2016 // The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe...
Zurich Restructure on Track, but Organization Still too Complex: CEO Greco
May 16 2016 // While Zurich Insurance Group’s new chief executive officer believes the insurer is on the right track in terms of growth and profit, the organizational structure remains too complicated, he suggested during an...
U.S. Judge Nixes Obamacare Funds to Insurers for Lower Income Insureds; Administration to Appeal
May 12 2016 // A U.S. judge on Thursday handed a victory to congressional Republicans who challenged President Barack Obama’s signature healthcare law, ruling that his administration overstepped its constitutional powers relating...
Ohio Insurer Group: April Storm Losses Estimated at $52.6-57.8M
May 12 2016 // The Ohio Insurance Institute reports that an early April storm that caused significant property losses in Ohio and several other states, caused as much as $57.8 million in insured losses in Ohio alone. According to the OII...
Generali Profit Drops 14% to $672M on Lower Income from Life Business
May 12 2016 // Assicurazioni Generali SpA, Italy’s biggest insurer, said first-quarter profit fell 14 percent on lower income from its life insurance business and after record capital gains from last year weren’t repeated....
Zurich’s Q1 Net Income Down 28% to $875M, Beating Analysts’ Expectations
May 12 2016 // Zurich Insurance Group AG, Switzerland’s biggest insurer, posted a first-quarter profit that beat analysts’ expectations as Chief Executive Officer Mario Greco continues the overhaul of its biggest unit. Net...
Medical Professional Liability Insurers’ Profits Decline But Outlook Stable: A.M. Best
May 11 2016 // The specialty medical professional liability (MPL) insurance industry remained profitable in 2015, however its net income fell nearly 36.6 percent to almost $1.1 billion in 2015. In a special report, A.M. Best said the MPL...
Citizens Implements Contract Changes to Address Florida Water Losses
May 10 2016 // Citizens Property Insurance Corp. is alerting policyholders to important policy changes beginning July 1 as part of the state-backed insurer’s efforts to improve communication and protect customers early in the...
Louisiana Commissioner: FEMA Extended Proof of Loss Form Filing Deadline
May 10 2016 // Louisiana Insurance Commissioner Jim Donelon is reminding the state’s residents and businesses that the Federal Emergency Management Agency has granted a 60-day extension for filing proof of loss forms by National...
Large, Mid-Sized Agencies Grew 5%, Maintained Strong Profit in Q1: Reagan
May 10 2016 // Organic revenue growth at privately-held large and mid-sized insurance agencies bounced to 5.1 percent for the first quarter of 2016, up from 4.6 percent for the full year 2015, according to the latest Reagan Consulting...
Munich Re’s Q1 Net Income Drops to $489.9M; Annual Profit Target Revised
May 10 2016 // Munich Re, the world’s second-biggest reinsurer, revised its full-year profit target to include restructuring charges at its primary insurance unit and losses on equity investments that hit first-quarter earnings....
Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports
May 9 2016 // While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and...
Allstate Absorbed Higher Catastrophe Losses, Lower Investments in Q1
May 9 2016 // Catastrophe losses including those from two severe hailstorms left their mark on the Allstate Corp. in the first quarter, with net income during the period plunging more than 65 percent. Echoing trends from other...
Global Reinsurer Profits Expected to Dip in 2016 as Soft Market Takes Toll: Fitch
May 9 2016 // Global reinsurance sector profits in 2016 will fall below 2015 levels as soft market rates, low investment income and an over-supply of capital continue to take their toll on the market, according to a new report from...
How P/C Insurers Fared in 2015
May 9 2016 // The U.S. property/casualty (P/C) industry marked a third consecutive year of underwriting profitability, with $6.2 billion in underwriting income in 2015. However, the lower level of underwriting income and an 11.2 percent...
