Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Ping An Profit Rises 38% in 2015 on Investment Income, Jump in Life Business
Mar 16 2016 // Ping An Insurance (Group) Co., China’s second-biggest insurer, said profit rose 38 percent last year as investment returns from stock trading expanded and banking revenue increased. Net income climbed to 54.2 billion...
Judge: BP not Required to Pay Moratorium-Related Oil Industry Losses
Mar 14 2016 // A federal judge in Louisiana ruled that BP does not have to pay for economic losses other businesses suffered when the federal government shut down deep-water drilling in the wake of BP’s catastrophic 2010 oil spill...
Maine’s Nonprofit Health Insurer Sets Aside $43M to Cover Potential Losses
Mar 14 2016 // The lone health insurance cooperative to make money in 2014 on the Affordable Care Act’s public insurance exchanges saw big losses in 2015 and is now setting aside $43 million to cover possible big losses this...
Germanwings Probe Urges Change for Pilots’ Medical Privacy, License-Loss Cover
Mar 14 2016 // Pilots would lose privacy protection for health records and airlines would need insurance when the employees lose their license under a proposal from the French air-safety agency that investigated the deliberate crash of a...
Taxes Complicated for Uninsured and Newly-Insured Repaying Subsidies
Mar 11 2016 // Many people who went without health insurance last year are now seeing fines more than double under President Barack Obama’s health care law, tax preparation company H&R Block said this week. Among its customers...
Update: Hannover Re Weighs Higher Dividend After Record 2015 Earnings
Mar 10 2016 // German reinsurer Hannover Re will focus on boosting earnings rather than premiums this year and may pay out more special dividends to shareholders, Chief Executive Ulrich Wallin said on Thursday. The world’s third...
BHSI Forms Medical Stop Loss Division
Mar 9 2016 // Berkshire Hathaway Specialty Insurance Company (BHSI) announced the formation of a dedicated Medical Stop Loss Division and has appointed John Snyder to lead the effort. The company also named David Friedly as head of...
Farm Losses From Virginia Tornadoes Climbing
Mar 7 2016 // Farm losses from a series of tornadoes that battered Virginia last month stand at $1.6 million and counting. The Virginia Farm Bureau Mutual Insurance Co. says it has received 126 claims since the twisters swirled from...
Report: Frequency of Florida Water Loss Claims Up 46% in 5-Year Period
Mar 7 2016 // The frequency and severity of water loss claims in Florida have increased every year since 2010, according to data call results from the Florida Office of Insurance Regulation (OIR). During the same period, there has been...
Auto Insurer 2015 Underwriting Performance Loses Traction
Mar 7 2016 // Private passenger automobile insurance remains one of the most competitive segments in the U.S. property/casualty industry, with a number of large, well capitalized organizations battling for market share and searching for...
Liberty Mutual Profit Fell 70% in 2015
Mar 4 2016 // Liberty Mutual Insurance saw profits fall for the fourth quarter and full year 2015 due to higher catastrophe and energy-related losses. Parent Liberty Mutual Holding Co. booked $411 million in net income in Q4, a nearly...
PERILS Reduces Loss Estimate to £662M for Floods from UK’s Storm Desmond
Mar 4 2016 // PERILS AG disclosed its second, revised loss estimate for the floods which hit the UK from Dec. 4 to 24 following Storm Desmond. The latest estimate of the property insurance market loss is £662 million (933.2 million),...
Compare.com CEO Encouraged by Admiral Group’s Record 2015 Profit
Mar 3 2016 // Admiral Group plc on Thursday announced record profit for last year, and the CEO of one of its biggest brands is taking that as an endorsement of his popular online insurance shopping business model. Compare.com CEO Andrew...
Report: Florida Water Loss Claims up 46 Percent in 5-Year Period
Mar 2 2016 // The frequency and severity of water loss claims in Florida have increased every year since 2010, according to data call results from the Florida Office of Insurance Regulation (OIR). During the same period, there has been...
The MOST Basic CGL Coverage Concept
Feb 29 2016 // Begin at the beginning – with the insuring agreement! Coverage can never be any broader. This is the most basic CGL coverage concept. Before applying the policy’s exclusions, exceptions or conditions to a loss,...
Buffett Says Pessimism on Economy and America Is ‘Dead Wrong’
Feb 28 2016 // Warren Buffett reaches a broad audience with his annual letters to Berkshire Hathaway Inc. shareholders — and, on Saturday, he reached right out to U.S. voters. In sweeping passages, he rejected the economic...
State Farm Reports Investments Overcame Underwriting Loss in 2015
Feb 28 2016 // State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said 2015 profit rose 48 percent on investment gains tied to pharmaceutical holdings. Net income increased to $6.2 billion from $4.2...
Third Point Re Reports 2015 Net Loss of $87.4M on Poor Investment Returns
Feb 26 2016 // Third Point Reinsurance Ltd., which counts on Dan Loeb to oversee investments, swung to a profit in the fourth-quarter as the hedge fund manager’s results improved before a January slump. Net income was $42.2...
AXA’s 2015 Net Income Rises 12% on Life Insurance Sales in Europe, Asia
Feb 25 2016 // AXA SA, France’s largest insurer, said 2015 profit rose 12 percent, helped by higher life insurance sales in Europe and Asia. The shares rose. Net income climbed to 5.62 billion euros ($6.2 billion) from 5.02 billion...
AIA 2015 Net Income Drops 22% on Weak Asian Currencies, Market Volatility
Feb 25 2016 // AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 22 percent decline in full-year profit as weaker regional currencies and stock-market gyrations detracted from business growth. The insurance...
