Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Wisconsin Ginseng Losses Lead to Disaster Designation Request
Aug 13 2015 // Gov. Scott Walker is seeking a federal disaster designation for three Wisconsin counties where farmers lost nearly a third of their ginseng crop this spring. Walker’s office asked U.S. Department of Agriculture...
Liberty Mutual Had a ‘Messy’ Second Quarter
Aug 13 2015 // “Things got a bit messy in the second quarter.” That’s how David Long, chairman and CEO of Liberty Mutual Holding Co., summarized his firm’s second quarter results, which saw a 36 percent decline in...
International General Insurance Reports $16.2 Million 1st Half Earnings
Aug 13 2015 // Dubai-based International General Insurance Holdings Limited (IGIH) announced net earnings of $16.2 million for H1 2015 and a dividend of US $ 0.04 per share. Net earnings for the first half of 2014 were $18.5 million. The...
Billionaire Sterling Sues TMZ, Friend Over Clippers Loss
Aug 12 2015 // Billionaire Donald Sterling sued celebrity website TMZ and an ex-girlfriend over the recording of his off-color remarks that cost him ownership of the Los Angeles Clippers. Sterling’s lawsuit filed last week in Los...
Organically Speaking, Independent Agencies Are Very Profitable
Aug 11 2015 // Independent agencies are enjoying a period of high profitability boosted by healthy organic growth despite continued soft pricing in commercial lines. Independent insurance agents/brokers posted median organic growth of...
Coinsurance: The Property Insurance Version of a 4-Letter Word
Aug 11 2015 // Coinsurance provisions found in property policies exist primarily to assure that the insurance carrier receives adequate premium for the property insured. Without a coinsurance condition, and its applicable penalties,...
Estimates for 1stHY 2015 Puts Cat Economic Losses at $37 Bn: Swiss Re Study
Aug 11 2015 // A new sigma study from Swiss Re estimates that “total economic losses from natural catastrophes and man-made disasters reached $37 billion in the first half of 2015. The global insurance industry covered nearly 45...
Update: Delta Lloyd’s $588 Million First Half Loss Raises Capital Concerns
Aug 11 2015 // Delta Lloyd NV fell the most on record after interest-rate hedging and declines in bonds spurred a first-half loss, raising concern the Dutch insurer may need to raise capital. The shares fell 20 percent to 13.17 euros at...
Berkshire Insurance Units Slump in Q2
Aug 10 2015 // Warren Buffett’s Berkshire Hathaway Inc. posted second-quarter profit that missed analysts’ estimates because of higher claims costs at insurance units including Geico. Net income dropped 37 percent to $4.01...
Auto Losses Seen Cutting P/C Insurance Profits Until 2016
Aug 10 2015 // The property/casualty insurance industry has made money on its personal lines underwriting since 2013 but that is likely to change in 2015. At the same time, commercial auto insurance should still make an underwriting...
RSA Reports 84% Jump in 1st Half Operating Profit
Aug 7 2015 // RSA Insurance Group plc, the subject of a potential takeover bid by Zurich Insurance Group AG, reported a jump in first-half profit that beat analyst estimates and restored the interim dividend. Operating profit rose 84...
UPDATE: Allianz 2nd Quarter Profit Rises 15% on Fewer Nat Cat Claims
Aug 7 2015 // Allianz SE, Europe’s biggest insurer, said second-quarter profit rose 15 percent as lower claims from natural catastrophes offset a drop in earnings at Pacific Investment Management Co. Net income increased to 2.02...
Third Point Re Reports Q2 Net Income of $15.7M, 49.9% Decline From 2014
Aug 6 2015 // Third Point Reinsurance Ltd., headquartered in Bermuda, reported net income of $15.7 million, or $0.15 per diluted common share, for the second quarter of 2015, compared with net income of $31.3 million, or $0.29 per...
Zurich Q2 Net Income Falls to $840M From $848M; CEO Weighs RSA Offer
Aug 6 2015 // Zurich Insurance Group AG, the Swiss firm considering a bid for the UK’s RSA Insurance Group plc, reported profit that missed analysts estimates as earnings dropped 43 percent at the general insurance unit and it...
Munich Re Q2 Net Income Rises to $1.14 Billion on Lower Catastrophe Claims
Aug 6 2015 // Munich Re, the world’s biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose. Net income rose to 1.07 billion euros [$1.14 billion]...
Endurance Reports Q2 Net Income of $76M, Versus $75M in Q2 2014
Aug 6 2015 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $76.0 million and $1.68 per diluted common share for the second quarter of 2015 versus net income of $75.0 million and...
Auto Claims Hit Allstate’s Q2 Results
Aug 5 2015 // Allstate Corp. reported net income fell to $355 million in the second quarter, down from $645 million, as the insurer coped with rising auto claims costs. The Allstate brand suffered an underwriting loss for the...
10 Business Insurance Lessons and 1 Owner’s Advice from Katrina
Aug 5 2015 // Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses. Many of the lawsuits filed as a result of the fifth hurricane of...
Argo Reports 2015 Q2 Net Income of $27.9M, Compared to $38.6M in 2014
Aug 5 2015 // Argo Group International Holdings Ltd. reports net income of $27.9 million or $0.98 per diluted share, compared to $38.6 million or $1.32 per diluted share for the second quarter of 2014. “Argo Group’s second...
Hannover Re Q2 Profit Rises 19% on P&C Earnings
Aug 5 2015 // Hannover Re, the world’s third-largest reinsurer, said second-quarter profit rose 19 percent, as lower catastrophe claims helped a surge in earnings from property and casualty. Net income increased to 252.2 million...
