Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Top 5 Issues in Often-Misunderstood Business Interruption Insurance
Jun 3 2015 // The high costs related to business interruption should provide an impetus for companies to prep for them in advance, according to industry experts. During a recent webinar hosted by global broker Marsh, insurance experts...
Ratings of Ohio’s Buckeye State Mutual Downgraded
Jun 3 2015 // A.M. Best has downgraded the financial strength rating to B (Fair) from B+ (Good) and the issuer credit ratings to “bb+” from “bbb-” of Buckeye State Mutual Insurance Co. (Buckeye) of Piqua, Ohio,...
Australia’s April-May Storm Loss Claims Reach US$1.208 Billion
Jun 3 2015 // The Insurance Council of Australia (ICA) announced that insurance losses from claims following from storms in April and May at A$1.551 billion [US$1.208 billion], as a series of severe storms hit eastern Australia. The ICA...
India’s GIC Re Posts $455 Million Profit for Fiscal 2014-15
Jun 2 2015 // General Insurance Corporation of India (GIC Re), the sole Indian Reinsurer, announced that it has earned a profit before tax of $455 million during the year 2014-15 with a growth of 22.75 percent. The profit after tax...
Connecticut Upholds Coverage Denial in IBM Data Loss Case
Jun 1 2015 // The Connecticut Supreme Court upheld a lower court’s ruling on May 18 that Federal Insurance Company and Scottsdale Insurance Company are not required to defend or indemnify the insureds for the loss of computer...
Allstate Sees Profit in Selling Customer Driving Data
May 28 2015 // Allstate Corp. said improved technology will eventually give the auto insurer a chance to boost revenue by selling customer driving data, much as Google Inc. profits by collecting information on those who use its search...
Farmers in Arkansas Expect Losses from Flooding
May 28 2015 // Farmers across Arkansas are still weathering a series of spring showers that have flooded fields, smothered crops and swept away cattle. Since March 1, between 12 to 18 inches of rain has fallen across the Arkansas River...
For P/C Insurers, 2014 Was Better Than Average Year
May 26 2015 // Analysts who predicted the U.S. property/casualty industry would have a tough time topping its 2013 results in 2014 were largely correct as there was some slippage. However, while property/casualty insurers were not as...
Zurich Aims to Cut Costs by $1B, Seeking to Reverse Earnings Decline
May 21 2015 // Zurich Insurance Group AG, Switzerland’s biggest insurer, will cut costs by more than planned as it seeks to reverse a drop in earnings. Chief Executive Officer Martin Senn said he will make additional annual savings...
Is it Flood or Water Damage – Part IV of Flood, Flood or Flood
May 21 2015 // To review prior articles, links are here for Part I, Part II, and Part III. Part IV What the Insured Said Let’s bring this discussion back full circle to discuss what happened. What did the insured actually mean by...
Vienna Insurance Posts Lowest Q1 Profit Since ’09, Hit by Low Interest Rates
May 20 2015 // The financial repercussions of record-low interest rates in Europe were highlighted Wednesday as Vienna Insurance Group AG, eastern Europe’s biggest insurer, posted its worst first-quarter profit since the financial...
Connecticut High Court Upholds Coverage Denial in IBM Data Loss Case
May 18 2015 // The Connecticut Supreme Court on Monday upheld a lower court’s ruling that Federal Insurance Company and Scottsdale Insurance Company are not required to defend or indemnify the insureds for the loss of computer...
Industry Examines Potential Claims Issues Following Riots
May 18 2015 // Some 140 vehicle fires, more than a dozen structural fires and nearly 200 arrests were reported in the wake of Baltimore riots that shook the city in late April. And more than 200 businesses were damaged during the riots,...
P/C Insurers Post Underwriting Profit, Record Surplus for 2014
May 18 2015 // The U.S. property/casualty insurance industry posted its second consecutive year of profitable underwriting results in 2014, according to A.M. Best. Surplus for this sector increased by $21.9 billion and reached another...
Outlook for Dallas-Based MGA Insurance Revised to Positive
May 15 2015 // A.M. Best has revised the outlook to positive from stable for the issuer credit rating (ICR) of MGA Insurance Co. Inc. (MGA) in Dallas and affirmed its ICR of “bbb.” Concurrently, A.M. Best has affirmed the...
Update: Generali Q1 Operating Profit Rises 6% to $1.5B on Investment Income
May 14 2015 // Assicurazioni Generali SpA, Italy’s biggest insurer, reported the highest quarterly operating profit in seven years, spurred by a surge in investment income. Profit in the three months to March climbed 6 percent to...
Flood, Flood or Flood! Who Responds: AAIS, ISO or NFIP? – Part III
May 13 2015 // Part III AAIS’s Flood Coverage Endorsement “Flood” becomes a covered cause of loss by attachment of AAIS’s Flood Endorsement CO 1223 (The Flood Endorsement specifically designed for the COP XL is...
Liberty Mutual Reports Solid Q1 Results
May 12 2015 // Despite higher catastrophe costs, Liberty Mutual Holding Co. Inc. and its subsidiaries reported net income of $276 million for the three months ended March 31, 2015, an increase of $11 million or 4.2 percent over the same...
Outflows From Pimco Cut Allianz Asset Management’s Q1 Profit by 14%
May 12 2015 // Allianz SE, Europe’s biggest insurer, said first-quarter profit from asset management slid on outflows from Pacific Investment Management Co. Operating profit at the business, which consists of Newport Beach,...
A.M. Best: Australia’s Nat Cat Losses Will Challenge Underwriting Profits
May 12 2015 // A string of recent major natural catastrophe events in Australia is expected to materially affect non-life insurers’ upcoming earnings for the fiscal year that ends June 30, 2015, according to an A.M....
