Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insured Disaster Losses Higher in Oklahoma Than in Any Other State in 2013
May 12 2014 // May 20, 2014, marks the one-year anniversary of the deadly tornado outbreak in Moore, Oklahoma, which contributed to the state’s designation as the site of the costliest U.S. natural disasters in 2013, according to...
Nationwide Reports P/C Premium Up 6% in Q1; Weather Lowers P/C Profit
May 12 2014 // Nationwide reported total operating revenue of $6.1 billion for the first three months of 2014, up 5 percent over the same period last year and steady compared to fourth quarter 2013. First quarter operating earnings were...
In Charleston, Business Interruption Losses from Chemical Spill Take Toll
May 12 2014 // Restaurants and storefronts are buzzing again in West Virginia’s capital city of Charleston, but many still haven’t filled a financial hole after chemicals sullied their running water and forced them to close...
Allianz Q1 2014 Profit Falls 2.9%, but Beats Estimates
May 8 2014 // Allianz SE, Europe’s biggest insurer, reported first-quarter operating profit that fell 2.9 percent, less than analysts estimated, and said it was maintaining its earnings target for the year. Operating profit was...
Aon Benfield’s Impact Forecasting Highlights U.S. Losses in April Cat Report
May 8 2014 // Aon Benfield’s Impact Forecasting’s latest edition of its monthly Global Catastrophe Recap report, Highlights the “multi-day outbreak of severe weather and flash flooding in the U.S.”, which, the...
Strong Euro Decreases Munich Re’s Q1 Net Profit, Premium Income
May 8 2014 // The world’s largest reinsurer, Munich Re, reported an almost 5 percent drop in net profit in the first quarter, as a strong euro dragged down premium income. “Despite negative currency effects, we almost...
Weakness in Pricing Lowers Reinsurers’ Q1 2014 Profits
May 7 2014 // Swiss Re and Hannover Re, the world’s no. 2 and 3 reinsurers, said they saw lower prices in natural disaster reinsurance and April renewals, as they beat profit expectations in the first quarter. Fewer serious...
March Freeze Could Mean $27M in South Carolina Peach Losses
May 7 2014 // Officials said the late March freeze that killed roughly 30 percent of this year’s South Carolina peach crop will cause statewide losses of at least $27 million. During a stop at the headquarters of the J.W. Yonce...
Allstate Q1 Profit Drops on Weather Losses
May 7 2014 // Allstate Corp. reported that higher losses from catastrophes due to severe winter weather cut into profits in the first quarter while higher premiums helped offset the effect. The company reported net income of $587...
‘Inhance’ Launched to Plug Re/Insurers’ Cat Loss Information Gaps
May 7 2014 // Lloyd’s Old Library was the setting yesterday for the launch of inhance, a new product designed to close gaps in existing models that continue to expose re/insurers – and companies – to unexpected catastrophe...
Swiss Re Posts $1.226 Billion Q1 Net Income
May 7 2014 // Swiss Re reported group net income of $1.226 billion for the first quarter of 2014, compared to $1.38 billion in the first quarter of 2013. The bulletin noted that the 11 percent drop should be seen in light of the...
ING Q1 Profit Misses Estimates; Loan Losses Remain High
May 7 2014 // Dutch financial group ING made underlying profits of €988 million ($1.374 billion) in the first quarter of the year, slightly missing expectations, as loan losses remained high despite a better outlook for the Dutch...
AIG Profit Falls 27% in Q1; Hurt by Catastrophes, Severe Losses
May 6 2014 // Global insurer American International Group Inc. (AIG) reported net income of $1.6 billion for the first quarter, a 27 percent drop compared to $2.2 billion for the first quarter of 2013. After-tax operating income was...
Commercial Auto Insurers Still Struggle to Profit: Fitch
May 6 2014 // Commercial automobile insurers reported a third consecutive year of underwriting losses in 2013. According to an analysis by Fitch Ratings, the combined ratio came in at 106 for 2013 compared with 107 for 2012. In a...
Berkshire Hathaway 1Q P/C Re/Insurance Results Down from Last Year
May 5 2014 // Berkshire-Hathaway’s primary property/casualty operations recorded double-digit gains in premiums and pre-tax earnings in the first quarter, but P/C reinsurance results contributed to a 6.6 percent drop in operating...
Liberty Mutual’s 1Q Profit Declines 14.5% to $272M
May 5 2014 // Liberty Mutual Holding Co. Inc. reported $272 million net profit for its 2014 first quarter, a decline of $46 million or 14.5 percent from $318 million net profit reported during the same period in 2013. The Boston-based...
California Work Comp Board: 2013 Losses to Hit 11-year High
May 5 2014 // California workers’ compensation losses and loss adjustment expenses on insured claims injuries and illnesses are projected to hit an 11-year high for 2013, according to the Workers’ Compensation Insurance...
Competition & Best Practices Results
May 5 2014 // A recent study reviewed in The Economist (Jan. 13, 2014) proved that competition was required to foster business success and progress. This makes sense. Competition is in many ways the “invisible hand” that...
Numbers Don’t Lie: Agency Best of the Best
May 5 2014 // Contingency and Overrides: Focus On It, but Don’t Rely On It Contingency and override income can be a huge driver of agency value. 2013 was a strong year compared to 2011 and 2012 and according to the 2013-2014...
Marsh Revenue Up 5% in 1Q
May 4 2014 // Marsh & McLennan Companies Inc. (MMC) reported underlying revenue growth in the fourth quarter of four percent, an increase in adjusted operating income of 11 percent and continued margin expansion in both its Risk and...
