Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
AIG Reports Q3 Results With $450M in Losses From Ian
Nov 2 2022 // Third quarter net income attributable to American International Group (AIG) shareholders increased about $1 billion compared with the same time period a year ago, even with catastrophe and investment losses. Q3 net income...
Initial Insured Loss for Typhoon Nanmadol Estimated ¥114B (US$768M)
Nov 1 2022 // Initial insurance industry losses from Typhoon No. 14, aka Nanmadol, which hit Japan in September 2022, are an estimated 114 billion Japanese yen (US$768 million), according to PERILS, the independent Zurich-based...
Commissioner Says 2021 Colorado Wildfire Losses Surpass $2B
Oct 31 2022 // A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner...
Insured Losses for Australia’s October 2021 Storms Estimated at A$972M: PERILS
Oct 31 2022 // Insured losses for the severe storms, which hit Southern Australia on Oct. 28-30, 2021, are estimated at A$972 million (US$623.1 million), according to PERILS, the independent Zurich-based organization that provides...
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Oct 31 2022 // Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 – but core earnings were up during what the company’s CEO described as a strong stretch. Third quarter...
Universal P&C Posts $72 Million Loss, But Says it’s Well-Covered with Reinsurance
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Oct 28 2022 // Third-quarter net income at broker WTW was $192 million compared to $907 million during the prior-year third quarter. Net income for the third quarter 2021 included the $1 billion income receipt that was received as a...
Brown & Brown’s Q3 Earnings Fail to Meet Analysts’ Expectations
Oct 28 2022 // Brown & Brown Inc. (BRO on the NYSE) on Monday reported third-quarter net income of $161.1 million. The Daytona Beach-based company, one of the largest insurance brokerages in the country, said it had a profit of 57...
Swiss Re Posts Q3 Loss on Hit From Hurricane Ian, Signals Price Hikes
Oct 28 2022 // Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5...
Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
Oct 27 2022 // US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
DOJ Antitrust Losses in Court Are Seen as Setback for Biden’s Merger Crackdown
Oct 26 2022 // In the span of just a month, federal judges rejected the US Justice Department’s attempts to block three mergers in the health technology, agriculture and defense contracting industries. The agency is considering...
Update: Ping An Profit Falls 6.3% on Market Turmoil, Weaker Sales
Oct 26 2022 // Ping An Insurance (Group) Co., China’s second-largest insurer by market value, posted a 31.5% drop in third-quarter profit as a stock-market slump hurt investment returns and an economic slowdown hampered sales. Net...
Chubb’s Q3 Numbers: Net Income Falls on Realized Losses; P/C Profits Up 15%
Oct 26 2022 // In spite of incurring nearly $1 billion in pre-tax net losses from Hurricane Ian, Chubb reported a combined ratio of 93.1 for the third quarter of 2022, representing $710 million in underwriting income. Property/casualty...
All The Latest Insurance Company Estimates: Hurricane Ian Losses
Oct 21 2022 // Just a few days into earnings season for the third quarter, a number of carriers have published loss estimates for insurance claims from Hurricane Ian, or prewarned investors about loss figures that will dent their bottom...
Global Natural Disasters Cost Insurers $99B in Q3, With Economic Losses of $227B: Aon
Oct 21 2022 // Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion – of which $99 billion was covered by public and private insurers, which means that insured losses...
The Hanover: $28M Loss From Ian as Overall Cat Losses Exceed Assumption
Oct 20 2022 // The Hanover Insurance Group on Oct. 20 released an estimate of third-quarter overall catastrophe and Hurricane Ian-related losses. Q3 catastrophe losses are expected to be about $90 million, pre tax. Estimated losses from...
Report: Hurricane Ian Farm Loss Could Reach $1.56 Billion
Oct 20 2022 // Agriculture losses in Florida from Hurricane Ian’s high winds and drenching rains could reach $1.56 billion, with citrus, cattle, vegetable and melon operations among the hardest hit, the University of Florida...
Allstate Expects Q3 Net Loss Up to $725M; Ian Caused $366M Net Loss
Oct 19 2022 // Allstate Corp said it expects to report a third quarter net loss of of between $675 million and $725 million with pre-tax catastrophe losses, net of reinsurance, of $763 million. Catastrophe losses net of reinsurance for...
Travelers Q3 Net Income Falls 31%
Oct 19 2022 // Third quarter net income at Travelers Companies dropped 31%, compared with the same period a year ago, to $454 million. The P/C insurer said net income fell due to lower core income – $526 million compared with $655...
Arch Capital Estimates Q3 Catastrophe Losses Could Hit $560 Million
Oct 19 2022 // Arch Capital Group Ltd., the Bermuda-based re/insurer, reports that its 2022 third quarter results will be negatively affected by claims from global catastrophe events such as Hurricane Ian, U.S. convective storms, Typhoon...
