Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Underwriting No Longer Sole Path to Profit, Say Berkley Execs
Sep 9 2022 // While the days of cash flow underwriting are a distant memory for veteran insurance executives, the need for industry’s more recent “preoccupation” with underwriting profit is starting to subside, two...
Lloyd’s Has Strong H1 Underwriting Profit, but Reports Overall Loss on Investment Hit
Sep 9 2022 // While Lloyd’s reported a strong underwriting profit during the first half and its best combined ratio in five years, similar to many insurers, it saw an overall loss as a result of its investments. Underwriting...
U.S. P/C Records $6.3 Billion First-Half Underwriting Loss: AM Best
Sep 6 2022 // Growth in net premiums and a decline in policyholder dividends were eclipsed by losses and expenses to result in a $6.3 billion net underwriting loss for the U.S. property/casualty industry at the half-way mark of...
It’s Over: Lasting Underwriting Profits in U.S. D&O Market Unlikely, Fitch Says
Sep 2 2022 // Three years of soaring directors and officers liability insurance prices pushed combined ratios down to the mid-to-high 90s, but new entrants and potential claims volatility may spell trouble for underwriters in the years...
Hartford Insurance Loses Appeal of Loss of Consortium Claim It Labeled a ‘Ploy’
Aug 31 2022 // Hartford Insurance Group has lost an appeal of a $1.45 million injury settlement between an injured employee and third parties where 60% was for loss of consortium for the wife of the injured worker. Hartford maintained...
Rising Premiums, Low Catastrophe Losses Boost U.S., Bermuda Reinsurers’ H1 Profits
Aug 24 2022 // U.S. and Bermuda reinsurers reported strong operating performance for the first six months of 2022, supported by continued pricing increases in most reinsurance and specialty lines of business as well as tighter terms and...
China’s Ping An Insurance H1 Profit Rises 3.9%
Aug 23 2022 // Ping An Insurance Group Co. of China, China’s largest insurer by market value, reported a 3.9% rise in first half net profit, the first increase over this period in three years, a filing with the Hong Kong stock...
Rising Inflation to Hit Profits of European P/C Insurers: GlobalData
Aug 23 2022 // Rising inflation in Europe, which jumped to 8.9% in July 2022, the highest in 25 years, will hurt the profitability of property/casualty insurers in 2022-24, according to the London-based data and analytics company...
Insured Losses From February’s European Windstorms Estimated at €3.7B: PERILS
Aug 19 2022 // Insured losses for the European windstorm series, which affected the British Isles and continental Europe in February 2022, are estimated at €3.739 billion (US$3.8 billion), according to PERILS, the independent...
Run-off Specialist Premia Completes Loss Portfolio Transfer With Hiscox
Aug 17 2022 // Premia Holdings Ltd., the Bermuda-based run-off specialist, announced that Premia Syndicate 1884 has entered into a loss portfolio transfer agreement with Hiscox Syndicate 33. The portfolio consists of a diverse mix of...
3M Faces $100 Billion in Losses From Veterans’ Earplug Suits, Expert Says
Aug 16 2022 // 3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the...
Dutch Insurer NN Group’s H1 Profit Slips on Impact of Storm Claims
Aug 12 2022 // NN Group’s core profit fell 12.1% year-on-year in the first half of 2022, the Dutch insurer said on Thursday, citing the impact of weather events and the sale of its asset management arm. Operating profit came in at...
Update: Zurich Reports 25% Increase in H1 Operating Profit, Beating Expectations
Aug 11 2022 // Zurich Insurance Group reported a better-than-expected 25% rise in operating profit in the first half on strong performance across the board and announced a bumper 1.8 billion Swiss francs ($1.91 billion) share buyback on...
UK Insurer Aviva Posts 14% Rise in H1 Operating Profit
Aug 11 2022 // Aviva plans to return more cash to shareholders, the British insurer said as it posted a better-than-expected 14% rise in first-half operating profit, sending its shares to the top of the FTSE 100 gainers on...
Lemonade Records Another Q2 Loss, Changes Pace For Profitability
Aug 9 2022 // Insurtech Lemonade said it booked a second quarter net loss of $67.9 million compared with a net loss of $55.6 million during the same quarter last year, but in a letter to shareholders the company said returns will soon...
Florida’s Heritage, UPC Report Losses, Changes for Q2; No Word on UPC Sale
Aug 9 2022 // Two major Florida P&C insurers have announced second-quarter financial results. The news is a mixed bag, and was not unexpected. In an earnings call Monday, executives with publicly traded United Insurance Holdings...
Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
Aug 9 2022 // Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by...
CNA Hardy Online Raises Attachment Points for Excess-of-Loss Cover to £150M
Aug 9 2022 // CNA Hardy, the specialist commercial insurer that writes business within the Lloyd’s and company markets, announced increased flexibility in the attachment points available from its online excess-of-loss platform. By...
AIG Exceeds Profit Estimates on Strong Underwriting Gains
Aug 9 2022 // Insurer American International Group Inc. beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the company’s...
Brazil’s BB Seguridade Posts 86.6% Rise in Q2 Net Profit
Aug 9 2022 // Brazilian insurer BB Seguridade Participacoes SA on Monday increased its full-year outlook, citing higher-than-expected growth in written premiums as it posted an 86.6% rise in net profit in the second quarter. Shares in...
