Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
P/C Insurers Boosted Underwriting Net Income 28% in First Half of Year: AM Best
Aug 23 2021 // The U.S. property/casualty industry grew its net underwriting income by 28% in the first six months of 2021 compared with the same prior-year period. According to a new AM Best report, a 5.4% growth in net earned premiums...
Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS
Aug 23 2021 // RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion...
Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s
Aug 19 2021 // The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a result of lower...
Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.
Aug 17 2021 // The large 7.2 magnitude earthquake, which hit Haiti on Aug. 14, is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC). While the insured losses from this event...
Global Insured Disaster Losses Reach US$42B in H1 as 2nd Highest on Record: Swiss Re
Aug 13 2021 // Estimated insured losses from natural catastrophes reached US$40 billion during the first half – driven by a deep winter freeze, hailstorms and wildfires, while man-made disasters triggered another estimated US$2 billion...
Zurich Insurance Reports Strong Surge in Earnings as COVID-19 Impact Eases
Aug 12 2021 // Zurich Insurance Group’s on Thursday joined other big European insurers in reporting a strong rebound in earnings as the impact from COVID-19 on their businesses eased. Buoyant markets along with higher policy sales...
Munich Re’s Q2 Profit Rises 91%, While COVID-19 Losses Outpace Expectations
Aug 10 2021 // German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously anticipated. Munich Re made...
GEICO Put a Dent in Berkshire Hathaway Results for Q2
Aug 9 2021 // Berkshire Hathaway’s insurance division produced a mixed performance during the 2021 second quarter. Rate increases generally carried the day, though the conglomerate’s GEICO unit dragged down...
Rate Hikes, Investments Help AIG Get Back to Profit in Q2
Aug 6 2021 // American International Group generated a modest profit in the second quarter, citing gains from higher net investment income, far fewer catastrophe losses and strong rate hikes in its property/casualty business. The...
Allianz Posts 46% Jump in Q2 Profit, with Rosy Outlook Expected
Aug 6 2021 // FRANKFURT – German insurer Allianz on Friday posted a better-than-expected 46% jump in second-quarter net profit and provided a rosier outlook for the full year as it emerges from pressure on business caused by the...
McLarens Acquires Canadian Loss Adjusting Firm MGB Claims Consultants
Aug 4 2021 // McLarens, the Atlanta-based independent insurance services provider, announced the acquisition of MGB Claims Consultants Inc., a complex commercial claims adjusting firm in Canada. Financial terms of the transaction were...
Generali’s Operating Profit Increases 10.4% During First Half
Aug 3 2021 // Generali on Tuesday said it was on track to meet full-year targets after Italy’s top insurer reported a good performance across all business sectors to slightly beat first-half expectations. Operating profit rose...
France’s AXA Posts 180% Surge in 1st Half Net Income as XL Unit Swings to Profit
Aug 2 2021 // AXA posted a 180% surge in first-half net income on Monday as the French insurer rebounded from a spike in pandemic-related claims that led to a 1.5 billion euro ($1.8 billion) charge last year. Europe’s...
Update: Allianz Warns Earnings Could Be Hurt by U.S. Investigation into Funds
Aug 2 2021 // Allianz SE warned of a potentially material hit to its earnings after the U.S. Justice Department opened a probe into its Structured Alpha Funds, which are at the center of lawsuits in the wake of steep losses during the...
First Half 2021 Natural Disaster Insured Losses Reach 10-Year High
Aug 2 2021 // Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on July...
Reinsurers Show Strong Profits During 2nd Half, Rebounding from 2020’s Challenges
Jul 30 2021 // The first half financial results, reported by a group of six reinsurers over the past week, generally show a strong return to profits after last year’s challenging market conditions. A wrap-up of these H1 results...
The Hartford Reports Q2 Net Income Up 94%; Boasts ‘Superb’ P/C Results
Jul 29 2021 // The Hartford today announced it earned $900 million in net income in the second quarter of this year, a 94% jump from second quarter 2020. Core earnings of $836 million were up 91% from second quarter 2020. “Our...
P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1
Jul 29 2021 // Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an...
Chubb Is ‘Firing On All Cylinders,’ Says CEO Greenberg After Record Results for Q2
Jul 28 2021 // Chubb released positive second quarter results, driven by gains in its commercial property/casualty business and related rate hikes in the sector. The company called it a “record quarter” with...
Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide
Jul 28 2021 // AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central...
