Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Arch Estimates Q2 Catastrophe Losses Could Hit $225M, Which Include Pandemic Claims
Jul 15 2020 // Arch Capital Group Ltd. has estimated a range of pre-tax catastrophe losses of $205 million to $225 million in the second quarter of 2020 across its property casualty insurance and reinsurance segments. Included in these...
Profit-Driven Automakers Race to Next Level of Not Quite Self-Driving Cars
Jul 15 2020 // Autopilot, ProPilot, CoPilot: Automakers have many names for new systems that allow for hands-free driving, but no safety or performance standards to follow as they roll out the most significant changes to vehicle...
East Coast’s Insured Loss From Tropical Storm Fay to Tally Near $400 Million: KCC
Jul 15 2020 // The insured loss from Tropical Storm Fay will be close to $400 million, according to catastrophe risk modeling firm Karen Clark & Company (KCC). KCC said its estimate includes the privately insured wind and storm surge...
W.R. Berkley Estimates $85 Million in Q2 COVID Catastrophe Losses
Jul 14 2020 // W.R. Berkley Corp. cautioned that its 2020 second quarter pretax catastrophe losses will reach $145 million, with more than half of that coming from COVID-19 related costs. Out of that total, $85 million stems from...
Travelers Expects Q2 Loss From Storms, Civil Unrest, Investments; Modest COVID Impact
Jul 14 2020 // In a preliminary look, The Travelers Companies said it expects to report a net loss for the second quarter, results that will reflect losses from storms, civil unrest and its non-fixed income investment portfolio. It also...
California Workers’ Comp Self-Insured Claims Flat in 2019, But Incurred Losses Rose $35M
Jul 13 2020 // California workers’ compensation private self-insured claim frequency was relatively stable in 2019 as the incidence of medical-only and lost-time claims registered only marginal declines after increasing in 2017 and...
Allianz Restructures AGCS North America Team as Part of New Profit Plan
Jul 13 2020 // As Allianz Global Corporate & Specialty SE (AGCS) executes its plan to regain profitability in the corporate and specialty insurance segment, it is adopting a more simplified regional organization in North America. The...
May 2019 Tornadoes in Missouri Caused Nearly $190M in Insured Losses
Jul 10 2020 // The May 2019 tornadoes that ravaged several parts of Missouri caused significant damage to both residential and commercial properties, and resulted in close to $190 million in insured losses, the state Department of...
Chubb Unveils Public-Private Program for Pandemic Business Interruption
Jul 9 2020 // Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses quickly—following through on an...
Litigation Funding Firm’s Profit Outlook Brightens on Coronavirus Disputes
Jul 9 2020 // Analysts have rapidly lifted their earnings forecasts for a global litigation financier on expectations that the pandemic could spark more legal disputes. Forward consensus earnings estimates for Sydney-listed Omni...
What ‘Follow the Fortunes’ Means for COVID-19 Reinsurance Claims
Jul 8 2020 // How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already...
New Ventures Seize Opportunities as Insurers Cope with Coronavirus Losses
Jul 8 2020 // Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new...
Losses From Civil Protests May Cause Insurers to Rethink Property Coverage
Jul 8 2020 // The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy...
Chubb Estimates $1.4 Billion in Q2 Global Losses Tied to Coronavirus
Jul 7 2020 // Chubb’s disclosure of second quarter 2020 global net catastrophe losses underscores the damage COVID-19 is doing to some carriers’ bottom lines. The global property/casualty insurer estimated $1.8 billion in...
Insured Losses for 2019/2020 Australia Bushfires Estimated at A$1.9B (US$1.3B): PERILS
Jul 7 2020 // The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide...
Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
Allianz Expects to Be Back on Track with Profit Targets as COVID Crisis Subsides: CEO
Jul 2 2020 // Allianz, which is facing headwinds from the coronavirus crisis, expects to be back on track in 2021 barring a second major outbreak or financial market correction, the German insurer’s chief executive said in an...
Fort Worth P/C Insurer, Hallmark Financial, Reports $34M Loss
Jul 1 2020 // Hallmark Financial Services Inc. (HALL) has reported a loss of $34 million in its fourth quarter. The Fort Worth, Texas-based company said it had a loss of $1.87 per share. Losses, adjusted for investment gains, were $2.01...
California Workers’ Comp Bureau Paid $4.6B Medical, $3.8B Indemnity Losses in 2019
Jun 30 2020 // The Workers’ Compensation Insurance Rating Bureau of California has released its report on workers’ comp losses and expenses for 2019. Findings in the WCIRB report, 2019 California Workers’ Compensation...
U.S. Commercial Auto Insurers Report Worst Losses in Decade: AM Best
Jun 30 2020 // The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
