Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Karen Clark & Co. Estimates $350M Insured Loss from Hurricane Hanna
Jul 28 2020 // Catastrophe risk modeling firm, Karen Clark & Company (KCC) has estimated the insured loss from Hurricane Hanna, which made landfall on Padre Island, Texas, on July 26, will be close to $350 million, excluding National...
Global Natural Catastrophe Losses During H1 Ranged from $68B to $75B: Munich Re, Aon
Jul 24 2020 // Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural...
Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural...
Travelers Reports Q2 Loss on Catastrophes, Investments; Only Modest COVID Impact
Jul 23 2020 // The Travelers Companies reported a net loss of $40 million for the quarter ended June 30, 2020, compared to net income of $557 million in the prior year quarter. The insurer said the difference was primarily due to higher...
Swiss Re to Report $1.1 Billion Loss During First Half on Hit from COVID-19
Jul 23 2020 // Reinsurance company Swiss Re said on Wednesday that claims and reserves of $2.5 billion related to COVID-19 will lead to a net first half loss of about $1.1 billion. The company, which reported the loss ahead of its...
QBE Expects H1 2020 Loss of US$750M on COVID-19, Natural Catastrophe Claims
Jul 22 2020 // QBE Insurance Group expects to report a first-half, after-tax loss of around $750 million, mainly due to COVID-19 claims and natural catastrophes, which included Australia’s bushfires and hailstorms at the beginning...
Coronavirus, Civil Riot, Investment Losses Take Bite Out of W.R. Berkley Q2 Profit
Jul 22 2020 // Larger investment losses and COVID-19 took a substantial bite out of W.R. Berkley’s 2019 second-quarter net income, but the specialty insurer and reinsurer still stayed in the black overall. Net income for the...
January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS
Jul 21 2020 // The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that...
Personal Lines Insurance Poised to Turn Profit in 2020 As Auto Claims Fall: Fitch
Jul 20 2020 // After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from...
Shipping Losses at Record Lows, but COVID-19 Impact Could Threaten Safety: Allianz
Jul 16 2020 // Large shipping losses dropped by 20% last year, in a continuation of decade-long trend when losses declined by almost 70%, according to a report published by Allianz Global Corporate & Specialty (AGCS). However, the...
Cincinnati Financial Estimates $231M in Cat Losses for Q2
Jul 15 2020 // Cincinnati Financial Corp. says its consolidated second-quarter results are expected to include pretax catastrophe losses of approximately $231 million – adding 16.5 percentage points to the quarterly combined ratio...
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...
