Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions
Mar 4 2020 // Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The...
Agency M&As: Private Equity Still in Driver’s Seat; Digital Agencies Attract Attention
Mar 2 2020 // The private equity bandwagon continued to roll through the insurance agency and brokerage mergers and acquisitions territory in 2019. As many as two-thirds of all deals involved private equity, according to experts. Most...
USDA’s Wildfire Indemnity Program Offers Possible Drought Assistance for California Farmers
Feb 28 2020 // U.S. Secretary of Agriculture Sonny Perdue announced additional disaster assistance available to agricultural producers, including producers impacted by drought and excess moisture as well as sugar beet growers. California...
Q4 Earnings Briefs: State Auto, National General, Donegal, Safety, Protective
Feb 28 2020 // State Auto Financial State Auto Financial Corp. (STFC) reported fourth-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier. The Columbus, Ohio-based company said it had net income...
Insurance Coverage for Losses Stemming from the Coronavirus
Feb 26 2020 // The coronavirus has not only sickened tens of thousands of people, killed several hundred, and disrupted life for millions, but has also sharply impacted the second-largest economy in the world. Many Chinese companies have...
Florida Carriers Seek Staggering Rate Increases Amid Market Turmoil
Feb 25 2020 // It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. What may...
Berkshire Hathaway P/C Insurance Profit Down in 2019
Feb 24 2020 // Full-year insurance results at Berkshire Hathaway disappointed in 2019, with after-tax earnings from underwriting falling to $325 million in 2019 compared to $1.6 billion in 2018. Earnings from primary insurance operations...
Financial Services Firms Risk $1 Trillion in Losses from Climate Change: Report
Feb 24 2020 // The world’s financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new report shows. The...
Agency Employee Satisfaction Falls Despite Pay Raise
Feb 24 2020 // Insurance agency personnel on average made a little more money in 2019 but they were not as happy as they were in 2018. Nearly all personnel — owners, producers and support staff — enjoyed a slight uptick in...
Amerisafe in Louisiana Reports 4Q Earnings of $34M
Feb 21 2020 // Amerisafe Inc. on Wednesday reported fourth-quarter earnings of $34 million. The Deridder, Louisiana-based company said it had profit of $1.76 per share. Earnings, adjusted for investment gains, were $1.70 per share. The...
State Auto Financial in Ohio Reports 4Q Net Income of $32.7M
Feb 21 2020 // State Auto Financial Corp. reported fourth-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier. The Columbus, Ohio-based company said it had net income of 72 cents per share....
Swiss Re Will Absorb Poor 2019 Earnings, Says S&P
Feb 21 2020 // S&P Global Ratings said that even though Swiss Re performed materially below expectation for its 2019 earnings, the ratings agency expects the group to maintain its risk-based capital above the “AA” level,...
UK Insurers Could See Underwriting Losses After Storms Ciara, Dennis: Fitch
Feb 21 2020 // Losses from storms Ciara and Dennis, which brought strong winds, torrential rain and widespread flooding to the UK, will increase pressure on UK household insurers’ profits in 2020, said Fitch Ratings. While the...
Allianz Raises 2020 Profit Target After 9.5% Jump in Q4 Results
Feb 21 2020 // German insurance group Allianz announced a more ambitious profit target for this year after posting a better than expected 9.5% jump in fourth-quarter net profit on Friday. The profit increase was largely driven by an...
PG&E Banking on Big Profits After Utility Leaves Bankruptcy
Feb 20 2020 // Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated...
Swiss Re 2019 Profit Hit by Natural Disasters, U.S. Casualty Claims
Feb 20 2020 // Reinsurer Swiss Re reported on Thursday a smaller-than-expected profit in 2019 due to claims for a series of man-made and natural disasters, as well as expenses for its U.S. casualty business, sending its shares lower. Net...
AXA Lowers 2020 Profit Guidance for XL Unit
Feb 20 2020 // French insurer AXA lowered its 2020 profit guidance for its companies-focused XL unit and named a new boss for the division, as it stepped up measures to reduce exposure to risks stemming from natural disasters that become...
United Fire in Iowa Reports 4Q Earnings Loss
Feb 19 2020 // United Fire Group Inc. on Tuesday reported a loss of $23.2 million in its fourth quarter. On a per-share basis, the Cedar Rapids, Iowa-based company said it had a loss of 93 cents. Losses, adjusted for investment gains,...
4Q Earnings Briefs: Trupanion, United Fire, FNF
Feb 19 2020 // Trupanion Trupanion Inc. (TRUP) reported fourth-quarter net income of $636,000, after reporting a loss in the same period a year earlier. The Seattle-based company said it had profit of 2 cents per share. The results...
RLI to Offer Samsara IoT Loss Control Services to Trucking, Commercial Auto Clients
Feb 19 2020 // RLI Transportation, a division of RLI Insurance Company, has partnered with Samsara, an industrial IoT company that provides sensors and software to manage vehicle fleets and industrial operations. The partnership will...
