Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
AXIS Capital’s Losses from Japan’s Typhoon Hagibis Estimated at $90M-$110M
Nov 26 2019 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Japanese Typhoon Hagibis in the range of $90 million to $110 million, net of estimated recoveries from reinsurance and retrocessional covers, and...
Japan’s Largest Insurers Take Another Hit from Typhoon Losses
Nov 19 2019 // A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that...
Bahamas Suffered $3.4B in Losses, 67 Deaths from Dorian; Hundreds Still Missing
Nov 19 2019 // Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released last week. The report by the Inter-American...
Florida Expands Access to Insurtech Services and Devices
Nov 18 2019 // On June 28, 2019, Florida Governor Ron DeSantis signed House Bill 301 into law and, in doing so, loosened regulatory restrictions and allowed insurers and their agents to utilize innovative technologies to reduce perils to...
Senior Living Market Explodes During Challenging Times
Nov 18 2019 // The senior population continues growing at a time when the insurance market for senior living operations is under strain and both trends are expected to continue. The population of Americans over age 80 will double, from 6...
Typhoon Hagibis to Cost Japan’s Economy $10B, with Insured Losses in Billions: Aon
Nov 8 2019 // Typhoon Hagibis is likely to become one of 2019’s costliest events, with economic costs of more than US$10 billion and insured losses minimally in the billions, according to Aon’s monthly catastrophe...
Investors React Positively to Argo CEO’s Exit, Despite Q3 Net Loss
Nov 8 2019 // The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov....
Are Employees Pushing Insurers to Shun Coal in Climate Change Movement?
Nov 7 2019 // Seventeen insurers have restricted insurance services to coal projects in the past two years. A dozen insurers have adopted policies to stop all direct insurance coverage to new coal projects – among them are Allianz,...
Vermont Farm Loses 2K Chicken and Turkeys in Flooding, Estimates $60K Loss
Nov 7 2019 // A Vermont farmer says he lost more than 2,000 chickens and turkeys when last week’s flood waters inundated their Richmond farm. Bruce Hennessey, of Maple Wind Farm, says they had moved the animals to higher ground...
Hartford’s Q3 Net Income Rebounds, Rising 21% to $524 Million
Nov 6 2019 // The Hartford’s net income rebounded during the third quarter, rising 21% from Q3 2018 to $524 million, partly due to lower current accident year catastrophes, a lower group disability loss ratio and higher net...
Program Business Revenue Increases 12% to $40.5B in 2018
Nov 5 2019 // Program business premium rose 12.2% in 2018, reaching $40.5 billion from $36 billion in 2016, according to The 2019 State of Program Business Study published by the Target Markets Program Administrators Association...
Berkshire Hathaway’s Q3 Profit Tops Expectations
Nov 4 2019 // Berkshire Hathaway Inc. said its quarterly operating profit rose more than analysts expected, as growth in several business lines offset the drag from trade tensions and tariffs and billionaire Warren Buffett’s...
AIG’s P/C Underwriting Results for Q3 Hit by Catastrophes But Not as Badly as Year Ago
Nov 1 2019 // Catastrophe losses prevented American International Group from having a third quarter in a row of property/casualty underwriting profit this year, following many years of losses. AIG said that its General Insurance unit...
Insured Losses from Typhoon Hagibis Estimated at $7B-$11B: RMS
Nov 1 2019 // Insured losses stemming from Typhoon Hagibis in Japan are estimated to range between US$$7 billion and $11 billion, according to Newark, Calif.-based catastrophe modeling firm RMS. While last month’s Typhoon Faxai...
Report: Cannabis Dispensaries May Become ‘Most Profitable’ Specialty Stores
Oct 31 2019 // Selling insurance to cannabis dispensaries may the business in which to be in the very near future. A new report claims that cannabis retailing could become one of the “most profitable specialty store categories...
Insurance Cost Strategy Key to Lyft’s Path to Profitability
Oct 31 2019 // Ride-hailing company Lyft Inc. on Wednesday said higher-than-expected third-quarter revenues and an improved outlook showed it was well on its way to profitability by the end of 2021. As pressure to become profitable...
PCS Extends Catastrophe Loss Methodology to Australia, N. Zealand, SE Asia
Oct 30 2019 // Property Claims Services (PCS), a Verisk subsidiary, has extended the catastrophe loss aggregation methodology, previously developed for use in Japan, to cover more territories in the region. Starting Jan. 1, 2020, PCS...
Chubb Continued Performing at ‘High Level’ in Q3
Oct 30 2019 // Global insurer Chubb reported a banner 2019 third quarter, even though the company’s net income took a hit largely from losses relating to an accounting adjustment. Net income for the insurer reached $1 billion...
Cyber Attack on Asia-Pacific Ports Could Cost $110B, Hitting Global Supply Chains
Oct 30 2019 // A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from...
Typhoon Hagibis Likely to Cause Earnings Event for Japan’s Insurers: Fitch
Oct 29 2019 // Typhoon Hagibis is likely to be an earnings event for Japan’s three main non-life insurance groups, MS&AD Insurance Groups Holdings, Sompo Japan Nipponkoa Insurance and Tokio Marine & Nichido Fire Insurance...
