Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Farm Bureau: Flooding-Related Ag Losses in Nebraska Nearing $1B
Mar 20 2019 // The Nebraska Farm Bureau president says farm and ranch losses to the devastating flooding could reach $1 billion in the state. President Steve Nelson estimates $400 million on crop losses because of crops that will be...
PERILS Lowers Loss Estimate for December 2018 Sydney Hailstorms to A$633M
Mar 20 2019 // PERILS AG disclosed its second loss estimate of A$633 million (US$449.2 million) for the hailstorms which affected the greater Sydney region on Dec. 20, 2018. The estimate also includes the losses from the storm activity...
Houston-Area Chemical Blaze Intensifies After Loss of Water Pressure
Mar 19 2019 // A fire at a petrochemical storage facility that’s covered Houston in a thick pall of smoke for the past two days intensified overnight after firefighters briefly lost water pressure. Two additional storage tanks are...
Insured Property Loss for Northern Australia Floods Estimated at A$957M: PERILS
Mar 18 2019 // Initial insured property losses for floods that recently affected northern Queensland, Australia, and in particular the city of Townsville, are estimated at A$957 million, according to PERILS, the independent Zurich-based...
Alabama Tornadoes Caused Nearly $6M in Timber Losses
Mar 18 2019 // The Alabama Forestry Commission estimates timber losses caused by deadly tornadoes on March 3 at nearly $5.9 million. That’s almost $1,000 per acre of timberland damaged by two or three tornadoes in Macon, Lee and...
How Workers’ Comp Brokers Can Increase Commissions by 81%
Mar 18 2019 // Workers’ compensation brokers frequently overlook a risk-free method to nearly double their commissions while improving their client’s overall financial position. The use of a captive insurance company to...
Disabled Workers Paid Less Than Minimum Wage Sue Non-Profit for Wage Theft
Mar 14 2019 // A New Mexico non-profit that’s assembled gift bags for the Oscars and Grammys is facing a class action lawsuit brought by disabled employees who say it pays as little as 18 cents an hour. The suit is the latest to...
Italy’s Generali Beats Targets, Reports 9.4% Rise in Net Profit for 2018
Mar 14 2019 // Italy’s top insurer Assicurazioni Generali raised its dividend for 2018 after beating its business plan targets and posting growth in net and operating profits. In a statement on Thursday, the company said it was...
Industry Awaits Florida Supreme Court Decision on Post-Loss AOB Policy Language
Mar 14 2019 // As Florida lawmakers weigh reform for the state’s assignment of benefits crisis, the insurance industry and regulators are closely monitoring a case addressing post-loss policy language that is currently before the...
Demotech: Expect 2018 Catastrophe Losses to Impact Florida-Based Insurers
Mar 12 2019 // After reviewing the year-end financial statements of the Florida-based carriers it rates, Ohio-based ratings agency Demotech is warning that many insurers could see underwriting and operating losses in their year-end...
College Basketball Star’s Busted Shoe Episode Raises Loss of Value Insurance Question
Mar 4 2019 // Soon after Duke University star freshman Zion Williamson’s shoe ripped apart, Nike’s stock price took a hit. The freak injury during one of the college basketball season’s marquee games immediately...
Nevada OKs Workers’ Comp Loss-Cost and Assigned-Risk Rate Decreases
Mar 1 2019 // Nevada Insurance Commissioner Barbara D. Richardson approved a filing from the National Council on Compensation Insurance for an average decrease of 8.1 percent for Nevada workers’ compensation voluntary insurance...
The $900 Billion Auto Aftermarket: Where Total Losses Turn Into Big Gains
Mar 1 2019 // Mike Rosser, a 41-year veteran of the salvage car business, remembers a day when auctions for junked cars drew 30 guys standing in the sun, inspecting mangled cars for intact alternators and transmissions. On this February...
Allianz Offers Reputational Protection in UK to Replace Lost Profits in a Crisis
Mar 1 2019 // Allianz Global Corporate & Specialty (AGCS) has launched Reputation Protect Plus in the UK to help companies protect their reputations – their most valuable assets – in times of crisis. Providing “tangible...
Liberty Mutual Boosted Q4, 2018 Profit Helped by Lower Catastrophe Losses
Feb 28 2019 // Liberty Mutual Holding Co. and its subsidiaries reported net income of $249 million for the fourth quarter 2018 and $2.160 billion for the full year 2018, increases of $44 million and $2.143 billion over the same periods...
Insurer Group Warns on Property Losses Due to Climate Change
Feb 27 2019 // Insurers are increasingly worried that rising temperatures will lead to a slump in property values that could spark broader financial turmoil. Those were the conclusions a group run out of the University of Cambridge...
A.M. Best Sees $12 Billion P/C Insurance Underwriting Loss for 2018
Feb 27 2019 // The U.S. property/casualty industry is expected to report that 2018 was its third consecutive year with an underwriting loss. A new A.M. Best analysis projects an estimated net underwriting loss of $12.1 billion in 2018,...
QBE Takes Another Step to Reporting Strong Results, Consistently, with 2018 Profit
Feb 27 2019 // QBE Insurance Group took another step in its quest to achieve strong results, consistently, by reporting a cash profit after tax of US$715 million during 2018, a significant improvement on the cash loss of US$262 million...
Berkshire P/C Insurance Reported Q4 Loss, Profit for Full Year 2018
Feb 25 2019 // In the conglomerate’s annual report published on Saturday, Berkshire Hathaway’s Chair Warren Buffett recommended that readers focus on operating earnings, reviewing a year in which insurance operations...
Swiss Re 2018 Net Profit Rises 27% Despite Spate of Natural, Man-Made Disasters
Feb 21 2019 // Reinsurer Swiss Re on Thursday posted a 27.2 percent jump in 2018 net profit, despite claims from large-scale natural catastrophes and man-made disasters. Net profit for the full year came in at $421 million, compared with...
