Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Chubb’s Q1 Net Income Dips Slightly but Commercial Insurance Produces Gains
May 2 2019 // Chubb saw its net income dip slightly in the 2019 first quarter, though commercial and other insurance premiums rose at a healthy clip. The insurance giant’s property/casualty combined ratio also improved, and...
Owners Project Stop & Shop Strike Cost Company About $100M in Losses
May 2 2019 // The owners of New England’s largest supermarket chain are projecting around $100 million in losses from the labor strike that ended Easter Sunday. Ahold Delhaize, the Dutch company that owns Stop & Shop, said the...
Losses from Cryptocurrency Thefts, Fraud Surged to $1.2 Billion in Q1: Report
May 1 2019 // Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cyber-security firm CipherTrace...
CNA Financial Reports 17.5% Jump in Q1 Net Income
Apr 30 2019 // CNA Financial Corp. reported first quarter 2019 net income of $342 million, up 17.5 percent over the $291 million reported for the same period in 2018. The company saw a big improvement in its first quarter results over...
Beazley-Led Consortium to Offer Corporate C-Suite Reputational Risk Coverage
Apr 29 2019 // Specialist Lloyd’s insurer Beazley is partnering with other Lloyd’s insurers to offer reputational risk coverage targeted towards C-suite exposures. The Beazley Custodian Consortium at Lloyd’s provides...
PG&E Asks California for Higher Rates to Pay for Wildfire Safety, Profits
Apr 26 2019 // California utility Pacific Gas & Electric Corp. is asking state regulators for another increase in rates and profits, saying it’s needed for wildfire safety and to attract investment as the utility goes through...
SCOR’s Q1 Net Profit Drops 21% on Japan Typhoons in 2018
Apr 26 2019 // French reinsurer SCOR, whose CEO faces a vote on his demotion during a shareholders meeting on Friday, said its net profit in the first quarter fell 21 percent as a result of the impact of 2018 typhoons in Japan. SCOR...
Minnesota AG: For-Profit Health Insurers Could Raid State’s Reserves
Apr 25 2019 // Minnesota Attorney General Keith Ellison has called on lawmakers to reverse a consequence of 2017 law that repealed the state’s ban on for-profit health maintenance organizations, saying for-profit companies could...
W.R. Berkley Q1 Results Show Rate Increases Working
Apr 25 2019 // W.R. Berkley Corp. enjoyed solid premium growth in the 2019 first quarter and its reinsurance arm booked encouraging results, with the carrier crediting “further rate improvement” for the positive trend. The...
Europe’s Storm Dragi-Eberhard Costs Insurers Estimated €740M ($831.8M): PERILS
Apr 22 2019 // The initial insured property losses for extratropical cyclone “Dragi-Eberhard,” which hit the British Isles, and Western and Central Europe on March 9-10, 2019, are estimated at €740 million ($831.8 million),...
Fitch Keeps Stable Outlook for P/C Insurers After Underwriting Profit in 2018
Apr 22 2019 // After two consecutive years of combined ratios above 100, the U.S. property/casualty industry returned to a modest statutory underwriting profit in 2018 as catastrophe losses slowed, premium growth accelerated and several...
Lower Catastrophe Losses Help Boost Q1 Profit for Travelers
Apr 21 2019 // Insurer Travelers Companies Inc.’s quarterly profit beat analysts’ estimates on Thursday, as improved underwriting and lower catastrophe losses offset a decline in net investment income, sending its shares to a...
California State Fund Reports Increase in Net Income in 2018
Apr 15 2019 // California’s State Compensation Insurance Fund reported an increase of net income and written premium in its just-released annual report for 2018. Financial highlights of the 2018 annual report include: Net income of...
Markel Internal Review Finds ‘No Bad Faith’ Related to Loss Reserves Under Investigation
Apr 15 2019 // Markel Corp. said that an internal review conducted by outside counsel found “no evidence that personnel of its CATCo unit acted in bad faith in exercising business judgment in the setting of reserves and making...
Global Floods Cause $8B in Economic Losses During March: Aon Catastrophe Report
Apr 10 2019 // Damage from flooding in March 2019 is estimated at US$8 billion from events across the globe, according to Aon’s “Global Catastrophe Recap – March 2019.” “The major catastrophe events of March...
What to Know About Contingent Business Interruption Insurance
Apr 3 2019 // The steady extension of supply chains over recent decades has exposed businesses to various risks resulting from temporary interruption. These types of interruptions to a supply chain can result in significant losses, even...
Loss-Cost Reduction for Workers’ Comp Insurance Approved in Pennsylvania
Apr 2 2019 // Pennsylvania Insurance Commissioner Jessica Altman has approved a loss-cost filing, including a 12.95% reduction in loss-costs – a component in determining workers’ comp insurance rates paid by businesses. This...
How Disasters, Tax Reform Affected P/C Insurers’ Performance in 2018
Apr 1 2019 // Mainly due to above-average catastrophe losses, the aggregate financial performance of U.S. publicly traded property/casualty insurers deteriorated slightly in 2018, according to a new A.M. Best special report. The...
A Mix of Flood Insurance Reforms
Apr 1 2019 // Conservation, CarFax-Like Disclosure, Means-Test for Rates Up for Discussion The federal flood insurance program has a knack for inspiring ideas from reformers across the political spectrum on how to improve government. If...
Rates, Lower Loss Frequency, Innovation Drove Personal Auto Market Turnaround
Mar 29 2019 // After a weakened performance in 2015-2016, the U.S. private passenger auto segment has turned around as rate actions and underwriting initiatives have driven a 3.8-point year-over-year improvement in the sector’s...
