Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
A.M. Best: Insurer Losses from Hurricane Michael Will Be ‘Significant’
Oct 12 2018 // Insurers, reinsurers and ILS investors could face significant losses from Hurricane Michael, a major Category 4 storm that began its assault on the Florida Panhandle Wednesday, according to a briefing from A.M. Best. Best...
London Market Insurers’ Profits Remain Under Pressure with Excess Capacity: Fitch
Oct 11 2018 // The profitability of London market and Lloyd’s insurers is expected to remain under pressure in 2018, despite the fact that rates improved slightly following the catastrophe losses in the second quarter of 2017,...
CoreLogic Estimates Hurricane Michael Losses Could Top $4.5B; Top 10 Insurers Affected
Oct 11 2018 // Hurricane Michael’s torrential rain, storm surge, and hurricane-force maximum sustained winds that reached 140 miles per hour Wednesday could result in a historically devastating event for the northeastern Gulf...
Losses to North Carolina Schools from Florence Worse than Hurricane Matthew
Oct 11 2018 // North Carolina’s public school officials expect damage from Hurricane Florence to well exceed school losses after Hurricane Matthew two years ago, a Department of Public Instruction official told the state’s...
Alaska Marijuana Tax Revenue Hits $1.5M in August
Oct 8 2018 // Monthly marijuana tax revenue in Alaska hit $1.5 million in August, another new high. The state says the only time this year that tax revenue was below $1 million was in February. Cultivators pay the tax, imposed when...
Final Insured Loss for Germany’s Cyclone Xavier in 2017 Estimated at €324M: PERILS
Oct 5 2018 // The final insured property market losses for Extratropical Cyclone Xavier, based on loss data collected from affected insurers, is €324 million ($372.5 million), according to estimates issued by PERILS, the independent...
Japanese Typhoons Put Downward Pressure on Creditworthiness of Insurers: S&P
Oct 4 2018 // The recent run of large natural disasters to hit Japan likely has put downward pressure on the creditworthiness of the nation’s three largest non-life insurance groups, according to S&P Global Ratings in a market...
7 Red Flags to Spot Fraudulent Business Interruption Claims
Oct 1 2018 // Insurance is the safety net that protects individuals and companies in case of damage, theft, injury, illness or loss. Fire, floods, earthquakes, tornadoes and freak accidents can quickly decimate a thriving business. When...
Geopolitical Tensions Cause Rise in Political Risk Losses: Willis Towers Watson Report
Oct 1 2018 // Increasing geopolitical concerns are causing a rise in political risk exposures with 55 percent of global organizations with revenues greater than $1 billion experiencing at least one political risk loss exceeding a value...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Oct 1 2018 // Insurance industry losses from Hurricane Florence, which hit the Carolinas mid-September as a Category 1 storm, will be manageable and not have a severe impact on insurers, according to experts. As the storm turned out to...
Commercial Auto: Profitability Issues Remain, but There’s Light at the End of Tunnel
Oct 1 2018 // Despite insurers’ best efforts to increase rates to compensate for losses, commercial auto continues to be an unprofitable line. In less than a decade, despite continued increases in premiums, two major carriers have...
Australia’s Financial Institutions Put Profit over Customers, Mis-Sold Insurance: Inquiry
Sep 28 2018 // Australia’s big banks and wealth managers pursued profit ahead of their customers’ interests and saw regulatory compliance as a cost rather than a guide to proper conduct, a scathing interim report from a...
Insured Losses from China’s Typhoon Mangkhut Estimated at US$1B-US$2B: AIR
Sep 26 2018 // Industry insured losses from Typhoon Mangkhut in mainland China, Hong Kong, and Macau will be between US$1 billion and US$2 billion, according to catastrophe risk modeling firm AIR Worldwide. After making landfall in the...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Sep 25 2018 // This enhanced satellite image made available by NOAA shows Hurricane Florence off the eastern coast of the United States on Wednesday, Sept. 12, 2018 at 5:52 p.m. EDT. (NOAA via AP) Insurance industry losses from Hurricane...
Geopolitical Tensions Cause Rise in Political Risk Losses: Willis Towers Watson Report
Sep 24 2018 // Increasing geopolitical concerns are causing a rise in political risk exposures with 55 percent of global organizations with revenues greater than $1 billion experiencing at least one political risk loss exceeding a value...
Gas Company Will Cover Losses from Deadly Massachusetts Explosions
Sep 24 2018 // Authorities say Columbia Gas has agreed to compensate its customers for all losses related to a series of gas explosions and fires in Massachusetts’ Merrimack Valley. Town officials in Andover announced Saturday that...
$1.5M Yacht Likely a Total Loss After Connecticut Barge Strike
Sep 21 2018 // Maritime officials say a 50-foot, custom-built yacht worth $1.5 million is likely a total loss after it was struck by a barge laden with sand and gravel in a Connecticut harbor. Capt. Eric Knott, Stamford’s...
Allstate Reports $186 Million in Hail, Other Catastrophe Losses in August
Sep 21 2018 // The Allstate Corporation said estimated catastrophe losses for the month of August were $186 million, pre-tax ($147 million after-tax). Catastrophe losses occurring in August comprised 16 events at an estimated cost of...
Lloyd’s Returns to Pre-Tax Profits, Reporting £600M ($793.1M) During 1st Half
Sep 21 2018 // Lloyd’s reported a return to profits during the first half, in a welcome recovery after its big losses of 2017. Pre-tax profits during the half were £600 million ($793.1 million), compared to £1.2 billion ($1.6...
Willis Towers Watson Launches Property Loss Modeling Platform
Sep 20 2018 // Willis Towers Watson has launched a new technology platform to help organizations analyze potential property losses across a global portfolio with the aim of optimizing risk transfer and insurance strategies. The new...
