Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Church Mutual, Church & Casualty Pilot Wildfire Loss Prevention Program in California
Aug 10 2018 // Church Mutual Insurance Company and Church & Casualty Insurance Agency have launched CM Wildfire Solutions, a no-cost, multifaceted program to keep customers and their property safe from the devastation of...
July’s Droughts, Wildfires, Floods Caused Billions in Global Economic Losses: Aon
Aug 10 2018 // Many countries across the globe saw worsening in drought-related and wildfire conditions during July, which have led to hundreds of deaths and created a significant financial impact – particularly in the agriculture,...
Zurich’s H1 Net Income Rises 19%, Getting Boost from P/C Unit
Aug 9 2018 // Zurich Insurance Group AG got a boost from its property & casualty business, putting the company on track to meet Chief Executive Officer Mario Greco’s three-year restructuring goals. The Swiss insurer’s...
Catastrophe Bonds – A to Z
Aug 7 2018 // A reader of this publication, the president of an insurance agency, recently wrote to say he kept hearing about catastrophe bonds but had little knowledge of what they were. He was curious if these instruments would...
New AIR Reinsurance Cat Modeling Software Estimates Insurer Loss Potential
Aug 6 2018 // Catastrophe risk modeling firm AIR Worldwide announced that it has released Touchstone Re, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios,...
Casualty: The Next ILS Frontier?
Aug 6 2018 // Executive Summary: While progress has been made in the development of casualty insurance-linked securities (ILS), there still is significant work to do, says Aaron C. Koch of Milliman, who discusses some of the key...
Berkshire’s Q2 Insurance Profit Rises to $943M Compared to Loss of $22M in Q2 2017
Aug 6 2018 // This year’s looking brighter for Berkshire Hathaway Inc.’s insurance businesses after 2017’s hurricanes led to the first annual underwriting loss in more than a decade. Auto insurer Geico and the...
Allianz Beats Q2 Profit Estimates with Help of PIMCO Bond Fund Unit
Aug 3 2018 // Allianz SE said strong growth across its businesses lifted second-quarter profit as Europe’s largest insurer keeps the market waiting on any acquisitions it will undertake. The gains help keep Allianz on track to...
AIG’s Q2 Profit Drops 17% as General Insurance Fails to Improve
Aug 3 2018 // American International Group Inc on Thursday reported a 17 percent fall in quarterly profit as its general insurance business failed to show improvement, missing analysts’ expectations. AIG shares fell more than 5.5...
Swiss Re Weighs IPO for UK Closed-Book Business; Pricing Pressures Hit Earnings
Aug 3 2018 // Pricing pressure in the reinsurance industry weighed on Swiss Re’s first-half earnings, overshadowing a drop in natural-catastrophe claims. The company said it’s exploring an initial public offering for its...
Carr Fire Losses May Reach $1.5B in Likely Another Destructive Season for California
Aug 2 2018 // California’s Carr wildfire has the potential to yield losses of up to $1.5 billion, according to a Moody’s report issued on Thursday. The fire has ravaged parts of Shasta County in or near Redding in the...
NTSB Says Plane Reported Loss of Power Before Rural Maine Crash
Aug 2 2018 // The National Transportation Safety Board says a twin-engine propeller aircraft reported a loss of power right before a crash that killed three people. A spokesman for the NTSB said the plane, called an Aerostar AEST, was...
Insurer RSA Reports 15% Drop in H1 Operating Profit on Winter Weather Claims
Aug 2 2018 // Icy roads and frozen pipes due to bad weather in Canada and Britain hit insurer RSA’s first-half operating profit on Thursday, though results were in line with analyst forecasts. General insurer RSA, best known in...
AXA Gives Under-Fire CEO Buberl a Needed Boost on Strong H1 Profits
Aug 2 2018 // AXA SA gave under-fire Chief Executive Officer Thomas Buberl a needed boost with first-half earnings that beat estimates and growth in new business. AXA, posting its first results since a disappointing partial spinoff of...
TWIA Board OKs Additional $106.8M Insurer Assessment for Harvey Losses
Aug 1 2018 // The Texas Windstorm Insurance Association (TWIA) board has unanimously approved an additional Class 1 member assessment of $106.8 million for Hurricane Harvey losses, the Insurance Council of Texas (ICT) reported. The...
S&P Probes If Reinsurers Are Ready for Another Year of Active Natural Disasters
Aug 1 2018 // After global insured natural catastrophe losses hit record highs in 2017, will reinsurers be able to withstand another year of active natural catastrophes? S&P Global Ratings indicates that while reinsurers are...
Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources
Jul 31 2018 // Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU,...
Travelers Seeks Review of Court Ruling on Crime Insurance Loss Involving Email Fraud
Jul 31 2018 // Travelers Insurance is seeking a full Sixth Circuit court reconsideration of its three-judge panel ruling that said the insurer’s crime insurance policy’s computer fraud clause covered a loss due to money...
Chubb Partners with DynaRisk to Offer Cyber Loss Mitigation Service in UK, Ireland
Jul 30 2018 // Chubb has partnered with cyber security company DynaRisk to offer a cyber loss mitigation service to Chubb’s Cyber Enterprise Risk Management policyholders in the UK and Ireland. The DynaRisk service assesses a...
Hartford’s Q2 Results Reflect Big Commercial Lines Gain
Jul 27 2018 // The Hartford reported improved results for the second quarter compared to the same quarter last year, particularly in its commercial lines and group benefits businesses. Overall net income was $582 million in second...
