Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Swiss Re Posts $468M 9-Month Loss, Anticipates Re/Insurance Rate Hikes
Nov 2 2017 // A rise in insurance premiums, especially in areas affected by recent hurricanes and disasters, will help Swiss Re recover from almost half a billion dollars of losses in the first nine months of this year, it said on...
Trump Actions Against Obamacare Could Mean Free Insurance for Many with Low Incomes
Nov 1 2017 // In an odd twist, low-income people in about half of U.S. counties will now be able to get a taxpayer-subsidized “Obamacare” policy for free, according to a new study that suggests some actions by President...
Why Is THAT Excluded?
Nov 1 2017 // Exclusions. Insurance policies are full of them. I’ve been reading some policy forms lately. Some to study, others because they’re interesting to me. It’s kind of a sick hobby, I’ll admit, but...
Berkshire Likely to Report Big Q3 Claims Costs – and Reduced Insurance ‘Float’
Nov 1 2017 // The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They’ve also turned an underwriting profit every...
Aetna Keeps Quiet About Reported CVS Merger Talks; Net Income Rises 39%
Nov 1 2017 // U.S. health insurer Aetna Inc failed to provide any hints on reported merger talks with CVS Health Corp when discussing quarterly results on Tuesday and laid out obstacles to 2018 earnings growth, sending its shares...
Insured Losses from California Wildfires Now at $3.3 Billion
Oct 31 2017 // The largest California insurers have so far reported more than $3.3 billion in insured losses from the October wildfire siege, now considered the most destructive fires in state history. Insurance Commissioner Dave Jones...
New York’s Lawley Hires Overhoff as Loss Control Manager
Oct 30 2017 // Lawley, a Buffalo, N.Y.-based, independent insurance broker, has hired loss control veteran Bob Overhoff Jr. as loss control manager. Previously the director of corporate safety at LPCiminelli, Overhoff Jr. will work out...
Aon Reports 6% Increase in Q3 Revenues to $2.2B
Oct 30 2017 // Aon reported third quarter revenue of $2.3 billion, an increase of 6 percent from the $2.2 billion reported for the same period last year. This increase was driven primarily by a 3 percent increase related to acquisitions,...
Insured Loss Estimates from California Wildfires Now up to $8 Billion
Oct 27 2017 // Insured losses from the siege of California wildfires could possibly reach $8 billion, according to new estimates released on Friday by catastrophe modeler RMS. The firm now estimates the insured loss for the wildfires...
Chubb Reports Q3 Loss Due to Catastrophes; CEO Greenberg Sees Prices Firming
Oct 27 2017 // Chubb, like other property/casualty insurers and reinsurers, faced significant catastrophe losses from hurricanes and earthquakes that struck in August and September. The insurer reported a net loss of $70 million for the...
Loss Estimate for October 2016 Italian Quakes Rises to US$244.4M: PERILS
Oct 27 2017 // The property insurance market’s losses from the series of earthquakes to hit Central Italy between Oct. 26 and Oct. 30, 2016 has risen to €208 million (US$244.4 million), according to PERILS, the independent...
Marsh & McLennan Total Revenues Up 7% in Q3
Oct 26 2017 // Global insurance and risk services firm Marsh & McLennan Companies reported financial results for the third quarter that include $3.3 billion in consolidated revenue, an increase of seven percent over third quarter...
Munich Re Expects Q3 Loss After Hurricane Claims of $3.2B
Oct 26 2017 // Munich Re expects claims of €2.7 billion ($3.2 billion) from Hurricanes Harvey, Irma and Maria, which will lead to a third quarter loss of €1.4 billion. The group said it expects a small profit for the full year, as...
Doesn’t Special Form Mean Everything has Special Coverage?
Oct 25 2017 // Over the last several weeks, I’ve been looking at several policy forms because of different writing and teaching assignments. I’ve been looking especially at property forms. One way that property insurance has...
XL Group Q3 Reports Losses in Excess of $1B on Hurricanes Harvey, Irma, Maria
Oct 25 2017 // XL Group reported losses exceeding $1 billion for the 2017 third quarter, blaming Hurricanes Harvey, Irma and Maria for the results. The net loss of $1.04 billion for Q3 amounted to negative-$4.06 per fully diluted share,...
California’s Wine Industry Taking Stock of Losses After Wildfires
Oct 23 2017 // Although still burning, the largest fires that have devastated California wine country are mostly contained, and winemakers, winery owners, and growers began taking stock this week of what they have—and...
CoreLogic: Hurricane Nate Property Damage Could Top $1B
Oct 23 2017 // Hurricane Nate preliminary loss estimates are estimated to be between $650 million and $1.35 billion, according to CoreLogic. The loss estimates were calculated based on data analysis, total insured and uninsured loss for...
Swiss Re Adds Management Liability Coverage for Non-Profits, Private Companies
Oct 20 2017 // Swiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability policy designed for non-profit and private companies. SwissGuard insures...
Early Data Shows Insured Losses from California Wildfires Already at $1B and Growing
Oct 19 2017 // Insurance Commissioner Dave Jones today released preliminary data provided by eight California insurers processing claims for tens of thousands of policyholders that shows $1.045 billion in losses to commercial and...
Travelers Insurance Reports Solid Q3 Results Despite $700M Cat Losses
Oct 19 2017 // The Travelers Companies today reported $293 million in net income for the third quarter despite absorbing more than $700 million in catastrophe claims. The $293 million in net income was a 59 percent decline from the $716...
