Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Zurich Estimates Claims of US$700M from Hurricanes Harvey, Irma & Maria
Oct 19 2017 // Zurich Insurance Group estimates that Hurricanes Harvey, Irma and Maria will aggregate claims in the third quarter of approximately US$700 million, net of reinsurance and before tax. After tax, the losses are expected to...
Arkansas Gov. Opposed to Tapping General Revenue for Road Improvements
Oct 18 2017 // Arkansas’ governor says he’ll “vigorously oppose” any highway funding ballot initiative that calls for tapping into general revenue for road needs. Gov. Asa Hutchinson told reporters he opposes any...
Does a CPP Cover Trees Knocked Over by a Hurricane?
Oct 18 2017 // Last week we entered into a discussion of downed trees, in particular, trees downed by a hurricane. We spent our time dealing with the HO-3 policy and how it responds. If you didn’t catch that, take a look at last...
Argo and Aspen Issue Loss Estimates for Q3 Natural Catastrophes
Oct 18 2017 // Argo Group International Holdings Ltd. and Aspen Insurance Holdings Ltd. have issued their third quarter catastrophe loss estimates, primarily related to Hurricanes Harvey, Irma and Maria as well as the earthquakes in...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Oct 18 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed so far, according to Georgia Insurance Commissioner Ralph...
California Wildfires Threaten Significant Losses for P/C Insurers, Moody’s Says
Oct 16 2017 // Moody’s released a report on Monday assessing the impact of the wildfires in California on property/casualty insurers. “Based on history and the number of structures damaged, insured losses will run into the...
S&P No Longer Expects Global Re Rate Drops at Jan. 1
Oct 16 2017 // A trio of third-quarter hurricanes and continued catastrophe losses impacting insurers and reinsurers will have a greater impact on reinsurers—and may potentially fuel reinsurance rate hikes at the Jan. 1, 2018 renewal...
Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch
Oct 16 2017 // Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers’ loss-affected lines and could also affect wider market pricing trends, according to Fitch...
How Warming Seas Could Cost South Carolina $12 Billion
Oct 16 2017 // If oceans warm at a rate predicted by the Intergovernmental Panel on Climate Change, the United Nation-sponsored group that assesses climate change research and issues periodic reports, expected financial losses caused by...
Cincinnati Financial Corp. Says Q3 Cat Losses Could Rise to $114M
Oct 13 2017 // Cincinnati Financial Corp. has announced that the Cincinnati Insurance Companies’ property/casualty group expects its third-quarter results to include pretax catastrophe losses of approximately $102 million to $114...
More Re/Insurers Issue Their Q3 Natural Catastrophe Loss Estimates
Oct 13 2017 // The third quarter natural catastrophe loss estimates continue to rise, as more insurers and reinsurers weigh in with their loss totals from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. The latest...
How Insurers, Employers Can Help Close Income Gap in U.S.: Zurich Insurance Research
Oct 13 2017 // Public/private partnerships between governments, companies and insurers can help ease income gaps that burden millions of Americans, according to new research from Zurich Insurance Group and the University of...
Lloyd’s Outlook Is Negative on Hurricane Losses; Ratings Affirmed: S&P
Oct 13 2017 // S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit...
Losses from California Wildfires Could Reach up to $6 Billion, Experts Say
Oct 12 2017 // This story has been updated with the latest estimates on fire losses. The wildfires raging in California are shaping up to become an infamous if not historic event. The fires have destroyed 3,500 structures and counting,...
XL Group Estimates $1.48B in Q3 Natural Catastrophe Losses
Oct 12 2017 // XL Group Ltd. announced its preliminary estimate of net losses of approximately $1.48 billion from third quarter natural catastrophes. Included within that figure is $1.33 billion in losses relating to Hurricanes Harvey,...
KCC Estimates U.S. Insured Losses from Hurricane Nate Could Reach $500M
Oct 10 2017 // Based on high resolution wind and storm surge models, Karen Clark & Company (KCC) has estimated that the insured loss in the U.S. from Hurricane Nate will be close to $500 million. KCC’s modeled loss estimates...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
Partner Re, RenRe & Third Point Re Estimate Q3 Natural Catastrophe Losses
Oct 6 2017 // Three more reinsurers released their initial loss estimates from third quarter natural catastrophes, which include Hurricanes Harvey, Irma and Maria and the Mexico City earthquake. PartnerRe Ltd. estimates combined...
Future Reports to Include Both Private, Public Flood Insurance Loss Estimates
Oct 6 2017 // Beginning with Hurricane Harvey, the private sector Property Claim Services will publish aggregate flood loss information supplied by the federal government’s National Flood Insurance Program (NFIP). Historically,...
Hurricane Cars Declared ‘Total Losses’ by Adjusters Are Now Back on Roads
Oct 5 2017 // The ink on the “total loss” insurance paperwork, like the 2007 Range Rover itself, was still wet when Morgan Moran began trying to buy his vehicle back after Hurricane Matthew last year. The insurance adjuster...
