Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Reinsurers’ Capital Likely to Remain Strong Despite Hurricane Matthew: S&P
Oct 7 2016 // While Hurricane Matthew has the potential to erode some of the global reinsurance sector’s excess capital, its overall capital position is not expected to deteriorate below the ‘AAA’ level, according to a...
Could Hurricane Matthew’s Insured Losses Surpass Sandy’s?
Oct 7 2016 // A hurricane threatening the first direct hit on the United States in more than a decade could cause insurance losses of $25-30 billion and be the second costliest U.S. hurricane on record for insurers, according to initial...
Hurricane Matthew Heads to Florida; Losses Could Reach $15 Billion
Oct 6 2016 // Hurricane Matthew has thousands fleeing the U.S. Southeast where it’s expected to batter the coastline and threaten electricity supplies to more than 1 million people in Florida. Potential losses are seen as high as...
P/C Insurers Report $1.5B Net Underwriting Loss in First Half of 2016
Oct 5 2016 // Private U.S. property/casualty insurers reported a $1.5 billion net underwriting loss in the first half of 2016— the first year-to-date net underwriting loss in more than three years— and saw their net income after...
British Financial Industry Tallies Lost Jobs, Revenue from ‘Hard Brexit’
Oct 5 2016 // Britain’s financial industry could lose up to 38 billion pounds ($48.34 billion) in revenue in a so-called ‘hard Brexit’ that would leave it with restricted access to the European Union’s single...
North Carolina Insurers Want Supreme Court Review of 25% Home Insurance Rate Hike Denial
Oct 4 2016 // The homeowners insurance rate increase disagreement between the North Carolina Department of Insurance (NCDOI) and the insurance industry is not over. The North Carolina Rate Bureau (NCRB), which files rates with NCDOI on...
Berkshire’s Applied Underwriters Defends Workers’ Comp Products, Says Brokers Should Not Be at Risk
Oct 3 2016 // Legal and regulatory squabbles in New York, California and other states involving Berkshire Hathaway and its Applied Underwriter affiliates over particular workers’ compensation products should not have any negative...
Texas Insured Property Losses Setting Record in 2016
Sep 29 2016 // Damaging hail storms and wide-spread flooding have caused record setting losses for both homes and automobiles this year in Texas, according to a state insurance trade group. This year’s insured losses for the first...
Typhoon Meranti Insured Losses in China Could Top $1 Billion: AIR Worldwide
Sep 29 2016 // Insured losses on mainland China from September’s Typhoon Meranti are expected to fall between $650 million (CNY 4.3 billion) and $1.15 billion (CNY 7.7 billion). According to catastrophe modeling firm AIR Worldwide,...
Could Trouble with Comp Products from Berkshire Affiliates Land in Brokers’ Laps?
Sep 26 2016 // Insurance brokers who sold allegedly illegal workers’ compensation products from Berkshire Hathaway affiliates involved in legal and regulatory troubles in New York and California could end up being strapped with...
New York Businesses Advised to Check Insurance in Wake of Chelsea Terrorism Bombing
Sep 20 2016 // New York Governor Andrew Cuomo has identified the incident where a bomb went off from inside a dumpster in New York’s Chelsea neighborhood, injuring 29 people, as an act of terrorism. “I said yesterday I...
P/C Insurers’ Underwriting Loss Worsened in First Half
Sep 19 2016 // Catastrophes, lower favorable loss reserve development and challenging market conditions continued to pressure U.S. property/casualty insurers through the first half of the year, leading to an underwriting loss of...
Weak Profits Leading to Takeovers of Smaller Reinsurers
Sep 19 2016 // Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating mergers and acquisition activity as healthier firms seek growth and efficiency savings, according to Fitch...
Kentucky Workers’ Comp Loss Costs to Decrease by 5 Percent
Sep 19 2016 // The Kentucky Department of Insurance has approved the annual workers’ compensation rate filing from the National Council on Compensation Insurance Inc. (NCCI) with a rate decrease of five percent on average. It is...
Future Workers’ Compensation Profitability Faces Obstacles
Sep 19 2016 // Workers’ compensation, the largest product segment in the U.S. commercial lines insurance sector, has experienced a recent profit renaissance, moving to a significant underwriting profit in 2015. However, long-term...
Big Reinsurers Pin Profit Hopes on Tailoring Coverages to Specific Risks
Sep 14 2016 // In a world of increasing automation and standardization, Europe’s big reinsurers are betting that a more personal touch can reverse years of falling prices. Companies including Munich Re AG and Swiss Re AG are...
Cat-Insurance Data Provider PERILS Expands Into Australia
Sep 13 2016 // PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has extended its market coverage to include Australia. PERILS now provides market-wide property sums insured that are exposed...
Fitch Sees Weak Profits Leading to Takeovers of Smaller Reinsurers
Sep 13 2016 // Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating mergers and acquisition activity as healthier firms seek growth and efficiency savings, according to Fitch...
Casualty Losses and Cyber, Crop, Property Demand Driving Reinsurance Growth: Aon
Sep 12 2016 // Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property/casualty insurance industry registering a small rise for the first time in several years, and the trend expected...
Oklahoma Workers’ Comp Loss Costs Fall 10.2%
Sep 9 2016 // The annual filing most insurance carriers will use to develop rates for workers’ compensation insurance shows a decrease for the fourth year in a row in Oklahoma, according to the state insurance department. The...
