Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Damage Cost from Texas Spring Hail Storms at Nearly $700M: CoreLogic
Jul 25 2016 // According to new data released by CoreLogic, the 2016 hail season is already one of the most severe in Texas history, with year-to-date results reaching the nine-year average for U.S. hail storm damage. Estimated losses...
Treasury Adopts 2 Percent Formula for Defining Auto Insurance ‘Affordability’
Jul 25 2016 // Industry Says Affordability Definition Will Lead to Confusion on Price If the average auto insurance liability premium paid by consumers in minority and low-income neighborhoods is more than 2 percent of the median income...
South Carolina Workers’ Comp Loss Costs Going Up, New Filing Requirements Take Effect
Jul 25 2016 // New requirements regarding the implementation of changes in workers’ compensation loss costs have been passed by the South Carolina Legislature, and the insurance department is reminding insurers to ensure they...
Cincinnati Insurance Estimates $160M-$170M in Q2 Storm Losses
Jul 25 2016 // The Cincinnati Insurance Companies’ property/casualty group expects second-quarter catastrophe losses of roughly $160 million to $170 million. That loss amount represents an impact on the second-quarter 2016 combined...
Travelers Hit Hard with Catastrophe Losses in Q2
Jul 21 2016 // The Travelers Companies reported an 18 percent drop in net profit for the second quarter largely due to a 50 percent rise in losses from catastrophes. Catastrophe losses of $333 million, up from $221 million for the same...
New York Workers’ Compensation Loss Costs Going Up Oct. 1
Jul 21 2016 // New York has approved a 9.3 percent average hike in workers’ compensation loss costs. The new benchmarks will go into effect Oct. 1. New York businesses, while not pleased, see the hike as necessary in order to keep...
Global Insured Losses Hit $30B in 1H 2016, 30% of Economic Losses: Aon Benfield
Jul 21 2016 // Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact Forecasting, Aon...
South Carolina Workers’ Comp Loss Costs Going Up, New Filing Requirements Take Effect
Jul 21 2016 // New requirements regarding the implementation of changes in workers’ compensation loss costs have been passed by the South Carolina Legislature, and the insurance department is reminding insurers to ensure they...
Cincinnati Financial Corp. Reports $160M-$170M in Q2 Storm Losses
Jul 18 2016 // Cincinnati Financial Corp. reported that the Cincinnati Insurance Companies’ property/casualty group expects its second-quarter results to include pretax catastrophe losses of approximately $160 million to $170...
Workers’ Comp Line Achieves ‘Significant’ Profit in 2015: Fitch
Jul 18 2016 // The U.S. workers’ compensation insurance market achieved a “significant” underwriting profit in 2015, but trends call into question whether such a result can be repeated, Fitch Ratings concluded in a new...
Lloyd’s Insurer Chaucer Expects Underwriting Loss During Q2 2016
Jul 15 2016 // The impact of catastrophes, large loss activity and foreign exchange movements are expected to bring an underwriting loss for Chaucer in the second quarter, when it will report a combined ratio in the range of 103 to 105...
P/C Insurers’ Net Income Fell 26% in Q1
Jul 15 2016 // U.S. property/casualty insurers saw their net income after taxes fall to $13.3 billion in first-quarter 2016 from $18.1 billion in first-quarter 2015—a 26.6 percent decline—and their annualized quarterly yield on...
Industry Balks as Treasury Adopts 2% Formula for Defining Auto Insurance Affordability
Jul 15 2016 // If the average auto insurance liability premium paid by consumers in minority and low-income neighborhoods is more than 2 percent of the median income in those neighborhoods, the auto insurance will be considered...
Heritage Revokes 14.9% Rate Increase Filing for Florida Homeowners
Jul 13 2016 // After review by the Florida Office of Insurance Regulation (OIR) and much criticism from Florida stakeholders, Florida-based Heritage Property & Casualty Company has withdrawn its request for an overall 14.9 percent...
Kemper Estimates Q2 Catastrophe Losses of $52 Million
Jul 13 2016 // Kemper Corp. said that it estimates that its second quarter 2016 results will include pre-tax catastrophe losses of approximately $52 million. The company said it does not expect to recover any of these losses under its...
Storms & Earthquakes Drive Up Insured Losses in 1H 2016: Munich Re
Jul 13 2016 // Economic losses caused by natural catastrophes in the first half of 2016 totaled US$70 billion, a significant increase from the $59 billion reported for the first half of last year, according to a loss review issued by...
Chubb Estimates Q2 Cat Losses to Rise 54% from Q1 2016
Jul 13 2016 // Property and casualty insurer Chubb Ltd. estimated natural catastrophe losses for the second quarter to be about 54 percent higher than the first quarter, indicating another quarter of high losses due to natural disasters...
CoreLogic Pegs Total Damage from Texas Spring Hail Storms at Nearly $700M
Jul 12 2016 // According to new data released by CoreLogic, the 2016 hail season is already one of the most severe in Texas history, with year-to-date results reaching the nine-year average for U.S. hail storm damage. Estimated losses...
P/C Insurance Results for Q1 Hurt by High Catastrophe Losses, Low Investment Income
Jul 8 2016 // Driven by the highest level of first-quarter catastrophe losses since 2011, the underwriting results of the U.S. property/casualty (P/C) industry in the first quarter of 2016 deteriorated from the prior year. The industry...
Emerging Markets’ Claims Expected to Hit Coface’s 2016 Profit
Jul 5 2016 // Coface SA, a French export-credit insurer, warned Monday that higher-than-expected claims by companies trading with emerging markets may cut its 2016 annual profit. The Paris-based company also cited longer collection...
