Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Global Insurance Premiums up 3.8% in 2015, Despite Trade Slowdown: Swiss Re
Jun 29 2016 // Despite a challenging business environment and global trade slowdown in 2015, global direct premiums written grew by 3.8 percent in real terms, up from 3.5 percent in 2014, according to Swiss Re’s latest sigma...
French & German Floods to Hit Insurers’ Earnings but Not Ratings: A.M. Best
Jun 27 2016 // The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early...
Ohio Insurance Agent’s License Revoked after $800K in Client Losses
Jun 22 2016 // Ohio Lieutenant Governor Mary Taylor has revoked the license of insurance agent Brian Willms, of Dublin, for misrepresenting life insurance policies as an investment. The misrepresentations contributed to two clients...
Despite Losses, North Dakota Political Subdivision Insurance Fund Pays Off
Jun 17 2016 // A 30-year-old self-insurance pool has been paying off well for North Dakota political subdivisions, despite large claim losses in 2015. “It’s worked extremely well,” said Steve Spilde, chief executive...
Montana Court Orders Man to Pay Restitution, Even for Insured Loss
Jun 15 2016 // The Montana Supreme Court says a man who was convicted of stealing $26,500 in cash and merchandise from his employer must pay full restitution, even if the store’s losses were mostly covered by insurance. John...
Persistent Soft Market Begins to Hit Reinsurer Stock Prices: A.M. Best
Jun 15 2016 // While global reinsurers are continuing to withstand challenging market conditions, their stock prices, on average, are starting to take a hit as a result of the persistent soft market and its negative effect on top line...
Cher Sues Financial Firm in California for $800k in Losses
Jun 10 2016 // Cher has sued a financial management partnership she claims defrauded her out of more than $800,000 in investments that went belly-up. The suit was filed this weekin Los Angeles County Superior Court on behalf of Veritas...
Bigger Is Better for Lloyd’s Syndicates with Active Cycle Mgmt: S&P
Jun 10 2016 // Benign catastrophe losses, combined with lower and less frequent casualty lines claims, helped Lloyd’s syndicates deliver another strong set of results in 2015, reporting an average combined ratio of 90 percent,...
Insured Losses from Australia’s Storms Rise to $41.6M
Jun 8 2016 // The Insurance Council of Australia (ICA) has expanded the footprint of the latest insurance catastrophe to include the east coast of Victoria and Tasmania’s northern and eastern coastlines. The declaration increases...
Insured Losses from French Floods May Total $682M: Industry Association AFA
Jun 6 2016 // Insurance executives meet with government officials in Paris Monday to assess the cost of flooding in the Centre and Ile-de-France regions as the Seine river recedes from its highest levels in more than three decades. The...
Carriers Can Still Profit Despite Unpredictable Economy, Berkley Says
Jun 6 2016 // Partnership and greater efficiency will help lead the way to continued profitability despite a new level of uncertainty globally, according to Bill Berkley, executive chairman of the W.R. Berkley Corp. and keynote speaker...
P/C Insurers Continue to See Slow Premium Growth and Rising Loss Ratios
Jun 6 2016 // For U.S. property/casualty insurers, net written premium still grew in 2015, but the rate of expansion is slowing, and the industry’s collective combined ratio worsened slightly, according to a new report from ISO...
P/C Commercial Insurance Business Expected to Deteriorate
Jun 6 2016 // Underwriting performance for the commercial lines sector of the U.S. property/casualty (P/C) insurance industry is likely to deteriorate in 2016, according to a new report from Fitch Ratings. The expected decline would...
PERILS Revises Loss Estimate for UK Floods from Storm Desmond to $861.4M
Jun 3 2016 // The insured property loss estimate for floods that hit the UK from Dec. 4 to 24, 2015, following Storm Desmond and other low pressure systems, has been revised to £597 million ($861.4 million), according to PERILS, the...
UK Broker Bluefin Extends Loss Recovery Insurance Partnership with Lorega
Jun 2 2016 // Bluefin, the London-based insurance broker, has extended its existing loss recovery insurance services partnership with Lorega Ltd., the UK MGA and assistance specialist, across its middle market commercial business. The...
PBS/NPR Documentary Adds to Criticism of Private Insurers, FEMA Over Profits on Flood Insurance
May 25 2016 // Private insurance companies working for the government’s flood insurance program have made hundreds of millions of dollars at the same time that thousands of homeowners are claiming they have been underpaid for...
Disaster Fraud Rampant After Floods, Hurricanes
May 24 2016 // This year, extensive flooding has already affected parts of Texas and Louisiana. With more rain producing floods in the forecast for the southern part of the U.S. this spring, the likelihood of disaster fraud...
Small Group of Bermudian Re/Insurers Drive Overall Q1 Premium Growth: S&P
May 24 2016 // At first glance, Bermudian re/insurance companies appeared to start the year with a bang, reporting a 21 percent increase in consolidated gross premiums written (GPW), according to a new report published by Standard &...
Another Part of Oklahoma Workers’ Comp Act Struck Down
May 23 2016 // The Oklahoma Supreme Court dealt another blow to the state’s 2013 workers’ comp overhaul by finding unconstitutional a provision of the Oklahoma Administrative Workers’ Compensation Act pertaining to the...
Tough Times for Commercial Auto Insurance: Fitch
May 23 2016 // While the property/casualty industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole reported an underwriting loss for the fifth consecutive year in 2015. In...
