Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Survey: Revenue Up, Independent Agents Seeking New Carriers
Apr 18 2016 // Independent insurance agents continue to grow and want to grow more with the help of new carrier appointments. This is one of the initial findings of a new national survey of agents conducted by Channel Harvest Research...
PURE Insurance Launches Non-Profit D&O Coverage
Apr 14 2016 // Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, has made several enhancements to its personal excess liability...
Louisiana Ag Losses from March Flooding Could Top $15M
Apr 10 2016 // The agricultural loss from the March flooding across Louisiana could top $15 million, according to an economist with the LSU AgCenter. Kurt Guidry said the loss figures are preliminary, because reports are coming in daily...
Florida’s Citizens Pushes Policy Changes to Address Rising Water Loss Claims
Apr 4 2016 // Citizens Property Insurance Corp.’s board of governors approved recommendations last month aimed at reducing the impact of what it calls skyrocketing water-loss claims that could reverse progress made in returning...
Uncertainties Outweigh Growth Benefits When P/C Insurers Take On Too Much Cyber Risk, Rating Agency Warns
Apr 4 2016 // If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty...
Young Agents’ Optimism High on Career Choice, Income and Future of Agency System
Apr 4 2016 // It’s no secret that the insurance industry is facing a huge talent gap. Almost half of all insurance professionals are over age 45, with 25 percent of the industry expected to retire by 2018. That’s a...
Kansas Revenues in March Boosted by Insurance Premium Tax
Apr 3 2016 // Kansas came close last month to hitting its target for tax collections, and the shortfall of less than $2 million reported represented relatively good news after a winter of gloomy budget developments. Sales tax...
Kenya Re Expects to Sell More Political Risk Cover in 2017, Boosting Earnings
Mar 31 2016 // Kenya Reinsurance Corp., the country’s only publicly traded reinsurer, expects increased political risk linked to presidential elections in the East African nation next year to boost earnings, Chief Executive Officer...
AIG Executives’ Pay Trimmed for Missing Profit Goals
Mar 30 2016 // American International Group Inc., the insurer being pressured by activist investors to split up, cut short-term incentive pay for Chief Executive Officer Peter Hancock by 29 percent last year as he missed profit...
2015 Global Insured Losses Lowest Since 2009 Despite El Niño Effects: Carpenter
Mar 25 2016 // One of the strongest El Niño periods on record and a positive phase of the North Atlantic Oscillation were the climate drivers in 2015 that led to an exceptional season of Pacific tropical storms and severe windstorms and...
PERILS Raises Insured Property Loss Estimate for UK Storms Eva & Frank to £578M
Mar 24 2016 // Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to an initial loss estimate of £526 million ($745.2 million), according to PERILS,...
Strong Reinsurer Results Hide Difficult Business Conditions: S&P, Fitch Reports
Mar 24 2016 // Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new...
Lloyd’s Profit Drops 30% in 2015 on Weak Prices and Lower Investment Income
Mar 23 2016 // Lloyd’s of London reported a 30 percent drop of full-year profit as the world’s largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least 2001. Earnings...
Rating Agency Warns P/C Insurers on Taking On Too Much Cyber Risk
Mar 21 2016 // If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty...
Despite Energy Job Losses, South Central States Report Some Employment Gains
Mar 21 2016 // While oil and gas industry job losses had an impact in the South Central states over the last year, Arkansas, Louisiana Oklahoma and Texas still saw decreases in unemployment rates in 2015. Year-over-year from 2014 to...
Vienna Insurance 2015 Pretax Profit Down 67% on Romanian, Polish Writedowns
Mar 18 2016 // Vienna Insurance Group AG fell the most since 2009 after writedowns at its Romanian and Polish businesses added to earlier impairments of computer systems and helped push pretax profit for last year 67 percent lower. The...
Generali Q4 Profit Misses Analysts’ Estimates on Life Income; Donnet Named CEO
Mar 18 2016 // Assicurazioni Generali SpA’s fourth-quarter profit rose less than some analysts expected on a writedown of its stake in BTG Pactual Group and lower income at its life business. The shares had their biggest decline in...
Florida’s Citizens Pushes Policy Changes to Address Rising Water Loss Claims
Mar 17 2016 // Citizens Property Insurance Corp.’s board of governors has approved a slate of recommendations aimed at reducing the impact of what it calls skyrocketing water-loss claims that could reverse progress made in...
P/C Insurers’ Operating Earnings Fell 7.2% in 2015: Fitch
Mar 16 2016 // U.S. property/casualty insurers’ operating earnings decreased in 2015, highlighting the competitive operating environment and low investment yields that challenge insurers’ earnings growth potential, according...
Munich Re Expects Profit Drop in 2016 on Soft Market, Low Interest Rates
Mar 16 2016 // Munich Re, the world’s second-biggest reinsurer, expects profit to decline this year as falling prices for its products and low interest rates weigh on investment earnings. The company plans to repurchase 1 billion...
