Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Brazil’s BB Seguridade Could Deliver Returns Near 60%, Despite Poor Economy
Feb 23 2016 // BB Seguridade Participações SA, the insurance unit of state-controlled Banco do Brasil SA, could deliver returns near 60 percent this year even as Brazil’s worst recession in decades hampers growth in underwriting...
Swiss Re’s 2015 Net Income Rises 31% to $4.6B; Q4 Profit Up to $938M
Feb 23 2016 // Swiss Re AG reported fourth-quarter profit that beat estimates after a quiet year for natural catastrophes and announced that Christian Mumenthaler, head of the company’s main reinsurance unit, will take over as...
Donegal Group Reports $7.7M Q4 Net Income
Feb 22 2016 // Donegal Group Inc. reported $7.76 million in net income for the 2015 fourth quarter, up 73 percent from $4.49 million during the same period in 2014. The full-year 2015 net income jumped to $26.77 million, an 84 percent...
Startup Zenefits Shows How Hard Hitting Revenue Targets Can Be
Feb 22 2016 // Zenefits probably couldn’t have predicted it would spend the first two weeks of February dealing with the resignation of its founding chief executive officer under pressure from the board and the loss of its biggest...
Risk Accumulation Aggravated Zurich’s Tianjin Port Explosion Losses: Chairman
Feb 22 2016 // Zurich Insurance Group AG is fixing how it detects risks after miscommunication among units aggravated losses from a port explosion in China last year, Chairman and acting Chief Executive Officer Tom de Swaan...
Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P
Feb 22 2016 // Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services,...
Gig Economy Now 6.5% of U.S. Workforce; Provides Extra Income for 10 Million
Feb 22 2016 // It’s a job market revolution: an estimated 10.3 million Americans earned income through web-based platforms like Uber and Airbnb between 2012 and 2015. That’s more people than reside in the entire state of...
Illinois County Seeks Insurance Recovery for Employee Fraud Loss
Feb 22 2016 // A northern Illinois county purchasing director allegedly spent more than $60,000 on personal items, according to a draft of an insurance claim Winnebago County plans to file. The Rockford Register Star reports the claim...
Update: Aegon Reports Q4 Pretax Profit of $534.9M, Down 14% on U.S. Income
Feb 19 2016 // Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., fell in Amsterdam trading after decline in U.S. income pushed down fourth-quarter pre-tax earnings. The stock dropped as much as 4.5 percent and was down 3.2...
Allianz Q4 2015 Profit Rises to $1.6B on Cat Claims; Lower Than Analyst Estimates
Feb 19 2016 // Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe’s biggest insurer increased to 1.42 billion euros ($1.6 billion) in the quarter from...
Reinsurers’ Loss Reserves Dwindle While Rates Continue to Drop: Allianz Re CEO
Feb 18 2016 // Reinsurers are running out of claims reserves that they can release to boost profits as pricing continues to fall, according to the head of Allianz SE’s reinsurance unit. “I don’t think there are too many...
Aon Loss Model Offers Insurers 7.5 Million U.S. Thunderstorm Scenarios
Feb 17 2016 // Aon Benfield’s catastrophe model development team, Impact Forecasting, has launched a U.S. severe thunderstorm (STS) scenario model that it says can help insurers more accurately estimate annual losses based on...
Battered by Long-Term Insurance Losses, Genworth Eyes Asset Sales
Feb 15 2016 // Genworth Financial Inc., the insurer battered by losses on long-term care coverage, has said it could pursue more divestitures to help pay down more than $500 million in debt maturing in 2018 as turmoil in the bond market...
Pennsylvania OKs Average Workers’ Comp Loss Cost Decrease of 0.9%
Feb 12 2016 // The Pennsylvania Compensation Rating Bureau (PCRB) said the Pennsylvania Insurance Department has approved PCRB’s filing which calls for an overall average workers’ compensation loss cost decrease of 0.90...
Willis Group Reports (Pre-Merger) Q4 Loss of $24M, vs. Q4 2014 Earnings of $76M
Feb 12 2016 // Willis Group reported a net loss of $24 million, or $(0.35) per diluted share during the fourth quarter of 2015, compared to earnings of $76 million, or $1.12 per diluted share, in the prior year quarter. During the 12...
AIG Reports $1.8 Billion Q4 Net Loss on Weak Underwriting, Investments
Feb 12 2016 // American International Group Inc. reported an operating loss of $1.3 billion for the fourth quarter of 2015, compared to after-tax operating income of $1.4 billion in the prior-year quarter. Disappointing underwriting and...
Markel Reports $197M Q4 Net Income
Feb 11 2016 // Markel Corp. reported $197.9 million in net income to shareholders for the 2015 fourth quarter, up from $117.6 million during the same period in 2014. For the full-year 2015, the Richmond, Virginia-based specialty insurer...
EPIC Names Allen West Region Loss Control Consultant
Feb 11 2016 // EPIC Insurance Brokers and Consultants has named Joshua Allen West region risk management loss control specialist. Allen will be based in EPIC’s Concord, Calif. office and he will report to Marianne Schleicher, chief...
Mapfre Posts 32% Drop in Q4 Net Profit to $132 Million
Feb 11 2016 // Mapfre SA, Spain’s largest insurer, cut its annual dividend and posted a 32 percent drop in quarterly net profit as income from premiums fell. The shares fell [on Feb. 10] to the lowest since August 2012. The...
Update: Zurich Reports 4Q Loss of $424M, vs. Profit of $860M in Q4 2014
Feb 11 2016 // Zurich Insurance Group AG reported a worse-than-expected loss in the fourth quarter as the company makes plans to turn around its unprofitable general insurance unit. The net loss was $424 million compared with a profit of...
