Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allied World Posts $51.6 Million Q3 Net Loss; GWP Increase
Oct 22 2015 // Allied World Assurance Company Holdings, AG reported a net loss of $51.6 million, or $0.57 per share, for the third quarter of 2015 compared to net income of $30.9 million, or $0.31 per diluted share, for the third quarter...
P/C Insurers Posted $31B Profit for 2015 1st Half, Highest 1st-Half Income Since ’07
Oct 21 2015 // Private U.S. property/casualty insurers’ net income after taxes grew to $31.0 billion in the first half of 2015 from $26.0 billion in the first half of 2014, according to a report today from Verisk Analytics’...
Climate Change Adds Billions to U.S. Hurricane Losses: Study
Oct 20 2015 // Climate change has added billions to the toll of hurricane strikes on the U.S., according to a study that challenges the prevailing scientific view that the rising cost is mainly because more buildings, towns and...
XL’s Preliminary Loss Estimates for Tianjin-$100M, $30M for Others in Q3
Oct 19 2015 // XL Group plc announced that its preliminary loss estimates for the Tianjin disaster and other events in the third quarter of 2015 – pretax and net of reinsurance and reinstatement premium – were as follows: The...
Citizens’ CEO Updates Board on Water Loss Issue, Depopulation Program
Oct 19 2015 // Citizens Property Insurance Corporation’s top executive warned the company’s Board of Governors Sept. 30 that water loss claims will continue to hamper efforts to reduce rates for many Florida...
Losses to South Carolina Crops Rising as State Suffers More Rain
Oct 12 2015 // The farms and playground area for picking pumpkins were swamped in Mt. Pleasant, S.C., Monday, Oct. 5, 2015. South Carolina is still struggling with floodwaters due to a slow moving storm system. (AP Photo/Mic Smith) Thad...
California Wildfire Claims Top $1B as Peak Season Begins: Report
Oct 8 2015 // A report forecasts claims from two California wildfires last month will exceed $1 billion. Wildfires in 2015 have caused more damage and financial loss in the U.S. than in any other year since 2007, according to the...
Validus Estimates Losses of $64 Million from China Port Explosion & Chile Quake
Oct 7 2015 // Validus Holdings Ltd. estimates it lost just under $64 million from the Port of Tianjin explosion and recent earthquake in Chile, a number that matches its Q2 net income. Breaking down this figure, the Bermuda-based...
Flood, Flood, or Flood: What Insureds Really Mean when they Report a ‘Flood’ Loss
Oct 7 2015 // “We’ve had a flood,” says the insured. “Oh, no!” the agent says, “What happened?” What really happened, and the coverage implications of what happened, is what must be considered...
Southeast Storm Update: Significant Auto Losses Expected
Oct 6 2015 // A pickup truck rests against the side of Gills Creek near a bridge in Columbia, S.C., Monday, Oct. 5, 2015. Days of torrential rains kept much of South Carolina and its capital gripped by floodwaters early Monday. (AP...
Assessing First-Half P/C Insurance Results: A.M. Best
Oct 6 2015 // The property/casualty insurance industry is likely to post a third consecutive year of underwriting profits, considering its performance in the first half of the year and barring any late year catastrophic losses,...
Agent Develops Coverage to Fill Gaps in Traditional Wind Insurance
Oct 6 2015 // Between deductibles, excluded losses, and difficulty accessing business interruption coverage, a business suffering hurricane losses can take a big out-of-pocket economic hit even if it has insurance. There is a disconnect...
Crisis Services Top Insurers’ Cyber Claims Payouts; Average Claim at $674K
Oct 5 2015 // New claims costs data reveal a wide discrepancy on costs associated with cyber losses. More than $75.5 million has been spent on cyber claims losses as reported in the latest cyber claims study published by NetDiligence, a...
A.M. Best Affirms Zurich Insurance Ratings; Outlook Negative on Expected Losses
Oct 5 2015 // A.M. Besthas affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” while at the same time revising the outlook to negative from stable forZurich Insurance Company...
A.M. Best: UK Non-Life Insurers’ Earnings Remain Under Pressure
Oct 5 2015 // Market conditions for UK non-life insurers are challenging as pricing remains weak across most business lines amid fierce competition, according to a new A.M. Best special report. Titled “UK Non-Life Earnings Under...
Gap Between Insured & Economic Losses Offers Business Opportunities: AIR
Oct 5 2015 // A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, says a new AIR Worldwide report. What the catastrophe modeling firm found: the global insured average...
Insured Losses From Joaquin Might Be Minimal at This Juncture: Macquarie
Oct 2 2015 // While still a major hurricane that turned into a Category 4 Thursday above the Bahamas, the estimated track for Hurricane Joaquin has continued to track further east of the U.S. in recent estimates. If the latest forecast...
NCCI Proposes Decrease for Workers’ Comp Loss Costs in Connecticut
Oct 1 2015 // The National Council on Compensation Insurance (NCCI) on Sept. 24 delivered a workers’ compensation loss cost filing to the Connecticut Insurance Department. NCCI said that based upon its review of the most recently...
Citizens’ CEO Updates Board on ‘Critical’ Water Loss Issue, Depopulation Program
Oct 1 2015 // Citizens Property Insurance Corporation’s top executive warned the company’s Board of Governors Wednesday that water loss claims will continue to hamper efforts to reduce rates for many Florida...
Farmers Estimates $225M Loss from Northern California Fires
Sep 30 2015 // Farmers Insurance reported more than 1,300 claims filed, and an anticipated 1,800 total, with an estimated overall loss of roughly $225 million from two California wildfires that burned nearly 150,000 acres this month in...
