Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Everest Re Reports Q2 Net Income of $209.1M; Down from $290.2M in Q2 2014
Jul 28 2015 // Bermuda-based Everest Re Group Ltd. reported second quarter 2015 net income of $209.1 million, or $4.68 per diluted common share, compared to net income of $290.2 million, or $6.26 per diluted common share, for the second...
Hiscox Delivers H1 Pre-Tax Profit of £135.1M, Up From £124.6M in H1 2014
Jul 27 2015 // Hiscox, the Bermuda-based specialist insurer, delivered a pre-tax profit of £135.1 million* ($205.2 million) in the first half ending June 30, 2015, compared with £124.6 million ($189.3 million) during the same period in...
Chubb Reports Q2 Results
Jul 24 2015 // The Chubb Corp., which on June 30 agreed to be acquired by ACE Limited for $28 billion, reported net income in the second quarter of 2015 totaling $494 million, just a notch below the $499 million achieved in the second...
Beazley First-Half Profit Rises 16%, Led by U.S. Premium Growth
Jul 24 2015 // Beazley plc, the first Lloyd’s of London insurer to report earnings, had a 16 percent increase in first-half profit, helped by growth in its U.S. business. Pretax profit rose to $154.5 million from $132.9 million a...
Allied World Reports Decreases in Q2 Net and Operating Income
Jul 23 2015 // Allied World Assurance Company Holdings, AG has reported net income of $9.5 million, or $0.10 per diluted share, for the second quarter of 2015 compared to net income of $151.9 million, or $1.52 per diluted share, for the...
Texas Had Costliest U.S. Cat Losses in First Half of 2015: PCS
Jul 22 2015 // Texas had the most catastrophe losses in the United States during the first half of 2015, according to a new report on North American cat losses during the first six months of the year. Seventeen second-quarter catastrophe...
Insured Catastrophe Losses Fell 36% in First Half of 2015
Jul 22 2015 // Property/casualty insurers catastrophe losses in North America for the first-half of this year were down 36 percent to $8.1 billion from 2014’s total of $12.6 billion, making it the lightest catastrophe first half...
First Half-Year Economic, Insured Cat Losses Below Average: Impact Forecasting
Jul 22 2015 // In its latest report Impact Forecasting, Aon Benfield’s catastrophe model development team states: “Global natural disaster losses during the first half of 2015, from both an economic and insured loss...
ACE Q2 Profit Climbs in First Earnings Report After Chubb Announcement
Jul 22 2015 // ACE Ltd., the insurer that agreed this month to acquire Chubb Corp., said second-quarter profit rose 21 percent as policy sales climbed. Net income increased to $942 million, or $2.86 a share, from $779 million, or $2.28,...
Travelers Q2 Profit Up 19% on Lower Catastrophe Costs
Jul 21 2015 // Travelers Cos., the only property/casualty insurer in the Dow Jones Industrial Average, said second-quarter profit advanced 19 percent as natural disaster costs dropped. Net income climbed to $812 million, or $2.53 a...
How P/C Insurance Industry Fared in First Quarter
Jul 21 2015 // The U.S. property/casualty insurance industry managed to improve its underwriting results and attain higher net investment income to produce a 12.9 percent increase in pre-tax operating income in the first quarter of 2015...
U.S. Power Grid Attack Could Cause $70 Billion in Insurance Losses: Lloyd’s Report
Jul 20 2015 // A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and...
New York Court: Flood Sub-Limit in Policy Applies to Delay Loss
Jul 20 2015 // The New York Supreme Court’s Appellate Division affirmed that a $5 million flood sub-limit in a builders risk policy that Zurich American Insurance issued to a New York property developer applies to the...
Progressive’s Move Into Homeowners Paying Off; Q2 Profit Up 24%
Jul 17 2015 // Progressive Corp., the fourth-largest U.S. auto insurer, said second-quarter profit rose 24 percent after an acquisition that pushed the company into homeowners coverage. Net income climbed to $363.3 million, or 62 cents a...
New York Approves Average 5.9% Increase in Workers’ Comp Loss Costs
Jul 16 2015 // The New York State Department of Financial Services (NYDFS) has approved an average 5.9 percent increase in workers’ compensation loss costs for new and renewal business to become effective on Oct. 1, 2015. The...
Labor Department’s 6-Part Test for Classifying Employees, Independent Contractors
Jul 16 2015 // The U.S. Department of Labor has issued a blog post with new guidance on classifying workers as employees or independent contractors under the federal Fair Labor Standards Act (FSLA), an issue that has attracted renewed...
Former Top Execs at Dewey Manipulated Income Statements, Witness Testifies
Jul 16 2015 // Former top executives at defunct law firm Dewey & LeBoeuf, including chairman Steven Davis, conspired to falsify income statements in an attempt to forestall its collapse in 2012, the firm’s former finance...
AIR Estimates Typhoon Chan-hom Insured Losses Less than $354 Million
Jul 16 2015 // According to catastrophe modeling firm AIR Worldwide, insured losses in China from Typhoon Chan-hom are unlikely to exceed CNY 2.2 billion [$354.3 million]. “Typhoon Chan-hom made landfall in the coastal city of...
Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re
Jul 14 2015 // Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural...
Lehman Exec Defeats Employee Lawsuit Over Retirement Losses
Jul 13 2015 // A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank...
