Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Donegal Group’s Q3 Net Income Rises 14% to $8.7M
Oct 24 2014 // Donegal Group Inc. in Marietta, Pennsylvania, today posted $8.749 million net income for the company’s 2014 third quarter, a 14.3 percent increase from $7.654 million net income one year ago. Total net premiums...
Chubb Reports ‘Outstanding’ Q3
Oct 24 2014 // Calmer weather, rate increases, high account retention and lower expenses powered The Chubb Corp. to a what the firm’s CEO said was an “outstanding” third quarter. The New Jersey-based insurer reported...
AXA CFO Says Euro’s Decline Against Dollar to Help Earnings
Oct 24 2014 // AXA SA’s Chief Financial Officer Gerald Harlin said the euro’s decline against the dollar should help earnings in coming quarters as France’s largest insurer posted nine-month sales that were little...
Early Insured Loss Estimates on Hurricane Gonzalo Up to $400M
Oct 23 2014 // Early estimates by catastrophe modeling firms indicate insured losses from Hurricane Gonzalo in Bermuda will come in between $200 and $400 million. EQECAT estimates $300 million in insured losses, about the scale caused by...
Travelers’ Profit Up 6% for Q3 on Investment Income, Lower Cat Losses
Oct 21 2014 // The Travelers Companies Inc. today reported net income of $919 million for the quarter ended Sept. 30, 2014, up more than six percent compared to net income of $864 million in the prior year quarter. Operating income in...
SterlingRisk Insurance Launches Aircraft Business Income Cover
Oct 21 2014 // SterlingRisk Insurance, a privately-owned brokerage based in Woodbury, N.Y., has launched aircraft business income coverage designed for both the aircraft owner and operator to protect their expected charter revenue from...
Hannover Re Sees Storm Losses Stabilizing Reinsurance Prices in Germany
Oct 21 2014 // Hannover Re, the world’s third- largest reinsurer, expects more than 5 billion euros ($6.4 billion) in losses from two storms to sustain prices for coverage in Germany. “Heavy loss expenditures, especially in...
NJ Transit Sues Insurers Over Sandy Losses, Seeks $300M
Oct 20 2014 // New Jersey Transit, the nation’s third-largest bus, rail and light rail transportation provider, is suing several excess insurers to recoup additional $300 million for Superstorm Sandy losses. NJ Transit says its...
P/C Insurers’ Net Income Rose in First-Half of 2014
Oct 20 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
Hail Claim Losses Increasing in Number, Severity
Oct 20 2014 // From 2002 through 2013 property/casualty insurers paid out $54 billion in claims losses on almost 9 million residential properties, but the majority of those losses occurred between 2008 and 2013, according to a report...
With $100M in Crop Losses USDA Grants Eight Idaho Counties Disaster Status
Oct 20 2014 // The U.S. Department of Agriculture has granted disaster area status to eight counties in central and eastern Idaho, clearing the way for farms to receive low-interest loans for operating costs. USDA Secretary Tom Vilsack...
DCRB Seeks Decrease in Del. WC Voluntary Loss Costs, Residual Market Rates
Oct 17 2014 // The Delaware Department of Insurance said it has received the Delaware Compensation Rating Bureau’s (DCRB) filing proposing a decrease in both the workers’ compensation voluntary market loss costs and the...
Florida Regulators Consider NCCI Request for 3.3% Rate Decrease
Oct 15 2014 // Florida’s workers’ compensation insurers rating agency says its request for a 3.3 decrease in rates reflects a stable market, although it cautioned that pending court cases could severely impact the...
RMIIA: Colorado Hailstorm Caused $213M in Insured Losses
Oct 15 2014 // Insurers say a hailstorm last month carried a hefty price tag. Rocky Mountain Insurance Information Association spokeswoman Carole Walker said Monday the Sept. 29 storm pounded thousands of vehicles and roofs, causing an...
Progressive Profit Jumps 27% in Q3 on Improved Sales
Oct 15 2014 // Progressive Corp., the fourth- largest U.S. car insurer, said profit rose 27 percent as margins improved for a second straight period. Third-quarter net income climbed to $296.1 million, or 50 cents a share, from $232.4...
Best Report: Spain’s Insurance Market Remains Profitable
Oct 14 2014 // As Spain’s economy shows signs of improvement, there are indications that the decline in the country’s non-life insurance market has slowed in 2014, aided by growth in the health insurance sector, according to...
A.M. Best: UK Non-Life Insurers’ Profits Under Pressure
Oct 14 2014 // Profit margins in the U.K. non-life insurance sector are under pressure this year as companies fight to maintain pricing discipline in an extremely competitive market, according to a new A.M. Best special report. Premium...
Oklahoma Wheat Farmers Seek Drought Loss Relief from USDA
Oct 13 2014 // Oklahoma wheat farmers want the U.S. Department of Agriculture to implement now a policy that’s scheduled to start in 2016 that farmers say would help ease the financial pain of ongoing drought. The policy is part of...
RMS: ‘Big One’ in Northern California Could Cause $200B in Losses
Oct 13 2014 // Earthquake risk in the San Francisco Bay Area is on the rise while earthquake insurance penetration statewide has dropped significantly since the Loma Prieta earthquake that rocked the Bay Area 25 years ago, causing nearly...
New Jersey Transit Sues Insurers Over Sandy Losses, Seeks $300M
Oct 8 2014 // New Jersey Transit, the nation’s third-largest bus, rail and light rail transportation provider, is suing several excess insurers to recoup additional $300 million for Superstorm Sandy losses. NJ Transit says its...
