Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
Allianz Q4 Profit Misses Estimates; Shares Drop
Feb 27 2014 // Allianz SE, Europe’s biggest insurer, posted fourth-quarter earnings that missed analysts’ estimates and said operating profit may decline this year amid low interest rates. The shares fell. Net income grew to...
Effort to Put House in Order Paying Off: Meadowbrook Insurance CEO
Feb 26 2014 // Meadowbrook Insurance Group, based in Southfield, Mich., has struggled with many challenges during the past couple of years but the “strong remedial measures” implemented to correct unacceptable results are...
Direct Line Says Cost of U.K. Floods Could Reach $183.6 Million
Feb 26 2014 // Direct Line Insurance Group Plc, seen as one of the insurers most vulnerable to losses from the recent U.K. storms, said weather claims may cost as much £110 million ($183.6 million) as full-year profit jumped. Pretax...
Liberty Mutual Swings to Profit; 2013 Full-Year Income Rises 110% to $1.74B
Feb 25 2014 // Liberty Mutual Holding Company Inc. and its subsidiaries today reported net income of $496 million for its 2013 fourth quarter, improving from a net loss of $234 million during the prior-year fourth quarter. The insurer...
Aviva, RSA, Direct Line Face Heaviest Losses from UK Floods
Feb 24 2014 // Aviva Plc, RSA Insurance Group Plc, and Direct Line Group Plc are poised to bear the brunt of losses from flooding in Britain that is estimated to cost the industry as much as £1 billion ($1.667 billion). Aviva, the...
Who’s Worth What in the Independent Agency System
Feb 24 2014 // Exclusive Survey Shows Compensation Up, Benefits Up With a Cost For the second year in a row, salaries and total compensation rose in independent insurance agencies across the nation. More agencies are offering health...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 24 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
Delaware Approves 14% Hike in Workers’ Comp Voluntary Market Loss Costs
Feb 21 2014 // Delaware Insurance Commissioner Karen Weldin Stewart announced today that she has approved the re-submission of the Delaware Compensation Rating Bureau (DCRB) workers’ compensation rate filing regarding the residual...
Donegal Group’s Q4 Profit Up 54% to $9.6M
Feb 21 2014 // Donegal Group Inc., based in Marietta, Penn., today posted $9.56 million in net income for its 2013 fourth quarter, up 54 percent from $6.22 million net income posted during the 2012 fourth quarter. For the full year 2013,...
Maine Approves 7.7% Decrease in Workers’ Comp Loss Costs
Feb 21 2014 // Maine Gov. Paul R. LePage and Insurance Superintendent Eric Cioppa announced Thursday that the Bureau of Insurance has approved the National Council on Compensation Insurance Inc.’s (NCCI) 2014 loss cost for Maine,...
AXA Profit Rises 10% in 2013 on Life, Property and Casualty
Feb 21 2014 // AXA SA, Europe’s second-largest insurer, posted a 10 percent increase in 2013 profit on higher earnings at its life and savings and property and casualty divisions. Net income rose to €4.48 billion ($6.15 billion)...
Allstate: Catastrophe Losses in January Reached $277M
Feb 20 2014 // Allstate Corp. said estimated catastrophe losses for the month of January were $277 million. The cost is $180 million after tax, the personal lines insurer said. Catastrophe losses were from six events at an estimated cost...
Swiss Re Posts $4.4 Billion Profit for 2013; Plans Special Dividend
Feb 20 2014 // Swiss Re posted net income of $4.4 billion for 2013. The earnings report said the “result was driven by sustained, high profitability in Property and Casualty Reinsurance and very good performances by Corporate...
AIG Posts Q4 Profit; Commercial Combined Ratio at 107.7
Feb 14 2014 // Insurer American International Group on Thursday raised its dividend and announced more share buybacks as its fourth-quarter earnings beat expectations, swinging to a profit compared with a year-earlier loss. The company...
Global 2013 Cat Losses at $40 Billion Were ‘Below Average’ – Guy Carpenter
Feb 13 2014 // Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, 2013 Catastrophe Review concludes that “natural catastrophes and man-made disasters...
Zurich Insurance $1.07 Bn Q4 Profit Misses Estimates after Restructuring
Feb 13 2014 // Zurich Insurance Group AG, the biggest Swiss insurer, reported fourth-quarter profit that missed analysts’ estimates after restructuring charges following a business review. Net income rose 9 percent to $1.07...
Argo Group Reports Q4 Net Income of $47.8 Million, FY $143.2 Million
Feb 13 2014 // Bermuda-based Argo Group International Holdings, Ltd. announced its financial results for the fourth quarter of 2013 and for the full year. Highlights for the fourth quarter ended December 31, 2013 were listed as...
MAPFRE Earnings up 18.7% to $1.078 Billion; Revenues at $35.32 Billion
Feb 12 2014 // Spain’s MAPFRE Group announced that its earnings for 2013 rose by 18.7 percent, to €790.5 million [$1.078 billion], while total revenues rose by 2.3 percent to €25.889 billion [$35.32 billion]. The earnings...
MMC’s Marsh 4Q Revenue Jumps 4% to $1.4B
Feb 11 2014 // Marsh & McLennan Cos. reported $303 million in net income for its 2013 fourth quarter, up 17 percent from $259 million posted during the prior-year fourth quarter. The full year 2013 net income was $1.4 billion, up...
