Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Berkshire Hathaway Posts $43.8 Billion Loss as Stock Holdings Tumble
Aug 8 2022 // The slide in U.S. stock prices punished Berkshire Hathaway Inc’s bottom line in the second quarter, as the conglomerate run by billionaire Warren Buffett on Saturday reported a $43.8 billion loss. Berkshire...
Net Loss of $343 Million for Liberty Mutual in Q2
Aug 4 2022 // Liberty Mutual Holding Co. said it recorded a second quarter net loss of about $343 million compared with net income of nearly $770 million during the same period a year ago. CEO David H. Long said results were affected by...
Allstate ‘Further Accelerating’ Rate Hikes Following Q2 Loss
Aug 4 2022 // Allstate Corp. said it is accelerating its plan to increase auto insurance rates as it reported unprofitable results for the second quarter. Allstate booked a net loss of $1.04 billion in the second quarter compared with a...
G7 Nations Mull Options to Deprive Moscow of Bumper Oil Profits
Aug 3 2022 // The Group of Seven (G7) wealthy nations is looking at blocking the transportation of Russian oil among other options to deprive Moscow of bumper revenues amid its invasion of Ukraine, unless it heeds a price cap. In a...
French Insurer AXA Posts 3% Rise in H1 Net Profit
Aug 3 2022 // French insurer AXA announced a new share buyback program as it posted a 3% rise in first-half net profit, driving up its stock price. AXA, Europe’s second-biggest insurer behind Germany’s Allianz, said it would...
Floods, Storms Drive Global Insured Catastrophe Losses of US$38B in H1 2022: Swiss Re
Aug 2 2022 // A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the...
UK Motor Insurer Direct Line to Raise Premiums After H1 Profit Hit
Aug 2 2022 // British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. Chief Executive Penny...
Generali Beats Forecasts With H1 Net Profit of $1.4 Billion
Aug 2 2022 // Italy’s top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings...
Hartford, CNA Post Drops in Q2 Net Income
Aug 2 2022 // Second quarter earnings at The Hartford fell to $437 million – about 51% less than the same period a year ago. Hartford said it booked a $485 million before-tax change from net realized gains to net realized losses...
New Sustainability Rules Attacked for Protecting Profits Over Planet
Jul 29 2022 // The organization aiming to set worldwide climate reporting requirements for decades to come is under fire for putting corporate interests ahead of the planet’s. In coming months, the International Sustainability...
United P&C Completes Florida Restructuring Amid Catastrophe Losses
Jul 28 2022 // United Insurance Holdings, parent of United Property & Casualty Insurance, said it has completed most of its major reorganization plan, consolidating its four Florida-based carriers into two. The news was accompanied...
Chubb Increases Loss Cost Trends ‘Rather Than Be Lagging and Get Caught’: Greenberg
Jul 28 2022 // Chubb CEO Evan Greenberg said the insurer is seeing favorable returns, but additional rate is needed to “keep pace with loss costs, which are hardly benign.” Greenberg said during the July 27 call to discuss...
Reinsurer SCOR Reports H1 Loss of €239M Blamed on Ukraine War, Natural Disasters
Jul 28 2022 // Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380...
Greensill Capital Sued by 277 Former Employees Over Firm’s Collapse, Job Losses
Jul 28 2022 // A group of ex-Greensill Capital employees sued the defunct firm in London, accusing management of unfairly keeping them in the dark about the company’s “imminent danger of collapse.” A group of 277...
Hub Acquires Stop Loss Brokers in Massachusetts
Jul 27 2022 // Global insurance broker HUB International Limited (Hub) reported that it has acquired the assets of Stop Loss Insurance Brokers, Inc. and Berkeley Insurance Brokers, Inc. Terms of the transaction were not...
Chubb Q2 Net Income Drops $1 Billion; Books Record Insurance Results
Jul 26 2022 // Chubb Ltd. late Tuesday said second quarter net income was about $1.22 billion, more than a 46% fall from $2.27 billion in net income logged during the same period a year ago. The insurer said it lost $565 million after...
Beazley’s H1 Profits Drop but Full-Year Outlook Rises on Cyber Premium Growth
Jul 22 2022 // Lloyd’s of London insurer Beazley on Friday reported first-half profits fell on hits to its investment portfolio from market volatility, but raised its full-year profitability guidance on an increase in cyber risk...
Travelers’ Income Drops, but Still Beats Profit Estimates on Record Premium Growth
Jul 22 2022 // Insurer Travelers Cos. Inc. reported a smaller-than-expected fall in quarterly profit on Thursday, as record premium growth cushioned a hit from higher catastrophe-related claims and lower returns on investments. The...
Progressive Corp. Records June, Q2 Loss
Jul 15 2022 // Progressive Corp. said Friday it recorded a loss of about $543 million for the second quarter 2022 and a loss of $436.7 million in June. Pretax loss on securities in Q2 were about $1.18 billion – $564 million in June. To...
Insurance Losses From Sydney Floods Approach A$100M: ICA
Jul 8 2022 // Insurers have received 8,415 claims as a result of July’s floods in Sydney, carrying an initial estimated insurance price tag of A$97.9 million (US$66.8 million), according to the Insurance Council of Australia...
