Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Floods Drive Economic Losses in 2021, but Only 25% of Risks Are Insured: Swiss Re
Apr 18 2022 // More than 50 severe flood events around the world caused combined economic losses of $82 billion in 2021, while insured losses stood at slightly more than $20 billion — more evidence of a large ongoing global...
Chubb’s Greenberg on War, Ex-CAT Reporting and Insurance Profits
Apr 18 2022 // Chubb’s 2021 annual report, published online in April 2022, contains more than the details of the best year in the company’s history. As in past years, the chief executive commented on world events in his...
D&O Loss Ratios Unchanged by Rate Hikes; Supply Disruption to Fuel Suits
Apr 18 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported in March, citing the impact of social inflation on rising...
Louisiana Teen Turns Tragic Loss Into Effort to Improve Highway Safety
Apr 11 2022 // A Louisiana high school senior who lost her best friend in a head-on collision is on a mission to improve safety on on Highway 167. Emma Hebert and Ramsie Baumgardner both attended North Vermillion High, and Baumgardner...
Chubb’s Greenberg: On War, Ex-CAT Reporting and Insurance Profits
Apr 11 2022 // When Chubb published its 2021 annual report online this week, it contained more than the details of the best year in the company’s history. As in past years, the chief executive commented on world events in his...
Will Companies Exiting Russia Be Able to Recoup Losses With Insurance?
Apr 4 2022 // Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co. to PwC, a global professional services...
Global Insurance Losses From Russia-Ukraine War Could Range From $16B to $35B
Apr 1 2022 // Global insurance losses from the Russia-Ukraine war could range from $16 billion to $35 billion, with reinsurers expected to assume 50% of those claims, according to a report published by S&P Global Ratings. While...
Floods Drive Economic Losses in 2021, but Only 25% of Risks Are Insured: Swiss Re
Mar 30 2022 // More than 50 severe flood events around the world caused combined economic losses of US$82 billion in 2021, while insured losses stood at slightly more than US$20 billion – more evidence of a large ongoing global...
Jet Leasing Firms Tally Up Losses Stemming From Russia-Ukraine War
Mar 30 2022 // Aircraft leasing firms are tallying up losses stemming from Russia’s invasion of Ukraine, according to the head of Avolon Holdings Ltd., one of the biggest players in the industry. Lessors are in dialogue with...
Some Credit Suisse Investors Do Not Want to Absolve Execs for Greensill Losses: FT
Mar 28 2022 // Some shareholders in Credit Suisse do not want the bank to hold a vote in the annual meeting on absolving senior executives from losses racked up in the Greensill affair, The Financial Times reported on Sunday. Investors...
Rate Hikes, Telematics, Data Science Leading Allstate Back to Profit
Mar 25 2022 // For the second time this month, a personal auto insurance giant devoted an investor conference to the topic of rate hikes, with Allstate executives also assuring listeners the carrier has various other tools to return to...
Lloyd’s Expects ‘Major Claim’ From Russia-Ukraine War, Reports ‘Strong’ Profit in 2021
Mar 24 2022 // Lloyd’s, the world’s leading insurance and reinsurance marketplace, announced “a strong return to profitability” in its 2021 full year financial results, with an overall profit of £2.3 billion...
Citizens: Underwriting Losses, but $81M in Net Income Thanks to Investments
Mar 24 2022 // Citizens Property Insurance Corp. directors said Wednesday they continue to worry about the state of the Florida insurance market, Citizens’ growth and its potential losses, despite $6.5 billion in surplus and an $81...
Will Companies Exiting Russia Be Able to Recoup Losses With Insurance?
Mar 23 2022 // Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co. to PwC, a global professional services...
Arkansas Teachers Fund Agrees to $643M Settlement With Allianz Over Losses
Mar 21 2022 // A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document. The...
Aircraft Insurers Brace for Barrage of Russia Claims in Possibly Biggest Aviation Loss
Mar 18 2022 // Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of...
Ping An Insurance Profit Falls 29%
Mar 18 2022 // Ping An Insurance Group Co of China Ltd., the country’s largest insurer, on Friday reported its biggest annual profit fall since 2008 as the country’s property market soured, but said it expected such...
Fire Damages Cause ‘Total Loss’ to Hastings, Nebraska Downtown
Mar 16 2022 // An investigation has begun to determine what caused a fire that badly damaged several buildings in downtown Hastings. Firefighters were called just before 11:30 p.m. March 13 to a report of a fire on the awning of...
Generali Reports Record Operating Profit in 2021, as Board Battle Looms
Mar 15 2022 // Italy’s top insurer Generali, facing a power struggle over its management, said on Tuesday it posted record operating profit last year thanks to a strong contribution from all of its business segments. Generali also...
Vermont Court Sides With Ambassador Insurance in Allocation of Asbestos Losses
Mar 8 2022 // The Vermont Supreme Court has denied a bid by a manufacturer of asbestos products to bypass Vermont law in determining the allocation of losses for insurance purposes. In so doing, the Vermont court sided with Ambassador...
