Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses
Nov 15 2021 // All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower non-life, coronavirus-related...
Theft Down, Weather Losses Up in Homeowners
Nov 15 2021 // Catastrophic weather events such as wildfires, hurricanes and floods caused 39% of home insurance claims in 2020 – the highest percentage in the last six years. According to the 2021, LexisNexis Home Trends Report,...
When a Property Loss Extends to Liability in Senior Care Facilities
Nov 15 2021 // There’s a storm warning. It might be a hurricane, a tornado, a derecho, or a microburst. It doesn’t matter, they all have one similar characteristic, damaging winds. After the storm passes, whether a building...
A Look at Military Veterans’ Earnings, Employment After Active-Duty Service
Nov 11 2021 // New research from RAND Corp. finds that after leaving the service, many veterans earn less money than they did while in active duty. The report, Navigating a Big Transition: Military Service Members’ Earnings and...
FedNat Pulling Out of Louisiana, Texas Amid Heavy Storm Losses
Nov 10 2021 // After two years of heavy storm-related losses, FedNat Insurance is pulling out of the Louisiana and Texas markets and doubling down on its home state of Florida. FedNat announced its decision to exit non-Florida markets...
Allianz Posts Better-Than-Expected Q3 Net Profit as It Emerges From COVID Pressures
Nov 10 2021 // Allianz nudged its forecast for record profit in 2021 even higher on Wednesday after a bumper third quarter while it tries to work out how much money it may need to set aside for a U.S. investigation into its fund...
Top 20 Cyber Insurers in U.S. Including Loss Ratios: NAIC
Nov 9 2021 // The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance Commissioners...
Berkshire Hathaway Insurance Losses Continued in Q3 on Catastrophes, Pandemic
Nov 8 2021 // Overall net income fell at giant Berkshire Hathaway in the third quarter from $30.1 billion a year ago to $10.3 billion this third quarter, reflecting losses on insurance underwriting as well as the continuing effects of...
Kentucky Approves Another Workers’ Comp Loss Cost Decrease
Nov 5 2021 // The Kentucky Department of Insurance has approved another workers’ compensation loss cost decrease for employers in the state. The DOI announced this week that officials have ratified a 10.4% average reduction,...
CNA Boosts Q3 Profit Despite Catastrophes; Sees ‘Favorable’ 2022 Ahead
Nov 3 2021 // Continued rate hikes helped boost CNA Financial’s 2021 third quarter net income, even as the Chicago-based commercial and specialty property/casualty insurer dealt with higher net catastrophe losses and lower net...
Finnish Insurer Sampo Sees 30% Jump in Profit During Q3
Nov 3 2021 // HELSINKI – Finnish insurer Sampo on Wednesday beat expectations with a 30% jump in quarterly core earnings, aided by a strong performance from its main subsidiary If and gains from selling a stake in Finnish Nordea bank...
Insurer Hiscox Sets Aside $150M for Hurricane Ida, European Flood Losses
Nov 2 2021 // Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising...
Business Interruption, Recovery Costs Drive Financial Losses From Cyber Attacks: Report
Nov 1 2021 // During the COVID-19 crisis, global cyber attacks skyrocketed in a digital pandemic driven by ransomware, according to a report published by Allianz Global Corporate & Specialty (AGCS). Further, the report noted,...
Swiss Re Reports Better-Than-Expected Profit Despite Major Claims
Oct 29 2021 // Reinsurance company Swiss Re said on Friday it swung to a better-than-expected net profit in the first nine months as it recovers from the impact of the coronavirus pandemic despite big claims from major storms on both...
Chubb Sees Profit Jump on Premium Growth, Underwriting Income
Oct 27 2021 // Global insurer Chubb’s third quarter net income soared more than 58 percent year-over-year, as premium gains continued their double-digit climb. The insurer’s Q3 net income reached $1.83 billion during the...
Ping An Insurance Profit Falls 31.2% as Returns, Premiums Shrink
Oct 27 2021 // SHANGHAI/BEIJING — Ping An Insurance Group Co of China Ltd., the country’s largest insurer by market value, posted a 31.2% fall in third-quarter net profit on Wednesday as its premium income shrank on a weak...
Insurance Industry Told to Expect Global Average Annual Disaster Loss of $106B: AIR
Oct 26 2021 // The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40% chance of experiencing an annual loss of more than $200 billion in the next decade, according to...
Munich Re Doubles Q3 Profit Despite Big Storm Losses in Europe, U.S.
Oct 20 2021 // German reinsurer Munich Re doubled its profit in the third quarter, despite big losses from storms in Europe and the United States, it said on Tuesday, but left its forecasts for the year unchanged. Profit rose to around...
Unvaccinated Employees Risk Job Losses as Employer Mandates Take Effect
Oct 20 2021 // Thousands of unvaccinated workers across the United States are facing potential job losses as a growing number of states, cities and private companies start to enforce mandates for inoculation against COVID-19. In the...
Higher Investment Returns Help Offset Catastrophe, Auto Losses for Travelers in Q3
Oct 19 2021 // Third quarter profit fell 20% at The Travelers Companies due to higher catastrophe and auto losses but the insurer also reported a 15% boost in investment returns. Net income of $662 million for the third quarter compared...
