Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
MMC Q2 Revenue Up 20%; Marsh Up 23%
Jul 22 2021 // Global insurance and professional services firm Marsh McLennan (MMC) reported financial results for the second quarter ended June 30, 2021, including consolidated revenue of 2021 of $5.0 billion, an increase of 20%...
California Workers’ Comp Report: Private Self-Insured Indemnity Claim Frequency, Paid & Incurred Losses Spiked in 2020
Jul 21 2021 // Workers’ comp claim frequency among California’s private self-insured employers rose in 2020, fueled by a big increase in the incidence of indemnity claims, offsetting a decline in medical-only claim frequency,...
First Half Insured Losses From Natural Disasters Reach 10-Year High
Jul 21 2021 // Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on...
Munich Re Reports Q2 Profit Increase of 90%
Jul 21 2021 // Munich Re’s net profit in the second quarter rose around 90% from a year earlier, beating expectations and giving it confidence of meeting its 2021 profit target. The German reinsurer said in an unscheduled...
Travelers’ Q2 Profit Boosted by Higher Premiums, Lower Catastrophe Losses
Jul 20 2021 // U.S. property and casualty insurer Travelers Cos .Inc. delivered an unusually large beat of second-quarter profit expectations on Tuesday, helped by higher premiums, lower catastrophe losses and a surge in returns from...
German Floods Will Be Expensive but Unlikely to Burn Through Insurers’ Earnings: Fitch
Jul 20 2021 // The recent severe floods in Germany could add up to 5 percentage points to German non-life insurers’ net combined ratios (net claims and expenses to net premiums), according to Fitch Ratings. The insured losses are...
Hurricane Elsa Insured Loss Estimated To Be $290 Million
Jul 14 2021 // Total estimated insured losses on land from Hurricane Elsa will be around $290 million. About $240 million of that was from wind and storm surge in the U.S., while the Caribbean islands suffered about $50 million,...
Michigan Reminds Insurers: ‘Zero-Dollar Claim’ Is Not a Loss
Jul 5 2021 // Michigan insurance regulators in a June 15 bulletin reminded property/casualty insurance companies that relying on a “zero-dollar claim” in their insureds’ loss history is not allowed. In Bulletin...
Why Flood Should be a Covered Cause of Loss in Property Insurance
Jul 5 2021 // There’s something fun about contemplating flood insurance while the ground outside the office is so saturated that it’s like walking on sponges. No. We aren’t having a flood event and even if we were,...
California Workers’ Comp Insurer Losses and Expenses $12B for 2020
Jun 29 2021 // The Workers’ Compensation Insurance Rating Bureau of California has released its latest report on workers’ comp losses and expenses for 2020. Key findings in the report, 2020 California Workers’...
Swiss Re’s iptiQ and German Real Estate Platform Launch Digital Loss-of-Rent Cover
Jun 29 2021 // Swiss Re’s iptiQ and ImmoScout24, Germany’s leading online real estate platform, are launching a loss-of-rent insurance product, which provides private landlords with protection against the financial...
Insured Losses for March’s New South Wales, Queensland Floods Estimated at A$916M
Jun 28 2021 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, disclosed its second industry loss estimate for the New South Wales and Queensland floods, which occurred in March...
Hiscox Agrees to Arbitration Settlement with UK Policyholders over COVID-19 BI Losses
Jun 28 2021 // Hiscox has agreed an arbitration settlement with a group of policyholders over business interruption losses due to the government’s COVID-19 lockdown last year, the Lloyd’s of London insurer said on...
Europe’s Insurers Expect Robust M&A Activity and Strong Earnings in 2021: Moody’s
Jun 22 2021 // Europe’s insurance industry is emerging from the coronavirus crisis with a stronger appetite for mergers and acquisitions (M&A), along with expectations for strong earnings growth in 2021, according to...
Connecticut Casinos Sue Insurer Over COVID-19 Losses
Jun 21 2021 // The Native American tribe that owns Connecticut’s Mohegan Sun casino is suing its insurance carrier over what it says was the denial of claims for millions of dollars in losses caused by the COVID-19 pandemic. The...
Workers’ Compensation Profit Picture Looks Good in Short Term: Fitch
Jun 21 2021 // With favorable results driven by recent reductions in claims frequency and further recognition of material reserve redundancies, workers’ compensation underwriting performance is expected to remain strong in 2021,...
P/C Insurers’ Underwriting Income Fell 53% in First Quarter: AM Best
Jun 21 2021 // The U.S. property/casualty industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM Best. Increased...
French Chef Seeks $1.9M from Allianz for Biz Income Losses During COVID Lockdowns
Jun 17 2021 // A French Michelin three-star chef is asking Allianz SE for 1.6 million euros ($1.9 million) in insurance claims for losses suffered by his restaurants during the country’s lockdowns, a person familiar with the matter...
Michigan to Insurers: Zero-Dollar Claim Is Not a Loss
Jun 16 2021 // Michigan insurance regulators are reminding property/casualty insurers that relying on “zero-dollar claim” in their insureds’ loss history is not allowed. In Bulletin 2021-27-INS, issued by Michigan...
Workers’ Compensation Profit Picture Looks Good in Short Term: Fitch
Jun 15 2021 // With favorable results driven by recent reductions in claims frequency and further recognition of material reserve redundancies, workers’ compensation underwriting performance is expected to remain strong in 2021,...
