Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurers Face Minimal Losses from Peru and Ecuador Earthquake: A.M. Best
May 29 2019 // A.M. Best said it does not foresee a major impact to the domestic insurance markets in Peru or Ecuador following a significant earthquake centered in Peru that also affected several provinces in neighboring Ecuador. On May...
Cyber MGU At-Bay Launches Excess Policy for High Revenue Clients
May 29 2019 // Cyber insurance MGU At-Bay has launched an excess cyber insurance policy for clients with up to $5 billion in annual revenue, with available limits up to $10 million. At-Bay developed this product to fulfill broker demand...
Issuer Credit Rating Outlook Revised to Stable for Church Mutual Insurance Group
May 28 2019 // AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” of...
P/C Insurance Industry’s Net Underwriting Income Up 24% in Q1, Reports A.M. Best
May 21 2019 // The U.S. property/casualty industry posted net underwriting income of $4.2 billion in first-quarter 2019, a 24.0% increase from the same period in the previous year, according to preliminary financial results. According to...
Generali’s Net Profit Rises 28% in First Quarter, Boosted by Asset Sales
May 16 2019 // Generali, Italy’s biggest insurer, reported a larger-than-expected 28 percent rise in first-quarter net profit helped by asset sales, though capital ratios fell due to regulatory changes. Generali’s solvency...
Allianz Posts Q1 Net Profit of $2.21B, a Small Rise from Q1 2018
May 14 2019 // German insurer Allianz SE on Tuesday posted a small rise in net profit in the first quarter from a year earlier, marginally ahead of expectations, and confirmed its targets for 2019. Results were helped by lower claims...
Loss Estimate for Australia’s Townsville Flood Rises to A$1.041 Billion: PERILS
May 10 2019 // Insured property losses for floods that affected northern Queensland, Australia, and in particular the city of Townsville, have risen to A$1.041 billion ($727 million), according to PERILS, the independent Zurich-based...
Liberty Mutual Q1 Saw Better Underwriting Results, Strong Specialty Insurance
May 9 2019 // Liberty Mutual Holding Co. Inc. and its subsidiaries reported net income of $671 million for the three months ended March 31, 2019, an increase of $23 million or 3.5% over the same period in 2018. Consolidated net income...
Insured Losses from November 2018 California Wildfires Top $12B
May 8 2019 // Insured losses from the most destructive wildfire month in California’s history climbed $614 million in the first three months of the year, pushing total claims over $12 billion as of April, the California Department...
Munich Re’s Q1 Profit Drops 23.5% on Higher Claims Payments from Previous Years
May 8 2019 // German reinsurer Munich Re reported a 23.5 percent decrease in its first quarter net profit to €633 million ($708.6 million) from €827 million ($925.7 million) in Q1 2018. The world’s largest reinsurer blamed the...
GEICO Helps Boost Berkshire Hathaway’s Q1 Profit
May 7 2019 // Berkshire Hathaway Inc. on Saturday said gains in its stock investments were behind its good first-quarter profit. Better results from its GEICO auto insurer and BNSF railroad units boosted operating results. The...
Going to Court Over Losses When Robot Is to Blame
May 7 2019 // Robots are getting more humanoid every day, but they still can’t be sued. So a Hong Kong tycoon is doing the next best thing. He’s going after the salesman who persuaded him to entrust a chunk of his fortune to...
AIG Scores P/C Insurance Profit in Q1
May 7 2019 // Insurer American International Group Inc. reported first-quarter earnings that trounced Wall Street estimates on Monday, as its general insurance business posted its first underwriting profit since the financial...
Buffett Has Eyes on Competitor Progressive, Not Car Makers Entering Insurance
May 7 2019 // Berkshire Hathaway Chair Warren Buffett said he isn’t worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product than traditional...
Swiss Re: Insurance Industry Must Wake Up to Costs of ‘Secondary’ Catastrophe Perils
May 6 2019 // The insurance industry must wake up to the growing cost of “secondary” catastrophe perils, which amounted to more than 60 percent of the $76 billion price tag for insured natural catastrophe losses during 2018,...
PG&E in California 1Q Earnings Beat Wall Street Expectations, Profit of $136M
May 3 2019 // Pacific Gas & Electric Co.on Thursday reported first-quarter profit of $136 million. The San Francisco, Calif.-based company said it had profit of 25 cents per share. Earnings, adjusted for non-recurring costs, were...
Swiss Re’s Q1 Profit of $429M Hit by Natural Catastrophes, Boeing Crash
May 3 2019 // Reinsurer Swiss Re AG’s reported an unexpected 6 percent fall in quarterly net profit on Friday as claims from large losses offset higher net premiums and a solid return on investments. Net profit came in at $429...
Chubb’s Q1 Net Income Dips Slightly but Commercial Insurance Produces Gains
May 2 2019 // Chubb saw its net income dip slightly in the 2019 first quarter, though commercial and other insurance premiums rose at a healthy clip. The insurance giant’s property/casualty combined ratio also improved, and...
Owners Project Stop & Shop Strike Cost Company About $100M in Losses
May 2 2019 // The owners of New England’s largest supermarket chain are projecting around $100 million in losses from the labor strike that ended Easter Sunday. Ahold Delhaize, the Dutch company that owns Stop & Shop, said the...
Losses from Cryptocurrency Thefts, Fraud Surged to $1.2 Billion in Q1: Report
May 1 2019 // Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cyber-security firm CipherTrace...
