Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Modeler: Insured Losses from Camp Wildfire in California at $6B to $9B
Dec 6 2018 // Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between $6 billion and $9 billion, and taken together with the Woolsey fire in Southern...
Farmers Expects $2.1B in Claims from California Wildfires
Dec 5 2018 // Farmers Insurance expects $2.1 billion in claims from the California wildfires in November. The Los Angeles, Calif.-based carrier said it has so far received more than 9,000 claims combined for the Camp Fire in Northern...
Fraud Forces Minnesota Agribusiness Giant CHS to Lower 5 Years of Profit
Dec 5 2018 // Inver Grove Heights, Minnesota-based CHS Inc. has lowered five years of profits by nearly $158 million as the global grain, energy and food company recovers after a freight trader falsified records. The farmer-owned...
How Insurance Broker A.J Gallagher Cleans Up on Clean Coal Subsidies: Reuters
Dec 5 2018 // Earlier this year, the chief financial officer of global insurance giant Arthur J. Gallagher & Co. explained to analysts how the company had turned a little-known U.S. energy subsidy into a profit machine, worth...
9 Month Results Show U.S. P/C Insurance Pivot to Big Profit: A.M. Best
Dec 3 2018 // The U.S. property/casualty insurance industry’s net underwriting income has so far swung from a massive loss in 2017 to substantial profit, according to an A.M. Best report. Carriers booked $3.5 billion in net...
Modeler: Insured Losses from Woolsey Fire in Southern California at Least $2.5B
Nov 30 2018 // Catastrophe risk modeling firm AIR Worldwide on Friday said it estimates that insured losses from the Woolsey Fire in Southern California will be at least $2.5 billion. Moody’s on Thursday released estimates showing...
Moody’s Says California Wildfire Losses Will Impact P/C Insurer, Reinsurer 4Q Earnings
Nov 29 2018 // Moody’s has released estimates showing property/casualty insurers and reinsurers total insured losses at $10 billion $15 billion from the California wildfires, which destroyed more than 20,000 residential and...
Update: AXA Expects Profits to Be Boosted by Its $15 Billion XL Deal
Nov 28 2018 // AXA, Europe’s second-biggest insurer, expects its profitability to improve in the next two years thanks to U.S. business brought in by its new XL arm, and said it would now focus on expanding in Asia. The French...
Report Puts Losses from California Wildfires at $15B to $19B
Nov 27 2018 // Total losses from the wildfires in Northern and Southern California could reach from $15 billion to $19 billion, a report out on Tuesday shows. The report from industry data provider CoreLogic shows total losses from the...
Latest Estimates of Insured Losses from California Wildfires at $9B to $13B
Nov 19 2018 // Insured losses from the Camp and Woolsey wildfires in California will be between $9 billion and $13 billion, according to the latest estimates from catastrophe modeler RMS. RMS’ latest estimates released on Monday...
Medical Professional Liability Insurers Post Underwriting Loss Again
Nov 19 2018 // U.S. medical professional liability insurers reported an underwriting loss again last year, according to Fitch Ratings in a new report that says the results are drawing more scrutiny around reserves that are shrinking. For...
Preparing to Sell the Agency
Nov 19 2018 // There seems to be an insatiable frenzy of agency acquisitions for many years now, with private equity firms and publicly traded brokers taking the lion’s share. These well-funded buyers are paying a premium well over...
S&P Says Insurers and Reinsurers Can Absorb Losses from California Wildfires
Nov 16 2018 // S&P Global Ratings expects both the primary insurers and reinsurers to be able to absorb losses from the California wildfires, limiting them to an earnings event. However, the mounting bills from more frequents large...
U.S. Multinationals Flee No-Tax Caribbean Havens, in Favor of Low-Tax Havens
Nov 15 2018 // Many U.S. multinational corporations have packed up or are choosing to open subsidiaries in low-tax, rather than no-tax, countries that are seen as more legitimate than the formerly popular island destinations of the...
California Wildfire Insured Losses at Billions of Dollars and Climbing
Nov 12 2018 // An analysis by catastrophe modeler RMS shows 15 wildfires are burning more than 280,000 acres in California have collectively destroyed nearly 7,000 homes and businesses and killed 31 people. Roughly 300,000 have been...
AXIS Capital Estimates 4Q Losses from Hurricane Michael
Nov 9 2018 // AXIS Capital Holdings Ltd. announced a preliminary pre-tax loss estimate for Hurricane Michael in the range of $100 million to $120 million, which will affect its fourth quarter financial results. The loss estimate figure...
Allianz’ Q3 Net Profit Surges 24% to €1.94B (US$2.2B)
Nov 9 2018 // Allianz is “highly likely” to reach the upper half of its 2018 profit target range, Chief Financial Officer Giulio Terzariol said as the German insurer cited lower costs and claims in its third quarter results...
Can Commercial Auto Insurers Get to Profit Before Autonomous Vehicles Arrive?
Nov 9 2018 // Commercial auto insurance hasn’t produced an industrywide combined ratio below 105 in the United States since 2010, according to a Guy Carpenter analysis, which says the line’s poor performance is a key factor...
Tallying Losses from October’s Global Catastrophes
Nov 8 2018 // October was a deadly and costly month due to natural catastrophes, with the the U.S. and Europe being hit particularly hard, according to Aon’s Impact Forecasting. Total U.S. economic losses from October’s...
Generali’s 9-Month Net Profit Rises 27% to $2 Billion
Nov 8 2018 // Italy’s top insurer Generali said on Thursday its net profit in the first nine months of the year rose 26.8 percent to beat expectations, lifted by stronger life premiums and disposals. Net profit reached 1.86...
