Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
XL Catlin Introduces Brexit Continuity Clause to Address Risk of Loss of EU Passporting
Mar 19 2018 // XL Catlin’s London-based insurance operation has introduced a Brexit contract continuity clause. The clause addresses the risk that contracts written by XL’s London-based entities prior to Brexit may become...
Buyers Aren’t Happy With Their Cyber Insurance: J.D. Power
Mar 19 2018 // On any given day, it is hard not to read an article or report on some type of cyber topic. Cyber insurance is one of the key concerns within the insurance industry today and possibly one of the most misunderstood. In late...
Private Flood Insurance Market Is Getting Bigger, More Competitive, Less Profitable
Mar 18 2018 // The U.S. market for privately written flood insurance grew by 51.2 percent last year, with state-level markets growing both more competitive and less profitable, according to 2017 statutory insurance filings compiled by...
Uber, Lyft and New York Loss Transfer
Mar 13 2018 // Ridesharing has officially arrived in New York, and confusion over New York no-fault insurance and PIP Loss Transfer has arrived with it. On June 29, 2017, the New York State Assembly approved and Governor Andrew Cuomo...
PERILS Revises Loss Estimate for Europe’s Windstorm Zeus to €272M ($335.1M)
Mar 6 2018 // The final estimate of insured property market losses for extratropical cyclone Zeus, which mainly hit France last year on March 6-7, have been revised to €272 million (US$335.1 million), according to PERILS, the...
U.S. Supreme Rules Against Insurer’s Appeal Challenging Profits in Rate Setting
Mar 5 2018 // The U.S. Supreme Court in late February declined to hear Mercury Insurance Co.’s appeal to overturn a February 2017 California Court of Appeal ruling that held Insurance Commissioner Dave Jones’ 2013 order...
Nevada OK’s Filings for Moderate Workers’ Comp Loss-Cost and Assigned-Risk Rate Changes
Mar 1 2018 // Nevada Insurance Commissioner Barbara D. Richardson approved a slight decrease in workers’ compensation voluntary insurance loss costs and average increase for assigned-risk rates. Richardson approved two filings...
UAE-Based Cyber Security Firm DarkMatter Doubles Revenue in 2017 to $400M
Mar 1 2018 // DarkMatter, a three year-old United Arab Emirates-based cyber security firm, has more than doubled revenue last year to over $400 million. The firm, which earns about 80 percent of its revenue from U.A.E. government...
Liberty Mutual Net Income Fell in 2017 Due to Catastrophes, Commercial Auto, Taxes
Feb 28 2018 // Liberty Mutual reported $17 million in net income for 2017, down substantially from more than $1 billion in 2016. The insurer pointed to catastrophe losses, adverse development in its commercial automobile business and a...
PERILS Releases Final Loss Estimate of €248M for Cyclone Thomas/Doris
Feb 27 2018 // Extratropical cyclone Thomas, also known as Doris in the UK and Ireland, had an insured price tag of €248 million ($305.4 million), according to PERILS, the independent Zurich-based organization that provides...
Berkshire’s 14-Year Insurance Win Streak Comes to an End
Feb 26 2018 // Warren Buffett’s Berkshire Hathaway’s combination of insurance entities have recorded 14 consecutive years of underwriting profit worth more than $28 billion. The Oracle from Omaha has repeatedly warned his...
UK’s RSA Insurance Posts Above-Forecast Profit of $920.2M in 2017
Feb 22 2018 // Even higher payouts for RSA shareholders are likely in 2018, chief executive Stephen Hester said on Thursday after the company posted an above-forecast 2017 operating profit and boosted its dividend by 23 percent. Analysts...
AXA Posts Higher-Than-Expected $7.6B Profit, Ahead of U.S. IPO
Feb 22 2018 // French insurer AXA posted higher-than-expected 2017 net profits and stronger earnings in the United States, ahead of the planned flotation of its American life insurance and asset management businesses in the second...
U.S. Supreme Rules Against Insurer’s Appeal Challenging Profits in Rate Setting
Feb 20 2018 // The U.S. Supreme Court on Tuesday declined to hear Mercury Insurance Co.’s appeal to overturn a February 2017 California Court of Appeal ruling that held Insurance Commissioner Dave Jones’ 2013 order requiring...
Israeli Firm Among Those Seeing Profit in Telematics Data
Feb 20 2018 // The road to profits is paved with good data. Every hour, a modern car processes about 25 gigabytes of information — the equivalent of about seven full-length high-definition movies — on everything from engine...
South Carolina Notifies Insurers of Workers’ Comp Loss Cost Updates, Filing Requirements
Feb 19 2018 // South Carolina has alerted insurers of several changes to loss costs for the state’s voluntary and assigned risk workers’ compensation markets and has issued a requirement that updated loss cost multipliers be...
What’s Inflating Agribusiness Insurance Costs?
Feb 19 2018 // By Joe Dunn, Angel Mendez, and Scott W. Dunn Agribusiness clients are acutely aware of the high premiums they pay for workers’ compensation, premises liability, health insurance and the steps they can take to...
Impact of New Tax Law on Agency Profitability
Feb 19 2018 // With the passing of the Tax Cuts & Jobs Act of 2017 (TCJA), there is quite a lot of talk about how it will impact businesses, what businesses are doing with any additional monies, as well as what happens to...
TDI: Nearly 670K Property Insurance Claims Generated in Texas by Hurricane Harvey
Feb 19 2018 // Hurricane Harvey resulted in nearly 670,000 in combined personal and commercial property insurance claims to private insurers, the Texas Windstorm Insurance Association (TWIA) and the Texas Fair Access to Insurance...
Allianz Reports 22% Drop in Q4 Profit but Still Plans Dividend Hike
Feb 16 2018 // A record year for natural-disaster insurance claims worldwide and a decline in fourth quarter profit wasn’t enough to stop Allianz SE from raising its dividend. Europe’s biggest insurer will increase the...
