All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 23 2020 // The Travelers Companies reported a net loss of $40 million for the quarter ended June 30, 2020, compared to net income of $557 million in the prior year quarter. The insurer said the difference was primarily due to higher...
Jul 23 2020 // Reinsurance company Swiss Re said on Wednesday that claims and reserves of $2.5 billion related to COVID-19 will lead to a net first half loss of about $1.1 billion.The company, which reported the loss ahead of its...
Jul 22 2020 // QBE Insurance Group expects to report a first-half, after-tax loss of around $750 million, mainly due to COVID-19 claims and natural catastrophes, which included Australia’s bushfires and hailstorms at the beginning...
Jul 22 2020 // Larger investment losses and COVID-19 took a substantial bite out of W.R. Berkley’s 2019 second-quarter net income, but the specialty insurer and reinsurer still stayed in the black overall.Net income for the quarter...
Jul 21 2020 // The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that...
Jul 20 2020 // After a profitable 2019, the U.S. personal lines insurance sector is positioned to see underwriting profits in 2020 even with considerable economic uncertainty from the coronavirus pandemic, according to a report from...
Jul 16 2020 // Large shipping losses dropped by 20% last year, in a continuation of decade-long trend when losses declined by almost 70%, according to a report published by Allianz Global Corporate & Specialty (AGCS).However, the...
Jul 15 2020 // Cincinnati Financial Corp. says its consolidated second-quarter results are expected to include pretax catastrophe losses of approximately $231 million – adding 16.5 percentage points to the quarterly combined ratio...
Jul 15 2020 // Arch Capital Group Ltd. has estimated a range of pre-tax catastrophe losses of $205 million to $225 million in the second quarter of 2020 across its property casualty insurance and reinsurance segments.Included in these...
Jul 15 2020 // Autopilot, ProPilot, CoPilot: Automakers have many names for new systems that allow for hands-free driving, but no safety or performance standards to follow as they roll out the most significant changes to vehicle...
Jul 15 2020 // The insured loss from Tropical Storm Fay will be close to $400 million, according to catastrophe risk modeling firm Karen Clark & Company (KCC).KCC said its estimate includes the privately insured wind and storm surge...
Jul 14 2020 // W.R. Berkley Corp. cautioned that its 2020 second quarter pretax catastrophe losses will reach $145 million, with more than half of that coming from COVID-19 related costs.Out of that total, $85 million stems from COVID-19...
Jul 14 2020 // In a preliminary look, The Travelers Companies said it expects to report a net loss for the second quarter, results that will reflect losses from storms, civil unrest and its non-fixed income investment portfolio.It also...
Jul 13 2020 // California workers’ compensation private self-insured claim frequency was relatively stable in 2019 as the incidence of medical-only and lost-time claims registered only marginal declines after increasing in 2017 and...
Jul 13 2020 // As Allianz Global Corporate & Specialty SE (AGCS) executes its plan to regain profitability in the corporate and specialty insurance segment, it is adopting a more simplified regional organization in North America. The...
Jul 10 2020 // The May 2019 tornadoes that ravaged several parts of Missouri caused significant damage to both residential and commercial properties, and resulted in close to $190 million in insured losses, the state Department of...
Jul 9 2020 // Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses quickly—following through on an...
Jul 9 2020 // Analysts have rapidly lifted their earnings forecasts for a global litigation financier on expectations that the pandemic could spark more legal disputes.Forward consensus earnings estimates for Sydney-listed Omni...
Jul 8 2020 // How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already...
Jul 8 2020 // Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new...