All the headlines from our Profit Loss Topic Page, ordered by recency.
May 5 2020 // Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment...
May 4 2020 // Berkshire Hathaway’s property/casualty insurance and reinsurance businesses reported a first quarter underwriting profit of $747 million before taxes, nearly double the pretax underwriting profit of $377 million...
May 4 2020 // The Hartford’s 2020 first-quarter numbers are yet another example of the coronavirus pandemic not yet affecting underwriting results in a major way. But net income took a big hit.First-quarter net income came in at...
May 1 2020 // DeRidder, Louisiana-based workers’ compensation insurance company, Amerisafe Inc., has reported a first quarter profit of $10.8 million.The company posted revenue of $79.2 million in the period; adjusted revenue was...
May 1 2020 // Willis Towers Watson is withdrawing its 2020 guidance due to the uncertainties caused by the COVID-19 pandemic.The broker said it will re-assess the guidance once it has a clearer understanding of the depth, duration, and...
May 1 2020 // In a case where no insurance company or insurance claim was involved, the Pennsylvania Supreme Court issued a ruling that could potentially negate one of the insurance industry’s standard bases for denial of coverage...
May 1 2020 // Allianz SE withdrew its forecast for the year as Europe’s biggest insurer struggles with the fallout from the Covid-19 pandemic.Given the economic uncertainty, the board “does not assume that Allianz can...
Apr 30 2020 // Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential losses.The holding...
Apr 30 2020 // Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus outbreak began to bite, it said on Thursday.The Zurich-based company booked a hit of $476 million for anticipated and...
Apr 28 2020 // Global insurer Liberty Mutual said the COVID-19 pandemic is likely to have the most impact on its first quarter investment portfolio results, with its business in trade credit, general liability, workers compensation, and...
Apr 28 2020 // Insurance agency Brown & Brown saw revenues and net income increase in the first quarter, even after accounting for expected lower revenues on existing employee benefits and workers’ compensation policies and...
Apr 28 2020 // Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000 pounds ($123,460.00) to cover losses during the coronavirus lockdown. Now he fears for the future as he...
Apr 27 2020 // Two groups of plaintiffs — one in Philadelphia, the other in Chicago — are asking federal courts to consolidate lawsuits filed by businesses that are seeking coverage for business-interruption losses they claim are...
Apr 24 2020 // Randall & Quilter Investment Holdings Ltd. announced it has entered into a loss portfolio transfer reinsurance contract and a transfer agreement with Repwest Insurance Co. Repwest is based in Phoenix Ariz., and is a...
Apr 24 2020 // Everest Re Group estimated pre-tax losses of $150 million during the first quarter from claims related to the coronavirus pandemic.The company expects that the majority of pandemic losses will come from the Reinsurance...
Apr 23 2020 // Ping An Insurance (Group) Co of China Ltd, on Thursday reported a 42.7% drop in first-quarter profit, its biggest fall in quarterly profits in more than eight years, as the coronavirus outbreak disrupted its...
Apr 23 2020 // During an earnings conference call Tuesday, the leader of Travelers insurance alerted listeners to the possibility that frivolous lawsuits by plaintiffs lawyers could slow down the economic recovery from COVID-19...
Apr 22 2020 // If it lasts, this week’s plunge in oil prices could hit the Texas economy in ways that make it much harder for state and local governments to help the state’s residents.It’s part of a double whammy on the...
Apr 22 2020 // COVID-19 has majorly disrupted the global economy, and while many business sectors are subjected to temporary shutdowns or bare minimum operations, the insurance industry is racing forward while confronting unprecedented...
Apr 22 2020 // Chubb said that the coronavirus pandemic’s effects on its bottom line were relatively benign in the 2020 first quarter. But all bets are off for the months ahead.The global property/casualty insurer reported net...