All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 31 2020 // Reinsurance company Swiss Re said on Friday the $2.5 billion in claims and reserves related to COVID-19 that it booked in the first half of the year would likely cover the bulk of its pandemic-related losses.The...
Jul 30 2020 // Catastrophe risk products and services company, Risk Management Solutions Inc. (RMS), has estimated that insurance losses in the U.S. from Hurricane Hanna will not exceed $400 million. This estimate represents insured...
Jul 30 2020 // The pending acquisition by insurance broker Aon of rival Willis Towers Watson is “not good for the market or for clients but is good for Marsh & McLennan,” commented Daniel Glaser, president and chief...
Jul 30 2020 // Generali’s first half net profit dropped by 56.7% to €774 million ($909.8 million), compared with €1.8 billion (US$2.1 billion) reported for the same period in 2019.The combined ratio improved to 89.5% (91.8% in...
Jul 29 2020 // The Hanover Insurance Group Inc. reported net income of $115.2 million in the second quarter of 2020, compared to $74.0 million in the prior-year quarter.The insurer said it has experienced limited COVID-19-related loss...
Jul 29 2020 // The coronavirus pandemic has forced global insurer Chubb’s net income to plunge, and in the second quarter, fall to a sizable loss.Chubb lost $331 million compared to net income of more than $1.1 billion during the...
Jul 28 2020 // Catastrophe risk modeling firm, Karen Clark & Company (KCC) has estimated the insured loss from Hurricane Hanna, which made landfall on Padre Island, Texas, on July 26, will be close to $350 million, excluding National...
Jul 24 2020 // Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural...
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural catastrophe.The...
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...