All the headlines from our Profit Loss Topic Page, ordered by recency.
Feb 13 2020 // Argo Group International Holdings Ltd. is warning that its 2019 fourth quarter will feature some “unacceptable” results, particularly a $114 million underwriting loss. Separately, there are also added expenses...
Feb 11 2020 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed its fourth and final property loss estimate for the flood event which hit northern Queensland,...
Feb 11 2020 // Mercury General Corp. on Monday reported fourth-quarter profit of $31.7 million.On a per-share basis, the Los Angeles-based company said it had profit of 57 cents. Earnings, adjusted for investment gains, came to 21 cents...
Feb 11 2020 // Fires and floods are sending some of the nation’s largest utilities to the bond market to cover huge, unexpected bills. California’s PG&E Corp., which was forced into bankruptcy a year ago after its...
Feb 11 2020 // Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While...
Feb 10 2020 // The Insurance Council of Australia (ICA) has declared a catastrophe for property losses caused by storms and flooding along the east coast since February 5.Insurers said they have received 10,000 claims with the value of...
Feb 10 2020 // Although workers’ compensation results remain strong — and the line continues to outperform all other commercial insurance lines — worries about continued soft pricing and loss reserve levels for...
Feb 10 2020 // The task of insuring nonprofit organizations is a complex one and agents, brokers, underwriters and carrier representatives say that in order to fully serve those entities that serve our communities in myriad ways,...
Feb 5 2020 // The Hartford closed out 2019 with gains in net income and net investment income, buttressed in part by its $2.1 billion acquisition of specialty insurer Navigators Group last May.Net income hit $543 million, or $1.49 per...
Feb 4 2020 // Rating firm AM Best said it expects that China’s non-life insurance market will experience limited losses from the ongoing coronavirus outbreak.The analysts based their outlook on factors including the central...
Jan 31 2020 // W.R. Berkley Corp. reported that its gross premiums written grew by more than 10 percent in the 2019 fourth quarter, thanks in part to accelerated rate increases.But net income dipped compared to the same period a year...
Jan 30 2020 // State Auto Property and Casualty Insurance Co. is liable for the cost of replacing a computer server that was damaged and perhaps permanently compromised by a ransomware attack despite the carrier’s argument that the...
Jan 30 2020 // The Texas Department of Insurance is moving oversight of insurer loss control inspections to Market Conduct Examinations in the Financial Regulation Division.This is part of the agency’s efforts to strategically...
Jan 27 2020 // Australian insurers are well-capitalized and should be able to withstand losses from the 2019/2020 bushfire season, aided by strong capital positions and support from reinsurance partners, said AM Best.The ratings agency...
Jan 27 2020 // Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout...
Jan 24 2020 // Although workers’ compensation results remain strong—and the line continues to outperform all other commercial insurance lines—worries about continued soft pricing and loss reserve levels for workers’...
Jan 24 2020 // The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday (Jan....
Jan 23 2020 // Insured losses from major natural catastrophes in 2019 totaled roughly $53.0 billion, about 18% lower than the annual average since 2011, according to a report from Willis Re.This figure compares with Aon’s recently...
Jan 23 2020 // Strong quarterly and full year 2019 results for Travelers Cos. were helped by lower catastrophe losses and premium hikes.Net income rose to $873 million in the fourth quarter ended Dec. 31 from $621 million for the same...
Jan 23 2020 // Munich Re is considering whether to set itself a long-term net income target of 3 billion euros ($3.3 billion) a year as the company seeks to match levels it regularly achieved until 2015.The reinsurer may announce such a...