All the headlines from our Profit Loss Topic Page, ordered by recency.
Mar 11 2024 // AUSTIN, TX., March 11, 2024 — The National Alliance for Insurance Education & Research, a leader in risk management and insurance education, announces the release of Allibot, an advanced Artificial Intelligence...
Mar 8 2024 // Although Liberty Mutual reported worse underwriting results and lower net income in 2023 compared to the prior year, executives pointed to the momentum of the final quarter as an indicator of what’s ahead.“We...
Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...
Mar 4 2024 // The auto insurance market is tough and varied. Totaled auto losses are up, down or relatively stable, depending on the data source.Ever since the personal auto segment recorded a combined ratio of 112 in 2022 – a figure...
Mar 1 2024 // Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year.The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year,...
Mar 1 2024 // A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023.The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion...
Feb 29 2024 // Fitch Ratings said it expects underwriting results for U.S. personal auto insurer to continue to improve this year but the pace to profitability will vary.Auto insurers Progressive and GEICO were the only two of 10...
Feb 28 2024 // A coal company owned by West Virginia’s governor has been found in contempt of court and must face fines of $2,500 a day until it pays its contractual obligations to its workers’ compensation insurance carrier,...
Feb 26 2024 // Verisk Analytics forecast 2024 adjusted profit below market estimates last Wednesday, as the broader data and analytics industry grapples with worries that an uncertain economy would potentially trigger spending cutbacks...
Feb 26 2024 // Even though Berkshire Hathaway’s latest annual report featured Warren Buffett’s forecast that the days of “eye-popping performance” for the giant conglomerate are over, readers focused on...
Feb 22 2024 // Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million.Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and...
Feb 22 2024 // Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of a global pandemic, wars...
Feb 22 2024 // France’s AXA, Europe’s second-biggest insurer, pledged on Thursday to deliver higher earnings and returns to shareholders by 2026 by growing its client base, automating processes and reducing labor costs.The...
Feb 19 2024 // Insurance agency employees and producers on average made more money in 2023 but, overall, employees reported lower satisfaction with their compensation than in 2022, a year when overall satisfaction rose, according to the...
Feb 15 2024 // Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million.The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low...
Feb 14 2024 // Utility firm Hawaiian Electric HE.Nrestored power on Hawaii Island after it had begun rolling outages on Tuesday due to the unavailability and reduced output from several large generators.“No more rolling outages...
Feb 14 2024 // American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior...
Feb 12 2024 // Hewlett-Packard lost more than $4 billion over its acquisition of British software firm Autonomy because of an elaborate fraud masterminded by its co-founder Mike Lynch to inflate the company’s value, HP’s...
Feb 12 2024 // Consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark, and a 14% increase over reported losses in 2022, newly released Federal Trade...
Feb 12 2024 // Every year, mammals, birds, fish and insects make epic migrations between habitats. The humpback whale, famously, can travel 5,000 miles in a trip.But because these animals cross national borders and frequently congregate...