All the headlines from our Profit Loss Topic Page, ordered by recency.
Feb 9 2024 // The economic losses from the latest round of California storms will be significant, with many of these losses may not be insured because only 2% of California residents have purchased flood insurance, David Blades,...
Feb 9 2024 // Fourth quarter net income at CNA Financial Corp. was up about 54% to $367 million, and net income for the year increased 77% to a record $1.2 billion.CNA said its property/casualty segments recorded net premium growth...
Feb 8 2024 // Allstate Corp. fourth quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year.Allstate CEO Tom Wilson said “improved...
Feb 6 2024 // A new report warns insurance companies could face billions of dollars in losses if they stay on the current course of investments that contribute to climate change, at “a scale exceeding some of the worst wildfires...
Feb 5 2024 // The preliminary total damage and economic loss from the intense storms and record rainfall in California this week will be between $9 billion and $11 billion, according to AccuWeather estimates released on Monday.The...
Feb 5 2024 // Not all analysts think an underwriting profit is out of reach for 2024.While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, a report by Swiss Re Institute projects both 2024 and 2025 to have a...
Feb 5 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time in 2022, to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
Feb 5 2024 // Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion,...
Feb 2 2024 // U.S. safety regulators have upgraded their probe into Tesla TSLA.O vehicles over power steering loss to an engineering analysis – a required step before the agency could demand a potential recall.The National Highway...
Feb 2 2024 // The Hartford said fourth quarter net income available to common stockholders increased 30% to $766 million. The insurer ended the year with net income up 38% to about $2.5 billion.Commercial lines record fourth quarter...
Jan 30 2024 // San Francisco, California-based Resilience expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. The company reported that its expanded authorities come after a...
Jan 29 2024 // Broker WTW said it has launched a cyber solution specifically for business with annual revenue under $50 million, including startups and pre-revenue accounts. This tailored solution for small- and medium-sized enterprises...
Jan 24 2024 // Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase.The Greenwich,...
Jan 24 2024 // Progressive Corp. today said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period.The Mayfield Village, Ohio-based insurer reported some quarterly and...
Jan 24 2024 // Workers’ compensation loss costs in Tennessee will drop an average of 9.4% for the voluntary market starting March 1, marking the 11th straight decrease for the state.The decrease follows declines of 10.2% in 2023...
Jan 23 2024 // Insurance brokerage Brown & Brown reported an 85% surge in fourth-quarter profit to $268.6 million on Monday, helped by higher commissions and fees alongside better investment returns.The insurance industry typically...
Jan 22 2024 // For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year.The calculus around natural disasters such as hurricanes and cyclones fed record gains at funds...
Jan 19 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time last year to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
Jan 19 2024 // Not all analysts think an underwriting profit is out of reach for 2024.While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, an improvement from 2023, a report by Swiss Re Institute projects...
Jan 18 2024 // Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion,...