All the headlines from our Profit Loss Topic Page, ordered by recency.
Nov 14 2024 // Texas’s worker’s compensation market is stable and steadily growing.The workers’ compensation market is one of the few consistently profitable lines in the state, according to the Worker’s...
Nov 14 2024 // After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024.Despite targeted underwriting initiatives, including...
Nov 7 2024 // Liberty Mutual Holding Company said consolidated third quarter net income more than quadrupled to $897 million compared to $215 million during the same period a year ago.Catastrophe losses remained elevated at nearly $1.1...
Nov 7 2024 // Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural...
Nov 7 2024 // Swiss Re AG said it was raising reserves in its US Property & Casualty business by $2.4 billion in the third quarter, a move analysts said was positive despite a resulting downgrade to full-year profit...
Nov 6 2024 // American International Group CEO Peter Zaffino said he expects the reinsurance market’s attachment points to remain on top of losses generated by the frequency and severity of natural catastrophes.Losses will instead...
Nov 5 2024 // The National Highway Traffic Safety Administration said on Monday it has closed a probe into 411,000 Ford SUVs and pickup trucks over a potentially defective engine that could lose power without warning.In July 2022, the...
Nov 5 2024 // American International Group saw third quarter underwriting income in its general insurance segment fall 28% to $437 million due to higher catastrophe losses and lower favorable development on prior year reserves.The...
Nov 4 2024 // Third quarter underwriting income with Berkshire Hathaway’s insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases in losses from...
Nov 4 2024 // A recent photograph of destruction left by Hurricane Milton’s wind tells the story: An entire roof section on a residential complex in Bradenton, Florida – including rafters and ceiling joists – was ripped off,...
Nov 4 2024 // Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report.The total economic loss...
Oct 31 2024 // Insurtech Lemonade reported a third quarter 20243 net loss of nearly $68 million and a year-to-date loss of $172.2 million.Results were in comparison to a net loss of $61.5 during the same quarter and a loss of $194.5 as...
Oct 31 2024 // For the first time in the company’s history, Root Inc. recorded a quarterly net income profit.The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net income of about $23...
Oct 31 2024 // Allstate Corp. said its net income attributable to common shareholders for the third quarter was about $1.2 billion compared to a loss of $41 million during the same time a year ago.The Northbrook, Illinois-based insurer...
Oct 29 2024 // Chubb recorded an 11.7% increase in P/C underwriting income with a combined ratio of 87.7 as part of third quarter net income of about $2.2 billion, up 13.8%CEO Evan G. Greenberg said the Whitehouse Station, New...
Oct 29 2024 // The third quarter of 2024 saw a significant number of natural disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of at least $102 billion, according to Aon plc in its...
Oct 28 2024 // Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton.Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information...
Oct 28 2024 // Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net...
Oct 25 2024 // Third quarter 2024 net income at The Hartford improved about 18% compared to the same period a year ago despite $247 million in pretax catastrophe losses—$104 million from Hurricane Helene.Net income was $767 million...
Oct 25 2024 // After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed.In fact, holders of the bonds may be looking at returns of as much as 12%,...