All the headlines from our Profit Loss Topic Page, ordered by recency.
Nov 21 2023 // Lower natural catastrophe losses, a better investment result and strong revenue growth in property/casualty reinsurance led to strong earnings’ increases for the four main European reinsurers in the nine month-period...
Nov 20 2023 // AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Florida Farm Bureau Casualty Insurance Co. and...
Nov 20 2023 // A Missouri jury ordered Bayer to pay $1.56 billion to four plaintiffs who claimed the company’s Roundup weedkiller caused injuries including cancer, a verdict that could intensify investor pressure on the German...
Nov 20 2023 // Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh,...
Nov 20 2023 // Five publicly traded insurance brokers reported strong third quarter revenues, with their executives using adjectives such as “outstanding,” “terrific,” “excellent,” and...
Nov 17 2023 // Italy’s top insurer Generali stuck to 2024 targets on Thursday after posting a 29.6% rise in nine-month adjusted net profit despite rising claims from natural disasters which it said would also weigh on this...
Nov 17 2023 // New research indicates members of the Fortune 500 could suffer direct financial losses in excess of $20 billion due to a partial outage of third-party cloud services, according to Parametrix.The findings highlight how the...
Nov 17 2023 // Companies that allow remote work have experienced revenue growth that’s four times faster than those that are more stringent about office attendance, a new survey shows, adding fuel to the debate over productivity...
Nov 16 2023 // Zurich Insurance Group announced that its subsidiary, Farmers Group Inc. (FGI), has agreed to acquire three insurance brokers of the Farmers Exchanges for US$760 million. The deal also includes the Farmers Exchanges’...
Nov 15 2023 // Atlantic American Corp., the holding company for property/casualty insurer American Southern Insurance Co., Bankers Fidelity Life, and an employee benefits unit, this week reported third-quarter net income of $1.8 million,...
Nov 15 2023 // Moody’s RMS, the risk modeling and solutions company, estimates private market insured losses from Hurricane Otis to range between US$2.5 billion and US$4.5 billion. On the other hand, Verisk puts insured losses at...
Nov 9 2023 // Liberty Mutual Holding Co. on Thursday reported third quarter net income of $219 million, reversing a loss of $353 million a year ago during the same time.“Solid underwriting results in our Global Risk Solutions...
Nov 9 2023 // Tampa-based HCI Group, the holding company for Homeowners Choice and TypTap property insurance companies, reported a $15.7 million net income in the third quarter, a strong improvement over Q3 last year, when the group saw...
Nov 9 2023 // Industry insured losses due to wind from Winter Storm Ciarán (also named Emir by the Free University of Berlin) will range between €800 million and €1.3 billion ($855.2 million and $1.4 billion), with the majority of...
Nov 6 2023 // Heritage Insurance Holdings, parent company of Florida’s 10th-largest property insurance company, reported a net loss of $7.4 million for the third quarter of 2023, a significant improvement over last year after the...
Nov 6 2023 // Warren Buffett`s company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns – particularly the insurers – generally performed...
Nov 6 2023 // Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends.“The liability component has been more problematic than the...
Nov 6 2023 // Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global...
Nov 2 2023 // Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh,...
Nov 2 2023 // American International Group (AIG) during the third quarter recorded a 264% increase in underwriting income within its General Insurance segment to $611 million as adjusted pretax income in the segment increased to about...