All the headlines from our Profit Loss Topic Page, ordered by recency.
Oct 10 2023 // China suffered direct economic losses of 308.29 billion yuan ($42 billion) over the first nine months of 2023, the government said, from natural disasters such as torrential rains, deadly landslides, freakish hailstorms...
Oct 4 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...
Oct 4 2023 // Hurricanes in the East. Wildfires in the West. Those are the big disasters that grab the headlines and are driving property insurance costs and cancellations, to a large degree, right?Yes, but insurers also are seeing a...
Oct 2 2023 // Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of much more than that every year, according...
Oct 2 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to AM Best.Catastrophe...
Sep 29 2023 // When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget...
Sep 29 2023 // European authorities are investigating whether popular weight-loss and diabetes drugs including Novo Nordisk A/S’s Wegovy may be linked to complications during anesthesia.The European Medicines Agency’s safety...
Sep 27 2023 // Target Corp. is closing nine stores in four states to stem losses from rising retail theft.One Manhattan location will be shuttered, along with two in Seattle, three in Northern California and three in Portland, Oregon,...
Sep 25 2023 // ST. PETERSBURG, Fla. (AP) — Florida agriculture losses from Hurricane Idalia are estimated at between $78 million and $371 million, with farmers also suffering widespread damage to such infrastructure as irrigation...
Sep 21 2023 // Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire.The losses for the month of August were $551 million or $435 million, after-tax, partially...
Sep 18 2023 // The recent devastating floods following Super Typhoon Saola in Hong Kong and other parts of China may add further pressure to the upcoming reinsurance renewals in January, according to an AM Best commentary.The overall...
Sep 18 2023 // The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance...
Sep 18 2023 // Pine-Sol maker Clorox said on Monday its first-quarter results could see a “material impact” from a cybersecurity attack last month that damaged portions of its IT infrastructure and caused widescale disruption...
Sep 18 2023 // Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report.“Reinsurers generally...
Sep 14 2023 // The U.S. Department of Agriculture’s Risk Management Agency (RMA) announced changes to the Whole Farm Revenue Protection (WFRP) and Micro Farm Insurance plans in an effort to increase participation and access to crop...
Sep 12 2023 // Even after putting through 20% rate hikes over the course of this year, The Hartford needs another round of similar magnitude next year, the insurance company’s leader said recently.The Hartford’s auto book...
Sep 12 2023 // A U.S.-focused Cyber Industry Loss Index has been launched by Zurich-based Perils and CyberAcuView, an independent U.S.-based organization formed by leading cyber insurers, to keep capital flowing in the cyber insurance...
Sep 12 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to a new AM Best...
Sep 11 2023 // Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according...
Sep 11 2023 // Non-life insurers are set to significantly improve their profitability in the next few years as investment returns from higher rates cushion a hit from a rise in claims, a report by Swiss Re Institute showed on...