All the headlines from our Profit Loss Topic Page, ordered by recency.
Aug 10 2023 // Allianz SE, the German owner of bond giant Pacific Investment Management Co., said its second-quarter profit jumped from a year earlier as stronger earnings from its insurance business offset weaknesses in its asset...
Aug 10 2023 // Verisk Analytics Inc. (VRSK) on Wednesday reported second-quarter earnings of $196.9 million.The Jersey City, New Jersey-based company said it had profit of $1.35 per share. Earnings, adjusted for one-time gains and costs,...
Aug 9 2023 // Greensill Bank AG’s administrators are seeking more than $400 million from Zurich Insurance Plc in London lawsuits to recoup the defunct lender’s losses on controversial investments linked to Credit Suisse and...
Aug 9 2023 // Global natural catastrophes cost insurers US$50 billion in the first half, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, according to Swiss Re.“Severe convective storms –...
Aug 8 2023 // The overall property/casualty industry is expected to finish 2023 with a net combined ratio of 102.2, according to a recent webinar by the Insurance Information Institute (Triple-I) and Milliman.Triple-I and Milliman...
Aug 8 2023 // The third loss estimate for the Kahramanmaras Earthquake Sequence, which hit large parts of south-central Turkey and neighboring Syria on Feb. 6, 2023, has risen to $3.4 billion, according to PERILS, the independent...
Aug 7 2023 // Warren Buffett’s Berkshire Hathaway Inc. posted gains in operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last...
Aug 7 2023 // A U.S. judge has rejected former Allianz fund manager Gregoire Tournant’s bid to dismiss a criminal fraud case over his role in causing more than $7 billion of investor losses.In an order made public on Friday, U.S....
Aug 7 2023 // Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace...
Aug 4 2023 // Swiss Re AG said first-half net income rose more than ninefold to $1.4 billion from a year earlier, driven by contained natural catastrophe losses and a rebound in its life and health business to pre-pandemic levels.Net...
Aug 3 2023 // Artificial intelligence-powered insurer Lemonade recorded a net loss of $67.2 million for the second quarter compared with a net loss of $67.9 million a year ago during the same period.Catastrophes, specifically severe...
Aug 3 2023 // Insurtech Root Inc. posted a another net loss for the second quarter 2023 of about $37 million.The loss was a 62% improvement from the net loss of about $96 million during the same period in 2022. Over the first half of...
Aug 3 2023 // Verisk Analytics Inc. (VRSK) on Wednesday reported second-quarter earnings of $196.9 million.The Jersey City, New Jersey-based company said it had profit of $1.35 per share. Earnings, adjusted for one-time gains and costs,...
Aug 2 2023 // Republished from S&P Global Market IntelligenceFor the first time in three years, Florida’s struggling domestic residential property insurers have posted a quarterly profit, according to an analysis by S&P...
Aug 1 2023 // Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors.President...
Jul 31 2023 // Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income.Profits at insurers came under...
Jul 31 2023 // The Hartford said second quarter net income was $542 million, an increase of 23% compared with the same period a year ago, driven by written premium growth of 12% in commercial lines.Net income from commercial lines was...
Jul 28 2023 // Efforts by Universal Insurance Holdings, the publicly traded parent company of one of Florida’s largest property and casualty insurers, to shed policies, spread risk and raise rates appears to have paid off so far in...
Jul 27 2023 // Second-quarter net income at broker WTW was down 16%, compared to the same period a year ago, to $96 million.Revenue at WTW was up 6% to $2.16 billion, with organic growth up 7%. WTW Chief Executive Office Carl Hess said...
Jul 27 2023 // Vermont state and federal officials are urging farmers to document and report damage from the catastrophic flooding that hit the state two weeks ago and inundated crops in the rural mountainous state known for its scenic...