All the headlines from our Profit Loss Topic Page, ordered by recency.
Aug 6 2024 // Singapore ministers addressed concerns about Allianz SE’s plan to buy a majority stake in Income Insurance Ltd., saying it would be held to account on its commitments and that the potential deal isn’t expected...
Aug 5 2024 // Do owners really know which departments or lines of business are making money in their agency? What are small commercial accounts costing the agency? How can the agency make personal lines more profitable? When is it time...
Aug 5 2024 // Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles.The $48 million represents approximately...
Aug 5 2024 // Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the property/casualty and reinsurance sectors, Moody’s...
Aug 2 2024 // Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely between $300 million and $1...
Aug 1 2024 // The formal split of its life and retirement business Corebridge Financial resulted in a second quarter net loss of nearly $4 billion for American International Group (AIG).The deconsolidation and divestitures from last...
Jul 31 2024 // Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70% above the 10-year average — as extreme wildfires, droughts and floods upend historical norms.The data, which were...
Jul 30 2024 // SCOR SE Chief Executive Officer Thierry Leger said he’s taking over control of the company’s life and health unit after it led the firm to report its first quarterly loss since 2022.The Paris-based reinsurer...
Jul 29 2024 // The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss seen in the previous year and the line’s worst underwriting results since at least 2000, according...
Jul 29 2024 // A Berkshire Hathaway insurer is insisting it does not owe $1.3 million in claimed business income losses to a cannabis growing company after a building fire shuttered one of its “flowering” rooms for 68...
Jul 26 2024 // Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million reported in Q2 2023.Adjusted net income attributable to Aon shareholders increased 9% during...
Jul 25 2024 // Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday.A software bug in cybersecurity firm CrowdStrike’s...
Jul 25 2024 // The West Virginia insurance commissioner is reminding all state and local governments and non-profit organizations that they could face penalties if they fail to obtain flood insurance on properties in flood hazard...
Jul 25 2024 // WTW reported second quarter net Income of $142 million, an increase of 48% compared to net income of $96 million in the prior-year second quarter.Q2 adjusted net income rose 20% to $263 million, from $219 million reported...
Jul 24 2024 // The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates.The portion of the...
Jul 24 2024 // DAYTONA BEACH, Fla. (AP) — Florida-based Brown & Brown Inc. (BRO), one of the largest U.S. insurance brokerages, this week reported second-quarter net income of $257 million, up from $190 million for the second...
Jul 24 2024 // W.R. Berkley CEO W. Robert Berkley, Jr. said the company does not see last week’s global network systems outage “being a material loss to the organization.”“I would be surprised if we didn’t...
Jul 24 2024 // Chubb said second quarter net income was up more than 24% to about $2.2 billion despite higher catastrophe losses than a year ago.Catastrophe losses for the second quarter were $580 million, pretax, compared to $400...
Jul 23 2024 // S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021.According to...
Jul 22 2024 // US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, US SCS accounted for a...