All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 19 2024 // Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said.Beryl made landfall...
Jul 19 2024 // The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion.The New York-based...
Jul 19 2024 // Allstate Corp. said it recorded pretax catastrophe losses of about $2.1 billion in the second quarter.The Northbrook, Illinois-based insurer on July 18 said the total included $230 million of pretax catastrophe losses for...
Jul 18 2024 // Insurance broker Marsh McLennan reported second quarter net income of $1.125 billion, an 8.7% increase from $1.035 billion reported during Q2 2023. Operating income rose 13% to $1.6 billion.Q2 earnings per share increased...
Jul 18 2024 // The recent floods in southern Germany will cost insurers an estimated €1.568 billion (US$1.7 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance...
Jul 17 2024 // Allianz SE agreed to buy a majority stake in Singapore’s Income Insurance Ltd. for about S$2.2 billion ($1.6 billion) to strengthen its presence in Asia.The German company plans to acquire at least 51% of Income...
Jul 16 2024 // U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion to $4.5 billion, according to estimates by Moody’s RMS Event Response. Insured losses associated with the storm include wind, storm...
Jul 16 2024 // Last month, amid reports that Hurricane Beryl would become the earliest Category 5 hurricane in history, a group of money managers were busy trying to figure out whether their highly calibrated bets centered on natural...
Jul 16 2024 // Progressive Corp. today reported second quarter 2024 results of about $1.5 billion and a combined ratio of 91.9.Results for the Mayfield Village, Ohio-based insurer are in comparison to second quarter 2023 net income of...
Jul 16 2024 // Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025,...
Jul 15 2024 // The commercial auto insurance segment maintained its place as a weaker-performing U.S. property/casualty insurance product line in 2023. Despite successive periods of pricing and underwriting actions, commercial auto has...
Jul 12 2024 // MEMPHIS, Tenn. (AP) — A sitting Tennessee sheriff pleaded not guilty Wednesday to charges that he illegally profited from the work of jail inmates under his supervision and housed dozens of them in a home outside of the...
Jul 10 2024 // At the same time it is settling a New York class action about underpaying totaled loss claims for $48 million, Progressive Insurance, in a separate case, has agreed to an $18.3 million settlement over allegations that its...
Jul 9 2024 // Private self-insured claim volume in the California workers’ compensation system fell 9.5% in 2023, the biggest year-to-year decline in private self-insured claim frequency in more than 15 years. However,...
Jul 8 2024 // Investors in bonds intended to help Jamaica cover the costs of a natural catastrophe won’t be affected by the havoc wrought by Hurricane Beryl, even as the prime minister declares the entire Caribbean island a...
Jul 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...
Jul 5 2024 // The cumulative cost of the seven heat events in California in the past decade amounted to $7.7 billion in losses, a new report shows.The analysis from California Insurance Commissioner Ricardo Lara’s office is the...
Jul 1 2024 // Total insurer combined losses and expenses incurred in 2023 were down, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and...
Jun 28 2024 // In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows.The S&P Global...
Jun 21 2024 // Recent flooding in south Florida caused insured losses in the hundreds of millions of dollars, from auto and homeowners claims, Aon and AM Best reported.The Florida Office of Insurance Regulation is also reminding insurers...