All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 11 2023 // Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state...
Jul 6 2023 // A British insurance group is pushing its members, which include Allianz SE, Aviva Plc and Chubb Ltd., to step up their efforts to fight biodiversity loss as part of their broader climate-related goals.In a guide published...
Jul 3 2023 // SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is...
Jun 29 2023 // The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022. Key findings in the report include: Medical losses paid in 2022 were...
Jun 29 2023 // This post is part of a series sponsored by IAT Insurance Group. The most successful fleets are those that have a proactive safety culture and do more than what is dictated by federal and state regulations. They take full...
Jun 21 2023 // With ample capital, Fitch Ratings’ latest annual ‘U.S. Hurricane Season’ report indicates U.S. property and casualty (P/C) and reinsurers can absorb losses if a large hurricane makes landfall this...
Jun 20 2023 // U.S. auto safety regulators are investigating nearly 40,000 Hyundai Ioniq 5 electric vehicles over reports of power loss while driving tied to a battery charging issue.The National Highway Traffic Safety...
Jun 19 2023 // The owners of London’s ExCel conference center on Friday won a court ruling against insurers, including Royal & Sun Alliance, over pandemic-related losses, which its lawyers said could affect hundreds of...
Jun 19 2023 // About 33 million U.S. homes with a combined reconstruction cost value of $11.6 trillion are at risk of hurricane-force winds. But two new computer models promise to help property owners and insurers better predict where...
Jun 16 2023 // The impact from a June hailstorm over Texas with baseball to softball-sized hail is expected to cause over $1 billion in insured losses, according to catastrophe modeling firm Karen Clark and Company. The storm occurred...
Jun 15 2023 // A rise in first quarter losses in the homeowners insurance line of business primarily put U.S. property/casualty underwriting results in the red, according to AM Best.The U.S. P/C industry booked a $8.2 billion...
Jun 15 2023 // Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax.There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but...
Jun 13 2023 // Core Specialty Insurance Holdings, Inc., and its subsidiaries announced today that it will form a medical stop-loss division through the acquisition of the MGU/Stop-Loss business of American National Group. The acquisition...
Jun 12 2023 // Branch Insurance has conducted a round of layoffs, according to a June 8 LinkedIn post by co-founder and CEO Steve Lekas.Lekas did not announce the number of employees who were let go, but cited “ongoing challenges...
Jun 2 2023 // Two new hurricane forecast models promise to help property owners and insurers better predict the losses from storms that may be increasing in intensity as ocean waters continue to warm.The National Hurricane Center...
May 30 2023 // This post is part of a series sponsored by AgentSync. It’s no longer just a hypothesis that more and larger natural disasters, along with general inflation and social inflation, are driving up insurers’ claims...
May 25 2023 // Italy’s Generali confirmed all its 2024 business plan targets on Thursday after first quarter profits rose on a strong non-life performance which more than offsetting weakness in the insurer’s life...
May 24 2023 // An analysis from S&P Global Market Intelligence found that the finger can be pointed at personal lines carriers for most of the property/casualty industry underwriting red ink during the first quarter.The U.S. P/C...
May 22 2023 // Exxon Mobil Corp on Friday said an ongoing dispute over oil-spill insurance in Guyana could halt production at its first offshore platform there, cutting revenue by about $350 million per month.A Guyanese court this month...
May 19 2023 // When HCI Group’s TypTap Insurance launched in 2016, it created a buzz in the industry and some skepticism, due to the company’s plan to rely heavily on mapping technology and property data. This month,...