All the headlines from our Profit Loss Topic Page, ordered by recency.
May 16 2023 // An owner of Broadway theaters and Pacific Indemnity Insurance Co. have voluntarily agreed to end their remaining litigation over COVID-19 coverage claims.Under the stipulation filed May 11, each party will bear its own...
May 10 2023 // While the property/casualty insurance industry overall may have seen a slight loss in profitability in 2022, workers’ compensation continues to be the most profitable line, with a “very healthy”...
May 8 2023 // Even though Berkshire Hathaway’s GEICO achieved a 93 first-quarter combined ratio, an enviable result measured against industry peers, the leader of Berkshire’s insurance operations said the figure is not a...
May 8 2023 // Insured losses for New Zealand’s North Island floods of Jan. 27 to Feb. 2 are estimated at NZ$1.75 billion ($1.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide...
May 8 2023 // Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy prediction for his own businesses: the good times may be over.The billionaire investor...
May 8 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 compared to 2022, but the combined ratio is still going to hover above breakeven, according to their forecast.Fitch...
May 5 2023 // American International Group said first quarter 2023 underwriting income in its general insurance segment was $502 million, “representing the strongest first quarter underwriting results AIG has achieved,” said...
May 4 2023 // This post is part of a series sponsored by CoreLogic.Insurers affected by Hurricane Ian’s damaging path across Florida at the end of September 2022 faced operational, regulatory and statutory requirements for...
May 4 2023 // Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period.“Profitability improved in all our main businesses, supported by...
May 4 2023 // Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses.The company reported a $342 million loss on an adjusted basis...
May 2 2023 // In spite of continued actions to raise prices of coverage, auto loss cost continue to climb and profits will continue to elude personal auto insurers—probably until 2024, analysts at Standard & Poor’s said.John...
Apr 28 2023 // Insured losses for floods that hit Southeast Australia in October 2022 have risen to A$907 million (US$600.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Apr 28 2023 // The Hartford Financial Services reported first quarter 2023 net income of $535 million, nearly a 21% increase over $443 million a year ago.In the company’s property/casualty segments, results were carried by net...
Apr 27 2023 // Markel Corp. reported first quarter 2023 net income of $537.8 million compared to a loss of about $48.8 million a year ago.Net investment gains during the first three months were about $372.6 million compared to a loss of...
Apr 26 2023 // Ping An Insurance (Group) Co. of China Ltd. saw a 48.9% rise in first-quarter net profit as its investment income improved, China’s largest insurer by market value reported on Wednesday.Profit rose to 38.4 billion...
Apr 26 2023 // First quarter net income at Chubb Ltd. fell several percentage points to about $1.9 billion as catastrophe losses evened gains in premiums written.P&C underwriting income was about $1.21 billion, down 5.5% from about...
Apr 20 2023 // Allstate Corp. said pre-tax catastrophe losses for the first quarter are expected to be about $1.7 billion, with about $1.3 billion occurring during the month of March.Losses in March were attributed to 10 events with 75%...
Apr 20 2023 // Insurance losses from the March tornado that carved a path of destruction through parts of Mississippi are approaching $100 million, and uninsured losses will likely exceed that number, the state insurance department...
Apr 19 2023 // First quarter net income at Travelers Cos. fell 4% to $975 million as catastrophes cost the insurer a total of about $535 million during the first three months of the year.Catastrophe losses, coupled with a $48 million...
Apr 17 2023 // Private and public insurance entities saw an estimated $15 billion of global losses during the first quarter – close to both average and median losses of the last 10 years, according to Aon’s Q1 Global Catastrophe...