All the headlines from our Profit Loss Topic Page, ordered by recency.
May 28 2024 // Petcare, food and candy company Mars Inc. has lost its bid to revive its claims against Factory Mutual Insurance Co. for business interruption losses it incurred during the coronavirus pandemic.The Fourth Circuit Court of...
May 28 2024 // In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over...
May 28 2024 // Almost two decades after it was established by the Mississippi Legislature, a storm and flood-mitigation grant program now has some funding – $5 million to be transferred from the Mississippi Surplus Lines...
May 24 2024 // Singapore’s Income Insurance Ltd. is exploring options as it looks to expand across the Asia Pacific region, including possibly tying up with a partner or selling a stake, according to people familiar with the...
May 20 2024 // The destructive windstorm that blew out windows in downtown Houston and left hundreds of thousands of southeast Texas residents without power caused upwards of $5-7 billion in total damage and economic loss, according to...
May 20 2024 // TUSCALOOSA, Ala. (AP) — A decisive vote against the United Auto Workers union at two Mercedes factories in Alabama on Friday sidetracked the UAW’s grand plan to sign up workers at nonunion plants mainly in the...
May 20 2024 // Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024.Q1 natural...
May 20 2024 // Almost half the world’s population will go to the polls before the end of 2024, which raises the threat of political violence and possible large insurance losses, according to Allianz Commercial in a recent report.An...
May 17 2024 // The explosion that rocked Marathon Petroleum Corp.’s Galveston Bay oil refinery one year ago trapped Rigoberto Guillen 75 feet in the air. Stranded on a metal platform, he and a colleague crouched low as black smoke...
May 16 2024 // Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review.The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024. Nevertheless,...
May 16 2024 // Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums.Gross written premiums in the business rose 9% from a year...
May 15 2024 // According to the Insurance Research Council (IRC), the average homeowners insurance expenditure has become less affordable for U.S. consumers over time.Looking at the the years 2001 to 2021—the latest year in which...
May 15 2024 // Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines.However, the workers’ compensation line...
May 13 2024 // SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corp. (ACIC) on Thursday reported first-quarter earnings of $23.6 million.The Saint Petersburg, Florida-based company, the rebranding of part of now-insolvent...
May 13 2024 // Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense payments, according to...
May 10 2024 // China Construction Bank Corp., the nation’s third-largest commercial lender, was accused in a US lawsuit of enabling a massive fraud in the reinsurance industry that left companies with “monumental...
May 10 2024 // Liberty Mutual Holding Company on Thursday reported first quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year.The combined ratio for the first three months of 2024...
May 6 2024 // Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO and reinsurance...
May 6 2024 // Drugmakers GSK Plc and Boehringer Ingelheim GmbH prioritized profits over consumer safety by hiding the cancer risks of their once-blockbuster heartburn drug Zantac, according to lawyers representing a Chicago woman in the...
May 6 2024 // It’s now illegal to sell weight-loss and muscle-building supplements to minors in New York, under a first-in-the-nation law that went into effect this week.Experts say loose federal regulation of dietary supplements...