All the headlines from our Profit Loss Topic Page, ordered by recency.
Apr 17 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast.Fitch...
Apr 17 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
Apr 17 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Apr 14 2023 // Two weeks before its officially set to announce earnings, The Hartford previewed first-quarter net income and underwriting results, revealing that net income will grow to $530 million, in spite of booking $185 million in...
Apr 13 2023 // Progressive Corp. today reported first quarter net income of about $448 million – a 43% increase compared to the same time last year – though the insurer booked a nearly $152 million loss for the month of March.At the...
Apr 10 2023 // Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best...
Apr 3 2023 // This post is part of a series sponsored by CoreLogic.With climate change and severe weather continuing to escalate, hail is increasingly posing challenges for risk assessment and risk management in the insurance industry....
Apr 3 2023 // Three current and former former executives of a shipbuilder that constructs vessels for the U.S. Navy have been indicted on accounting fraud charges accusing them of falsely inflating the company’s reported earnings,...
Apr 3 2023 // Trium Cyber is the industry’s first Lloyd’s-approved company to provide mono-line cyber coverage for U.S. risks.Launched in January 2023, the full stack surplus lines insurer has joined the ranks of new...
Mar 30 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
Mar 30 2023 // The Philippines is readying an insurance plan that will protect the Southeast Asian nation from infrastructure losses caused by natural disasters, seeking to better respond to climate change risks.The government will put...
Mar 27 2023 // Sun Pharmaceutical Industries Ltd. expects revenue to fall as measures taken by India’s top drugmaker to contain an information technology security breach in early March impacted operations.A ransomware group has...
Mar 27 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Mar 23 2023 // AccuWeather issued preliminarily estimates on Thursday showing the total damage and economic loss from the series of recent intense storms to hit California to be an additional $6 billion to $8 billion.The recent storms...
Mar 23 2023 // The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, $21.5 billion more than the $5 billion underwriting loss reported in 2021, according to a report published by AM Best.The...
Mar 23 2023 // Lloyd’s of London swung to a pre-tax loss in 2022 and took writedowns on its fixed-income investments, it said on Thursday.The pre-tax loss was 800 million pounds ($982.56 million), compared with a profit of 2.3...
Mar 22 2023 // Democratic lawmakers and advocacy groups called Monday for blocking the planned elimination of North Carolina’s corporate income tax, arguing that companies that benefit from operating in the state should pay a...
Mar 20 2023 // Pennsylvania-based insurance program specialist NSM Insurance Group has completed its acquisition of three businesses that specialize in the field of medical stop loss insurance and managed care insurance.The firms are...
Mar 20 2023 // Climate change is already having a major economic and financial impact on the United States and may trigger asset value losses in coming years that could cascade through the U.S. financial system, Treasury Secretary Janet...
Mar 20 2023 // While most restaurants have seen their revenues return to pre-COVID levels, given continued volatility in food and labor costs, business income values remain unstable, according to Lindsay Shipper, managing director and...