All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
May 6 2024 // The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings...
May 6 2024 // The workers’ compensation system overall is healthy and strong. The sector has seen long-term frequency declines for multiple decades with moderate severity of claims costs for at least the past decade. That’s...
May 3 2024 // AXA, Europe’s second-largest insurer, reported a 6% increase in total revenue during the first quarter to €34 billion ($36.4 billion), compared with €31.8 billion ($34.1 billion) in Q1 2023.The increase in Q1...
May 3 2024 // Heritage Insurance Holdings Inc. (HRTG) on Wednesday reported earnings of $14.2 million in its first quarter of this year, about the same as earnings for Q1 of 2023, but down from the $31 million in net income reported for...
May 2 2024 // Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&C) insurers to assess underwriting risks.WHY IT’S...
May 2 2024 // Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns.Insurers usually see stable product demand irrespective of economic conditions, mainly due to...
May 2 2024 // American International Group Inc. (AIG) reported profit above analysts’ estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results.Adjusted earnings for the...
May 1 2024 // Insurtech Root Inc. posted a net loss for the first quarter 2024 of $6.2 million but said it recorded operating income for the first time in the company’s history.The net income loss for the first three months of the...
Apr 30 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 disaster...
Apr 29 2024 // The Hartford CEO Christopher Swift told analysts late last week that the insurer’s first quarter results included “progress toward restoring targeted profitability in auto” as it turned in an improved...
Apr 24 2024 // Ping An Insurance’s first-quarter net profit fell 4.3%, hit by shrinking returns from property and casualty insurance as well as its asset management operations, the Chinese insurance giant reported on...
Apr 23 2024 // Chubb started 2024 off with first quarter net income up 13.3%, compared to the same time a year ago, to about $2.1 billion.The first three months of 2024 followed a year Chubb CEO Evan G. Greenberg called the “best...
Apr 23 2024 // First quarter net income at W.R. Berkley Corp. increased about 50% compared to the same period the prior year to about $442.5 million on pretax underwriting income growth of 31.8% to $309 million.The Greenwich,...
Apr 22 2024 // The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise its outlook for the segment...
Apr 19 2024 // Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March.Six events contributed to the $343 million total for March — before favorable reserve re-estimates...
Apr 19 2024 // Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said...