All the headlines from our Profit Loss Topic Page, ordered by recency.
Dec 22 2022 // An investigation is being launched after the latest version of Italy’s Vega C rocket failed on its second mission, destroying two Earth-imaging satellites and further complicating Europe’s access to space on...
Dec 21 2022 // Tennessee’s insurance commissioner has approved a 10.2% average decrease in workers’ compensation loss costs for the voluntary market, marking the 10th-straight reduction for the state.The Dec. 14 order from...
Dec 16 2022 // RiverStone International, the Bermuda-based acquirer and reinsurer of legacy and discontinued insurance business, announced it has entered into loss portfolio transfer (LPT) reinsurance agreements with affiliates of AXIS...
Dec 13 2022 // Italy’s biggest insurer Generali on Tuesday raised the projected boost to its earnings from last year’s purchase of smaller rival Cattolica, and ruled out negative impacts from new accounting standards.Generali...
Dec 7 2022 // Assicurazioni Generali SpA is planning to sell a roughly €20 billion ($21 billion) Italian life insurance portfolio as part of a plan to improve profitability, people familiar with the matter said.The Italian insurer,...
Dec 7 2022 // According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations.FFT comprised 36% of of the company’s cyber claims – an all-time high –...
Dec 6 2022 // Apparently nothing has changed within the last several months to change AM Best’s negative outlook on the U.S. personal lines insurance segment.Tuesday the insurance industry rating agency said it was maintaining its...
Dec 6 2022 // The New Mexico Office of Superintendent of Insurance approved a rate proposal submitted by the National Council on Compensation Insurance that will reduce voluntary workers’ compensation loss costs by an average of...
Dec 1 2022 // Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a...
Nov 21 2022 // Root Inc. reported a third-quarter net loss of $64 million, down from a net loss of $133 million during the same quarter last year. Year-to-date losses sit at $230 million, which is down from $411 million at the end of the...
Nov 21 2022 // The Federal Emergency Management Agency has projected an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5 billion to $5.3 billion, including loss...
Nov 18 2022 // Insurtech Lemonade booked a third-quarter net loss of $91.4 million compared with a net loss of $66.4 million during the same quarter last year, but in a letter to shareholders, the company said both top and bottom lines...
Nov 17 2022 // Citizens Property Insurance Corp. has released its first estimate on losses from Hurricane Nicole, a category 1 storm that hit Florida’s east coast Nov. 10.Modeled losses plus loss adjustment expenses – but not...
Nov 16 2022 // Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion.This estimate represents insured losses associated with...
Nov 15 2022 // Direct losses, litigation and other expenses from Hurricane Ian will reach $3.8 billion for Florida’s Citizens Property Insurance Corp., but that’s still below the threshold that would trigger an assessment on...
Nov 14 2022 // Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced that one of its wholly owned subsidiaries has closed its loss portfolio transfer transaction with specialty insurance underwriter Argo Group...
Nov 14 2022 // n Friday, the Federal Emergency Management Agency announced an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5-$5.3 billion, including loss adjustment...
Nov 14 2022 // The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the third quarter of this...
Nov 14 2022 // Insured losses from Hurricane Nicole, a category 1 storm that came ashore on Florida’s east coast last week, will be no more than $750 million, a fraction of the level of losses caused by Hurricane Ian six weeks...
Nov 9 2022 // BRP Group, the parent company of the national brokerage known as Baldwin Risk Partners, announced a near-doubling of revenue for the third quarter of 2022 over this time last year, but it still saw a net loss of $47...