All the headlines from our Profit Loss Topic Page, ordered by recency.
Feb 22 2024 // Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million.Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and...
Feb 22 2024 // Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of a global pandemic, wars...
Feb 22 2024 // France’s AXA, Europe’s second-biggest insurer, pledged on Thursday to deliver higher earnings and returns to shareholders by 2026 by growing its client base, automating processes and reducing labor costs.The...
Feb 19 2024 // Insurance agency employees and producers on average made more money in 2023 but, overall, employees reported lower satisfaction with their compensation than in 2022, a year when overall satisfaction rose, according to the...
Feb 15 2024 // Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million.The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low...
Feb 14 2024 // Utility firm Hawaiian Electric HE.Nrestored power on Hawaii Island after it had begun rolling outages on Tuesday due to the unavailability and reduced output from several large generators.“No more rolling outages...
Feb 14 2024 // American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior...
Feb 12 2024 // Hewlett-Packard lost more than $4 billion over its acquisition of British software firm Autonomy because of an elaborate fraud masterminded by its co-founder Mike Lynch to inflate the company’s value, HP’s...
Feb 12 2024 // Consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark, and a 14% increase over reported losses in 2022, newly released Federal Trade...
Feb 12 2024 // Every year, mammals, birds, fish and insects make epic migrations between habitats. The humpback whale, famously, can travel 5,000 miles in a trip.But because these animals cross national borders and frequently congregate...
Feb 9 2024 // The economic losses from the latest round of California storms will be significant, with many of these losses may not be insured because only 2% of California residents have purchased flood insurance, David Blades,...
Feb 9 2024 // Fourth quarter net income at CNA Financial Corp. was up about 54% to $367 million, and net income for the year increased 77% to a record $1.2 billion.CNA said its property/casualty segments recorded net premium growth...
Feb 8 2024 // Allstate Corp. fourth quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year.Allstate CEO Tom Wilson said “improved...
Feb 6 2024 // A new report warns insurance companies could face billions of dollars in losses if they stay on the current course of investments that contribute to climate change, at “a scale exceeding some of the worst wildfires...
Feb 5 2024 // The preliminary total damage and economic loss from the intense storms and record rainfall in California this week will be between $9 billion and $11 billion, according to AccuWeather estimates released on Monday.The...
Feb 5 2024 // Not all analysts think an underwriting profit is out of reach for 2024.While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, a report by Swiss Re Institute projects both 2024 and 2025 to have a...
Feb 5 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time in 2022, to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
Feb 5 2024 // Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion,...
Feb 2 2024 // U.S. safety regulators have upgraded their probe into Tesla TSLA.O vehicles over power steering loss to an engineering analysis – a required step before the agency could demand a potential recall.The National Highway...
Feb 2 2024 // The Hartford said fourth quarter net income available to common stockholders increased 30% to $766 million. The insurer ended the year with net income up 38% to about $2.5 billion.Commercial lines record fourth quarter...