All the headlines from our Profit Loss Topic Page, ordered by recency.
Jan 30 2024 // San Francisco, California-based Resilience expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. The company reported that its expanded authorities come after a...
Jan 29 2024 // Broker WTW said it has launched a cyber solution specifically for business with annual revenue under $50 million, including startups and pre-revenue accounts. This tailored solution for small- and medium-sized enterprises...
Jan 24 2024 // Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase.The Greenwich,...
Jan 24 2024 // Progressive Corp. today said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period.The Mayfield Village, Ohio-based insurer reported some quarterly and...
Jan 24 2024 // Workers’ compensation loss costs in Tennessee will drop an average of 9.4% for the voluntary market starting March 1, marking the 11th straight decrease for the state.The decrease follows declines of 10.2% in 2023...
Jan 23 2024 // Insurance brokerage Brown & Brown reported an 85% surge in fourth-quarter profit to $268.6 million on Monday, helped by higher commissions and fees alongside better investment returns.The insurance industry typically...
Jan 22 2024 // For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year.The calculus around natural disasters such as hurricanes and cyclones fed record gains at funds...
Jan 19 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time last year to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
Jan 19 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, an improvement from 2023, a report by Swiss Re Institute projects...
Jan 18 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,...
Jan 10 2024 // Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around 2,000 properties, consultants PwC said on Wednesday.Heavy rain caused major rivers to burst...
Jan 10 2024 // The cockpit voice recorder data on the Alaska Airlines Boeing 737 MAX 9 jet which lost a panel mid-flight on Jan. 5 was overwritten, U.S. authorities said, renewing attention on long-standing safety calls for longer...
Jan 8 2024 // Affinity Advisors, providers of a digital platform for securing specialty insurance, has named a former Aon and Marsh McLennan executive to be chief revenue officer.Andrew Suesserman, who spent 12 years with Marsh and Aon,...
Jan 8 2024 // A New York-based apparel company is entitled to its claim for the full $600,000 limit on its marine cargo insurance policy because the policy was ambiguous as to whether a warehouse fire that destroyed its goods was at an...
Jan 5 2024 // The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is expected to be manageable relative to the sector’s net profit, according to AM Best in a market...
Jan 4 2024 // Japan Airlines (JAL) on Thursday said it expected losses of more than $100 million after one of its planes was destroyed when it collided with another aircraft on the runway at Tokyo’s Haneda airport this week.All...
Jan 2 2024 // The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an industry loss of US$5.8 billion, the largest ever cat loss for the Turkish insurance market,...
Dec 28 2023 // A federal appellate court reversed a trial court’s decision to certify a class of plaintiffs in a lawsuit that alleged State Farm Mutual Automobile Insurance Co. undervalued total-loss claims by Louisiana claimants.A...
Dec 27 2023 // Wall Street’s affair with blank-check firms, the finance fad that pushed companies onto the stock market during the COVID-19 pandemic, ended this year with a string of big bankruptcies and even bigger losses for...
Dec 20 2023 // A new AM Best segment report details asbestos and environmental (A&E) losses and reserve decline through the end of 2022.AM Best maintains its estimate for net asbestos losses at $100 billion and environmental losses...