All the headlines from our Profit Loss Topic Page, ordered by recency.
Oct 17 2024 // Allstate Corp. doesn’t announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses.In keeping with its initiative to announce monthly catastrophe losses that...
Oct 17 2024 // Insurance broker Marsh McLennan reported a 6% increase in third quarter consolidated revenue to $5.7 billion, while revenue increased 5% on an underlying (organic) basis.Q3 operating income was $1.1 billion, an 11%...
Oct 17 2024 // Travelers on Thursday said third quarter net income was $1.26 billion compared to net income of $454 million during the same period a year ago on record net premiums, favorable prior year reserve development, and higher...
Oct 16 2024 // Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report.The total economic loss...
Oct 16 2024 // Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind.Verisk’s Extreme Event Solutions group said the range...
Oct 15 2024 // Progressive Corp. said it’s third quarter 2024 net income more than doubled compared to last year, to about $2.3 billion.Progressive said it took a hit of $563 million in catastrophe losses in September from...
Oct 15 2024 // Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co.The estimate includes losses from wind, storms surge, and inland flooding to personal,...
Oct 15 2024 // The Singapore government will block a proposed S$2.2 billion ($1.7 billion) deal by Allianz SE to buy a majority stake in a homegrown insurance firm, three months after the transaction sparked a public backlash.The...
Oct 15 2024 // Moody’s RMS said private insurers can expect to dole out between $35 billion and $55 billion for hurricanes Milton and Helene.A final industry-loss estimate for Hurricane Milton, a Category 3 that struck Siesta Key,...
Oct 11 2024 // Fitch Ratings expects Hurricane Milton to cause between $30 billion and $50 billion in insured losses to push total industry losses in 2024 above $100 billion for the fifth straight year.The range of losses expected by...
Oct 9 2024 // Catastrophe modeler Verisk predicted wind, storm surge and flooding from last month’s Hurricane Helene will cause insured losses of between $6 billion and $11 billion.The estimate does not include losses to the...
Oct 9 2024 // Investors in catastrophe bonds are girding themselves for substantial losses as the combined destructive force of Hurricanes Helene and Milton looks set to trigger payment clauses on a scale not seen in years.Two weeks...
Oct 9 2024 // Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said.The...
Oct 7 2024 // Total insured loss from Hurricane Helene is now estimated at between $10.5 billion and $17.5 billion—a figure that continues to grow as more damages are assessed, pushing catastrophe modelers to continually revise...
Oct 7 2024 // Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage.Privately insured loss from Hurricane Francine...
Oct 4 2024 // Softbank Group Corp., facing a $440 million lawsuit from Credit Suisse, said the bank was to blame for some of the investor losses tied to the collapse of Greensill Capital.In the latest stage of the long-running dispute,...
Oct 4 2024 // AccuWeather has increased its estimate of the total damage and economic loss from Hurricane Helene in the U.S. to between $225 billion and $250 billion.The range makes Hurricane Helene one of the most damaging and...
Oct 3 2024 // Karen Clark & Co., the well-regarded storm modeling and analytics firm, estimated that privately insured losses from Hurricane Helene will be about $6.4 billion – from wind, storm surge and inland flooding in nine...
Oct 2 2024 // Insured industry losses from the flooding in the Czech Republic, Poland and Austria in September 2024 will range from €2 billion (US$2.2 billion) to €3 billion (US$3.4 billion), according to Verisk, the data analytics...
Sep 30 2024 // Estimates of insured losses from Hurricane Helene continue to range around $5 billion, not including flood insurance losses, as the death toll in the Southeast continued to rise, reaching 107 by Monday morning.In Florida,...