All the headlines from our Profit Loss Topic Page, ordered by recency.
Oct 20 2023 // Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global...
Oct 19 2023 // Allstate Corp. today reported September catastrophe losses of $317 million and total catastrophe losses for the third quarter of about $1.2 billion pretax.Seventeen events in September resulted in catastrophe losses of...
Oct 19 2023 // Ahead of its third quarter earnings announcement early next month, The Hanover Insurance Group released a preliminary estimate of catastrophe losses of nearly $196 million primarily from multiple convective storms in the...
Oct 18 2023 // Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development.As one of the first insurers to report quarterly...
Oct 16 2023 // Minors and parents suing Meta Inc.’s Facebook and other technology giants for the kids’ social media platform addictions won an important ruling advancing their collection of lawsuits in a California court.A...
Oct 16 2023 // Progressive Corp. posted significant improvement in third quarter earnings late last week – with net income of $1.12 billion compared to $124.1 million a year ago during the same period.Progressive gave a snapshot of...
Oct 13 2023 // Nearly half of 400 insurance executives responding to a recent survey said their current priorities center on improving profitability rather than growing their businesses.Forty-eight percent of participants reported they...
Oct 12 2023 // American International Group (AIG) on Oct. 11 announced three significant appointments within its executive leadership team.David McElroy, currently chief executive officer of General Insurance, will assume a newly created...
Oct 11 2023 // Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace...
Oct 11 2023 // The severe weather in New York City and other spots around the country in late September could end up costing hundreds of millions of dollars in economic and insurance losses, according to global insurance broker...
Oct 10 2023 // China suffered direct economic losses of 308.29 billion yuan ($42 billion) over the first nine months of 2023, the government said, from natural disasters such as torrential rains, deadly landslides, freakish hailstorms...
Oct 4 2023 // Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends.“The liability component has been more problematic than the...
Oct 4 2023 // Hurricanes in the East. Wildfires in the West. Those are the big disasters that grab the headlines and are driving property insurance costs and cancellations, to a large degree, right?Yes, but insurers also are seeing a...
Oct 2 2023 // Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of much more than that every year, according...
Oct 2 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to AM Best.Catastrophe...
Sep 29 2023 // When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget...
Sep 29 2023 // European authorities are investigating whether popular weight-loss and diabetes drugs including Novo Nordisk A/S’s Wegovy may be linked to complications during anesthesia.The European Medicines Agency’s safety...
Sep 27 2023 // Target Corp. is closing nine stores in four states to stem losses from rising retail theft.One Manhattan location will be shuttered, along with two in Seattle, three in Northern California and three in Portland, Oregon,...
Sep 25 2023 // ST. PETERSBURG, Fla. (AP) — Florida agriculture losses from Hurricane Idalia are estimated at between $78 million and $371 million, with farmers also suffering widespread damage to such infrastructure as irrigation...
Sep 21 2023 // Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire.The losses for the month of August were $551 million or $435 million, after-tax, partially...