All the headlines from our Profit Loss Topic Page, ordered by recency.
Jun 10 2022 // A Connecticut casino and resort operator has lost its bid to obtain insurance reimbursement for business losses due to the COVID-19 virus.Factory Mutual Insurance Co. (FMI) has succeeded in having the resort’s...
Jun 10 2022 // U.S. Treasury Secretary Janet Yellen said a plan to ban European and UK firms from insuring tanker shipments of Russian oil could help limit Moscow’s energy revenues as allied countries seek to curb revenues flowing...
Jun 10 2022 // The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits.With Western markets...
Jun 6 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021.The P/C industry posted a $5.2...
May 31 2022 // This post is part of a series sponsored by InsurBanc.Career aspirations are often guided by maximizing one’s income. Highly effective and successful employees earn an ever-increasing wage and grow their income as...
May 31 2022 // AM Best reported Friday that first-quarter net underwriting income for the U.S. property/casualty industry rose 4.6% to $3.3 billion.Explaining the result, AM Best said that a 10.5 percent jump in net earned premiums and a...
May 27 2022 // MEMIC Hires White as Senior Underwriter in PennsylvaniaWorkers’ compensation insurer MEMIC Group has hired Curtis White as senior production underwriter, responsible for renewals and new business in Pennsylvania....
May 26 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021.The P/C industry posted a $5.2...
May 24 2022 // LONDON – Banks and insurers that fail to manage climate risks as a “first-order” issue could face a 10% to 15% hit to annual profits and higher capital requirements, the Bank of England (BoE) said on...
May 23 2022 // Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, has completed a previously announced loss portfolio transfer agreement (LPT) with Aspen Insurance Holdings Ltd. and its subsidiaries for their 2019 and...
May 23 2022 // Yankees Entertainment and Sports Network (YES), the broadcasting company for the New York Yankees, New York Nets and other area sports teams, is suing its insurer, Hartford Fire Insurance Co., for denying its claims for...
May 19 2022 // The Texas Department of Insurance, Division of Workers’ Compensation (DWC) said it has adopted a new form: DWC Form-033, Request to Reduce Income Benefits Due to Contribution (DWC Form-033), effective immediately....
May 19 2022 // Assicurazioni Generali beat expectations in the first quarter even as impairments on Russia drove net profit lower, a boost for CEO Philippe Donnet who last month won a shareholder battle to keep his job for another three...
May 16 2022 // Three out of four of the major European reinsurers reported their profits were negatively affected as a result of elevated natural catastrophe claims and a first round of claims reserves from the Russia-Ukraine war,...
May 11 2022 // The directors and officers insurance marketplace in 2021 enjoyed its most profitable year since 2014 but results have to be “viewed as a possible aberration rather than a the start of a trend,” according to a...
May 9 2022 // Heritage Property & Casualty Insurance Co. reported more losses for the first quarter of 2022 and a spike in its combined ratio. But company officials said Friday they are taking aggressive steps, including rate...
May 5 2022 // Boston-based Safety Insurance Group, Inc. reported first quarter 2022 results showing net income of $7.8 million, compared to $36.2 million for the comparable 2021 period, as auto insurance claim frequency returned to...
May 5 2022 // Swiss Re reported a group net loss of $248 million during the first quarter, as a result of headwinds such as the war in Ukraine, higher-than-expected natural catastrophes and the ongoing COVID-19 pandemic.This loss...
May 5 2022 // Financial institutions face losses of at least $225 billion from risks related to water, with a third of them doing nothing to assess the potential impact, a report by leading environmental disclosure platform CDP and...
May 4 2022 // First quarter 2022 insurance premiums earned grew 6.5% to about $11 billion at Allstate Corp., as net income was $630 million compared with a loss of about $1.4 billion during the first three months of 2021.CEO Tom Wilson...