All the headlines from our Profit Loss Topic Page, ordered by recency.
May 4 2023 // Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses.The company reported a $342 million loss on an adjusted basis...
May 2 2023 // In spite of continued actions to raise prices of coverage, auto loss cost continue to climb and profits will continue to elude personal auto insurers—probably until 2024, analysts at Standard & Poor’s said.John...
Apr 28 2023 // Insured losses for floods that hit Southeast Australia in October 2022 have risen to A$907 million (US$600.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Apr 28 2023 // The Hartford Financial Services reported first quarter 2023 net income of $535 million, nearly a 21% increase over $443 million a year ago.In the company’s property/casualty segments, results were carried by net...
Apr 27 2023 // Markel Corp. reported first quarter 2023 net income of $537.8 million compared to a loss of about $48.8 million a year ago.Net investment gains during the first three months were about $372.6 million compared to a loss of...
Apr 26 2023 // Ping An Insurance (Group) Co. of China Ltd. saw a 48.9% rise in first-quarter net profit as its investment income improved, China’s largest insurer by market value reported on Wednesday.Profit rose to 38.4 billion...
Apr 26 2023 // First quarter net income at Chubb Ltd. fell several percentage points to about $1.9 billion as catastrophe losses evened gains in premiums written.P&C underwriting income was about $1.21 billion, down 5.5% from about...
Apr 20 2023 // Allstate Corp. said pre-tax catastrophe losses for the first quarter are expected to be about $1.7 billion, with about $1.3 billion occurring during the month of March.Losses in March were attributed to 10 events with 75%...
Apr 20 2023 // Insurance losses from the March tornado that carved a path of destruction through parts of Mississippi are approaching $100 million, and uninsured losses will likely exceed that number, the state insurance department...
Apr 19 2023 // First quarter net income at Travelers Cos. fell 4% to $975 million as catastrophes cost the insurer a total of about $535 million during the first three months of the year.Catastrophe losses, coupled with a $48 million...
Apr 17 2023 // Private and public insurance entities saw an estimated $15 billion of global losses during the first quarter – close to both average and median losses of the last 10 years, according to Aon’s Q1 Global Catastrophe...
Apr 17 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast.Fitch...
Apr 17 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
Apr 17 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
Apr 14 2023 // Two weeks before its officially set to announce earnings, The Hartford previewed first-quarter net income and underwriting results, revealing that net income will grow to $530 million, in spite of booking $185 million in...
Apr 13 2023 // Progressive Corp. today reported first quarter net income of about $448 million – a 43% increase compared to the same time last year – though the insurer booked a nearly $152 million loss for the month of March.At the...
Apr 10 2023 // Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best...
Apr 3 2023 // This post is part of a series sponsored by CoreLogic.With climate change and severe weather continuing to escalate, hail is increasingly posing challenges for risk assessment and risk management in the insurance industry....
Apr 3 2023 // Three current and former former executives of a shipbuilder that constructs vessels for the U.S. Navy have been indicted on accounting fraud charges accusing them of falsely inflating the company’s reported earnings,...
Apr 3 2023 // Trium Cyber is the industry’s first Lloyd’s-approved company to provide mono-line cyber coverage for U.S. risks.Launched in January 2023, the full stack surplus lines insurer has joined the ranks of new...