All the headlines from our Profit Loss Topic Page, ordered by recency.
Oct 29 2024 // The third quarter of 2024 saw a significant number of natural disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of at least $102 billion, according to Aon plc in its...
Oct 28 2024 // Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton.Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information...
Oct 28 2024 // Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net...
Oct 25 2024 // Third quarter 2024 net income at The Hartford improved about 18% compared to the same period a year ago despite $247 million in pretax catastrophe losses—$104 million from Hurricane Helene.Net income was $767 million...
Oct 25 2024 // After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed.In fact, holders of the bonds may be looking at returns of as much as 12%,...
Oct 24 2024 // More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month.Tampa-based Heritage Insurance Holdings said in a preliminary statement...
Oct 23 2024 // BHP said on Wednesday that allegations a pursuit of profit over safety contributed to Brazil’s worst environmental disaster were “far-fetched and unjustified,” as the miner opened its defense to a mammoth...
Oct 22 2024 // Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida’s crops and agricultural infrastructure, according to a preliminary assessment released by the state’s Department of...
Oct 22 2024 // Japanese watchmaker Casio Computer said on Tuesday it will delay the release of its second-quarter earnings due to the impact of a ransomware attack on its accounting process, to mid-November from Nov. 6. Casio, known for...
Oct 22 2024 // Third quarter 2024 net income at W.R. Berkley Corp. increased to about $365.6 million compared to $333.6 million the same period the prior year on underwriting and investments.Net income was a record for the third quarter,...
Oct 21 2024 // Ping An Insurance (Group) Co. of China Ltd. reported on Monday a 36.1% rise in net profit in the first nine months of the year, driven by growing investment returns and new policies sold as the economy recovers.The...
Oct 21 2024 // Sustainable investments in emerging markets are facing a reckoning as environmental, social and governance strategies crumble under the weight of ongoing capital outflows and the appeal of higher-yielding energy bonds.ESG...
Oct 21 2024 // Despite challenging conditions, 75% of independent insurance agencies saw revenue gains from 2022 to 2023, according to the 2024 Agency Universe Study. That number is significantly higher than between 2020 and 2021, during...
Oct 18 2024 // Two Philadelphia professional sports team have lost their appeals over denied business interruption insurance claims tied to the COVID-19 pandemic.U.S. District Judge Michael Baylson this week dismissed lawsuits by the...
Oct 18 2024 // Moody’s RMS has pegged private insured losses from Hurricane Milton to between $22 billion and $36 billion, with a best guess of $26 billion.The Newark, California-based catastrophe modeler also narrowed its range...
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...