All the headlines from our Profit Loss Topic Page, ordered by recency.
Dec 13 2021 // The initial industry loss estimates for Southern Australia’s severe storms, which occurred during the period of Oct. 28-30, 2021, are A$1.03 billion (US$739 million), according to PERILS, the independent Zurich-based...
Dec 13 2021 // The Insurance Industry Charitable Foundation (IICF) raised nearly $1.3 million at its 15th Anniversary Northeast Division Benefit Event on December 7 at the Ziegfeld Ballroom in New York City.IICF is a nonprofit...
Dec 9 2021 // This post is part of a series sponsored by CoreLogic.With the 2021 hurricane season coming to an end, insurers and government agencies are beginning to take stock of what occurred and how damages stacked up compared to...
Dec 6 2021 // With good news comes bad, and vice-versa in Florida’s growing but rapidly deteriorating property insurance market, industry analysts said at a two-day Florida Chamber of Commerce Insurance Summit last week.First,...
Dec 6 2021 // Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may counteract recent positive...
Nov 30 2021 // The Tennessee commissioner of commerce and insurance has ratified a 5.6% decrease in workers’ compensation loss costs for voluntary market in 2022, which will result in the ninth straight year of rate decreases for...
Nov 24 2021 // Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may counteract recent positive...
Nov 19 2021 // Brit Ltd. announced it has completed a loss portfolio transfer (LPT) agreement with RiverStone International. The agreement is for predominantly legacy years of account on certain classes and certain discontinued classes...
Nov 19 2021 // LONDON – Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts.Faced with increased...
Nov 18 2021 // Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for...
Nov 18 2021 // MUMBAI – Indian digital payments firm Paytm tumbled 25% on its maiden day of trade on Thursday, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever...
Nov 15 2021 // Annual U.S. severe weather insured losses for 2021 have surpassed $20 billion after a rough October, even before the year is complete, according to a new Aon report.Multi-billion-dollar natural catastrophe-related...
Nov 15 2021 // Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report.“October is typically considered a ‘second...
Nov 15 2021 // All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings.Sharply lower non-life, coronavirus-related...
Nov 15 2021 // Catastrophic weather events such as wildfires, hurricanes and floods caused 39% of home insurance claims in 2020 – the highest percentage in the last six years.According to the 2021, LexisNexis Home Trends Report,...
Nov 15 2021 // There’s a storm warning. It might be a hurricane, a tornado, a derecho, or a microburst. It doesn’t matter, they all have one similar characteristic, damaging winds. After the storm passes, whether a building...
Nov 11 2021 // New research from RAND Corp. finds that after leaving the service, many veterans earn less money than they did while in active duty.The report, Navigating a Big Transition: Military Service Members’ Earnings and...
Nov 10 2021 // After two years of heavy storm-related losses, FedNat Insurance is pulling out of the Louisiana and Texas markets and doubling down on its home state of Florida.FedNat announced its decision to exit non-Florida markets...
Nov 10 2021 // Allianz nudged its forecast for record profit in 2021 even higher on Wednesday after a bumper third quarter while it tries to work out how much money it may need to set aside for a U.S. investigation into its fund...
Nov 9 2021 // The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance Commissioners (NAIC).According...