All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
May 4 2022 // Workers’ compensation insurer Erie Insurance Group must pay for weight-loss surgery for an obese woman who was injured at her child-care center, the North Carolina Court of Appeals decided this week.The appeals court...
May 3 2022 // First quarter underwriting profit soared as AIG reported net income of $4.25 billion compared with $3.87 billion during the 2021 first quarter.Underwriting income in AIG’s General Insurance unit was $446 million...
May 3 2022 // Ping An Insurance (Group) Co., China’s largest insurer by market value, said profit fell 24% and warned that outbreaks of COVID in the world’s second-biggest economy pose a threat to near-term growth.Net income...
Apr 28 2022 // Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk...
Apr 26 2022 // Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.3 billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3...
Apr 26 2022 // The Louisiana House passed a bill Monday that would broaden the requirements of when insurers have to pay loss of use coverage in response to a storm evacuation warning. House Bill 83 says any loss of use coverage would be...
Apr 26 2022 // The Iowa Supreme Court last week ruled in two separate decisions that COVID-19 did not cause a physical loss or damage that would allow a private golf club or a restaurant and bar to recoup income lost during COVID-19...
Apr 25 2022 // The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on a proposed new form: DWC Form-033, Request to Reduce Income Benefits Due to Contribution.Adopting this form...
Apr 22 2022 // Much attention was paid to ESG (environmental, social, and governance) issues and the Russian invasion of Ukraine as Marsh McLennan reported the highest first-quarter underlying growth in more than 20 years.First quarter...
Apr 21 2022 // The global reinsurance and London market sectors face increased risks from rising claims inflation, financial market volatility and weakening price momentum, according to a commentary published by Fitch Ratings.As a...
Apr 21 2022 // Initial insurance losses for the Eastern Australia floods are estimated at A$3.99 billion (US$2.97 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance...