All the headlines from our Profit Loss Topic Page, ordered by recency.
Feb 10 2021 // A bill filed in Texas would require business interruption insurance policies to cover losses from a pandemic. Under SB 249, filed by Sen. Charles Schwertner, business interruption insurance would be required to...
Feb 9 2021 // In the first nine months of 2020, net income for the U.S. property/casualty insurance industry dropped 27.5% to $35.1 billion and net underwriting gains declined to $0.3 billion, from $5.4 billion a year earlier as the...
Feb 8 2021 // There were 416 natural catastrophe events globally in 2020 that resulted in economic losses of $268 billion – 8% more than the average annual losses for this century, according to insurance broker Aon’s latest...
Feb 5 2021 // Fourth quarter profit at The Hartford dipped slightly due in part to COVID-related group life insurance claims.Fourth quarter 2020 net income came in at $532 million, down 2% from fourth quarter 2019. Fourth quarter...
Feb 4 2021 // Insurer Allstate reported improved auto underwriting results and strong investment returns for the fourth quarter 2020.Net income was up 52% to $2.6 billion for the quarter compared to net income of $1.7 billion in the...
Feb 3 2021 // Argo Group International Holdings Ltd. estimates losses from fourth quarter 2020 natural catastrophes and the COVID-19 pandemic will hit $51 million.Breaking down the overall total, Bermuda-based Argo expects to report Q4...
Feb 3 2021 // Global insurer Chubb reported fourth quarter results for 2020 significantly better than the same period in 2019.For the 2020 fourth quarter, Chubb’s net income grew significantly higher, as did its net premiums...
Feb 3 2021 // BEIJING/SHANGHAI — Ping An Insurance Group Co of China Ltd , China’s largest insurer by market value, on Wednesday reported its first annual fall in profit since 2008, as COVID shutdowns hampered business...
Feb 2 2021 // Cyber criminals shifted away from stealing individual consumers’ information in 2020 to focus on bigger, more profitable attacks on businesses, according to a report from the Identity Theft Resource Center.The...
Jan 29 2021 // Losses from cryptocurrency theft, hacks and fraud fell 57% last year to $1.9 billion, as market participants boosted security systems, but crime in the “decentralized finance” space continued to grow, a report...
Jan 29 2021 // During an upbeat earnings call focused on how RenaissanceRe is using $1 billion of capital it raised last year in 2021, the CEO highlighted one negative development for the industry overall — inadequate estimates of...
Jan 28 2021 // W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed to rate hikes, bigger investment returns and ongoing underwriting...
Jan 27 2021 // LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say.With less than six months until the...
Jan 26 2021 // Insurance agency Brown & Brown reported revenues for the fourth quarter of 2020 of $642.1 million, a jump of 10.9% or $63.1 million compared to the fourth quarter of 2019.Agency commissions and fees increased in the...
Jan 25 2021 // There were 416 natural catastrophe events globally in 2020 that resulted in economic losses of $268 billion – 8% above the average annual losses for this century, according to insurance broker Aon’s latest...
Jan 21 2021 // Property and casualty insurer Travelers Cos. Inc. reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe...
Jan 19 2021 // By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or more and in some cases doubling them, even without any increase in the concentration of...
Jan 7 2021 // What do Ulysses and his Trojan Horse, the pickpocket Fagan in Charles Dickens’ Oliver Twist and a video of Facebook’s Mark Zuckerberg touting how his company “owns” its customers have in common?They...
Jan 6 2021 // Claims adjusting and environmental risk management solutions provider, Global Risk Solutions Inc., has acquired specialist energy sector adjusting and consultancy firm R Winkler & Co., based in Sugar Land, Texas.Terms...
Jan 6 2021 // Insured losses for the Australian bushfires of 2019/2020 rose to A$1.866 billion (US$1.441 billion), according to estimates issued by PERILS, the independent Zurich-based organization that provides industry-wide...