All the headlines from our Profit Loss Topic Page, ordered by recency.
Oct 15 2024 // Progressive Corp. said it’s third quarter 2024 net income more than doubled compared to last year, to about $2.3 billion.Progressive said it took a hit of $563 million in catastrophe losses in September from...
Oct 15 2024 // Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co.The estimate includes losses from wind, storms surge, and inland flooding to personal,...
Oct 15 2024 // The Singapore government will block a proposed S$2.2 billion ($1.7 billion) deal by Allianz SE to buy a majority stake in a homegrown insurance firm, three months after the transaction sparked a public backlash.The...
Oct 15 2024 // Moody’s RMS said private insurers can expect to dole out between $35 billion and $55 billion for hurricanes Milton and Helene.A final industry-loss estimate for Hurricane Milton, a Category 3 that struck Siesta Key,...
Oct 11 2024 // Fitch Ratings expects Hurricane Milton to cause between $30 billion and $50 billion in insured losses to push total industry losses in 2024 above $100 billion for the fifth straight year.The range of losses expected by...
Oct 9 2024 // Catastrophe modeler Verisk predicted wind, storm surge and flooding from last month’s Hurricane Helene will cause insured losses of between $6 billion and $11 billion.The estimate does not include losses to the...
Oct 9 2024 // Investors in catastrophe bonds are girding themselves for substantial losses as the combined destructive force of Hurricanes Helene and Milton looks set to trigger payment clauses on a scale not seen in years.Two weeks...
Oct 9 2024 // Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said.The...
Oct 7 2024 // Total insured loss from Hurricane Helene is now estimated at between $10.5 billion and $17.5 billion—a figure that continues to grow as more damages are assessed, pushing catastrophe modelers to continually revise...
Oct 7 2024 // Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage.Privately insured loss from Hurricane Francine...
Oct 4 2024 // Softbank Group Corp., facing a $440 million lawsuit from Credit Suisse, said the bank was to blame for some of the investor losses tied to the collapse of Greensill Capital.In the latest stage of the long-running dispute,...
Oct 4 2024 // AccuWeather has increased its estimate of the total damage and economic loss from Hurricane Helene in the U.S. to between $225 billion and $250 billion.The range makes Hurricane Helene one of the most damaging and...
Oct 3 2024 // Karen Clark & Co., the well-regarded storm modeling and analytics firm, estimated that privately insured losses from Hurricane Helene will be about $6.4 billion – from wind, storm surge and inland flooding in nine...
Oct 2 2024 // Insured industry losses from the flooding in the Czech Republic, Poland and Austria in September 2024 will range from €2 billion (US$2.2 billion) to €3 billion (US$3.4 billion), according to Verisk, the data analytics...
Sep 30 2024 // Estimates of insured losses from Hurricane Helene continue to range around $5 billion, not including flood insurance losses, as the death toll in the Southeast continued to rise, reaching 107 by Monday morning.In Florida,...
Sep 27 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...
Sep 27 2024 // Cybersecurity claims reported in recent years vary sharply, with larger claims reaching $500 million of data loss and smaller claims as low $1,000.NetDilligence released its annual report, which analyzes 10,464 claims from...
Sep 26 2024 // State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis.The outlier result came even as...
Sep 18 2024 // U.S. private market insured losses from Hurricane Francine are estimated to not exceed $2 billion, Moody’s RMS Event Response team said.Losses to the National Flood Insurance Program from the hurricane are estimated...
Sep 17 2024 // The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage.Credit rating agency...