All the headlines from our Profit Loss Topic Page, ordered by recency.
Sep 3 2024 // Insured losses have surged in the past decade as climate change in Canada sparks wildfires, intense hailstorms and thunderstorms with severe flooding in major cities.Insured losses from natural disasters averaged C$2.2...
Sep 2 2024 // Global insured losses from natural catastrophes totaled US$60 billion during the first half of 2024, or 62% above the 10-year average, according to preliminary estimates from Swiss Re.Severe thunderstorms (mainly in the...
Aug 29 2024 // The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report.“After years of consistent losses,...
Aug 29 2024 // Southern California Edison, a unit of utility Edison International said on Thursday it was seeking approval for a settlement agreement to recover nearly 60% of losses related to wildfires and mudslides in 2017 and...
Aug 28 2024 // This summer’s devastating wildfire in Jasper, Canada resulted in more than C$880 million (US$653.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting data provided by Catastrophe...
Aug 23 2024 // Ping An Insurance (Group) Co. said profit rose nearly 7% in the first half, after a stock-market recovery helped bolster investment returns at China’s second-largest insurer by market value.Net income climbed to 74.6...
Aug 22 2024 // Corporate risk managers looking to gauge the likelihood that their directors and officers will be sued and how much that might cost have a new digital tool to help them.Global insurance broker Aon has launched its...
Aug 22 2024 // Swiss Re AG’s first-half net income beat estimates, as the re-insurer avoided higher claims from natural catastrophes that have impacted the broader insurance industry.Profit for the second quarter was $996 million,...
Aug 21 2024 // Losses in Puerto Rico from Hurricane Ernesto are expected to be absorbed by the island’s domiciled insurers, according to industry rating AM Best.Initial feedback from AM Best-rated insurers—though it is early in...
Aug 19 2024 // A strategy that’s delivered specialist investors huge returns is now facing scrutiny, amid concerns that its risk-reward dynamics might be skewed against some issuers.Catastrophe bonds, which are issued by insurers,...
Aug 19 2024 // The U.S. homeowners insurance segment suffered a $15.2 billion underwriting loss in 2023, more than double the loss in the previous year and the line’s worst underwriting results since at least 2000, according to a...
Aug 19 2024 // Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely between $300 million and $1...
Aug 19 2024 // S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021.According to...
Aug 16 2024 // As industrywide auto insurance loss costs appear to be moderating, consumers continue to shop policies at elevated rates, according to the latest quarterly Insurance Personal Lines and Perspectives report from...
Aug 15 2024 // Hurricane Debby caused almost $1.4 billion in privately insured losses as it moved across the East Coast this month. That’s about half of the losses incurred in Hurricane Idalia, a stronger storm that followed a...
Aug 14 2024 // British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets.The life and general...
Aug 13 2024 // The National Council on Compensation Insurance is recommending a 9.1% decrease in workers’ compensation loss cost projections for the West Virginia voluntary market. If approved by regulators, it would mark the 20th...
Aug 13 2024 // Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market...
Aug 12 2024 // Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning.Hawaiian Electric said last...
Aug 12 2024 // Assicurazioni Generali SpA’s second-quarter profit fell 24% from a year earlier, as claims from storms and flooding in Europe weighed on results.Net income in the three months through June declined to €797 million...