All the headlines from our Profit Loss Topic Page, ordered by recency.
Mar 8 2021 // If the nearly 4.3 million residential homes (1-4 units) across the country with substantial flood risk were to be insured through the National Flood Insurance Program (NFIP), the NFIP rates would need to increase 4.5 times...
Mar 5 2021 // Damage costs and economic losses from the intense winter storm that hit the country in mid-February may rise to as much as $130 billion in Texas alone, according to AccuWeather. That figure is up from the $50 billion to...
Mar 4 2021 // LONDON – A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to losses for insurers and banks that have done business with the UK-based supply chain finance firm if its...
Mar 4 2021 // Root Inc.’s second earnings report as a public company reveals that the digital auto insurance startup continues to lose substantial amounts of money but it is generating substantial premium and customer growth...
Mar 3 2021 // British insurer Hiscox reported a big loss for 2020 after a jump in claims from businesses disrupted by the COVID-19 pandemic and also faces “brand damage” from a legal dispute over policy wordings for...
Mar 1 2021 // It’s likely that insured losses in Texas from Winter Storm Uri, which overwhelmed the state in mid-February, will climb into the $10 billion to $20 billion range, according to catastrophe modelers and insurance...
Mar 1 2021 // With GEICO’s 2020 underwriting profit more than doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income was in the black, even though the...
Mar 1 2021 // Real estate software maker RealPage has been denied a $6 million computer crime insurance coverage claim because the stolen funds were not in its possession but were instead being held by a payment processing firm at the...
Feb 26 2021 // UK insurer RSA has reported a 2020 business operating result of £751 million ($1.1 billion), up 15% from £656 million ($926 million) reported during 2019.The group paid out some £4.6 billion ($6.5 billion) in...
Feb 25 2021 // Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year.The reinsurer’s Q4 2020 profit dropped to €212...
Feb 25 2021 // Texas’s deep freeze and power outages last week could cost as much as $90 billion in losses, and most of it could have been avoided, according to Enki Research disaster modeler Chuck Watson.Arctic cold brought ice...
Feb 25 2021 // AXA reported net income of €3.16 billion (US$3.8 billion) during 2020, an 18% drop from €3.86 billion (US$4.7 billion) in full-year 2019.The combined ratio for AXA’s P/C business increased 3.2 points to 99.5%,...
Feb 25 2021 // Liberty Mutual reported net income of $162 million for the fourth quarter and $758 million for the full year 2020, versus a fourth quarter net loss of $301 million and net income $1.037 billion for full year 2019Liberty...
Feb 22 2021 // If the nearly 4.3 million residential homes (1-4 units) across the country with substantial flood risk were to be insured through the National Flood Insurance Program (NFIP), the NFIP rates would need to increase 4.5 times...
Feb 22 2021 // QBE officially announced a $1.5 billion bottom-line net loss for 2020 late last week, confirming a figure the Australia-based insurance group pre-announced in late mid-December.The result represents nearly $1 billion...
Feb 22 2021 // Uber Technologies Inc.’s defeat in a UK legal battle over the way it treats its drivers is set to trigger a wave of complaints from workers across the region.Britain’s Supreme Court ruled Friday that Uber must...
Feb 22 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 21 2021 // Insurers could suffer record first-quarter catastrophe losses after the historic Texas winter storm, which crippled the state’s electrical grid and caused extensive property damage including collapsed roofs and...
Feb 19 2021 // The homeowners insurance industry is poised to shift to a modest underwriting loss for 2020, reports Fitch Ratings, citing losses from natural catastrophes and managing operations amid the global pandemic.However, barring...
Feb 19 2021 // Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the coronavirus pandemic, but declared a dividend as the reinsurer expects a return to profit in...