All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 26 2024 // Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million reported in Q2 2023.Adjusted net income attributable to Aon shareholders increased 9% during...
Jul 25 2024 // Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday.A software bug in cybersecurity firm CrowdStrike’s...
Jul 25 2024 // The West Virginia insurance commissioner is reminding all state and local governments and non-profit organizations that they could face penalties if they fail to obtain flood insurance on properties in flood hazard...
Jul 25 2024 // WTW reported second quarter net Income of $142 million, an increase of 48% compared to net income of $96 million in the prior-year second quarter.Q2 adjusted net income rose 20% to $263 million, from $219 million reported...
Jul 24 2024 // The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates.The portion of the...
Jul 24 2024 // DAYTONA BEACH, Fla. (AP) — Florida-based Brown & Brown Inc. (BRO), one of the largest U.S. insurance brokerages, this week reported second-quarter net income of $257 million, up from $190 million for the second...
Jul 24 2024 // W.R. Berkley CEO W. Robert Berkley, Jr. said the company does not see last week’s global network systems outage “being a material loss to the organization.”“I would be surprised if we didn’t...
Jul 24 2024 // Chubb said second quarter net income was up more than 24% to about $2.2 billion despite higher catastrophe losses than a year ago.Catastrophe losses for the second quarter were $580 million, pretax, compared to $400...
Jul 23 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...
Jul 22 2024 // US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, US SCS accounted for a...
Jul 19 2024 // Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said.Beryl made landfall...
Jul 19 2024 // The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion.The New York-based...
Jul 19 2024 // Allstate Corp. said it recorded pretax catastrophe losses of about $2.1 billion in the second quarter.The Northbrook, Illinois-based insurer on July 18 said the total included $230 million of pretax catastrophe losses for...
Jul 18 2024 // Insurance broker Marsh McLennan reported second quarter net income of $1.125 billion, an 8.7% increase from $1.035 billion reported during Q2 2023. Operating income rose 13% to $1.6 billion.Q2 earnings per share increased...
Jul 18 2024 // The recent floods in southern Germany will cost insurers an estimated €1.568 billion (US$1.7 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance...
Jul 17 2024 // Allianz SE agreed to buy a majority stake in Singapore’s Income Insurance Ltd. for about S$2.2 billion ($1.6 billion) to strengthen its presence in Asia.The German company plans to acquire at least 51% of Income...
Jul 16 2024 // U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion to $4.5 billion, according to estimates by Moody’s RMS Event Response. Insured losses associated with the storm include wind, storm...
Jul 16 2024 // Last month, amid reports that Hurricane Beryl would become the earliest Category 5 hurricane in history, a group of money managers were busy trying to figure out whether their highly calibrated bets centered on natural...
Jul 16 2024 // Progressive Corp. today reported second quarter 2024 results of about $1.5 billion and a combined ratio of 91.9.Results for the Mayfield Village, Ohio-based insurer are in comparison to second quarter 2023 net income of...
Jul 16 2024 // Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025,...