All the headlines from our Profit Loss Topic Page, ordered by recency.
Jun 13 2024 // Thousands of delivery drivers filed legal claims against Amazon, alleging the company’s classification of them as independent contractors instead of employees has led to unpaid wages and other financial losses.Two...
Jun 10 2024 // The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved...
Jun 7 2024 // A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles.Mitchell this week released its Q1 2024 trends report: Plugged-In: EV Collision Insights. The report...
Jun 4 2024 // Insurers are preparing for an above-average loss event as a result of floods in southern Germany.“The pictures from Bavaria and Baden-Württemberg foreshadow the worst. Our companies are already receiving many claims...
Jun 4 2024 // Mark Tuttle planted more soy and less corn on his northern Illinois farm this spring as prices for both crops hover near three-year lows and soybeans’ lower production costs offered him the best chance of turning a...
Jun 3 2024 // USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion.The San Antonio, Texas-based reciprocal exchange said revenue...
Jun 3 2024 // According to the Insurance Research Council (IRC), the average homeowners insurance expenditure has become less affordable for U.S. consumers over time.Looking at the the years 2001 to 2021 — the latest year in which...
Jun 3 2024 // Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines.However, the workers’ compensation line...
Jun 3 2024 // Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense payments, according to...
May 31 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report.The Best’s Special...
May 28 2024 // Petcare, food and candy company Mars Inc. has lost its bid to revive its claims against Factory Mutual Insurance Co. for business interruption losses it incurred during the coronavirus pandemic.The Fourth Circuit Court of...
May 28 2024 // In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over...
May 28 2024 // Almost two decades after it was established by the Mississippi Legislature, a storm and flood-mitigation grant program now has some funding – $5 million to be transferred from the Mississippi Surplus Lines...
May 24 2024 // Singapore’s Income Insurance Ltd. is exploring options as it looks to expand across the Asia Pacific region, including possibly tying up with a partner or selling a stake, according to people familiar with the...
May 20 2024 // The destructive windstorm that blew out windows in downtown Houston and left hundreds of thousands of southeast Texas residents without power caused upwards of $5-7 billion in total damage and economic loss, according to...
May 20 2024 // TUSCALOOSA, Ala. (AP) — A decisive vote against the United Auto Workers union at two Mercedes factories in Alabama on Friday sidetracked the UAW’s grand plan to sign up workers at nonunion plants mainly in the...
May 20 2024 // Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024.Q1 natural...
May 20 2024 // Almost half the world’s population will go to the polls before the end of 2024, which raises the threat of political violence and possible large insurance losses, according to Allianz Commercial in a recent report.An...
May 17 2024 // The explosion that rocked Marathon Petroleum Corp.’s Galveston Bay oil refinery one year ago trapped Rigoberto Guillen 75 feet in the air. Stranded on a metal platform, he and a colleague crouched low as black smoke...
May 16 2024 // Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review.The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024. Nevertheless,...