Most Popular Profit Loss Headlines This Year

The most viewed headlines from our Profit Loss Topic Page over the last year.

#1 State Farm Sets Another Record With $14B Underwriting Loss in 2023

Mar 1 2024 // A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023.The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion...

#2 GEICO’s ‘Eye-Popping’ 2023 Insurance Profits, Falling Employee Counts

Feb 26 2024 // Even though Berkshire Hathaway’s latest annual report featured Warren Buffett’s forecast that the days of “eye-popping performance” for the giant conglomerate are over, readers focused on...

#3 State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P

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...

#4 Allstate Reports $276M in January Cat Losses, Updates Rate Increases

Feb 15 2024 // Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million.The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low...

#5 Progressive Q4 Net Income Up 141% as Combined Ratio Exceeds Goal for 2023

Jan 24 2024 // Progressive Corp. today said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period.The Mayfield Village, Ohio-based insurer reported some quarterly and...

#6 Insurance Industry Readies for Historic Losses From Baltimore Bridge Tragedy

Mar 29 2024 // It’s very early in the recovery process and already the numbers are large.Insured losses for the tragic collapse of the Francis Scott Key Bridge in Baltimore could be as much as $2 billion to $4 billion, according to...

#7 US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best

Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...

#8 Progressive Q2 Net Income Skyrockets Over 320%

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...

#9 Travelers Triples Q3 Net Income, Reverses Underwriting Loss

Oct 17 2024 // Travelers on Thursday said third quarter net income was $1.26 billion compared to net income of $454 million during the same period a year ago on record net premiums, favorable prior year reserve development, and higher...

#10 Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses

Sep 6 2024 // New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition.The report laid out dozens of...

#11 5th Circuit Reverses Class Certification in Lawsuit Alleging State Farm Undervalued Total-Loss Claims

Dec 28 2023 // A federal appellate court reversed a trial court’s decision to certify a class of plaintiffs in a lawsuit that alleged State Farm Mutual Automobile Insurance Co. undervalued total-loss claims by Louisiana claimants.A...

#12 Cargo Owners in Baltimore Disaster Face ‘General Average’ Loss Sharing, MSC Says

Apr 15 2024 // The owner of the ship that destroyed Baltimore’s Francis Scott Key Bridge has started a formal process in which companies that own goods on the stricken Dali will have to share some of the financial losses, according...

#13 Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Strong Q1 Net Income of $1.1B

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,...

#14 US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months

Dec 8 2023 // U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion.The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same...

#15 Allstate Reverses Q4 Loss With Benefit of Low Cat Losses, Auto Rate Increases

Feb 8 2024 // Allstate Corp. fourth quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year.Allstate CEO Tom Wilson said “improved...

#16 Baltimore Bridge May Trigger Historic Marine Loss, Lloyd’s of London Says

Mar 28 2024 // Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John...

#17 Travelers’ Q4 Net Income Skyrockets as Personal Lines Reverses Underwriting Loss

Jan 19 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time last year to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...

#18 Progressive Records Five-Fold Increase in Q1 Net Income

Apr 12 2024 // Progressive Corp. today reported strong first quarter 2024 results with net income of $2.3 billion and a combined ratio of 86.1Last year, net income for the first three months at the Mayfield Village, Ohio-based insurer...

#19 Progressive to Pay $48M to New York Drivers Over Underpaid Total Loss Claims

Jul 5 2024 // Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles.The $48 million represents approximately...

#20 Allstate Reports May Pretax Catastrophe Losses of $1.4B

Jun 20 2024 // Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion.The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70%...