Best Read Profit Loss Headlines
Headlines from our Profit Loss Topic Page with the most time spent reading.
#1 Florida Agriculture Losses from Idalia Reach $78M to $371M, Study Says
Sep 25 2023 // ST. PETERSBURG, Fla. (AP) — Florida agriculture losses from Hurricane Idalia are estimated at between $78 million and $371 million, with farmers also suffering widespread damage to such infrastructure as irrigation...
#2 Allstate Records About $640M in August Cat Losses, Half From Maui Wildfire
Sep 21 2023 // Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire. The losses for the month of August were $551 million or $435 million, after-tax, partially...
#3 USDA Expands Whole Farm Revenue Protection, Micro Farm Insurance Plans
Sep 14 2023 // The U.S. Department of Agriculture’s Risk Management Agency (RMA) announced changes to the Whole Farm Revenue Protection (WFRP) and Micro Farm Insurance plans in an effort to increase participation and access to crop...
#4 AM Best Revises US Homeowners Insurance Segment to Negative as Losses Persist
Sep 18 2023 // The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance...
#5 Clorox’s First-Quarter Results Could See ‘Material Impact’ From Cyber Attack
Sep 18 2023 // Pine-Sol maker Clorox said on Monday its first-quarter results could see a “material impact” from a cybersecurity attack last month that damaged portions of its IT infrastructure and caused widescale disruption...
#6 Hong Kong’s Floods to Hit Insurers’ Earnings, Could Pressure Reinsurance Renewals
Sep 18 2023 // The recent devastating floods following Super Typhoon Saola in Hong Kong and other parts of China may add further pressure to the upcoming reinsurance renewals in January, according to an AM Best commentary. The overall...
#7 Target Closes Nine NYC, West Coast Stores to Stop Losses From Rising Theft
Sep 27 2023 // Target Corp. is closing nine stores in four states to stem losses from rising retail theft. One Manhattan location will be shuttered, along with two in Seattle, three in Northern California and three in Portland, Oregon,...
#8 Probe Opened Into Hyundai Ioniq 5 EVs Over Power Loss Reports
Jun 20 2023 // U.S. auto safety regulators are investigating nearly 40,000 Hyundai Ioniq 5 electric vehicles over reports of power loss while driving tied to a battery charging issue. The National Highway Traffic Safety...
#9 Texas Comptroller: State Revenue Driven by Increasing Insurance Premiums
Sep 29 2023 // When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget...
#10 First-Half P/C Underwriting Loss Just $2B Shy of Loss for All of 2022
Sep 12 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to a new AM Best...
#11 Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch
Aug 18 2023 // Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market...
#12 Florida Insurers Show a Little Profit in 2023 But Two Join the Watch List
Jul 11 2023 // Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state...
#13 Berkshire Hathaway Reports $12.8B Loss as Investments Fall; Insurance Performed Well
Nov 6 2023 // Warren Buffett`s company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns – particularly the insurers – generally performed...
#14 ANALYSIS: As Bayer Confronts Mounting Roundup Losses, All Eyes on Philadelphia Trial
Dec 5 2023 // With Bayer facing investor pressure to resolve thousands of lawsuits over its Roundup weedkiller after being hit with $2 billion in verdicts in recent weeks, all eyes are on a trial wrapping up in Philadelphia. Plaintiffs...
#15 KCC Estimates June Texas Hailstorm Losses at $1B
Jun 16 2023 // The impact from a June hailstorm over Texas with baseball to softball-sized hail is expected to cause over $1 billion in insured losses, according to catastrophe modeling firm Karen Clark and Company. The storm occurred...
#16 Is Industry Prepared? Hail, Convective Storms, Population Now Driving Billions in Losses
Oct 4 2023 // Hurricanes in the East. Wildfires in the West. Those are the big disasters that grab the headlines and are driving property insurance costs and cancellations, to a large degree, right? Yes, but insurers also are seeing a...
#17 US P/C Records $8.2 Billion Underwriting Loss in Q1: AM Best
Jun 15 2023 // A rise in first quarter losses in the homeowners insurance line of business primarily put U.S. property/casualty underwriting results in the red, according to AM Best. The U.S. P/C industry booked a $8.2 billion...
#18 US Senate Committee Wants Investigation Into Florida Citizens’ Loss Reserves
Dec 1 2023 // The chairman of the U.S. Senate’s Budget Committee has begun an investigation into Florida’s Citizens Property Insurance Corp. and how the state-created insurer plans to address potential underwriting losses...
#19 Berkshire Operating Earnings Jump on Insurance Strength
Aug 7 2023 // Warren Buffett’s Berkshire Hathaway Inc. posted gains in operating profit as strength in its insurance businesses helped counter inflationary pressures that have weighed on the sprawling conglomerate in the last...
#20 Harvard Claims Marsh Is to Blame for Its Loss of $15M in Coverage for Admissions Fight
Nov 20 2023 // Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh,...
