Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils
May 19 2025 // Global insured losses from natural catastrophes hit $137 billion in 2024, following the 5%-7% annual growth rate that has been the norm in recent years, according to Swiss Re analysis. If this trend continues, global...
Swiss Re Profits Up Despite Losses from California Wildfires
May 16 2025 // Swiss Re AG’s profit rose in the first quarter as losses from the California wildfires were offset by positive performance across the business. Net income increased to $1.3 billion from $1.1 billion a year earlier,...
Ice Cream Sandwich Maker Blames Agent for Lack of Recall Insurance After $4.5M Loss
May 14 2025 // The maker of Chipwich ice cream sandwiches is suing its insurance broker alleging the agency was negligent in failing to properly secure product recall insurance that would have helped it deal with what it claims is a $4.5...
German Reinsurers Report Q1 Profits Down Sharply on Los Angeles Wildfire Claims
May 13 2025 // Germany’s largest reinsurers, Munich Re and Hannover Re, reported sharp declines in first-quarter profit on Tuesday after a combined 1.7 billion euros ($1.89 billion) in claims relating to the Los Angeles wildfires...
Why Trump’s Plan to Stop Tallying Weather Losses Matters to the Insurance Industry
May 9 2025 // Extreme weather is an increasingly expensive problem in the US. Last year, fires, droughts and storms caused more than $182 billion in damages — but going forward, the federal government won’t be keeping track. The...
Liberty Mutual Q1 Net Income Down 33%
May 8 2025 // Liberty Mutual Holding Company Inc. booked consolidated first quarter 2025 net income of about $1 billion, down about 33% from the same period a year ago. Catastrophe losses for the first three months of 2025—driven by...
Root Builds on First Profitable Year With Reversal of Q1 Loss to Start 2025
May 8 2025 // Root Inc. reported first quarter net income of $18.2 million to build off results of 2024—its first profitable year. The net profit for the first three months of 2025 is compared to a net loss of $6.2 million for Q1 2024...
Zurich Insurance P/C Revenue Rises in 1st Quarter; Targets Affirmed
May 8 2025 // Zurich Insurance reported higher first-quarter revenue and gross written premiums at its core property/casualty (P/C) business on Thursday, maintaining its targets despite instability in the crucial U.S....
NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years
May 6 2025 // A net 30,000 New Yorkers fled the city for Florida’s Palm Beach and Miami-Dade counties in the five years through 2022, taking with them a combined $9.2 billion in income, a new report shows. The two Florida counties...
Lemonade Posts Q1 Loss on Wildfires, Spending; Auto Product Positioned to Grow
May 6 2025 // Insurtech Lemonade reported a first quarter 2025 net loss of about $62.4 million compared to a loss of $47.3 million a year ago during the same time. The decline, according to a letter to shareholders, was due primarily to...
Q1 Net Income at CNA Financial Down 19%
May 5 2025 // CNA Financial Corporation reported first quarter net income of $274 million, down 19% from the same period a year ago. CNA’s property/casualty operations booked net income of $311 million, with underwriting income of...
Staff Cuts Help Fuel GEICO Profit; Auto Insurer Not ‘Pouring Money’ Into AI
May 5 2025 // He’s not yet ready to declare “mission accomplished,” but Ajit Jain, vice chair of Berkshire Hathaway’s insurance operations, said the conglomerate’s personal auto insurer, GEICO, is no longer...
Travelers Income Drops 65% on Catastrophe Losses, Primarily California Wildfires
May 5 2025 // The Travelers Cos. said first-quarter 2025 fell 65% on an underwriting loss of $305 million. Travelers posted first-quarter net income of about $395 million compared to about $1.1 billion during Q1 2024. The underwriting...
Minnesota Bill Would Create Auto Insurance Program for Low-Income Residents
May 5 2025 // Minnesota lawmakers have introduced a bill that would establish a low-cost auto insurance program for low-income residents. HF 2215 would establish the Minnesota Lifeline Insurance Program, a state-sponsored, alternative...
APCIA, IBHS Testify Before Senate Committee on Loss Mitigation
May 2 2025 // During a Senate committee hearing focusing on insurance and loss mitigation efforts, industry representatives said that all levels of government play a role. “Where government regulation and infrastructure allow...
AIG Q1 Underwriting Income More Than Halved on Wildfire Losses
May 1 2025 // First quarter underwriting income in AIG’s General Insurance segment dropped 59% compared to last year, to $243 million. The unit—North America commercial, International commercial, and global personal—recorded...
The Hanover Reports 11% Growth in Q1 Net Income
May 1 2025 // First quarter net income for The Hanover Group grew to $128.2 million compared to $115.5 million during the same period a year ago. The Worcester, Massachusetts-based insurer’s Q1 combined ratio was 94.1, and...
Allstate Q1 Income Drops 52% on Record $3.3B Gross Catastrophe Losses
May 1 2025 // Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due to a record $3.3 billion of gross catastrophe losses. The gross loss was partially offset by...
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils
Apr 30 2025 // Global insured losses from natural catastrophes hit US$137 billion in 2024, following the 5%-7% annual growth rate that has been the norm in recent years, according to Swiss Re analysis. If this trend continues, global...
Loss of FEMA Program Spells Disaster for Hundreds of Communities and Projects
Apr 30 2025 // The textile mills that once served as the backbone of Mount Pleasant, North Carolina, have long been shuttered, and officials believed federal money would be key to the town’s overdue revitalization. They hoped an...
