Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
China’s Ping An Insurance Reports 4.3% Drop in Q1 Net Profit
Apr 24 2024 // Ping An Insurance’s first-quarter net profit fell 4.3%, hit by shrinking returns from property and casualty insurance as well as its asset management operations, the Chinese insurance giant reported on...
Chubb Records 13.3% Uptick in Q1 Net Income on Underwriting
Apr 23 2024 // Chubb started 2024 off with first quarter net income up 13.3%, compared to the same time a year ago, to about $2.1 billion. The first three months of 2024 followed a year Chubb CEO Evan G. Greenberg called the “best...
W.R. Berkley Reports 50.4% Increase in Q1 Net Income
Apr 23 2024 // First quarter net income at W.R. Berkley Corp. increased about 50% compared to the same period the prior year to about $442.5 million on pretax underwriting income growth of 31.8% to $309 million. The Greenwich,...
Strong Prices Support London Market Profits, Prompting Revision in AM Best Outlook
Apr 22 2024 // The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise its outlook for the segment...
Allstate Reports $731M in Q1 Pretax Catastrophe Losses
Apr 19 2024 // Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March. Six events contributed to the $343 million total for March — before favorable reserve re-estimates...
Time-Tested Loss Reserving Methods Challenged: AM Best
Apr 19 2024 // Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said...
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers
Apr 19 2024 // With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported $1.1 billion in net...
Marsh McLennan Reports Better Than Expected First Quarter Profit
Apr 18 2024 // Marsh McLennan reported a better-than-expected quarterly profit on Thursday, helped by an increase in interest income the insurance brokerage earned from funds held on behalf of clients. The company’s shares rose...
Accuweather: Record Warm Winter Costs Businesses Billions in Losses
Apr 18 2024 // Unseasonably warm winter weather cost businesses and event planners in the northern Plains and upper Midwest billions of dollars in estimated losses, according to estimates from Accuweather. Minnesota, North Dakota,...
Travelers CEO on Q1 Results: ‘We’re Firing On All Cylinders’ With Net Income Up 16%
Apr 17 2024 // The Travelers Companies, Inc. today reported first quarter net income of $1.123 billion, compared to $975 million in the prior year quarter. Core income in the current quarter was up 14% to $1.096 billion, compared to $970...
Time-Tested Loss Reserving Methods Challenged: AM Best
Apr 17 2024 // Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said...
Fitch: U.S. Cyber Insurers Saw Strong Profits, Slowdown in Premium Growth in 2023
Apr 16 2024 // The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings...
Insurer Bowhead Specialty’s IPO Filing Shows Profit More Than Doubled in 2023
Apr 15 2024 // Bowhead Specialty Holdings disclosed on Friday that its net profit more than doubled in 2023, as the insurance underwriting company made its IPO filing public amid a rebound in fresh U.S. listings. The U.S. initial public...
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...
What Industry Executives Are Saying About Loss Reserves, Social Inflation
Apr 15 2024 // Executives at carriers and reinsurers that announced reserve loss charges taken during fourth-quarter 2023, and even at some that did not, discussed the “problematic accident years” and lines of business,...
The New Norm? Global Insured Losses for Nat Cats Keep Breaking Records: Swiss Re
Apr 15 2024 // Global insured losses from natural catastrophes in 2023 exceeded US$100 billion for the fourth consecutive year — an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Apr 15 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
R&Q to Sell Stake in Obra Joint Venture for $30M, Expects “Significant Pre-Tax Loss”
Apr 12 2024 // R&Q Insurance Holdings, (R&Q) the Bermuda-based non-life speciality insurer that focuses on program management and legacy insurance business, announced it has agreed to sell its stake in a joint venture with Obra...
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 86.1 Last year, net income for the first three months at the Mayfield Village, Ohio-based insurer...
Global Election Super-Cycle Raises Risk of Political Violence, Large Insurance Losses
Apr 11 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 new report. An...
