Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Viewpoint: Are Carriers and MGAs Leaving Revenue on the Table?
Feb 19 2025 // Insurance companies spend billions of dollars a year on advertising—and for good reason. With auto insurance mandated in nearly every state and home insurance required by mortgage lenders, insurance product providers are...
Insured Losses From Calgary Hailstorm Reach C$3.25B as 2nd Costliest Canada Disaster
Feb 12 2025 // The tally for Calgary’s record-breaking hailstorm last August continues to rise, with total insured losses now estimated to be C$3.25 billion (US$2.2 billion), according to the Insurance Bureau of Canada, quoting...
Case to Clarify Economic Loss Rule Settles Days Before Fla. Supreme Court Arguments
Feb 12 2025 // A potentially landmark ruling from the Florida Supreme Court, which liability insurers had hoped would greatly expand how much they can recover in subrogation actions, will have to wait for another day. In the closely...
AIG Q4 General Insurance Underwriting Income Down 29% on Catastrophes
Feb 12 2025 // American International Group reported fourth quarter 2024 net income of $898 million compared to $86 million the prior year, but insurance underwriting income was down 29% on high catastrophe losses. AIG said the dramatic...
Travelers Expecting $1.7 Billion in Catastrophe Losses From LA Wildfires
Feb 11 2025 // Another major California insurer is reporting losses in excess of $1 billion from the Los Angeles area wildfires. The Travelers Companies Inc. announced Tuesday it will lose an estimated $1.7 billion from last...
Q4 2024 Income at CNA Drops on Pension Settlement Loss
Feb 10 2025 // CNA Financial Corp. reported fourth quarter 2024 net income of $21 million, down significantly from $367 million for the same quarter the prior year. The Chicago-based insurer said results include a $290 million after tax...
Allstate Q4 Income Up 30% Despite High Hurricane-Related Losses
Feb 5 2025 // Allstate Corp. fourth quarter net income applicable to common shareholders increased 30% to about $1.9 billion, and the insurer finished 2024 with net income of $4.6 billion compared to a loss of $316 million the prior...
California Wildfire Losses: Net or Gross?
Feb 5 2025 // The insurance industry admittedly may not be as glamorous as high-tech, investment banking, advertising, or Hollywood. After all, consider that the most influential publication on what’s happening in property &...
LA Wildfire Losses Seen as High as $164 Billion, UCLA Says
Feb 5 2025 // Economic losses from the fires that tore through Los Angeles County in January range from $95 billion to $164 billion, according to a new report, potentially making the blazes the second-costliest natural disaster in U.S....
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 26% in 2024
Feb 4 2025 // The 22 acquirers that make up the Sica Fletcher Index were involved in 533 agent-broker deals in 2024, down 6% from 2023. Members completed 146 acquisitions during the fourth quarter 2024. This was 11% less than a year...
WTW Reports Net Loss in 2024 With Organic Revenue Growth of 5%
Feb 4 2025 // WTW reported net Income for the fourth quarter of 2024 of $1.25 billion, compared to net income of $623 million in the same period in 2023. However, the broker saw a net loss for the year of $88 million, compared with net...
The Hartford Sees Q4 Net Income Rise 11%, Strengthens GL Reserves
Feb 3 2025 // Net income at The Hartford increased 11% to $848 million in the fourth quarter 2024, driven by premium growth in commercial and personal lines. Net income attributable to shareholders went up 24% for the year to $3.1...
Florida-Based Brown & Brown Reports Stronger Profits for 2024
Jan 30 2025 // DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $210 million, down from 2023’s Q4 results, but year-end results for 2024 were well above 2023’s...
Net Income at Selective Insurance Drops on Unfavorable Casualty Reserve Development
Jan 30 2025 // Selective Insurance Group reported a 24% drop in fourth quarter 2024 net income as its chief executive admitted the year did “not meet expectations.” Fourth quarter net income was $93.2 million compared to...
Progressive Net Income More Than Doubles in 2024
Jan 29 2025 // Progressive Corp. said its fourth quarter 2024 income increased 19% to about $2.4 billion compared to the same period the prior year. The Mayfield Village, Ohio-based insurer, in reporting financial results for December...
Chubb Posts Record P/C Underwriting Income for Q4 and 2024
Jan 29 2025 // Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024. Fourth quarter net income was down 22% to about $2.6 billion compared to the same period a year ago,...
US Economic Losses From Natural Disasters Soared in 2024
Jan 29 2025 // Economic losses from hurricanes and other natural disasters soared in the U.S. last year and were above average globally, reflecting another year of costly severe storms, floods and droughts. Damage caused by Hurricanes...
Everest Group Boosts Casualty Loss Reserves $1.7 Billion
Jan 28 2025 // Everest Group preannounced full-year 2024 earnings yesterday, disclosing about a 45% drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The company, which writes more than twice as...
W.R. Berkley Posts Record Year With Q4 Net Income Up 45%
Jan 27 2025 // Fourth quarter 2024 net income at W.R. Berkley Corp. jumped 45% compared to a year ago to about $576 million. For the year, the Greenwich, Connecticut-based commercial insurer said it booked record income of about $1.8...
Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’
Jan 27 2025 // Insurers saw the third most expensive year for natural catastrophe losses in 2024 — reaching a total of $140 billion — as climate change “is showing its claws,” according to Munich Re. Overall...
