Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Personal Auto Driving P/C Insurers to 2024 Underwriting Profit
Aug 19 2024 // S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to...
Auto Insurance Shopping Elevated As Loss Costs Potentially Moderate
Aug 16 2024 // As industrywide auto insurance loss costs appear to be moderating, consumers continue to shop policies at elevated rates, according to the latest quarterly Insurance Personal Lines and Perspectives report from...
Karen Clark Puts Insured Losses from Debby at $1.4 Billion
Aug 15 2024 // Hurricane Debby caused almost $1.4 billion in privately insured losses as it moved across the East Coast this month. That’s about half of the losses incurred in Hurricane Idalia, a stronger storm that followed a...
UK Insurer Aviva Beats Earnings Forecasts on Home, Motor Insurance Price Hikes
Aug 14 2024 // British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets. The life and general...
West Virginia Governor Touts 20th-Straight Workers’ Comp Loss Cost Decrease
Aug 13 2024 // The National Council on Compensation Insurance is recommending a 9.1% decrease in workers’ compensation loss cost projections for the West Virginia voluntary market. If approved by regulators, it would mark the 20th...
Insured Losses From UK Riots Will Be Manageable, With Claims Below £250M: Report
Aug 13 2024 // Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market...
Hawaiian Electric Pegs Loss at $1.7 Billion From Maui Fire
Aug 12 2024 // Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning. Hawaiian Electric said last...
Generali Profit Falls as Europe Flooding Hurts Non-Life Results
Aug 12 2024 // Assicurazioni Generali SpA’s second-quarter profit fell 24% from a year earlier, as claims from storms and flooding in Europe weighed on results. Net income in the three months through June declined to €797 million...
Gallagher Re: Insured Losses From Hurricane Debby to Be ‘Very Manageable’
Aug 12 2024 // Insurers and reinsurers’ losses from Hurricane Debby are expected to be in the low single-digit billions of dollars, a figure that would be “very manageable” for the industry, according to a report from...
Update: Australia’s QBE More Than Doubles First-Half Profit, but Misses Estimates
Aug 9 2024 // Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six months...
Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit
Aug 8 2024 // Liberty Mutual Holding Co. continued to put 2023’s losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of $585 million for...
Heritage Sees Improved Profits, Plans to Resume Writing in Florida, Other States
Aug 8 2024 // Tampa-based Heritage Insurance, enjoying improved profits for the second quarter this year, said it plans to resume writing new policies in Florida and Northeastern states, two years after it ceased new business in the...
European Insurers Enjoy Big Profits After Premium Hikes
Aug 8 2024 // Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher...
UK Insurer Beazley Upgrades 2024 Forecast After H1 Profit Nearly Doubles
Aug 8 2024 // British insurer Beazley upgraded its combined ratio forecast for 2024 on Thursday after first-half pretax profit nearly doubled, boosted by growth in its property risks premiums and fewer catastrophe losses, sending its...
Update: Zurich Insurance Tops Profit Forecast, on Track to Beat 2025 Targets
Aug 8 2024 // Zurich Insurance posted a record first-half operating profit on Thursday and said it was on track to beat its 2025 targets, but concerns about natural catastrophe losses sent its shares lower. Insurers have benefited from...
Severe Storms (Mostly in US) Account for 70% of Global Insured Natural Disaster Losses
Aug 8 2024 // Global insured losses from natural catastrophes totaled US$60 billion during the first half of 2024, or 62% above the 10-year average, according to preliminary estimates from Swiss Re. Severe thunderstorms (mainly in the...
Flooding in Carolinas as Wind Losses Expected to Stay Below Re Retentions
Aug 7 2024 // Debby, downgraded to a tropical storm Tuesday, is expected to bring as much as 25 inches of rain and more flooding to parts of the Carolinas this week, exacerbating uninsured flood damage but keeping wind losses within...
Hurricane Debby Brings Six Deaths, Widespread Flood Losses in Florida, Georgia, SC
Aug 6 2024 // Hurricane Debby left at least six people dead Monday along with widespread flooding in the same parts of Florida and Georgia that were swamped by Hurricane Idalia less than a year ago. Debby made landfall near...
Singapore Monetary Authority Defends Allianz’s $1.7B Plan to Buy Income Insurance
Aug 6 2024 // Singapore ministers addressed concerns about Allianz SE’s plan to buy a majority stake in Income Insurance Ltd., saying it would be held to account on its commitments and that the potential deal isn’t expected...
Proper Profit Center Accounting
Aug 5 2024 // Do owners really know which departments or lines of business are making money in their agency? What are small commercial accounts costing the agency? How can the agency make personal lines more profitable? When is it time...
