Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Brown & Brown Q2 Earnings Beat Expectations
Jul 26 2023 // Florida-based Brown & Brown Inc. (BRO), a global insurance broker, reported second-quarter earnings of $190.4 million. The Daytona Beach company said it had profit of 67 cents per share. Earnings, adjusted for costs...
Airlines Face Doubling in War Insurance Premiums After Sudan Losses: Sources
Jul 26 2023 // Airlines could end up paying twice as much for insurance they need to protect themselves against losses triggered by war after a bruising year wiped out aviation war insurers’ revenue for 2023, industry sources...
Chubb ‘Record’ Q2 Sees Net Income Up 50.7%
Jul 26 2023 // Chubb second-quarter net income went up 50.7% to nearly $1.8 billion and its property/casualty combined ratio came in at 85.4. “We had another simply outstanding quarter – in fact, a record, which contributed to a...
Berkley on Industry’s Financial Results: ‘Cat Losses Count’
Jul 25 2023 // The fact is, catastrophe losses are a part of an insurers’ financial results and not a line item to be dismissed, said W. Robert Berkley Jr, president and chief executive of W.R. Berkley Corp during a recent...
Elon Musk to Appeal Loss in SEC Case to Supreme Court
Jul 25 2023 // Elon Musk plans to ask the U.S. Supreme Court to consider whether the Securities and Exchange Commission overstepped its authority in enforcing a consent decree that he has called a “muzzle” on his free...
The Hanover Insurance Group Estimates Q2 Catastrophe Losses of $262 Million
Jul 21 2023 // The Hanover Insurance Group Inc. announced a preliminary estimate for second quarter catastrophe losses of approximately $262 million, before taxes, or 18.5 points of net earned premium. Second quarter catastrophe losses...
Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7 Billion in Q2
Jul 20 2023 // Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month catastrophe losses include 18 events estimated at $1.13 billion, with...
Marsh McLennan Beats Q2 Profit Estimates on Higher Interest Income
Jul 20 2023 // Marsh McLennan reported second-quarter profit above expectations on Thursday, bolstered by the higher interest the company earned from client funds. The company reported a profit of $2.20 per share, excluding one-time...
Travelers’ Q2 Profit Plummets on Historic-Level Catastrophe Losses
Jul 20 2023 // Travelers Companies Inc. on Thursday reported a 98% fall in quarterly profit, as severe wind and hailstorms in parts of the United States pushed up its catastrophe losses. Core income of the New York-based company, often...
Rain Insurance Payout Helps DICK’S Sporting Goods Open Recover Lost Revenue
Jul 19 2023 // When a rainstorm hit Endicott, New York this past weekend, the organizers of the DICK’S Sporting Goods Open PGA TOUR Champions event at En-Joie Golf Course were shielded with a rain insurance policy provided by...
Workers’ Compensation Remains Profit Engine for U.S. P/C Insurers: AM Best
Jul 18 2023 // Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace...
Liberty Mutual Announces Organizational Changes, Leading to 370 US Job Losses
Jul 17 2023 // Liberty Mutual Insurance announced major organizational changes and executive leadership appointments, which are aimed at enhancing its personal and small commercial lines business in long-term strategic markets....
US Insurance Market Forecast to Withstand Losses From Large Hurricane This Year: Fitch Report
Jul 17 2023 // With ample capital, Fitch Ratings’ latest annual ‘U.S. Hurricane Season’ report indicates U.S. property and casualty (P/C) and reinsurers can absorb losses if a large hurricane makes landfall this...
California Workers’ Comp Insurer Combined Losses and Expenses in 2022 Were $15B
Jul 17 2023 // The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022. Key findings in the report include: Medical losses paid in 2022 were...
P/C Market Won’t See Underwriting Profit Until 2024: S&P
Jul 14 2023 // After four years of unparalleled underwriting profitability ending in 2021, the property/casualty market is headed for a second straight year of underwriting losses, according to the newly released S&P Global Market...
Progressive Returns to Positive Net Income in Q2
Jul 13 2023 // Second quarter net income at Progressive Corp. was $345.4 million, reversing a loss of nearly $543 million during the same quarter in 2022, as net income in June was about $41 million compared to a loss of nearly $437...
Severe Weather Causes First-Half 2023 Losses of at Least $1B in Seven States: Report
Jul 13 2023 // Seven states experienced at least $1 billion in total insured severe weather loss for the first half of 2023, according to an update from BMS Group. Texas led all states with insured severe weather loss of $7.2 billion...
EU Widens Probe of Suicide Risks Linked to Weight-Loss Drugs
Jul 13 2023 // The European Union’s drug regulator expanded its investigation into a possible risk of suicidal thoughts associated with a new class of weight-loss medicines and a separate analysis found that most patients stopped...
No Liability Coverage Owed for Investor Losses Caused by Blue Bell’s Listeria Outbreak
Jul 12 2023 // A 2015 Listeria outbreak linked to ice cream sold by Blue Bell Creameries hospitalized 10 people and killed three. While those injuries and deaths were certainly “bodily injuries,” a lawsuit filed by investors...
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...
