Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
WTW Q2 Net Income Down 16%
Jul 27 2023 // Second-quarter net income at broker WTW was down 16%, compared to the same period a year ago, to $96 million. Revenue at WTW was up 6% to $2.16 billion, with organic growth up 7%. WTW Chief Executive Office Carl Hess said...
Vermont Farmers Urged to Document Crop Losses From Flooding
Jul 27 2023 // Vermont state and federal officials are urging farmers to document and report damage from the catastrophic flooding that hit the state two weeks ago and inundated crops in the rural mountainous state known for its scenic...
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...
