Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
PG&E Misses 1Q Profit Estimates on Higher Expenses, LA Wildfire Worries Linger
Apr 24 2025 // PG&E Corp. missed first-quarter profit estimates on Thursday, as the power company was hurt by higher operating and interest expenses. Higher-for-longer interest rates push up borrowing costs for utility companies,...
Lilly Sues 4 Compounders Over Copies of Weight-Loss Drugs
Apr 24 2025 // Eli Lilly said Wednesday it had sued four compounders for selling unapproved products containing tirzepatide, after a U.S. judge last month blocked pharmacies from making copies of its weight-loss and diabetes...
Wildfire Losses Drop Chubb Q1 Net Income 38%, While Tariffs Create ‘Confusion’
Apr 23 2025 // First quarter 2025 net income at Chubb fell nearly 38% to about $1.3 billion as losses from the California wildfires overcame underlying results. Chief Executive Officer Evan G. Greenberg in a statement said the insurer...
Japanese Insurer MS&AD Plans to Invest as Much as $5 Billion to Double US Profits
Apr 22 2025 // MS&AD Insurance Group Holdings Inc. plans to invest as much as about ¥700 billion ($5 billion) to expand in the North American market, to meet its goal of doubling operating profits in the region, according to its...
Global Natural Disasters Cost Insurers $53B in Q1, With Economic Losses of $83B
Apr 21 2025 // Global natural catastrophes had an insured price tag of more than $53 billion during the first quarter of 2025 – claims driven by California’s wildfires of approximately $38 billion, or 71% of total insured losses...
AccuWeather: Severe Storms in Central US Cause $80-$90B in Damages, Economic Loss
Apr 21 2025 // A multiday severe weather outbreak in the central U.S. caused an estimated $80 billion to $90 billion in total damage and economic loss, according to a preliminary estimate from AccuWeather. From April 2 to April 6, a rare...
Wildfire Losses Increasing But Still Small Compared to Hurricanes: KCC
Apr 16 2025 // Wildfire losses in the U.S. are increasing, but the risk is still considerably smaller than hurricanes, according to a new KCC white paper. While we usually think of California and other western states—especially since...
Travelers Income Drops 65% on Catastrophe Losses, Primarily California Wildfires
Apr 16 2025 // The Travelers Cos. said first quarter 2024 fell 65% on an underwriting loss of $305 million. Travelers posted first quarter net income of about $395 million compared to about $1.1 billion during the first quarter of 2024....
Progressive Q1 Net Income Up 10%
Apr 16 2025 // First quarter net income at Progressive Corp. increased 10% compared to the same period a year ago to about $2.6 billion. Progressive reports results monthly. Net income for March was down 42% to $522 million. The Mayfield...
People Moves: World Insurance Names Robinson SE Revenue Leader
Apr 11 2025 // James “Jay” Robinson, formerly with Aon, has joined World Insurance Associates as Southeast division revenue leader, the brokerage announced. Robinson has more than 20 years of experience in the insurance...
Pennsylvania Approves Workers’ Compensation Loss Costs Drop of 8.67%
Apr 11 2025 // The Pennsylvania Insurance Department (PID) has approved a workers’ compensation filing with an 8.67% reduction in loss costs. New or renewal policies issued on or after April 1, 2025 will be subject to the new loss...
Minnesota Lawmakers Propose Auto Insurance Program for Low-Income Residents
Apr 7 2025 // Minnesota lawmakers have introduced a bill that would establish a low-cost auto insurance program for low-income residents. HF 2215 would establish the Minnesota Lifeline Insurance Program, a state-sponsored, alternative...
AccuWeather: Severe Storms in Central US Cause $80-90B in Damages, Economic Loss
Apr 7 2025 // A multiday severe weather outbreak in the central U.S. caused an estimated $80 billion to $90 billion in total damage and economic loss, according to a preliminary estimate from AccuWeather. From April 2 to April 6, a rare...
US P/C Insurance Industry Income Tops $100B in 2024: Verisk, APCIA
Apr 7 2025 // The U.S. property/casualty insurance industry reported its first full-year underwriting gain in four years, fueling a jump in net income to $170 billion, according to a joint report from Verisk and The American Property...
AM Best: US P/C Industry in 2024 Posts First Underwriting Profit in Four Years
Apr 7 2025 // For the first time in four years, the U.S. property/casualty industry will finish a year with an underwriting profit. AM Best in a “First Look” at U.S. P/C financial results said the industry left 2024 with a...
Insureds Have Post-Loss Duties Too, Florida Appeals Court Says in HCI Win
Apr 7 2025 // Florida insurers, often on the receiving end of insureds’ complaints in the courts and in the news media, may take heart from a recent ruling by a Florida appeals court, which draws a bold line under insureds’...
People Moves: World Insurance Associates Promotes Scheuer to Division Revenue Leader for Great Lakes Region
Apr 4 2025 // Katie Scheuer has been promoted to the newly created position of Division Revenue Leader for the Great Lakes Region at World Insurance Associates. She was formerly the Division Growth Leader for the Great Lakes and West...
Future of Auto Insurance: OEM-Insurer Ties Could Boost Profits, Loyalty
Apr 3 2025 // The fragmented auto insurance customer experience is set for disruption, according to a new report by Deloitte. The report, “Reinventing the insurance customer experience for loyalty,” highlights how...
Catastrophe Experts Tap AI to Tackle Soaring Insured Losses
Mar 26 2025 // Insurers are betting on a suite of new AI-driven techniques to better predict surging losses from climate-driven weather catastrophes ranging from unprecedented wildfires to hurricanes and floods. Less than three months...
Florida Senate Panel Wants More Rate Comparison, Cost, Profit Info on OIR Website
Mar 26 2025 // The Florida Office of Insurance Regulation provides a rate comparison tool on its website for homeowners’ and auto insurance, allowing consumers to view estimated premiums for limited types of properties and...
