Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
CrowdStrike Falls After Disappointing Earnings Outlook
Nov 27 2024 // CrowdStrike Holdings Inc. issued a weaker-than-expected earnings forecast, disappointing investors who have been watching for signs that the cybersecurity company has recovered from a flawed update that crashed computers...
After Tens of Billions in Insured Losses, Record-Breaking Hurricane Season Ends
Nov 27 2024 // The 2024 Atlantic hurricane season ends Nov. 30 after 18 named storms including the earliest Category 5 storm on record, and possibly one of the costliest hurricanes to the insurance industry. Of the 18 named storms, 11...
Viewpoint: As Insurance Losses Outpace Premiums, State Regulators Play a Critical Role
Nov 26 2024 // Along with the rising cost of living in many facets of families’ daily lives, property insurance availability and affordability continue to be a challenge across the U.S. Inflation has been persistently increasing...
Hyundai Issues Recalls of Electric Cars for Loss of Power, SUVs Over Wiring Issue
Nov 25 2024 // South Korean carmaker Hyundai Motor is recalling about 145,235 electrified vehicles in the United States due to a loss of drive power, the National Highway Traffic Safety Administration said on Friday. The recall includes...
Suit Claiming Racial, Income Bias in Rental Algorithm Settled for $2.2 Million
Nov 25 2024 // Mary Louis’ excitement to move into an apartment in Massachusetts in the spring of 2021 turned to dismay when Louis, a Black woman, received an email saying that a “third-party service” had denied her...
Global Non-Life Insurance Rates ‘Plateauing’ but Nat Cat Losses Delay Market Softening
Nov 22 2024 // Global non-life premiums are expected to hit a decade-high growth level of 4.3% in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s...
Commercial Lines Profit Growth: Execution Matters More Than Portfolio Mix
Nov 22 2024 // It is “how” commercial lines carriers execute their underwriting strategies, not “what” lines they write that is key to profitable growth for top performers, according to new research from...
Allstate October Catastrophe Losses of $286M Include Milton, Helene
Nov 21 2024 // Allstate today said it estimated pretax catastrophe losses of $286 million for the month of October. Losses during October included $102 million, pretax, from Hurricane Milton as well as $144 million in unfavorable reserve...
Allianz Offers 5 Loss Trends to Watch on the Liability Front
Nov 21 2024 // As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical...
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 38% YTD
Nov 21 2024 // The 22 acquirers that make up the Sica Fletcher Index were involved in 142 agent-broker deals in the third quarter to match the amount of deal from the same quarter last year. Members completed 385 acquisitions for the...
TWIA Board Reviews 2025 Budget After $455 Million Loss from Hurricane Beryl
Nov 19 2024 // The Texas Windstorm Insurance Association Board of Directors met last week to review information related to the agency’s 2025 budget. The meeting presented new information on TWIA losses from 2024 storms as projected...
Spain’s Record-Breaking Floods Push Insured Losses Above €4 Billion ($4.2 Billion)
Nov 18 2024 // Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS. This insured price tag includes losses absorbed by the Consorcio de...
Chubb Continues ‘Record’ Year With 13.8% Jump in Q3 Net Income
Nov 18 2024 // Chubb recorded an 11.7% increase in P/C underwriting income with a combined ratio of 87.7 as part of third quarter net income of about $2.2 billion, up 13.8%. CEO Evan G. Greenberg said the Whitehouse Station, New...
Economic, Social Inflation Influence Drop in Commercial Auto UW Profits: Triple-I/CAS
Nov 18 2024 // Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net...
Would Letting Roofers Do More Wind-Mitigation Work Help Reduce Florida’s Insured Losses in Storms?
Nov 18 2024 // A recent photograph of destruction left by Hurricane Milton’s wind tells the story: An entire roof section on a residential complex in Bradenton, Florida – including rafters and ceiling joists – was...
Texas Workers’ Comp is Growing, Profitable, Adding Doctors
Nov 14 2024 // Texas’s worker’s compensation market is stable and steadily growing. The workers’ compensation market is one of the few consistently profitable lines in the state, according to the Worker’s...
2024 More of the Same in Commercial Auto Segment After $5B Net Loss in 2023
Nov 14 2024 // After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives,...
Liberty Mutual Quadruples Q3 Net Income Despite Catastrophe Losses
Nov 7 2024 // Liberty Mutual Holding Company said consolidated third quarter net income more than quadrupled to $897 million compared to $215 million during the same period a year ago. Catastrophe losses remained elevated at nearly $1.1...
Zurich’s Exposure to Hurricanes Helene, Milton Below $360M as Catastrophe Losses Rise
Nov 7 2024 // Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural...
Swiss Re Cuts 2024 Profit Target After Raising US Reserves
Nov 7 2024 // Swiss Re AG said it was raising reserves in its US Property & Casualty business by $2.4 billion in the third quarter, a move analysts said was positive despite a resulting downgrade to full-year profit...
