Best Read Profit Loss Headlines
Headlines from our Profit Loss Topic Page with the most time spent reading.
#1 The Impacts of Inflation: Uncertainty and Non-Modelled Loss
May 4 2023 // This post is part of a series sponsored by CoreLogic. Insurers affected by Hurricane Ian’s damaging path across Florida at the end of September 2022 faced operational, regulatory and statutory requirements for...
#2 Florida Agriculture Losses from Idalia Reach $78M to $371M, Study Says
Sep 25 2023 // ST. PETERSBURG, Fla. (AP) — Florida agriculture losses from Hurricane Idalia are estimated at between $78 million and $371 million, with farmers also suffering widespread damage to such infrastructure as irrigation...
#3 Allstate Records About $640M in August Cat Losses, Half From Maui Wildfire
Sep 21 2023 // Allstate reported about $641 million in August catastrophe losses from 18 events, with about half coming from the Maui wildfire. The losses for the month of August were $551 million or $435 million, after-tax, partially...
#4 USDA Expands Whole Farm Revenue Protection, Micro Farm Insurance Plans
Sep 14 2023 // The U.S. Department of Agriculture’s Risk Management Agency (RMA) announced changes to the Whole Farm Revenue Protection (WFRP) and Micro Farm Insurance plans in an effort to increase participation and access to crop...
#5 AM Best Revises US Homeowners Insurance Segment to Negative as Losses Persist
Sep 18 2023 // The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance...
#6 Clorox’s First-Quarter Results Could See ‘Material Impact’ From Cyber Attack
Sep 18 2023 // Pine-Sol maker Clorox said on Monday its first-quarter results could see a “material impact” from a cybersecurity attack last month that damaged portions of its IT infrastructure and caused widescale disruption...
#7 Hong Kong’s Floods to Hit Insurers’ Earnings, Could Pressure Reinsurance Renewals
Sep 18 2023 // The recent devastating floods following Super Typhoon Saola in Hong Kong and other parts of China may add further pressure to the upcoming reinsurance renewals in January, according to an AM Best commentary. The overall...
#8 Target Closes Nine NYC, West Coast Stores to Stop Losses From Rising Theft
Sep 27 2023 // Target Corp. is closing nine stores in four states to stem losses from rising retail theft. One Manhattan location will be shuttered, along with two in Seattle, three in Northern California and three in Portland, Oregon,...
#9 Probe Opened Into Hyundai Ioniq 5 EVs Over Power Loss Reports
Jun 20 2023 // U.S. auto safety regulators are investigating nearly 40,000 Hyundai Ioniq 5 electric vehicles over reports of power loss while driving tied to a battery charging issue. The National Highway Traffic Safety...
#10 Texas Comptroller: State Revenue Driven by Increasing Insurance Premiums
Sep 29 2023 // When Texas lawmakers meet next month for a special session on funding public education, they will have more money available to them to spend than they anticipated when they passed the state’s $321.3 billion budget...
#11 Global Insured Losses Estimated at $15B in Q1, With Economic Price Tag of $63B: Aon
Apr 17 2023 // Private and public insurance entities saw an estimated $15 billion of global losses during the first quarter – close to both average and median losses of the last 10 years, according to Aon’s Q1 Global Catastrophe...
#12 New Models Aim to Better Predict Storm Surge, Insured Losses From Hurricanes
Jun 2 2023 // Two new hurricane forecast models promise to help property owners and insurers better predict the losses from storms that may be increasing in intensity as ocean waters continue to warm. The National Hurricane Center...
#13 First-Half P/C Underwriting Loss Just $2B Shy of Loss for All of 2022
Sep 12 2023 // The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023 is $2 billion less than total losses recorded for all of 2022, according to a new AM Best...
#14 Catastrophe Losses Drive 2021 U.S. P/C Insurer Impairments: AM Best
Apr 10 2023 // Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best...
#15 Q1 Net Income Up 21% at The Hartford but Personal Lines Unprofitable
Apr 28 2023 // The Hartford Financial Services reported first quarter 2023 net income of $535 million, nearly a 21% increase over $443 million a year ago. In the company’s property/casualty segments, results were carried by net...
#16 Warren Buffett Predicts Earnings Decline at Berkshire Units
May 8 2023 // Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy prediction for his own businesses: the good times may be over. The billionaire investor...
#17 NSM Insurance Adds 3 Medical Stop Loss, Managed Care Specialty Firms
Mar 20 2023 // Pennsylvania-based insurance program specialist NSM Insurance Group has completed its acquisition of three businesses that specialize in the field of medical stop loss insurance and managed care insurance. The firms are...
#18 Catastrophe Losses Cause Q1 Drop in Travelers’ Net Income
Apr 19 2023 // First quarter net income at Travelers Cos. fell 4% to $975 million as catastrophes cost the insurer a total of about $535 million during the first three months of the year. Catastrophe losses, coupled with a $48 million...
#19 Rate Hikes Not Bringing Profit to US Auto Insurers: Fitch
Aug 18 2023 // Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market...
#20 NCCI Symposium: Strong Profits for Workers’ Comp, but Medical Still a Concern
May 10 2023 // While the property/casualty insurance industry overall may have seen a slight loss in profitability in 2022, workers’ compensation continues to be the most profitable line, with a “very healthy”...