Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Hurricane Ian Drives Global Insured Losses of $115B From Natural Disasters: Swiss Re
Dec 1 2022 // Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a...
Root Reports $64M Q3 Net Loss
Nov 21 2022 // Root Inc. reported a third-quarter net loss of $64 million, down from a net loss of $133 million during the same quarter last year. Year-to-date losses sit at $230 million, which is down from $411 million at the end of the...
FEMA Projects $3.5-$5.3B NFIP Losses for Hurricane Ian
Nov 21 2022 // The Federal Emergency Management Agency has projected an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5 billion to $5.3 billion, including loss...
Lemonade Records Net Loss, Top and Bottom Line Growth
Nov 18 2022 // Insurtech Lemonade booked a third-quarter net loss of $91.4 million compared with a net loss of $66.4 million during the same quarter last year, but in a letter to shareholders, the company said both top and bottom lines...
Florida Citizens Expects 5,000 claims and $63 Million in Losses from Nicole
Nov 17 2022 // Citizens Property Insurance Corp. has released its first estimate on losses from Hurricane Nicole, a category 1 storm that hit Florida’s east coast Nov. 10. Modeled losses plus loss adjustment expenses – but not...
RMS: Less Than $2B in Insured Losses from Hurricane Nicole
Nov 16 2022 // Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion. This estimate represents insured losses associated with...
Florida Citizens Revises Ian Loss Estimate to $3.8B, Including Litigation Expenses
Nov 15 2022 // Direct losses, litigation and other expenses from Hurricane Ian will reach $3.8 billion for Florida’s Citizens Property Insurance Corp., but that’s still below the threshold that would trigger an assessment on...
Legacy Specialist Enstar Completes Loss Portfolio Transfer With Argo Group
Nov 14 2022 // Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced that one of its wholly owned subsidiaries has closed its loss portfolio transfer transaction with specialty insurance underwriter Argo Group...
FEMA Projects $3.5-$5.3B NFIP Losses for Hurricane Ian
Nov 14 2022 // n Friday, the Federal Emergency Management Agency announced an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5-$5.3 billion, including loss adjustment...
UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Jan. 1
Nov 14 2022 // The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the third quarter of this...
Nicole’s Insured Losses Less Than $1B, but Some Florida Homes Washed Into the Sea
Nov 14 2022 // Insured losses from Hurricane Nicole, a category 1 storm that came ashore on Florida’s east coast last week, will be no more than $750 million, a fraction of the level of losses caused by Hurricane Ian six weeks...
BRP Group Posts 91% Revenue Growth, but Still Saw Loss in Q3
Nov 9 2022 // BRP Group, the parent company of the national brokerage known as Baldwin Risk Partners, announced a near-doubling of revenue for the third quarter of 2022 over this time last year, but it still saw a net loss of $47...
Tesla Recalls 40,000 U.S. Vehicles Over Potential Loss of Power Steering Assist
Nov 8 2022 // Tesla Inc. is recalling just over 40,000 2017-2021 Model S and Model X vehicles that may experience a loss of power steering assist when driving on rough roads or after hitting a pothole. The Texas-based electric vehicle...
Berkshire: Negative Q3 Insurance Results Due to Catastrophe, Auto Losses
Nov 7 2022 // Berkshire Hathaway’s insurance business recorded an after-tax underwriting loss of $962 million (a pre-tax loss of $1.15 billion) in the third quarter, a decrease of $178 million from 2021, as catastrophe losses and...
Brazil’s BB Seguridade Raises Full-Year Forecasts as Q3 Profit Jumps 69%
Nov 7 2022 // Brazilian insurer BB Seguridade Participacoes SA raised some of its full-year forecasts on Monday after reporting a 69% jump in third-quarter profit on the back of a strong performance in insurance, pension plans and...
Bad Driving, Inflation Among Factors Pushing Increase In Auto Loss Ratios
Nov 7 2022 // U.S. auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
Commissioner Says 2021 Colorado Wildfire Losses Surpass $2B
Nov 7 2022 // A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner...
Markel Q3 Income Drops on Investments but Insurance ‘Solidly Profitable’
Nov 4 2022 // On the heels of a third quarter that saw increased earned premiums compared to the same stretch in 2021, leaders at Markel Corp. recently reflected on their recent earnings and examined how current events are shaping their...
Allstate Q3 Net Income in the Red; Continues Efforts to ‘Restore Property-Liability Margins’
Nov 3 2022 // Allstate Corp. said it recorded a third quarter net loss applicable to common shareholders of $694 million compared to net income of $508 million a year ago during the same time. Allstate’s Q3 combined ratio was an...
CNA Records 50% Drop in Q3 Net Income
Nov 2 2022 // Net income at CNA Financial Corp. was down 50% for third quarter of 2022 compared to the prior year quarter, while property/casualty core income grew on improved underwriting performance. The insurance holdings company...
