Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Verisk Estimates Insured Losses for Palisades and Eaton Fires at $28B to $35B
Jan 22 2025 // New estimates peg insured losses to property from the Palisades and Eaton fires in Los Angels together will fall between $28 billion and $35 billion, which includes losses to the California FAIR Plan. The estimates out on...
Travelers Posts 28% Increase in Q4 Net Income
Jan 22 2025 // The Travelers Cos. said fourth quarter 2024 and full year net income increased 28% and 67% on strong underlying underwriting results. Travelers posted fourth quarter net income of about $2.1 billion compared to about $1.6...
Moody’s RMS Adds to LA Fires Insured Loss Estimates With Range of $20B-$30B
Jan 20 2025 // Moody’s RMS Event Response said insured losses for the January 2025 Los Angeles fires will likely fall in the $20 billion to $30 billion range. The Jan. 17 estimate from Moody’s RMS came a day after CoreLogic...
P/C Market Profit Improvement Expected to Continue Through 2026: Triple-I, Milliman
Jan 17 2025 // The “gap is closing” between commercial lines and personal lines underwriting results as the insurance industry overall is expected to continue its run of premium growth and improved underwriting results over...
Smoke, Coverage Issues Cloud Wildfire Forecast: $35-$45B Losses Insured
Jan 17 2025 // CoreLogic announced a preliminary range of insured losses for the Eaton and Palisades Fires in Los Angeles of $35 billion to $45 billion, but there are a lot of factors that could change the numbers. “We don’t...
California Workers’ Comp Public Self-Insured Losses Rise Despite Claim Volume Decline
Jan 17 2025 // Increases in average medical payments and average indemnity payments drove public self-insureds’ total paid losses up last year even though the number of claims fell, a new report shows. The California Workers’...
Too High? Too Low? BMS Analyzes Early Wildfire Insured Loss Estimates
Jan 16 2025 // Industry analysts’ early estimates of insurance industry losses for the January 2025 California wildfires have already grown from $8 billion to $40 billion-plus—with many noting that it’s too early for...
Legacy Specialist Enstar Agrees $196M Loss Portfolio Transfer With Atrium Syndicate
Jan 15 2025 // Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced its Lloyd’s syndicate has agreed a ground-up loss portfolio transfer (LPT) with Atrium Syndicate 609, managed by Atrium Underwriters...
Update: LA Wildfire Insurance-Loss Estimates Approach $40 Billion
Jan 14 2025 // The cost of wildfires ravaging swaths of Los Angeles keeps rising, with new estimates of the total losses for the insurance industry now seen as high as $40 billion. The fresh figure Jan. 14 from Keefe Bruyette & Woods...
Canadian Insured Losses From Catastrophic Events Total C$8.5 Billion in 2024: CatIQ
Jan 13 2025 // The magnitude of catastrophic events experienced across Canada in 2024 pushed the insured loss total for the region to C$8.5 billion (US$5.9 billion), according to Catastrophe Indices and Quantification Inc. (CatIQ),...
Update: Re/Insurer Losses From LA Wildfires Expected to Be Significant but Manageable
Jan 10 2025 // Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for...
Catastrophe Bond Funds Say They’ll Dodge Losses as LA Fires Rage
Jan 10 2025 // The wildfires sweeping through Los Angeles are unlikely to trigger significant losses for catastrophe bonds designed to capture such risks. Roughly 12% of the $50 billion cat-bond market is currently exposed to wildfire...
Insured Losses From Los Angeles Wildfires Rising: $8B to $20B
Jan 9 2025 // Editor’s note: This story has been updated with new AccuWeather total loss estimates. With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of...
Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’
Jan 9 2025 // Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re. Overall economic...
California Wildfires Will Likely Lead to Large Economic and Insured Losses
Jan 8 2025 // Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what industry watchers say...
Low-Income Tenants Sue Omaha Housing Authority Over Bed Bug Infestations
Jan 8 2025 // A class-action lawsuit filed Monday alleges the Omaha Housing Authority ignored and failed to eliminate bed bug infestations at high-rise apartments for low-income residents. The new lawsuit, brought by a pioneering firm...
Viewpoint: Innovation Enhances Brokers’ Growth and Profits
Jan 7 2025 // Boosting growth and profitability is a goal for all U.S. insurance agents and brokers, but until recently that has been easier to assert than to achieve consistently. Booking organic growth is difficult, even for firms...
Loss-Free Property Cat Rates Fall 5%-15% as Reinsurer Appetite Grows: Guy Carpenter
Dec 30 2024 // Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal...
Losses From Crypto Hacks Jump to $2.2 Billion in 2024, Report Says
Dec 26 2024 // Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the...
RiverStone International to Provide Loss Portfolio Transfer for Zurich Insurance
Dec 23 2024 // RiverStone International, the London-based provider of legacy solutions, announced it has signed an agreement with the French branch of Zurich Insurance Europe and Zurich Insurance Co. to provide a loss portfolio transfer...
