Trending Profit Loss Headlines

The most viewed headlines from our Profit Loss Topic Page over the last 30 days.

#1 State Farm Sets Another Record With $14B Underwriting Loss in 2023

Mar 1 2024 // A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023. The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion...

#2 GEICO’s ‘Eye-Popping’ 2023 Insurance Profits, Falling Employee Counts

Feb 26 2024 // Even though Berkshire Hathaway’s latest annual report featured Warren Buffett’s forecast that the days of “eye-popping performance” for the giant conglomerate are over, readers focused on...

#3 US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best

Mar 7 2024 // Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and...

#4 Zurich Insurance Reports Record Profit, Announces $1.25B Share Buyback

Feb 22 2024 // Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of a global pandemic, wars...

#5 Liberty Mutual Execs See Q4 Momentum as 2023 Income Falls

Mar 8 2024 // Although Liberty Mutual reported worse underwriting results and lower net income in 2023 compared to the prior year, executives pointed to the momentum of the final quarter as an indicator of what’s ahead. “We...

#6 Insurtech Root Inc. Results Improve but Remain at a Net Loss

Feb 22 2024 // Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and...

#7 Profit Recovery Will Vary Among U.S. Personal Auto Carriers: Fitch

Feb 29 2024 // Fitch Ratings said it expects underwriting results for U.S. personal auto insurer to continue to improve this year but the pace to profitability will vary. Auto insurers Progressive and GEICO were the only two of 10...

#8 WV Governor’s Coal Company Found in Contempt, Must Pay BrickStreet for Comp Loss

Feb 28 2024 // A coal company owned by West Virginia’s governor has been found in contempt of court and must face fines of $2,500 a day until it pays its contractual obligations to its workers’ compensation insurance carrier,...

#9 Ryan Specialty Q4 Net Income Up 28% on E&S Expansion

Mar 1 2024 // Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year. The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year,...

#10 Verisk’s Annual Profit Forecast Falls Short Amid Spending Uncertainty

Feb 26 2024 // Verisk Analytics forecast 2024 adjusted profit below market estimates last Wednesday, as the broader data and analytics industry grapples with worries that an uncertain economy would potentially trigger spending cutbacks...

#11 AXA’s 2023 Earnings Miss Forecasts on Higher Costs, Lifts Dividend 16%

Feb 22 2024 // France’s AXA, Europe’s second-biggest insurer, pledged on Thursday to deliver higher earnings and returns to shareholders by 2026 by growing its client base, automating processes and reducing labor costs. The...

#12 Florida-Based HCI Group Reports Strong Gain in Q4 Earnings

Mar 12 2024 // TAMPA, Fla. (AP) — HCI Group Inc. (HCI) on Thursday reported fourth-quarter earnings of $38.1 million, a significant improvement over Q4 2022. The Tampa, Florida-based company said it had profit of $3.40 per share....

#13 Why Totaled Auto Losses Are Hard to Pin Down

Mar 4 2024 // The auto insurance market is tough and varied. Totaled auto losses are up, down or relatively stable, depending on the data source. Ever since the personal auto segment recorded a combined ratio of 112 in 2022 – a figure...

#14 Salaries, Total Income Skyrocketed in 2023 But Satisfaction with Compensation Waned

Feb 19 2024 // Insurance agency employees and producers on average made more money in 2023 but, overall, employees reported lower satisfaction with their compensation than in 2022, a year when overall satisfaction rose, according to the...

#15 People Moves: Alliant Names Hammond VP, Private Client Loss Control Department

Mar 14 2024 // Willy Hammond joined the Alliant private client division of Alliant Insurance Services as vice president, senior loss control specialist. Hammond has 30 years of experience in the industry and previously served as national...

#16 The National Alliance Launches Allibot: A NEW Artificial Intelligence Learning Tool for HS Students Earning the CISR Designation

Mar 11 2024 // AUSTIN, TX., March 11, 2024 — The National Alliance for Insurance Education & Research, a leader in risk management and insurance education, announces the release of Allibot, an advanced Artificial Intelligence...