Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Letting People Work From Home Is Good for Companies’ Revenue Growth
Nov 17 2023 // Companies that allow remote work have experienced revenue growth that’s four times faster than those that are more stringent about office attendance, a new survey shows, adding fuel to the debate over productivity...
Zurich’s Farmers Group Seeks More Fee Income Via Acquisition of 3 Brokers for $760M
Nov 16 2023 // Zurich Insurance Group announced that its subsidiary, Farmers Group Inc. (FGI), has agreed to acquire three insurance brokers of the Farmers Exchanges for US$760 million. The deal also includes the Farmers Exchanges’...
Holding Company for American Southern Reports Improved Net Earnings for Q3
Nov 15 2023 // Atlantic American Corp., the holding company for property/casualty insurer American Southern Insurance Co., Bankers Fidelity Life, and an employee benefits unit, this week reported third-quarter net income of $1.8 million,...
Hurricane Otis’ Insured Losses Estimated at $2.5B-$6B: Moody’s RMS, Verisk
Nov 15 2023 // Moody’s RMS, the risk modeling and solutions company, estimates private market insured losses from Hurricane Otis to range between US$2.5 billion and US$4.5 billion. On the other hand, Verisk puts insured losses at...
Liberty Mutual Records $219M Q3 Net Income
Nov 9 2023 // Liberty Mutual Holding Co. on Thursday reported third quarter net income of $219 million, reversing a loss of $353 million a year ago during the same time. Timothy Sweeney “Solid underwriting results in our Global...
Florida’s HCI Group Rebounds: Q3 Profit, Fewer Policies, Lower Litigation Costs
Nov 9 2023 // Tampa-based HCI Group, the holding company for Homeowners Choice and TypTap property insurance companies, reported a $15.7 million net income in the third quarter, a strong improvement over Q3 last year, when the group saw...
Insured Losses from Winter Storm Ciarán Range From €800M to €1.3B: Verisk
Nov 9 2023 // Industry insured losses due to wind from Winter Storm Ciarán (also named Emir by the Free University of Berlin) will range between €800 million and €1.3 billion ($855.2 million and $1.4 billion), with the majority of...
After Raising Premiums, Shedding Policies, Heritage Reports a Smaller Net Loss for Q3
Nov 6 2023 // Heritage Insurance Holdings, parent company of Florida’s 10th-largest property insurance company, reported a net loss of $7.4 million for the third quarter of 2023, a significant improvement over last year after the...
Berkshire Hathaway Reports $12.8B Loss as Investments Fall; Insurance Performed Well
Nov 6 2023 // Warren Buffett`s company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns – particularly the insurers – generally performed...
Commercial Auto Up Against Persistent Headwinds to Underwriting Profit: AM Best Report
Nov 6 2023 // Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. “The liability component has been more problematic than the...
Insured Losses From Severe Convective Storms in US Top $50B for 1st Time: Aon Report
Nov 6 2023 // Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global...
Harvard Claims Marsh Is to Blame for Its Loss of $15M in Coverage for Admissions Fight
Nov 2 2023 // Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of its admissions policy, Harvard University is now looking to hold its insurance broker, Marsh,...
AIG General Insurance Income Up 82.7% in Q3 on North America Gains
Nov 2 2023 // American International Group (AIG) during the third quarter recorded a 264% increase in underwriting income within its General Insurance segment to $611 million as adjusted pretax income in the segment increased to about...
Allstate Shows ‘Progress,’ Narrows Q3 Net Income Loss to $41M
Nov 2 2023 // Allstate Corp. said its net loss for the third quarter was $41 million compared to a loss of $685 million during the same time a year ago. The Northbrook, Illinois-based insurer recorded an improvement in its third quarter...
5 Brokers Report Strong Revenues During Q3 as Favorable Market Climate Continues
Oct 30 2023 // Five publicly traded insurance brokers reported strong third quarter revenues, with their executives using adjectives such as “outstanding,” “terrific,” “excellent,” and...
CNA Returns to Black in Q3 With Net Income of $258 Million
Oct 30 2023 // CNA Financial reversed a third quarter loss of $42 million in 2022 with net income of $258 million this year on higher investment income, positive underwriting income and lower catastrophe losses. The Chicago-based insurer...
The Hartford Q3 Income Jumps 93% on Commercial Lines Results
Oct 27 2023 // The Hartford reported a 93% increase in third quarter net income to $645 million driven by results in its commercial lines segment. The Hartford, Connecticut-based insurer said third quarter net income in commercial lines...
Kentucky Approves 18th-straight Decrease in Workers’ Comp Loss Costs
Oct 26 2023 // Kentucky’s Insurance Commissioner has approved a 6.4% decrease in average workers’ compensation loss costs for the state, making it the 18th consecutive drop in costs for most Kentucky employers. “The...
Acapulco’s Economic Losses Seen at $15 Billion as Hurricane Otis Death Toll Rises
Oct 26 2023 // Hurricane Otis left a trail of destruction in Acapulco after tearing into the historic Mexican beach town with wind speeds of 165 miles (266 kilometers) per hour, smashing shops and wrecking apartment buildings and...
Florida-based Brown & Brown Beats Expectations with Earnings, Dividends
Oct 25 2023 // Brown & Brown Inc. (BRO on NYSE) this week reported third-quarter earnings of $175.9 million. The Daytona Beach, Florida-based brokerage said it had net income of 62 cents per share. Earnings, adjusted for...
