Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Marsh McLennan Beats Q2 Profit Estimates on Higher Interest Income
Jul 20 2023 // Marsh McLennan reported second-quarter profit above expectations on Thursday, bolstered by the higher interest the company earned from client funds. The company reported a profit of $2.20 per share, excluding one-time...
Travelers’ Q2 Profit Plummets on Historic-Level Catastrophe Losses
Jul 20 2023 // Travelers Companies Inc. on Thursday reported a 98% fall in quarterly profit, as severe wind and hailstorms in parts of the United States pushed up its catastrophe losses. Core income of the New York-based company, often...
Rain Insurance Payout Helps DICK’S Sporting Goods Open Recover Lost Revenue
Jul 19 2023 // When a rainstorm hit Endicott, New York this past weekend, the organizers of the DICK’S Sporting Goods Open PGA TOUR Champions event at En-Joie Golf Course were shielded with a rain insurance policy provided by...
Workers’ Compensation Remains Profit Engine for U.S. P/C Insurers: AM Best
Jul 18 2023 // Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace...
Liberty Mutual Announces Organizational Changes, Leading to 370 US Job Losses
Jul 17 2023 // Liberty Mutual Insurance announced major organizational changes and executive leadership appointments, which are aimed at enhancing its personal and small commercial lines business in long-term strategic markets....
US Insurance Market Forecast to Withstand Losses From Large Hurricane This Year: Fitch Report
Jul 17 2023 // With ample capital, Fitch Ratings’ latest annual ‘U.S. Hurricane Season’ report indicates U.S. property and casualty (P/C) and reinsurers can absorb losses if a large hurricane makes landfall this...
California Workers’ Comp Insurer Combined Losses and Expenses in 2022 Were $15B
Jul 17 2023 // The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022. Key findings in the report include: Medical losses paid in 2022 were...
P/C Market Won’t See Underwriting Profit Until 2024: S&P
Jul 14 2023 // After four years of unparalleled underwriting profitability ending in 2021, the property/casualty market is headed for a second straight year of underwriting losses, according to the newly released S&P Global Market...
Progressive Returns to Positive Net Income in Q2
Jul 13 2023 // Second quarter net income at Progressive Corp. was $345.4 million, reversing a loss of nearly $543 million during the same quarter in 2022, as net income in June was about $41 million compared to a loss of nearly $437...
Severe Weather Causes First-Half 2023 Losses of at Least $1B in Seven States: Report
Jul 13 2023 // Seven states experienced at least $1 billion in total insured severe weather loss for the first half of 2023, according to an update from BMS Group. Texas led all states with insured severe weather loss of $7.2 billion...
EU Widens Probe of Suicide Risks Linked to Weight-Loss Drugs
Jul 13 2023 // The European Union’s drug regulator expanded its investigation into a possible risk of suicidal thoughts associated with a new class of weight-loss medicines and a separate analysis found that most patients stopped...
No Liability Coverage Owed for Investor Losses Caused by Blue Bell’s Listeria Outbreak
Jul 12 2023 // A 2015 Listeria outbreak linked to ice cream sold by Blue Bell Creameries hospitalized 10 people and killed three. While those injuries and deaths were certainly “bodily injuries,” a lawsuit filed by investors...
Florida Insurers Show a Little Profit in 2023 But Two Join the Watch List
Jul 11 2023 // Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state...
Association of British Insurers Pushes Members to Act on Biodiversity Loss
Jul 6 2023 // A British insurance group is pushing its members, which include Allianz SE, Aviva Plc and Chubb Ltd., to step up their efforts to fight biodiversity loss as part of their broader climate-related goals. In a guide published...
SiriusPoint Completes $1.3B Reinsurance Loss Portfolio Transfer With Compre
Jul 3 2023 // SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is...
California Workers’ Comp Insurer Combined Losses and Expenses in 2022 Were $15B
Jun 29 2023 // The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022. Key findings in the report include: Medical losses paid in 2022 were...
4 Case Studies: How to be Proactive on Loss Control
Jun 29 2023 // This post is part of a series sponsored by IAT Insurance Group. The most successful fleets are those that have a proactive safety culture and do more than what is dictated by federal and state regulations. They take full...
Fitch: US Insurance Market Forecast to Withstand Losses From Large Hurricane This Year
Jun 21 2023 // With ample capital, Fitch Ratings’ latest annual ‘U.S. Hurricane Season’ report indicates U.S. property and casualty (P/C) and reinsurers can absorb losses if a large hurricane makes landfall this...
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...
London’s Excel Centre Wins Insurance Ruling on COVID-19 Biz Interruption Losses
Jun 19 2023 // The owners of London’s ExCel conference center on Friday won a court ruling against insurers, including Royal & Sun Alliance, over pandemic-related losses, which its lawyers said could affect hundreds of...
