Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Swiss Re Returns to Q1 Profit, Driven by Adequate Pricing, Higher Investment Results
May 4 2023 // Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period. “Profitability improved in all our main businesses, supported by...
Allstate Posts Loss With ‘Exceptionally’ High Catastrophe Costs
May 4 2023 // Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses. The company reported a $342 million loss on an adjusted basis...
Wait ‘Til Next Year: Auto Profit Unlikely to Return in 2023: S&P
May 2 2023 // In spite of continued actions to raise prices of coverage, auto loss cost continue to climb and profits will continue to elude personal auto insurers—probably until 2024, analysts at Standard & Poor’s...
Insured Losses for Southeast Australia Floods of October 2022 Rise to A$907M: PERILS
Apr 28 2023 // Insured losses for floods that hit Southeast Australia in October 2022 have risen to A$907 million (US$600.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Q1 Net Income Up 21% at The Hartford but Personal Lines Unprofitable
Apr 28 2023 // The Hartford Financial Services reported first quarter 2023 net income of $535 million, nearly a 21% increase over $443 million a year ago. In the company’s property/casualty segments, results were carried by net...
Markel Returns to Q1 Net Income Profit on Investment Gains
Apr 27 2023 // Markel Corp. reported first quarter 2023 net income of $537.8 million compared to a loss of about $48.8 million a year ago. Net investment gains during the first three months were about $372.6 million compared to a loss of...
China’s Ping An Insurance Reports 48.9% Rise in Q1 Profit
Apr 26 2023 // Ping An Insurance (Group) Co. of China Ltd. saw a 48.9% rise in first-quarter net profit as its investment income improved, China’s largest insurer by market value reported on Wednesday. Profit rose to 38.4 billion...
Catastrophe Losses Hinder Chubb Q1 Net Income
Apr 26 2023 // First quarter net income at Chubb Ltd. fell several percentage points to about $1.9 billion as catastrophe losses evened gains in premiums written. P&C underwriting income was about $1.21 billion, down 5.5% from about...
Allstate Estimates $1.7 Billion in Q1 Catastrophe Losses
Apr 20 2023 // Allstate Corp. said pre-tax catastrophe losses for the first quarter are expected to be about $1.7 billion, with about $1.3 billion occurring during the month of March. Losses in March were attributed to 10 events with 75%...
Insured Losses from Mississippi Tornado Nearing $100 Million
Apr 20 2023 // Insurance losses from the March tornado that carved a path of destruction through parts of Mississippi are approaching $100 million, and uninsured losses will likely exceed that number, the state insurance department...
Catastrophe Losses Cause Q1 Drop in Travelers’ Net Income
Apr 19 2023 // First quarter net income at Travelers Cos. fell 4% to $975 million as catastrophes cost the insurer a total of about $535 million during the first three months of the year. Catastrophe losses, coupled with a $48 million...
Global Insured Losses Estimated at $15B in Q1, With Economic Price Tag of $63B: Aon
Apr 17 2023 // Private and public insurance entities saw an estimated $15 billion of global losses during the first quarter – close to both average and median losses of the last 10 years, according to Aon’s Q1 Global Catastrophe...
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
Apr 17 2023 // Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast. Fitch...
Near $27B Underwriting Loss in 2022; Largest Loss Since 2011
Apr 17 2023 // Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property...
D&O 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Apr 17 2023 // Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions...
The Hartford Reveals Preliminary Income Figures for First Quarter
Apr 14 2023 // Two weeks before its officially set to announce earnings, The Hartford previewed first-quarter net income and underwriting results, revealing that net income will grow to $530 million, in spite of booking $185 million in...
March Results Dampen Progressive Q1 Net Income Momentum
Apr 13 2023 // Progressive Corp. today reported first quarter net income of about $448 million – a 43% increase compared to the same time last year – though the insurer booked a nearly $152 million loss for the month of March. At the...
Catastrophe Losses Drive 2021 U.S. P/C Insurer Impairments: AM Best
Apr 10 2023 // Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best...
What the Hail? Understanding this Peril is the Key to Improving Loss Ratios in Insurance
Apr 3 2023 // This post is part of a series sponsored by CoreLogic. With climate change and severe weather continuing to escalate, hail is increasingly posing challenges for risk assessment and risk management in the insurance industry....
Executives of Alabama-based Austal Shipbuilding Accused of Inflating Earnings
Apr 3 2023 // Three current and former former executives of a shipbuilder that constructs vessels for the U.S. Navy have been indicted on accounting fraud charges accusing them of falsely inflating the company’s reported earnings,...
