Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Tesla Recalls 40,000 U.S. Vehicles Over Potential Loss of Power Steering Assist
Nov 8 2022 // Tesla Inc. is recalling just over 40,000 2017-2021 Model S and Model X vehicles that may experience a loss of power steering assist when driving on rough roads or after hitting a pothole. The Texas-based electric vehicle...
Berkshire: Negative Q3 Insurance Results Due to Catastrophe, Auto Losses
Nov 7 2022 // Berkshire Hathaway’s insurance business recorded an after-tax underwriting loss of $962 million (a pre-tax loss of $1.15 billion) in the third quarter, a decrease of $178 million from 2021, as catastrophe losses and...
Brazil’s BB Seguridade Raises Full-Year Forecasts as Q3 Profit Jumps 69%
Nov 7 2022 // Brazilian insurer BB Seguridade Participacoes SA raised some of its full-year forecasts on Monday after reporting a 69% jump in third-quarter profit on the back of a strong performance in insurance, pension plans and...
Bad Driving, Inflation Among Factors Pushing Increase In Auto Loss Ratios
Nov 7 2022 // U.S. auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
Commissioner Says 2021 Colorado Wildfire Losses Surpass $2B
Nov 7 2022 // A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner...
Markel Q3 Income Drops on Investments but Insurance ‘Solidly Profitable’
Nov 4 2022 // On the heels of a third quarter that saw increased earned premiums compared to the same stretch in 2021, leaders at Markel Corp. recently reflected on their recent earnings and examined how current events are shaping their...
Allstate Q3 Net Income in the Red; Continues Efforts to ‘Restore Property-Liability Margins’
Nov 3 2022 // Allstate Corp. said it recorded a third quarter net loss applicable to common shareholders of $694 million compared to net income of $508 million a year ago during the same time. Allstate’s Q3 combined ratio was an...
CNA Records 50% Drop in Q3 Net Income
Nov 2 2022 // Net income at CNA Financial Corp. was down 50% for third quarter of 2022 compared to the prior year quarter, while property/casualty core income grew on improved underwriting performance. The insurance holdings company...
AIG Reports Q3 Results With $450M in Losses From Ian
Nov 2 2022 // Third quarter net income attributable to American International Group (AIG) shareholders increased about $1 billion compared with the same time period a year ago, even with catastrophe and investment losses. Q3 net income...
Initial Insured Loss for Typhoon Nanmadol Estimated ¥114B (US$768M)
Nov 1 2022 // Initial insurance industry losses from Typhoon No. 14, aka Nanmadol, which hit Japan in September 2022, are an estimated 114 billion Japanese yen (US$768 million), according to PERILS, the independent Zurich-based...
Commissioner Says 2021 Colorado Wildfire Losses Surpass $2B
Oct 31 2022 // A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner...
Insured Losses for Australia’s October 2021 Storms Estimated at A$972M: PERILS
Oct 31 2022 // Insured losses for the severe storms, which hit Southern Australia on Oct. 28-30, 2021, are estimated at A$972 million (US$623.1 million), according to PERILS, the independent Zurich-based organization that provides...
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Oct 31 2022 // Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 – but core earnings were up during what the company’s CEO described as a strong stretch. Third quarter...
Universal P&C Posts $72 Million Loss, But Says it’s Well-Covered with Reinsurance
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Oct 28 2022 // Third-quarter net income at broker WTW was $192 million compared to $907 million during the prior-year third quarter. Net income for the third quarter 2021 included the $1 billion income receipt that was received as a...
Brown & Brown’s Q3 Earnings Fail to Meet Analysts’ Expectations
Oct 28 2022 // Brown & Brown Inc. (BRO on the NYSE) on Monday reported third-quarter net income of $161.1 million. The Daytona Beach-based company, one of the largest insurance brokerages in the country, said it had a profit of 57...
Swiss Re Posts Q3 Loss on Hit From Hurricane Ian, Signals Price Hikes
Oct 28 2022 // Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5...
Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
Oct 27 2022 // US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and...
DOJ Antitrust Losses in Court Are Seen as Setback for Biden’s Merger Crackdown
Oct 26 2022 // In the span of just a month, federal judges rejected the US Justice Department’s attempts to block three mergers in the health technology, agriculture and defense contracting industries. The agency is considering...
Update: Ping An Profit Falls 6.3% on Market Turmoil, Weaker Sales
Oct 26 2022 // Ping An Insurance (Group) Co., China’s second-largest insurer by market value, posted a 31.5% drop in third-quarter profit as a stock-market slump hurt investment returns and an economic slowdown hampered sales. Net...
