Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Wrapping up Hurricane Season: Ida, Katrina, and the Importance of Adequate Loss Modeling
Dec 9 2021 // This post is part of a series sponsored by CoreLogic. With the 2021 hurricane season coming to an end, insurers and government agencies are beginning to take stock of what occurred and how damages stacked up compared to...
Florida Growth Will Mean More Cat Losses; Premiums Must Rise – Summit
Dec 6 2021 // With good news comes bad, and vice-versa in Florida’s growing but rapidly deteriorating property insurance market, industry analysts said at a two-day Florida Chamber of Commerce Insurance Summit last week. First,...
Inflation, Loss Severity May Curb Nonstandard Auto Market’s Positive Momentum
Dec 6 2021 // Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may counteract recent positive...
Tennessee Approves 5.6% Cut in Workers’ Comp Loss Costs; COVID Impact Uncertain
Nov 30 2021 // The Tennessee commissioner of commerce and insurance has ratified a 5.6% decrease in workers’ compensation loss costs for voluntary market in 2022, which will result in the ninth straight year of rate decreases for...
Inflation, Loss Severity May Curb Nonstandard Auto Market’s Positive Momentum
Nov 24 2021 // Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may counteract recent positive...
Brit Completes $380M Loss Portfolio Transfer With Legacy Specialist RiverStone
Nov 19 2021 // Brit Ltd. announced it has completed a loss portfolio transfer (LPT) agreement with RiverStone International. The agreement is for predominantly legacy years of account on certain classes and certain discontinued classes...
Insurers Cut Their Appetite for Cyber Cover as Ransomware Losses Mount
Nov 19 2021 // LONDON – Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty payouts. Faced with increased...
China’s Ant Group Reports 39% Rise in Profits on Investment Gains
Nov 18 2021 // Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for...
India’s Paytm Tumbles in Market Debut, as Investors Question Lack of Profits
Nov 18 2021 // MUMBAI – Indian digital payments firm Paytm tumbled 25% on its maiden day of trade on Thursday, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever...
Insured Severe Weather Losses in U.S. Already Top $20B for 2021
Nov 15 2021 // Annual U.S. severe weather insured losses for 2021 have surpassed $20 billion after a rough October, even before the year is complete, according to a new Aon report. Multi-billion-dollar natural catastrophe-related...
U.S. Severe Weather Insured Losses Surpassed $20B After Rough October: Aon
Nov 15 2021 // Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report. “October is typically considered a...
Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses
Nov 15 2021 // All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower non-life, coronavirus-related...
Theft Down, Weather Losses Up in Homeowners
Nov 15 2021 // Catastrophic weather events such as wildfires, hurricanes and floods caused 39% of home insurance claims in 2020 – the highest percentage in the last six years. According to the 2021, LexisNexis Home Trends Report,...
When a Property Loss Extends to Liability in Senior Care Facilities
Nov 15 2021 // There’s a storm warning. It might be a hurricane, a tornado, a derecho, or a microburst. It doesn’t matter, they all have one similar characteristic, damaging winds. After the storm passes, whether a building...
A Look at Military Veterans’ Earnings, Employment After Active-Duty Service
Nov 11 2021 // New research from RAND Corp. finds that after leaving the service, many veterans earn less money than they did while in active duty. The report, Navigating a Big Transition: Military Service Members’ Earnings and...
FedNat Pulling Out of Louisiana, Texas Amid Heavy Storm Losses
Nov 10 2021 // After two years of heavy storm-related losses, FedNat Insurance is pulling out of the Louisiana and Texas markets and doubling down on its home state of Florida. FedNat announced its decision to exit non-Florida markets...
Allianz Posts Better-Than-Expected Q3 Net Profit as It Emerges From COVID Pressures
Nov 10 2021 // Allianz nudged its forecast for record profit in 2021 even higher on Wednesday after a bumper third quarter while it tries to work out how much money it may need to set aside for a U.S. investigation into its fund...
Top 20 Cyber Insurers in U.S. Including Loss Ratios: NAIC
Nov 9 2021 // The cyber insurance market in the U.S. grew to roughly $4.1 billion in direct written premiums in 2020, an increase of 29.1% from the prior year, reports the National Association of Insurance Commissioners...
Berkshire Hathaway Insurance Losses Continued in Q3 on Catastrophes, Pandemic
Nov 8 2021 // Overall net income fell at giant Berkshire Hathaway in the third quarter from $30.1 billion a year ago to $10.3 billion this third quarter, reflecting losses on insurance underwriting as well as the continuing effects of...
Kentucky Approves Another Workers’ Comp Loss Cost Decrease
Nov 5 2021 // The Kentucky Department of Insurance has approved another workers’ compensation loss cost decrease for employers in the state. The DOI announced this week that officials have ratified a 10.4% average reduction,...
