Most Popular Profit Loss Headlines This Year
The most viewed headlines from our Profit Loss Topic Page over the last year.
#1 NC Supreme Court Bucks Trend, Finds COVID Caused Physical Loss to Restaurants
Dec 16 2024 // Courts across the country have overwhelmingly ruled in favor of insurance carriers in claims disputes following the government-ordered closures of businesses during the COVID-19 pandemic. The North Carolina Supreme Court...
#2 Update: Re/Insurer Losses From LA Wildfires Expected to Be Significant but Manageable
Jan 10 2025 // Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for...
#3 State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P
Sep 26 2024 // State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis. The outlier result came even as...
#4 Update: LA Wildfire Insurance-Loss Estimates Approach $40 Billion
Jan 14 2025 // The cost of wildfires ravaging swaths of Los Angeles keeps rising, with new estimates of the total losses for the insurance industry now seen as high as $40 billion. The fresh figure Jan. 14 from Keefe Bruyette & Woods...
#5 California Wildfires Will Likely Lead to Large Economic and Insured Losses
Jan 8 2025 // Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what industry watchers say...
#6 After Florida Report, Georgia Senator Wants Investigation into MGAs, Insurer Profits
Mar 19 2025 // Concerns about Florida-based insurance carriers masking profits with the help of affiliated companies has spilled across the border into Georgia, with one state senator calling for an investigation. Sen. Nabilah Islam...
#7 Insured Losses From Los Angeles Wildfires Rising: $8B to $20B
Jan 9 2025 // Editor’s note: This story has been updated with new AccuWeather total loss estimates. With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of...
#8 Progressive Q2 Net Income Skyrockets Over 320%
Jul 16 2024 // Progressive Corp. today reported second quarter 2024 results of about $1.5 billion and a combined ratio of 91.9. Results for the Mayfield Village, Ohio-based insurer are in comparison to second quarter 2023 net income of...
#9 Travelers Triples Q3 Net Income, Reverses Underwriting Loss
Oct 17 2024 // Travelers on Thursday said third quarter net income was $1.26 billion compared to net income of $454 million during the same period a year ago on record net premiums, favorable prior year reserve development, and higher...
#10 Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses
Sep 6 2024 // New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of...
#11 Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Strong Q1 Net Income of $1.1B
May 16 2024 // Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024....
#12 California Policyholders May Be On the Hook for Wildfire Losses
Sep 9 2024 // California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire. The California Department of Insurance sent a bulletin to...
#13 LA Wildfires by the Numbers: Insured Losses, Total Losses, Ratings, Rates
Jan 24 2025 // The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses and damages, credit ratings—and lately worrying...
#14 Progressive to Pay $48M to New York Drivers Over Underpaid Total Loss Claims
Jul 5 2024 // Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles. The $48 million represents approximately...
#15 Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit
Aug 8 2024 // Liberty Mutual Holding Co. continued to put 2023’s losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of $585 million for...
#16 Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’
Jan 9 2025 // Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re. Overall economic...
#17 AM Best: US P/C Industry Improves Despite 2024 Underwriting Loss
Feb 21 2025 // The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. A report from industry rating agency AM Best this week said U.S. P/C...
#18 Allstate Reports May Pretax Catastrophe Losses of $1.4B
Jun 20 2024 // Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70%...
#19 Net Income at Selective Insurance Drops on Unfavorable Casualty Reserve Development
Jan 30 2025 // Selective Insurance Group reported a 24% drop in fourth quarter 2024 net income as its chief executive admitted the year did “not meet expectations.” Fourth quarter net income was $93.2 million compared to...
#20 Insured Losses Top $5B With Heavy Flooding but Few Covered by Flood Insurance
Sep 30 2024 // Estimates of insured losses from Hurricane Helene continue to range around $5 billion, not including flood insurance losses, as the death toll in the Southeast continued to rise, reaching 107 by Monday morning. In Florida,...
