Best Read Profit Loss Headlines
Headlines from our Profit Loss Topic Page with the most time spent reading.
#1 The Impacts of Inflation: Uncertainty and Non-Modelled Loss
May 4 2023 // This post is part of a series sponsored by CoreLogic. Insurers affected by Hurricane Ian’s damaging path across Florida at the end of September 2022 faced operational, regulatory and statutory requirements for...
#2 Epstein Victims Say Banks Chose Profits Over Following Law
Feb 22 2023 // Deutsche Bank AG and JPMorgan Chase & Co. chose to profit from Jeffrey Epstein’s sex-trafficking venture rather than follow the law, victims of the pedophile told a judge, urging him not to throw out their...
#3 The Infrastructure Crisis: As Business Losses Mount, New Demand for Utility Coverage?
Jan 11 2023 // When aging water pumps in Jackson, Mississippi, were shut down by floodwaters last August, knocking out water service to most of the city, companies that depend on clean water saw many of their customers and their revenue...
#4 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...
#5 Hurricane Ian Drives Global Insured Losses of $115B From Natural Disasters: Swiss Re
Dec 1 2022 // Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a...
#6 Yellen Warns Climate Change Could Trigger Asset Value Losses, Harming Economy
Mar 7 2023 // Climate change is already having a major economic and financial impact on the United States and may trigger asset value losses in coming years that could cascade through the U.S. financial system, Treasury Secretary Janet...
#7 California Regulators Could Decide Oil Profits Penalty
Mar 17 2023 // California Gov. Gavin Newsom said he wants state regulators to decide whether to impose the nation’s first penalty on oil companies for price gouging, pivoting after months of negotiations with legislative leaders...
#8 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...
#9 $5.4B Insured Losses from Winter Storm Elliot: KCC
Dec 29 2022 // Insured damage to residential, commercial, and industrial properties and automobiles will be about $5.4 billion from Winter Storm Elliot, according to modeler Karen Clark & Co (KCC). The storm affected 42 states from...
#10 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...
#11 Heritage Insurance Authorizes Another Stock Repurchase Plan After Downgrade, Losses
Jan 18 2023 // The board of directors for Tampa-based Heritage Insurance Holdings has authorized the repurchase of $10 million in shares from stockholders, marking the second buy-back plan in recent months. The super-regional company...
#12 RMS: Less Than $2B in Insured Losses from Hurricane Nicole
Nov 16 2022 // Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion. This estimate represents insured losses associated with...
#13 AIG Sees Q4 Profit Fall but General Insurance Underwriting Jumps 27%
Feb 16 2023 // Fourth quarter 2022 net income attributable to American International Group common shareholders fell to $264 million from about $3.7 billion the year prior, but the insurer’s general insurance business ended the year...
#14 Fraudulent Funds Transfer, Ransomware Are Main Drivers of Cyber Loss: Corvus
Dec 7 2022 // According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations. FFT comprised 36% of of the company’s cyber claims – an all-time high –...
#15 2 Big Cannabis Insurance Providers Say Losses from California Storms Not as Bad as Feared
Jan 27 2023 // Just how big an impact the recent historic California storms had on the state’s cannabis industry is still coming into focus, and while two of the biggest players in California’s cannabis insurance market are...
#16 Global Insured Losses From Natural Disasters Topped $130B in 2022 in 5th Costliest Year
Jan 26 2023 // Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon. Roughly 42% of economic losses were covered by public and private...
#17 Progressive Loses A Bundle: Nearly $2.0B Gross Ian Losses; $760M Net
Oct 13 2022 // Insurer Progressive incurred nearly $2.0 billion in gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian, sending over $1 billion of the total to reinsurers, the company reported...
#18 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...
#19 Root Books Another Net Loss; Stays Positive on Embedded Insurance Results
Feb 23 2023 // Calling embedded insurance the “next secular trend in distribution,” Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage to scale access in the channel and become...
#20 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...
