Most Popular Profit Loss Headlines This Year
The most viewed headlines from our Profit Loss Topic Page over the last year.
#1 Allstate’s Plan to Return to Profit in Auto
Feb 6 2023 // Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company’s number one priority: improve margins. Allstate ended 2022 with an unprofitable 110.1...
#2 Citizens’ Early Estimate of $3.8B in Ian Losses; Florida OIR Suspends Use and File
Sep 29 2022 // Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims from the storm, although...
#3 Allstate Announces May Catastrophe Losses, Auto Rate Hikes
Jun 15 2023 // Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but...
#4 Liberty Mutual Announces Organizational Changes, Leading to 370 US Job Losses
Jul 17 2023 // Liberty Mutual Insurance announced major organizational changes and executive leadership appointments, which are aimed at enhancing its personal and small commercial lines business in long-term strategic markets....
#5 Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates
Sep 30 2022 // Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new...
#6 Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Aug 1 2023 // Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President...
#7 Ray of Sunshine: Florida Insurers Show Profit as Citizens Takeouts Rise – S&P Global
Aug 2 2023 // Republished from S&P Global Market Intelligence For the first time in three years, Florida’s struggling domestic residential property insurers have posted a quarterly profit, according to an analysis by S&P...
#8 UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Jan. 1
Nov 14 2022 // The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the third quarter of this...
#9 Near $27B Underwriting Loss in 2022 Largest for U.S. P/C Insurers Since 2011
Mar 30 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...
#10 US P/C Records $8.2 Billion Underwriting Loss in Q1: AM Best
Jun 15 2023 // A rise in first quarter losses in the homeowners insurance line of business primarily put U.S. property/casualty underwriting results in the red, according to AM Best. The U.S. P/C industry booked a $8.2 billion...
#11 U.S. P/C Industry Records $26.5 Billion Underwriting Loss in 2022
Mar 23 2023 // The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, $21.5 billion more than the $5 billion underwriting loss reported in 2021, according to a report published by AM Best. The...
#12 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%...
#13 Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes
Feb 2 2023 // As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue. Results were in comparison to net income of $790 million for Q4...
#14 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...
#15 Video Shows Ian Storm Surge Devastated Part of Florida; Losses Mounting
Oct 3 2022 // Powered by InsuranceJournal.tv FORT MYERS, Fla. – Dave Lusk, who lives on San Carlos Island, sandwiched between Fort Myers and devastated Fort Myers Beach, Florida, told the story of how his daugther and her family...
#16 Lemonade Posts Q2 Loss of $67.2M, Reviews Homeowners Book
Aug 3 2023 // Artificial intelligence-powered insurer Lemonade recorded a net loss of $67.2 million for the second quarter compared with a net loss of $67.9 million a year ago during the same period. Catastrophes, specifically severe...
#17 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...
#18 Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7 Billion in Q2
Jul 20 2023 // Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month catastrophe losses include 18 events estimated at $1.13 billion, with...
#19 Allstate Readies Investors for Q4 Loss of Up to $335M
Jan 19 2023 // Allstate Corp. on Wednesday said it expects to end 2022 in the red with a net loss of between $285 million and $335 million for the fourth quarter, and a combined ratio of 109.1. Estimated adjusted net loss for the quarter...
#20 U.S. P/C Industry Posts Record Q1 Underwriting Loss: S&P
May 24 2023 // An analysis from S&P Global Market Intelligence found that the finger can be pointed at personal lines carriers for most of the property/casualty industry underwriting red ink during the first quarter. The U.S. P/C...
