Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Qatar Re Reports 60% GWP Increase; $16 Million Net Income
Apr 20 2015 // Qatar Re reported net income of $16 million in 2014, compared to $0.5 million in the previous year, just two years after the Company’s strategic repositioning as a global reinsurer. Gross written premiums increased...
Chubb Estimates Q1 Catastrophe Losses of $250M
Apr 20 2015 // The Chubb Corporation announced on April 7 that it estimates the impact of losses from catastrophes for the first quarter of 2015 to be approximately $250 million before tax ($0.69 per share after tax). The Warren, New...
Vienna Insurance Misses 2014 Profit Estimates on $85 Million Heta Writedown
Apr 14 2015 // Vienna Insurance Group AG wrote down debt of Austrian “bad bank” Heta Asset Resolution AG by 80 million euros ($85 million), a larger amount than expected, causing the firm to miss estimates for profit last...
Feds Charge 42 in Florida With $21M in Identity Theft Fraud Losses
Apr 13 2015 // Federal investigators say 42 people in South Florida have been charged with identity theft and fraud that involved intended losses of $21 million. Miami U.S. Attorney Wifredo Ferrer said Thursday the suspects were indicted...
Chubb Estimates Q1 Pre-Tax Catastrophe Losses of Approximately $250M
Apr 8 2015 // The Chubb Corporation announced Tuesday that it estimates the impact of losses from catastrophes for the first quarter of 2015 to be approximately $250 million before tax ($0.69 per share after tax). The Warren, New...
Combinability of Insureds
Apr 8 2015 // Consolidating separate legal entities’ loss experience to develop a common experience modification factor has the potential to cause confusion for the client and sometimes the agent. Clients may view such mixing of...
RMS Commends Tokyo’s Adoption of Nat Cat Quake Loss Reduction Plan
Apr 8 2015 // Catastrophe modeling firm RMS has issued a statement supporting the recently-announced plan by the city of Tokyo to halve expected earthquake casualties over the next ten years, urging other cities and countries to follow...
AIR Estimates Cyclone Niklas Insured Losses from $1.09 to $2+ Billion
Apr 7 2015 // Catastrophe modeling firm AIR Worldwide estimates that insured losses from Extratropical Cyclone Niklas will range between €1.0 billion and €1.9 billion [$1.09 to $2.07 billion], with the majority of losses in...
AIG Sued by Pimco Over Swaps, Subprime Losses
Apr 6 2015 // Pacific Investment Management Co. accused American International Group Inc. of misleading investors about “colossal” losing bets on unregulated credit-default swaps and subprime debt before the 2008 financial...
A.M. Best: European Reinsurers Report Strong Results, Growth Limited
Apr 6 2015 // Major European reinsurers have posted very strong full-year results for 2014 and continue to be well capitalized, with profitable underwriting results due to the absence of sizable natural catastrophes and ongoing reserve...
Maine Workers’ Comp Loss Cost Increases
Apr 1 2015 // The National Council on Compensation Insurance’s (NCCI) filing for the overall average workers’ compensation loss cost level change of +2.6 percent in Maine took effect on a new and renewal basis as of April...
Speed Camera Tickets Bring Nearly $17M in Revenue for NYC
Mar 31 2015 // Speed cameras have produced a surge in tickets and generated nearly $17 million in revenue for New York City. The Daily News reports that last year more than 445,000 speed-camera tickets were issued. That’s compared...
Ratings of Texas-Based National Lloyds, American Summit Affirmed
Mar 31 2015 // A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of Texas-based National Lloyds Insurance Co. (National Lloyds), and its affiliate, American...
A.M. Best: Germanwings Crash May Put More Pressure on Aviation War Sector
Mar 31 2015 // A.M. Best said the total insurance loss of Germanwings Flight 4U9525, which crashed in the French Alps on March 24, 2015 killing 150 people, may put further pressure on the beleaguered aviation war sector. The total...
Insurers Face Earnings Growth Challenges in Varying Global Economy: S&P
Mar 31 2015 // When it comes to finding earnings growth in 2015, the challenge facing the global insurance industry will be uneven economic conditions in many parts of the world, according to a report released by Standard &...
After Pao’s Loss, Silicon Valley Facing More Bias Suits
Mar 30 2015 // Kleiner Perkins Caufield & Byers’ decisive victory over Ellen Pao’s gender bias suit doesn’t mean Silicon Valley giants are off the hook. More lawsuits alleging gender discrimination, sexual...
Analysts Say Low Interest Rates to Drag on Insurer Profits, Dividends Long-Term
Mar 27 2015 // Rock-bottom interest rates could erode insurers’ earnings power and financial strength for years to come, putting an end to a string of stronger-than-expected rises in dividends, analysts said in reports published on...
Vantage Agora Launches Loss Analysis Tool for Brokers/Wholesalers
Mar 26 2015 // Insurance process provider Vantage Agora has released a new loss-analysis web application that gives insurance brokers, program managers and managing general agents the ability to view and analyze consolidated data on...
Shipping Losses Down in 2014 But New Threats Loom: Allianz
Mar 26 2015 // Shipping losses declined to 75 during 2014, a 32 percent drop from the previous year and well below the 10-year loss average of 127, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual...
Why Are Agency Employees Unhappy?
Mar 26 2015 // Agency employees are not happy when it comes to compensation, and money isn’t the problem. Despite increases in salaries and total compensation, many employees continue to be unsatisfied when it comes to overall...
