Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allstate Estimates $440M Catastrophe Losses for May
Jun 23 2014 // Allstate Corp. estimated that it had $440 million in pre-tax catastrophe losses for the month of May 2014 —or $286 million after taxes. The Northbrook, Ill.-based company said 11 events contributed to May losses, at an...
Ascension in California Names Figueroa Senior Loss Consultant
Jun 18 2014 // Walnut Creek, Calif.-based Ascension Insurance Inc. has hired Marco Figueroa as a senior loss consultant. Figueroa will work with clients to provide risk management and safety and health services. Figueroa has 19 years of...
Top Loss Leaders in the Oil Patch? Commercial Auto, Workers’ Comp
Jun 18 2014 // There’s no doubt that new advancements in the practice of hydraulic fracturing, or fracking, are driving the current production boom in the oil patch. The technique, which is used to retrieve oil and gas reservoirs...
How New Capital is Changing P/C Industry and What To Do About It
Jun 17 2014 // As waves of capital reshape reinsurer’s business model, the property/casualty insurance industry needs to change although exactly how remains a matter of debate. Reinsurers face a growing threat from the capital...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 16 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs), which investigated cases between January 2012 and...
Former Charleston Bank Officers, Directors Sued Over Losses
Jun 6 2014 // The U.S. government is suing some of the former leaders of the now-closed Atlantic Bank & Trust in Charleston. The Post and Courier of Charleston reported that the Federal Deposit Insurance Corp. wants to recover more...
One Year Later Insurance Losses From Black Forest Fire $420.5M
Jun 5 2014 // A year after the massive Black Forest Fire stuck Colorado, insured losses are now estimated at $420.5 million, according estimates released by the to the Rocky Mountain Insurance Information Association on Thursday. The...
The Hartford Names Carano Commercial Markets Loss Control VP
Jun 5 2014 // The Hartford has appointed Carl J. Carano vice president of loss control for the company’s Commercial Markets division. Carano will lead development of a risk management services for commercial insurance customers....
Revised PERILS’ Loss Estimate from Windstorm Xaver Exceeds $1 Billion
Jun 5 2014 // PERILS AG has released its third loss estimate for windstorm Xaver, a storm which affected Western and Northern Europe on December 5-6, 2013. Windstorm Xaver is also known as Sinterklaasstorm in the Netherlands, Bodil in...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 3 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December...
Best Upgrades State Farm General’s ICR; Affirms State Farm and Subs FSR’s
Jun 2 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of State Farm General Insurance Company, and...
Lower Cat Losses Helped Home Insurers to First Profit Since 2007: SNL
Jun 2 2014 // The U.S. homeowners insurance industry benefited from lower catastrophe activity in 2013 and became profitable for the first time since 2007, according to an analysis by SNL Financial. According to SNL, all of the top 20...
The Importance of Having an Integrated Services Solution
Jun 2 2014 // U.S. multinational businesses are increasingly seeking opportunities in new regions of the world, expanding outside of the United States and continental Europe into sub-Saharan Africa, Asia and Latin America. As their...
P/C Insurance Industry Loss Reserves Stable: Conning
May 20 2014 // The property/casualty industry’s loss reserve position is slightly improved as of year-end 2013, according to Conning. “Overall, the industry continues to appear to have sufficient reserves, with a modest...
R.I. Approves WC Advisory Loss Costs Increase of 2.5% for Industrial Classes
May 19 2014 // Rhode Island’s Department of Business Regulation, Insurance Division, on May 15 approved a +2.5 percent overall increase in advisory loss costs for workers’ compensation for industrial classes and an overall...
NCAA Athletes Drop Image-Use Damages Claim, Pursue Future Earnings
May 19 2014 // Ex-National Collegiate Athletic Association players suing to gain a share of the $800 million of annual broadcast revenue reaped by the organization said they won’t seek damages for past use of their images, instead...
FEMA Extends ‘Proof of Loss’ Deadline for Sandy Flood Claims
May 19 2014 // The Federal Emergency Management Agency (FEMA) issued a bulletin on April 28 announcing that it will grant an additional extension to Superstorm Sandy victims for the “proof of loss” filing deadline for their...
Lower Cat Losses Helped Home Insurers to First Profit Since 2007: SNL
May 16 2014 // The U.S. homeowners insurance industry benefited from lower catastrophe activity in 2013 and became profitable for the first time since 2007, according to an analysis by SNL Financial. According to SNL, all of the top 20...
Generali Begins Talks on BSI Sale; Q1 Profit Up 9.4%
May 15 2014 // Italian insurer Generali expects to meet key capital and asset sales targets ahead of time after kicking off talks with Brazil’s BTG Pactual for a possible sale of Swiss unit BSI, a central plank of its...
Zurich Insurance Q1 Profit Up 20%
May 15 2014 // Zurich Insurance Group AG, the biggest Swiss insurer, said first-quarter profit rose 20 percent, helped by capital gains on investments. Net income rose to $1.27 billion from $1.06 billion in the year-earlier period, the...
