Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
West Explosion Insured Losses Hit $100M
Apr 24 2013 // “Daddy, are we dead?” Those were the first words from 9-year-old Kaden Anderson after an explosion ripped apart the fertilizer plant in West on April 17. Kaden was riding with his father Bryan who had driven...
Travelers Q1 Profit Up 11% to $896M; CEO Says ‘We Will Keep Going’ on Rate Hikes
Apr 24 2013 // The Travelers Companies Inc. on Tuesday reported $896 million net income for its 2013 first quarter, an increase of 11 percent compared to $806 million income reported during the first quarter of 2012. Travelers said the...
ACE Reports $953 Million Q1 net Income; P&C Combined Ratio 88.2%
Apr 24 2013 // ACE Limited reported net income for the quarter ended March 31, 2013 of $2.77 per share – $953 million – compared with $2.84 per share -$973 million- for the same quarter last year. Operating income was $2.17...
Texas-Based Halliburton Posts 1Q Loss on Oil Spill Litigation Charges
Apr 23 2013 // Houston, Texas-based Halliburton says it lost $18 million in the first quarter, pulled down by $637 million in charges related to its role in the 2010 Gulf of Mexico oil spill. But it made money if unusual items are...
Penn.-Based Donegal Group Posts $6.5M Q1 Income
Apr 18 2013 // Marietta, Penn.-based Donegal Group Inc. reported on Wednesday net income of $6.5 million for the first quarter of 2013, down nearly 17 percent compared to $8.0 million profit for first quarter of 2012. The company said...
N.Y. Reaches Settlement With QBE Over ‘Force-Placed’ Insurance Business
Apr 18 2013 // New York officials announced this morning that a New York State Department of Financial Services (DFS) investigation produced an additional settlement with a major “force-placed” or “lender-placed”...
Willis Re Claims Exec on Mutual Insurers’ Cat Loss Exposures
Apr 17 2013 // Willis Re may be positive about the market changes that could benefit mutual insurers , but Barry Costi-Mouyia, Technical Claims Director of Willis Re, has indicated that while many of the claims issues arising from...
Losses from Ohio Summer Storms Higher than Initial Estimate
Apr 15 2013 // Updated data indicates insured losses from storms that socked Ohio in late June and early July totaled $845 million in the state, or nearly double the initial estimate released by an insurance industry trade group. The...
Agency Principals, Producers, CSRs, All Employees: Which Operations Most Affect Profits?
Apr 14 2013 // Agency and brokerage principals and CSRs and all other employees: You are invited to participate in a unique Agency Operations & Profit Survey that takes less than 10 minutes to complete and will provide you with key...
N.J. Transit: Post-Sandy Costs $450M and Still Rising; Federal Funds, Insurance to Cover Losses
Apr 12 2013 // The costs continue to mount for New Jersey Transit in the wake of Superstorm Sandy. At its monthly board meeting Wednesday, the agency approved paying another $28 million to a Canadian company to repair locomotives damaged...
Best Affirms Ratings of Endurance Specialty and Subs; Outlook Stable
Apr 10 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Endurance Specialty Insurance Ltd. and its affiliates, as well as the ICR...
Best Affirms Aegon’s U.S. and Canadian Subs Ratings; Outlook Stable
Apr 10 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the U.S. life/health subsidiaries of the Netherlands Aegon N.V....
M6.3 Quake Strikes Iran Coast; Minimal Insured Losses Expected: AIR Analysis
Apr 10 2013 // Catastrophe modeling firm AIR Worldwide has issued a bulletin on the earthquake that struck the southwestern coast of Iran this morning, April 10, 2013. AIR said the quake was magnitude 6.3 and struck 55 miles [88 kms]...
North Carolina Tax Reformers Seek Code in Keeping with New Economy
Apr 8 2013 // Republican legislative leaders and Gov. Pat McCrory brimmed with optimism early this year about prospects for passing a North Carolina tax code overhaul that most agree has been needed for decades. Still, they didn’t...
Insurance Covered Half of U.S. Disaster Costs in 2012: Swiss Re
Apr 8 2013 // Natural catastrophes and man-made disasters caused $186 billion in economic losses globally in 2012 and took approximately 14,000 lives, according to global insurer Swiss Re’s latest sigma study. The United States...
Aon Benfield Cat Report: Severe Winter Causes $1.8bn Econ. Loss in Europe
Apr 5 2013 // The latest catastrophe report for the month of March from Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, highlights the sub-freezing temperatures across Europe, which have...
Health Insurance Subsidy Could Bring Tax Sting
Apr 4 2013 // Millions of people who take advantage of government subsidies to help buy health insurance next year could get stung by surprise tax bills if they don’t accurately project their income. President Barack Obama’s...
Newspaper Analysis: Ohio Per Capita Income on Rise
Apr 4 2013 // Ohio’s per capita income rose at one of the fastest rates in the nation last year, another sign that the Rust Belt state’s economy is bouncing back after the recession. The measure that includes all earnings...
Businesses Ask IRS to Clarify Obamacare Investment Tax
Apr 3 2013 // Businesses and wealthy owners of estates and trusts asked the IRS on Tuesday for changes to a part of President Barack Obama’s 2010 healthcare law that has received comparatively little attention: a 3.8 percent tax...
E&S Opens Field Loss Mitigation Operation in Southern California
Apr 2 2013 // E&S Inspections Inc., a newly opened firm specializing in field loss mitigation services for the insurance sector, has started operations from its Santa Clarita, Calif. headquarters. The firm provides commercial and...
