Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Art Insurers Face Record Loss from Superstorm Sandy
Dec 21 2012 // Fine art insurers face claims of up to half a billion dollars, their biggest ever payout, to compensate the owners of artwork destroyed when Superstorm Sandy flooded galleries in New York. Work by 1960s graphic artist and...
Argo Group Estimates Preliminary Sandy Losses between $45 – $55 Million
Dec 21 2012 // The Bermuda-based Argo Group International Holdings, Ltd. announced that it expects its 2012 fourth quarter results to include pre-tax catastrophe losses, related to Hurricane Sandy, of between $45 million and $55 million,...
Alleghany Expects $288M Sandy Loss; Assurant Estimates $200M Loss
Dec 20 2012 // Alleghany Corporation said this week its preliminary estimate of after-tax loss related to Sandy — net of reinsurance and reinstatement premiums — would be approximately $288 million. Alleghany said this...
Sandy Loss Estimates: Lancashire – $40 to $60 Mn; Maiden Holdings – $25 to $35 Mn
Dec 20 2012 // Bermuda and London-based insurer Lancashire Holdings Limited has estimated that the “net impact on its fourth quarter financial results from Sandy is likely to be in a range of between $40 million and $60...
Sandy Losses: Arch Capital – $170 to $240 Million; PartnerRe – $200 to $240 Million
Dec 20 2012 // Bermuda-based insurers Arch Capital Group Ltd and PartnerRe Ltd. Have released their respective preliminary estimates of losses incurred from Hurricane Sandy. Arch said its preliminary estimate of losses “ranges...
Asbestos Loss Estimate Now at $85 Billion: A.M. Best
Dec 19 2012 // Insurance rating firm A.M. Best this week raised to $85 billion its estimate for losses that U.S. property and casualty insurers can ultimately expect from lawsuits brought by victims of asbestos exposure. Best, the major...
Swiss Re Estimates 2012 Economic Losses at $140 Billion; $65 Billion Insured
Dec 19 2012 // According to Swiss Re’s sigma preliminary estimates, economic losses from natural catastrophes and man-made disasters will likely reach at least $140 billion in 2012, while total insured losses from natural...
Latest Sandy-Loss Estimates From Axis Capital, Platinum, Beazley
Dec 18 2012 // Axis Capital Holdings Ltd. said this week its preliminary estimate of the total net financial impact of Sandy is around $300 million — net of tax and estimated recoveries from reinsurance and including estimated...
Zurich Estimates Sandy Losses at $700 Million; $40 Million for Farmers Re
Dec 18 2012 // Zurich Insurance announced that it currently estimates aggregate claims net of reinsurance of about $700 million relating to Storm Sandy. “This includes $40 million related to Farmers Re in connection with the...
Catlin Estimates Storm Losses from Sandy at around $200 Million
Dec 18 2012 // The Bermuda-based Catlin Group Limited announced that it currently estimates its Sandy-related losses at approximately $200 million, net of reinsurance and reinstatements. Catlin noted that the “storm system caused...
Best Affirms W. R. Berkley Corp and Subs ‘A+’ Ratings
Dec 17 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of’ A+ (Superior) and issuer credit ratings (ICR) of “aa-” of the property/casualty members of Berkley Insurance Group – Admiral...
Best Special Report Focuses on Asia-Pacific Insurers Cat Loss Challenges
Dec 17 2012 // A special report from A.M. Best analyzes the “reduced frequency of large-scale catastrophes through November 2012, which, Best said, has “helped Asia-Pacific non-life insurers to slowly recover from losses...
Double-Digit Returns Absent From Year-End, 2013 Financial Forecasts
Dec 17 2012 // Although analysts following the property/casualty insurance industry expect underwriting results for 2012 to be better than 2011 when full-year numbers are tallied, double-digit overall returns-on-equity are still not...
W.R. Berkley Estimates $40-$50 Million Net Loss From Sandy
Dec 14 2012 // W.R. Berkley Corp. announced it expects catastrophe losses attributable to Superstorm Sandy will be between $40 million and $50 million, before tax. The Greenwich, Conn.-based insurer said Thursday its loss estimate gives...
P/C Insurers’ Capital at ‘Historically High’ Levels: Fitch
Dec 14 2012 // Fitch Ratings has maintained its stable outlook for both the commercial and personal lines sectors of the U.S. property/casualty insurance industry. Insurers have withstood less favorable underwriting and economic...
Commentary: AIG ‘Profits’ an Insult to the Concept
Dec 13 2012 // To say taxpayers made money from their investment in AIG is to libel the very concept of profit. Come to think of it, it may well be a gross insult to the idea of investment too. The Treasury Department announced on...
XL’s Preliminary Loss Estimate for Hurricane Sandy around $350 Million
Dec 13 2012 // XL Group plc has announced that its preliminary net loss estimate related to Storm Sandy is around $350 million, pretax and net of reinsurance and reinstatement premiums. XL added that “approximately 60 percent of...
Chubb Estimates $570 Million Net Loss From Superstorm Sandy
Dec 12 2012 // The Chubb Corporation announced it estimates its losses from Sandy to be approximately $880 million before tax — or $570 million after tax. These amounts include estimated losses and loss expenses net of reinsurance...
ACE Puts Preliminary Estimates of Sandy Losses at $380 Million
Dec 12 2012 // ACE Limited announced that preliminary losses in the fourth quarter for the ACE Group of companies attributable to Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax,...
Hanover Insurance Estimates $120-140M Net Loss From Sandy
Dec 11 2012 // The Hanover Insurance Group Inc. announced its preliminary loss estimate from Superstorm Sandy. The Worcester, Mass.-based insurer said it currently estimates the net after-tax earnings impact of the storm to be in the...
