Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
The Hartford Says Sandy Losses $370 Million
Dec 11 2012 // Insurer Hartford Financial Services Group Inc said on Tuesday it expects pretax losses of $370 million from Superstorm Sandy, which ravaged New York and New Jersey in October. The Hartford said 60 percent of the losses...
Government to See $23 Billion Total Profit on AIG Bailout
Dec 11 2012 // The U.S. Treasury’s sale of its remaining stake in American International Group Inc. will fetch $7.6 billion, bringing the government a total profit of $22.7 billion from its crisis-era bailout of the insurer. The...
S&P Says Reinsurers Faced Unexpected Risks from Hurricane Sandy
Dec 11 2012 // A report from Standard & Poor’s Ratings Services notes that “despite uncertainties regarding final loss totals from Hurricane Sandy expects only a limited ratings impact on insurers and reinsurers exposed...
Sandy to Have Only Limited Impact on Insurer Ratings: S&P
Dec 11 2012 // Despite uncertainties regarding final loss totals from Hurricane Sandy, Standard & Poor’s Ratings Services said it expects only a limited ratings impact on insurers and reinsurers exposed to such losses,...
Connecticut Regulators Approve NCCI’s WC Loss Costs, Rates Hike Filing
Dec 10 2012 // The Connecticut Insurance Department recently approved National Council on Compensation Insurance’s workers’ compensation insurance filing for a change in voluntary market advisory loss costs and a change in...
Commercial Insurers Continue Raising Rates, Improve Loss Ratios: Towers Watson
Dec 10 2012 // Commercial insurance prices in aggregate increased by six percent during the third quarter of 2012, the seventh consecutive quarter that aggregate prices for all commercial lines rose. The latest Commercial Lines Insurance...
Alabama Court Changes Standard for Commercial Vehicle Total Loss
Dec 10 2012 // The Alabama Supreme Court has changed a 57-year-old standard on how commercial vehicle owners get compensated when their vehicle is totaled in an accident. The court held in 1955 that an owner who recovered damages for the...
AIG Estimates $1.3B Net Losses From Superstorm Sandy
Dec 10 2012 // American International Group Inc. announced that its preliminary estimate of the company’s after-tax losses related to Superstorm Sandy — net of reinsurance — will total approximately $1.3 billion. The...
Conn.-Based CMIC Hires Senior Loss Prevention Consultant
Dec 6 2012 // CMIC, a doctor-owned medical professional liability insurer serving New England, appointed healthcare veteran Denise Condron as senior loss prevention consultant. She is based in the company’s headquarters office in...
Travelers Cos.’ Preliminary Estimate: $650M Net Loss From Sandy
Dec 5 2012 // The Travelers Companies Inc. announced its preliminary estimate of net losses relating to Superstorm Sandy is approximately $650 million after tax and after estimated recoveries from reinsurance. This $650 million estimate...
