Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
RMS’s Sandy Insured-Loss Estimate Is $20-$25 Billion, WSJ Reports
Nov 15 2012 // Catastrophe modeling firm Risk Management Solutions’ insured loss estimate for Sandy would be in the range of $20 billion to $25 billion, according to a report from The Wall Street Journal. RMS has not yet published...
Too Early for Sandy Loss Estimate: Allstate
Nov 15 2012 // The Allstate Corp. said that its catastrophe losses for the month of October 2012 will exceed $150 million, but said it could not report a more specific loss estimate at this time. Allstate said it will issue a catastrophe...
Zurich’s 9-Month Business Operating Profit Flat at $3.2 Billion
Nov 15 2012 // The Zurich Insurance Group reported a business operating profit (BOP) of $3.2 billion and net income attributable to shareholders (NIAS) of $2.7 billion for the nine months ended September 30, 2012. The bulletin gave the...
Boating Loss From Superstorm Sandy Could Set Record
Nov 14 2012 // N.J. resident Kevin Kelly couldn’t quite tell the damage Superstorm Sandy caused his 30-foot Wellcraft Sportfisher when he saw it last week. It was in the middle of Shrewsbury Avenue in Highlands, N.J., under a pile...
Reinsurers’ Capital Can Absorb Sandy Losses Below $50 Billion: S&P
Nov 14 2012 // Standard & Poor’s Ratings Services said that the reinsurance sector’s strong capital and very strong earnings thus far in 2012 will allow it to withstand losses well outside the range of current insured...
Q&A With Attorneys on Emerging Business Insurance Topics
Nov 13 2012 // As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance...
Chubb Suspends Stock Buyback as It Counts Sandy Losses
Nov 13 2012 // Property/casualty insurer Chubb Corp. suspended its stock buyback program, because it has not yet been able to determine what its total costs related to Superstorm Sandy will be. The Warren, N.J.-based company is...
Superstorm Sandy Stress Scenarios Won’t Impact Insurer Ratings: Fitch
Nov 8 2012 // Even an extreme $40 billion scenario for property/casualty insurance industry losses from Hurricane Sandy would not drive material rating changes for insurers, analysts at Fitch Ratings said today. In a report providing a...
Swiss Re Posts $2.2 Billion Q3 Net Income
Nov 8 2012 // Swiss Re reported net income of $2.2 billion in the third quarter of 2012, compared to $1.3 billion in the prior-year period, and a return on equity of 28 percent, “driven by continued strong performance from...
Munich Re Raises 2012 Profit Forecast on Stronger 9-Month Results
Nov 7 2012 // Munich Re said it expects a higher consolidated result for 2012 than previously envisaged. Following a profit of €2.7 billion [$3.47 billion] for the first nine months of 2012 (same period last year: €80 million...
Hannover Re Sees Little Sandy Impact; Raises Profit Forecasts
Nov 6 2012 // Hannover Re does not expect to be blown off course by damage from Hurricane Sandy in the United States, the German reinsurer said on Tuesday, as it beat quarterly profit forecasts and lifted expectations for this year and...
Sandy Losses Within Hurricane Models, Manageable: Reinsurer Hiscox
Nov 5 2012 // Superstorm Sandy won’t put insurers’ finances under severe strain, and may allow them to push through a profit-boosting rise in prices next year, Hiscox , the biggest London-listed reinsurer, said on...
AIG: Sandy Losses Won’t Be a Huge Issue Financially
Nov 5 2012 // The American International Group executives are assuring investors that Sandy-related losses won’t have any significant impact on the company’s financial strength. Also, AIG announced in its Sunday, Nov. 4,...
Chubb’s Q3 Profit Jumps 79%
Nov 5 2012 // The Chubb Corp. reported $533 million net profit for its third quarter, up 78.8 percent from $298 million reported during the same period one year ago. The quarterly results, released on Oct. 25, got a boost from...
Hurricane Sandy Losses Expected to Top Irene’s
Nov 5 2012 // Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting...
Hurricane Sandy’s Impact
Nov 5 2012 // Hurricane Sandy slammed into the New Jersey coastline on Oct. 29, bringing 80 mph winds and hurling a record-breaking 13.88-foot surge of seawater. Following the storm’s landfall, more than 7 million residences and...
P/C Insurers Can Handle Sandy Losses: A.M. Best
Nov 5 2012 // Ratings analysts at A.M. Best Co. said it is likely that the brunt of Hurricane Sandy’s financial impact will fall on the National Flood Insurance Program (NFIP), which is responsible for almost all flood coverage in...
‘Big One’ Looms in Minds of Experts Before California ShakeOut
Nov 5 2012 // A day before more than 9 million people in California took part in a massive nationwide earthquake drill in mid-October, U.S. Geological Survey seismologist Lucy Jones stood in a room full of risk professionals in the San...
What’s Ahead in Agency E&O
Nov 5 2012 // Competition, Hard Market, Healthcare Effects and More E&O Suits by Carriers Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends,...
Travelers Profit Soars to $864M in Q3
Nov 5 2012 // The Travelers Companies Inc. reported $864 million net profit for the third quarter — up 159 percent from the same period a year ago when the insurer posted a $333 million profit. Travelers’ latest earnings,...
