Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
W.R. Berkley Posts $101M Q3 Profit
Nov 5 2012 // Commercial lines insurer W.R. Berkley Corp. reported $100.95 million net profit for its third quarter, up 32.1 percent from $76.41 million reported during the same period one year ago. The Greenwich, Conn.-based insurer...
The Hartford’s Q3 Profit Soars; CEO Calls Hurricane Sandy ‘Manageable Exposure’
Nov 2 2012 // The Hartford Financial Services Group reported $401 million profit for its third quarter, up from $60 million profit posted during the same period one year ago. CEO Liam McGee said the Hartford generated strong...
Coverage Analysis: Sandy and Contingent Business Income Losses
Nov 2 2012 // Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued operational viability of that “non-related” entity. Their dependence on...
Big Business Interruption Losses Looming After Sandy
Nov 2 2012 // As the insurance industry makes assessments for superstorm Sandy’s impact, analysts say there is now the potential for significant business interruption (BI) and contingent business interruption (CBI) losses. Fitch...
Liberty Mutual Has $465M Q3 Profit, a Swing From $112M Loss a Year Ago
Nov 2 2012 // Liberty Mutual Insurance reported this week $465 million profit for its third quarter, a swing from a loss of $112 million a year earlier. The insurer’s profit for the first nine months of 2012 came in at $1.056...
AIG Profit Gains on Investments; P/C Earnings Fall But Pricing Improves
Nov 1 2012 // American International Group Inc. earned a larger-than-expected profit during the third quarter, due in part to big gains on its investment holdings. Questions about the sustainability of those profits, and uncertainty...
Eqecat Doubles Insured Loss Estimate for Sandy to $10-20 Billion
Nov 1 2012 // Catastrophe risk modeling firm Eqecat doubled its insured loss estimate range for Sandy, to $10 billion to $20 billion, with the total economic damage range now in $30 billion to $50 billion. Equcat’s previous...
China’s Ping An Insurance Reports Profit Up 20.6%
Nov 1 2012 // Ping An Insurance Co. of China said its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ahead. Ping An said it earned 2.1 billion yuan ($337 million) in the three months ending...
Allstate Reports Higher Q3 Profit; Expects ‘Significant But Not Material’ Sandy Losses
Nov 1 2012 // Home and auto insurer Allstate Corp. reported a larger profit for the third quarter on a decline in disaster losses and improving margins, as its chief executive said storm Sandy would not materially affect results this...
Barclays Facing New U.S. Investigations
Nov 1 2012 // Barclays, already rocked by an interest-rate rigging scandal, on Wednesday disclosed new U.S. regulatory investigations into the bank’s financial probity and also said its profit was hit by charges for mis-selling...
Hurricane Sandy Losses Should Not Affect Most Insurer Ratings or Premiums: S&P
Oct 31 2012 // Standard & Poor’s Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty insurers, global reinsurers, and certain catastrophe bonds. Although it...
Insurers Say Losses from Sandy Won’t Hit Florida
Oct 31 2012 // Insurance experts say the costs associated with losses from superstorm Sandy in the northeast should not affect Florida homeowners. Sam Miller of the Florida Insurance Council said Tuesday that the Florida market is...
HCC Insurance Holdings Reports Record Net Earnings in Q3
Oct 31 2012 // Houston-based HCC Insurance Holdings Inc. reported a record $107.1 million in net earnings for the third quarter ended Sept. 30, 2012. By comparison, the company’s net earnings for the third quarter of 2011 totaled...
Bank Holding Cos. Set Record in Insurance Brokerage Fee Income: Report
Oct 31 2012 // Bank holding companies (BHCs) set new records in insurance brokerage fee income in the second quarter and year-to-date (YTD) in the first half of 2012. According to the Michael White-Prudential Bank Insurance Fee Income...
Insured Losses From Hurricane Sandy $7-$15 Billion: AIR Worldwide
Oct 31 2012 // Catastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the U.S. would be in the range of $7 billion to $15 billion. AIR’s insured loss...
Hurricane Sandy Unlikely to Trigger Payouts from Catastrophe Bonds
Oct 30 2012 // Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the...
Hurricane Sandy Losses Expected to Top Irene’s
Oct 30 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...
P/C Insurers Can Handle Sandy Losses; Flood Program to Bear Brunt
Oct 30 2012 // Ratings analysts at A.M. Best Co. said that 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...
Initial Forecast: $5-10B Insured Losses Expected From Sandy: Eqecat
Oct 29 2012 // As the east coast braces for the impact of Hurricane Sandy, catastrophe risk modeling firm Eqecat issued this morning a preliminary estimate for potential economic and insured losses.A satellite image of Hurricane Sandy...
Sandy May Cause Mid-Single Digit Billions in Insured Losses: Validus CEO
Oct 29 2012 // With Hurricane Sandy expected to make landfall Monday night or early Tuesday, likely in New Jersey, one insurance executive is forecasting industrywide insured losses of up to mid-single digit billions of dollars. But this...
