Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
P/C Insurers Profits Rose to $10.1B in Q1
Jun 27 2012 // Private U.S. property/casualty insurers’ net income after taxes rose to $10.1 billion in first-quarter 2012 from $7.8 billion in first-quarter 2011, with insurers’ overall profitability as measured by their...
Chartis Introduces Loss Prevention Services for Private Client Group Yacht Clients
Jun 21 2012 // Chartis has introduced a suite of loss prevention services for yacht insurance clients within its U.S. Private Client Group. Claims experience on Private Client Group policies underwritten by Chartis insurers has shown...
Colo. Ranchers Selling Off Cattle To Avoid Drought Loss
Jun 20 2012 // Ranchers in western Colorado are selling off cattle to avoid losing them to a severe drought. Livestock auctioneer Bill Martin of Loma says his auction barn usually sees between 200 and 400 cows a week, but this year the...
Dallas Hailstorm Loss Estimate Drops Below $1 Billion
Jun 20 2012 // Insured losses from last week’s violent hailstorm in Dallas should be just under $1 billion, a trade group for Texas insurers said on Tuesday, sharply less than what another industry group estimated last week. The...
Dallas Hailstorm Insured Losses Could Reach $2 Billion
Jun 18 2012 // Inspecting hail damage. AP Photo/The Dallas Morning News, Nathan Hunsinger Insured losses from the massive hailstorm that struck the Dallas area on Wednesday could reach as much as $2 billion, making it one of the most...
PERILS Updates Loss Estimates from Windstorm Joachim
Jun 15 2012 // Swiss based insurance advisor PERILS has issued an updated loss report for windstorm Joachim, which occurred from December 15 to 17, 2011 in Western Europe. PERILS’ third property market loss announcement estimates...
Groups Decry Loss of Okla. Human Rights Commission
Jun 13 2012 // Several groups representing the interests of minorities in Oklahoma criticized the elimination of the Oklahoma Human Rights Commission and met on June 11 to form a new coalition to promote equality and end...
UK Insurers Face Floods Losses; May Raise Premiums
Jun 12 2012 // British insurers face big claims for flooding after the heavy rainfalls across the country this month, making it harder for them to hit profit targets and potentially forcing them to raise premium rates for consumers,...
Workers’ Comp Market Injured But Still Standing
Jun 8 2012 // Like the economy, the workers’ compensation market has suffered in recent years. Results for 2011 were no better than 2010. The good news: results for the workers’ comp market were not worse either. The...
Aon Benfield May Cat Report Highlights Italian Quakes; $6 Billion Econ. Loss
Jun 8 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has released its latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide...
Nasdaq Offers $40 Million to Cover Facebook IPO Losses
Jun 7 2012 // Nasdaq OMX Group Inc. said it will offer cash and rebates totaling $40 million to compensate clients affected by the problems with Facebook Inc.’s initial public offering, an amount well short of the losses claimed...
Insurance Covers Some Of Loss Powell Hospital In Wyoming
Jun 4 2012 // An insurance payment of $205,000 will help compensate Powell Valley Healthcare for its loss due to the alleged embezzlement of nearly $850,000 by former chief executive officer. Current CEO Bill Patten told the Powell...
Insurer to Cover Half of R.I. City’s $389K Loss Caused by Embezzlement
May 24 2012 // An insurance company has paid the city of Woonsocket, R.I., $200,000, which covers about half the money the city says it lost to embezzlement. City Finance Director Thomas Bruce III tells the Woonsocket Call the city filed...
General Ledger Accounting for P/C Agencies
May 23 2012 // In current practice insurance premium accounting is based on general ledger (GL) accounting. It is used by all agency management software applications: AMS, Applied Systems, etc., just to name a few. Developed more than...
SpaceX Insured For ‘Maximum Probable Loss’
May 22 2012 // SpaceX successfully launched its Falcon 9 rocket carrying a Dragon spacecraft to orbit on Tuesday as part of a mission that would make it the first commercial company to attempt to send a spacecraft to the International...
Q1 Earnings: AIG, Liberty Mutual Profits Soar
May 21 2012 // AIG Profit More Than Doubles American International Group Inc. reported $3.21 billion net income for its 2012 first quarter, a 147 percent increase from $1.30 billion net income posted during the same period one year...
April Weather Caused $1 Billion in Insured Losses in U.S.: Aon
May 21 2012 // A series of severe weather events across central and southern sections of the United States in April caused upwards of $1 billion in insured losses, according to Aon Benfield’s Global Catastrophe Recap report. During...
The Health Workers’ Compensation
May 21 2012 // Injured But Still Standing Like the economy, the workers’ compensation market has suffered in recent years. Results for 2011 were no better than 2010. The good news: results for the market were not worse either. The...
Average Approved WC Loss-Cost Change +2.8% in Northeast in 2012
May 21 2012 // The workers’ comp loss-costs are continuing to go up in most Northeastern states, according to the National Council on Compensation Insurance Inc. Based in Boca Raton, Fla., NCCI analyzes industry trends, prepares...
U.S. Treasury Could See $15 Billion Profit from AIG Bailout: GAO
May 21 2012 // U.S. taxpayers could see a profit from the 2008 bailout of American International Group Inc. (AIG), according to a Congressional report. “When all the assistance is considered, the amount the federal government...
