Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
$370 Billion Econ. Losses for 2011; $116 Billion Insured, Says Swiss Re
Mar 28 2012 // Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer...
How AIG Will – or Won’t – Generate a Bailout Profit for Taxpayers
Mar 27 2012 // CEO Bob Benmosche says U.S. taxpayers will earn up to $10 billion on the $182 billion rescue of American International Group, the insurance company he runs. Of course, that depends on how one defines...
Costly Natural Disasters Behind FM Global’s 2011 Net Loss
Mar 27 2012 // Rhode Island-based business property insurer FM Global said Monday it had a net loss of $41.5 million for 2011 — a stark contrast to $686.6 million profit the insurer had in 2010. FM Global, which was one of the last...
AIG CEO Benmosche Says Taxpayers Will Profit on Bailout
Mar 26 2012 // AIG expects American taxpayers to end up with a profit of $5 billion to $10 billion on the company’s 2008 rescue when all is said and done, the chief executive of the bailed-out insurer said on Monday. The U.S....
Allianz Confirms 2011 Earnings; Warns 2012 Won’t Be Easier than 2011
Mar 23 2012 // Allianz confirmed the earnings figures previously published in February in its 2011Annual Report, but Europe’s biggest insurance group also warned that it expects a tough 2012 as it works to counter the burden of low...
United Fire Says Losses from Storms May Be in $13M to $16M Range
Mar 22 2012 // United Fire Group Inc., headquartered in Cedar Rapids, Iowa, announced that it expects its first-quarter results through March to include pre-tax catastrophe losses, net of reinsurance, of approximately $13 million to $16...
A Role for Characteristic Event Methodology in Catastrophe Risk Management
Mar 19 2012 // When catastrophe models were first introduced in the late 1980s, they provided insurance and reinsurance companies with an improved methodology to estimate potential catastrophe losses from hurricanes. While the models...
Report: Arizona P/C Insurers See Premiums Written Fall, Losses Rise
Mar 19 2012 // A report on Arizona’s property/casualty insurers issued recently shows a drop in written premiums to $7.4 billion, and a large increase in losses incurred to $6.4 billion for 2010. The report, from the Arizona...
Liberty Mutual Posts $284M Q4 Income, Diversifies Business
Mar 19 2012 // Liberty Mutual Group reported $284 million in net profit for its 2011 fourth quarter — down 50.7 percent compared to the same period one year ago. The insurer said the quarterly operating results were hurt especially by...
N.Y. Court Enforces Flood Insurance Policy’s Proof-of-Loss Requirement
Mar 15 2012 // A New York appeals court recently affirmed a lower court’s ruling that a homeowner was not entitled to coverage under the policy from the National Flood Insurance Program because he failed to follow the proof-of-loss...
PERILS Lowers Loss Estimates from Windstorm Joachim to $377 Million
Mar 15 2012 // PERILS, Europe’s catastrophe data provider, has updated its loss report for windstorm Joachim, which occurred from December 15 to 17, 2011 in Western Europe. The second published loss estimate for Joachim is €289...
Bailout Watchdogs Criticize AIG Tax Deal
Mar 14 2012 // Former members of a congressional panel that oversaw bailouts during the financial crisis blasted the Treasury Department this week for quietly granting a tax break worth billions to insurance giant American International...
Oklahoma to Adopt ACORD Form for Loss Reporting
Mar 13 2012 // Oklahoma Insurance Commissioner John D. Doak announced from the 2012 National Tornado Preparedness Summit his intent to standardize Oklahoma’s insurance industry by utilizing ACORD’s 1 – Property Loss...
‘Super Losses’ in Healthcare Sector Growing in U.S.: Hiscox
Mar 13 2012 // The overall cost and frequency of so called $50 million plus “super losses” in the U.S. healthcare insurance sector are on the rise. According to a report from specialist healthcare insurer Hiscox, the large...
Munich Re Confirms 2011 Profit at $937 Mn; Forecasts $3.3 Bn in 2012
Mar 13 2012 // Munich Re’s official results largely confirm earlier estimates, made at the beginning of February. The world’s largest reinsurer, however, hopes to do a good deal better in 2012 than it did last year....
Report: Increasing Workers’ Comp Losses For California Public Self-Insureds
Mar 12 2012 // A analysis of more than 10 years’ worth of data shows for the fifth consecutive year increases in the average loss per claim, led by escalating medical losses, pushed up total workers’ compensation costs for...
ICA Declares Flood Zone Catastrophe; Economic Losses May Top $1.5 Billion
Mar 12 2012 // The Insurance Council of Australia has declared widespread areas of New South Wales and Victoria a formal catastrophe zone. The ICA said the declaration covers the NSW Riverina, NSW Central West and northern Victoria,...
Thai Reinsurance Expects 2012 Loss from Floods
Mar 8 2012 // Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country’s leading reinsurer is hit by higher provisions from flooding last year that have pushed up insurance premiums for natural...
Liberty Mutual Posts $284M Q4 Income; $365M Profit for Full Year
Mar 7 2012 // Liberty Mutual Group reported $284 million in net profit for 2011 fourth quarter — down 50.7 percent compared to the same period one year ago. The insurer said the quarterly operating results were hurt especially by...
AIG, Marsh & McLennan Q4 Earnings Improve
Mar 5 2012 // American International Group AIG reported a $19.8 billion profit for the 2011 fourth quarter, boosted by $17.7 billion in tax benefits. AIG said it has determined that it is likely to be consistently profitable in the...
