Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
What Insureds Should Know About Avoiding Cyber Liability Exposures
Mar 5 2012 // In today’s business world, digital information is fundamental to everyday operations. Whether it’s financial applications, email communications, supply chain management, content management, sales order...
Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders
Mar 5 2012 // Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire...
Insurers Face Huge Losses from Latest Deadly Tornadoes
Mar 3 2012 // Less than a year after a series of tornadoes caused some of the worse insured losses in U.S. history, the insurance industry is likely facing substantial costs again after storms killed at least 33 people on...
Nevada Workers’ Comp Loss Costs to See 1% Increase
Mar 1 2012 // Many Nevada employers will see a small increase in the premiums they pay for workers’ compensation insurance in 2012. Nevada Insurance Commissioner Scott J. Kipper has approved a filing from the National Council on...
Report: Arizona P/C Insurers See Premiums Written Fall and Losses Rise
Mar 1 2012 // A report on Arizona’s property/casualty insurers issued on Thursday 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...
State Farm Profit Took Hit in Stormy 2011
Mar 1 2012 // State Farm lost $4.5 billion on its property/casualty underwriting in 2011 – which is $1.3 billion more than it lost in 2010. The Bloomington, Illinois-based mutual insurer cited catastrophe claims as the main reason for...
5 Startup Businesses Agents Should Watch
Mar 1 2012 // It hasn’t been the best of times for America’s Main Street businesses. Often facing overwhelming competition from big box stores, many small businesses face an uphill battle from the outset and more than a few...
World Bank Says China Must Embrace Market Economy
Feb 28 2012 // China’s economy is near a turning point that demands that it relax its grip on industry and move towards free markets, the World Bank said on Monday as it forecast the country would become the world’s largest...
Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders
Feb 27 2012 // Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the “best in the world.” Buffett is chairman of the board of Berkshire Hathaway, which owns Berkshire...
Lloyds Bank’s Huge Loss Tied to Insurance Sales
Feb 27 2012 // U.K. high street lender Lloyds Banking Group on Friday posted a 2.8 billion pound ($4.4 billion) loss for 2011 after it set aside 3.2 billion pounds ($5 billion) to compensate customers who had been miss-sold payment...
Allianz Posts $3.73 Bn Net Income; Hit by Cat Claims, Sovereign Debt, Banks
Feb 24 2012 // Catastrophe claims and write downs on investments in sovereign bonds and banks were behind the profit fall revealed by Allianz, Europe’s biggest insurance group. On Thursday it reported net income of €2.804 billion...
AIG Posts Huge Q4 Profit on Tax Benefit; Chartis Reports $348M Income
Feb 23 2012 // Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit. The move, which sent the...
Swiss Re Reports $2.6 Billion 2011 Net Income Despite Nat Cats
Feb 23 2012 // Swiss Re reported net income of $2.6 billion for the full-year 2011, despite what it described as “an exceptional natural catastrophe burden” – a strong performance compared to the $863 million reported for...
Wisconsin Denied Medical Loss Ratio Waiver
Feb 21 2012 // The federal government has rejected Wisconsin’s request to phase in a requirement that health insurers spent 80 cents of every dollar in premiums on medical care, one of the provisions of the Obama...
North Carolina Wins Delay on Medical Loss Ratio
Feb 21 2012 // Federal regulators last week allowed North Carolina insurers a one-year delay in meeting a benchmark requiring that more of each health insurance premium dollar to go toward medical services and less toward overhead and...
Q4 Reports: Earnings Continue to Disappoint
Feb 20 2012 // The Hartford Q4 Profit Down 79% Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago. Results were dragged down by higher net capital losses and...
U-Haul Parent to Strengthen Loss Reserves on Discontinued Workers’ Comp Business
Feb 20 2012 // Reno, Nev.-based AMERCO (Nasdaq: UHAL) announced earlier this month that following an internal review of its property and casualty subsidiary’s excess workers’ compensation business, Repwest will take a third...
Fairfax Financial’s Quarterly Loss Widens on Cat Claims
Feb 17 2012 // Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter loss widened by 56 percent due to catastrophe claims and losses on the...
State Auto Increases Specialty Business in 2011
Feb 16 2012 // State Auto Financial Corp., headquartered in Columbus, Ohio, reported fourth quarter 2011 net income of $100.6 million, or $2.49 per diluted share, versus $37.6 million, or $0.94 per diluted share, for the fourth quarter...
Meadowbrook Reports Revenue Increase, Higher Combined Ratio in 2011
Feb 16 2012 // Meadowbrook Insurance Group Inc., headquartered in Southfield, Mich., reported an 11.6 percent increase in revenue for the full year 2011 and a GAAP combined ratio of 99.7 percent compared to 95.0 percent in 2010. Net...
