Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
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...
