Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lexington Offers International Student Tuition Income Loss Coverage
Feb 16 2012 // Lexington Insurance Co. has introduced HELP – International Catastrophe, a coverage designed to reimburse colleges and universities for the loss of tuition-related income that results when an enrolled international...
PERILS Estimates Windstorm Andrea Property Losses at $350 Million
Feb 15 2012 // According to PERILS, the Zurich-based catastrophe data provider, initial loss estimates for property losses caused by windstorm Andrea, which struck Western Europe at the beginning of January, are €267 million [$350...
Marsh & McLennan Posts $256M Q4 Profit, Up 26% From Prior Year
Feb 14 2012 // Marsh & McLennan Companies reported $256 million for its 2011 fourth-quarter net profit, up 26.1 percent from one year ago when it posted $203 million profit. For the 2011 full year, Marsh & McLennan posted net...
Lloyd’s Estimates Thai Flood Losses at $2.2 Billion
Feb 14 2012 // Lloyd’s announced that it is estimating its overall net claims from the flooding in Thailand last year to be in the $2.2 billion range. The figure is based on an industry loss estimate of between $15 and $20...
Earnings Report: Montpelier Re
Feb 13 2012 // Q4 2011 Q4 2010 Gross premiums written —- $91.7 mn $102.3 mn Full year – 2011 2010 $725.5 mn $720.0 mn Net premiums earned ——- $148.3 mn $162.2 mnn Full year – 2011 2010 $622.7 mn $625.4 mn Net...
Obama Budget Seeks Higher Taxes on Big Business
Feb 13 2012 // President Barack Obama’s 2013 budget proposal, released on Monday, calls for raising hundreds of billions of dollars from U.S.-based global companies, while ending cherished deductions and tax breaks for oil...
North Carolina Insurers Still Hoping for Medical Loss Ratio Waiver
Feb 13 2012 // The U.S. Department of Health and Human Services is going overtime as it decides whether to stick with federal standards that could mean $12 million in rebates for more than 58,000 North Carolina residents who buy their...
Best Analyzes Impact of Flood Losses on Thai Insurance Industry
Feb 10 2012 // A.M. Best Co. has released a briefing that provides updated estimates of insurers’ losses from the Thailand floods. The overall industry wide insurers’ loss estimates from the floods have increased 50 percent...
Hanover Posts $49M Q4 Profit; Pricing Improved in Commercial Lines
Feb 10 2012 // The Hanover Insurance Group, based in Worcester, Mass., reported $49.3 million for its 2011 fourth-quarter net income, down 15.6 percent from one year ago when the insurer posted $58.4 million profit. For the 2011 full...
Earnings Reports: Everest Re, XL Group
Feb 10 2012 //
Have Insurers Lost the Capacity to Run an Underwriting Profit?
Feb 9 2012 // We frequently hear people ask, “When is the next hard market going to come?” And by that they typically mean double-digit increases in premium growth for a sustained period of time. Of course, no one knows. But...
The Hartford Reports $127M Q4 Profit, Down 79% From One Year Ago
Feb 7 2012 // Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago when the company posted $619 million profit. Results were hurt by higher net capital losses...
Best Upgrades Fremont Ratings; Affirms Auto Club Group, P/C Members
Feb 7 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Michigan-based...
Selective Posts $16M Q4 Profit; Jan. Commercial Renewal Rates Up 4.5%
Feb 7 2012 // Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent from one year ago when the insurer posted $23.8 million profit. For the 2011 full...
Fremont Insurance Co. Ratings Upgraded; Auto Club Group Affirmed
Feb 7 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Fremont Insurance Co. (Fremont) of Fremont,...
Want Fries With That Insurance Policy? Restaurants on Fidelity National’s Menu
Feb 7 2012 // A title insurance and mortgage services company that already owns a stake in the Bakers Square restaurant chain is buying the restaurant operator O’Charley’s Inc., the companies announced. Fidelity National...
Aon Revenues Up 3% in Q4
Feb 6 2012 // Global insurance broker and risk management firm Aon Corp. reported that net income rose 19 percent in the fourth quarter 2011 to $277 million and overall revenues increased 3 percent to $3 billion. Fourth quarter...
Global Mining Insurance Market Capacity Down 30% After Losses: Willis
Feb 6 2012 // In 2011, the mining insurance market was not only hit by $2.7 billion in natural catastrophe losses, but over 60 operational losses totaling $835 million. The $3.5 billion total estimate of losses facing mining insurers...
Texas Medical Loss Ratio Waiver Request Rejected
Feb 6 2012 // A request by Texas to be excluded from a new law that limits how much health insurance companies can spend on overhead has been rejected. The medical loss ratio requirement is part of the Affordable Care Act, the federal...
