Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Best Sees No Ratings Change for QBE Despite Lowered Profit Estimates
Jan 24 2012 // A.M. Best Europe – Rating Services Limited has commented that the ratings of Australia’s QBE Insurance Group Limited and its main insurance subsidiaries are unchanged following the market update issued by QBE on...
Hannover Re Expects Major Loss from Costa Concordia Capsize
Jan 24 2012 // German reinsurer Hannover Re AG says it expects the fatal capsizing of the Costa Concordia cruise ship to cost it tens of millions of euros (dollars).Hannover Re said it expects losses of some (euro) 30 million ($39...
Travelers: Q4 Profit Down But Pricing Rebounds Sharply
Jan 24 2012 // Travelers Companies Inc. reported a smaller profit for the fourth quarter, as it released less money from its reserves than a year earlier, though it also reported its biggest rate increases in eight years as the industry...
Workers’ Compensation Turn a Profit? Fahgettaboudit!
Jan 23 2012 // Workers’ compensation carriers with visions of profits over the next few years are dreaming. It ain’t goin’ to happen, according to insurance analysts at Standard & Poors Ratings Services. “All...
UPDATE: Insured Loss Estimates from Thailand Floods
Jan 23 2012 //
I.I.I.’s P/C Joint Industry Forum
Jan 23 2012 // Insurance industry conferences are usually serious and dry affairs. And they are probably even more so in the current environment where insurers have been grappling with huge catastrophe losses. But Dr. Robert Hartwig,...
Despite Heavy Catastrophe Losses, Top 25 P/C Insurers Report Premium Growth, Net Income Through Third-Quarter 2011
Jan 23 2012 // Amid the continued difficult economic conditions, a heightened frequency of catastrophic events in 2011 has resulted in nearly $40 billion of losses to insurers. The losses associated with these catastrophes have been...
Insurers Brace for Cold Weather Claims
Jan 21 2012 // Though summer weather is associated with devastating catastrophe losses, the winter season can be equally busy from a claims perspective. The third-largest cause of catastrophic losses behind hurricanes and tornadoes,...
Endurance Thai Flood Losses $76.5 Million; Ups Nat Cat Loss Amounts
Jan 20 2012 // Bermuda-based Endurance Specialty Holdings Ltd announced that its initial loss estimate related to the floods that occurred in Thailand in the fourth quarter of 2011 is $76.5 million. The announcement said they...
List of Insured Loss Estimates from Thailand Floods
Jan 19 2012 // Last year’s flooding in Thailand is shaping up to be one of the worst natural disasters in human history, with insured losses alone estimated at more than $15 billion. Following is a list of expected losses reported...
AXIS Estimates Thai Flood Losses at $48 Million; Updates 2011 Loss Estimates
Jan 18 2012 // Bermuda-based AXIS Capital Holdings Limited announced that the net financial impact of the severe flooding in Thailand on the Company’s fourth quarter results is expected to be $48 million – net of reinsurance,...
PartnerRe Estimates Thai Flood Losses at $120 Million
Jan 18 2012 // Bermuda-based PartnerRe Ltd. announced that it “expects to record a charge of approximately $120 million, pre-tax and net of retrocession and reinstatement premiums, in its fourth quarter 2011 results related to the...
P/C CEOs Say Low Interest Rates Push Need for Stringent Underwriting
Jan 17 2012 // The low interest-rate environment and poor investment income are pushing the need for more stringent underwriting for carriers, according to a panel of experts at a recent industry forum. Property/casualty insurers get...
XL’s Preliminary Thai Flood Loss Estimates: $135 to $185 Million
Jan 13 2012 // The XL Group gave preliminary net loss estimates related to the widespread floods in Thailand that reached their highest point during the quarter ended December 31, 2011, as ranging from approximately $135 million to $185...
Australia’s QBE Slashes 2011 Forecast; Shares Dive
Jan 12 2012 // Australia’s QBE Insurance Group said on Thursday its 2011 net profit would fall by as much as 50 percent after record catastrophe claims and it would cut its final dividend, sending its shares down as much as a...
Aon Benfield 2011 Catastrophe Study: $107 Bn Insured Losses; $435 Bn Economic
Jan 10 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued its “Annual Global Climate and Catastrophe Report,” which aggregates and analyses the natural disaster perils that...
Michigan Unlikely to Restore Lost Jobs for Decades
Jan 9 2012 // State budget director John Nixon likes getting together with fellow budget directors these days because it gives him a chance to brag about Michigan. After a decade of ongoing deficits, “we’re in a position now...
Trends for 2012
Jan 9 2012 // Soft Market Here to Stay, Merger Activity, Financial Pressures and More In order to be proactive, one needs to understand and exploit current and future trends. So what will 2012 be like for insurance agents and brokers?...
A Disciplined Approach to Underwriting
Jan 9 2012 // Now that 2011 is in the record books, various insurance company presidents soon will be disclosing and discussing their company’s year-end results. While the exact words may be different, don’t be surprised if...
