Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Five Startup Businesses Agents Should Watch
Feb 6 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...
Have Insurers Lost the Capacity to Run an Underwriting Profit?
Feb 6 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...
Earnings Reports: Validus Holdings
Feb 3 2012 // Q4 2011 Q4 2010 Gross premiums written -$278.28 mn $258.7 mn Full year – 2011 2010 $2.1247 bn $1.99 bn Net premiums earned — $488.35 mn $432.8 mn Full year – 2011 2010 $1.802 bn $1.761 bn Net income...
Los Angeles Sues Over $95M Losses To City’s Pensions
Feb 3 2012 // The Los Angeles city attorney has sued a major financial institution, alleging its investment practices cost the city’s pension fund $95 million. The lawsuit filed Wednesday alleges that Northern Trust Corporation...
West Virginia Candidate Maloney Denies Profit Over Safety Charge
Feb 3 2012 // West Virginia Republican gubernatorial candidate Bill Maloney said Democrats’ accusations that he values profits over safety are untrue. The founder of North American Drillers was among those who helped rescue 33...
Munich Re Sees $933 Million 2011 Profit Despite Cat Losses
Feb 2 2012 // Munich Re’s estimated earnings figures for 2011 confirm a net profit from its three sectors – reinsurance, primary and health –of €710 million [$933 million], compared to a net profit of €2.43 billion [$3.2...
Markel Reports $52.3M Q4 Income, Down 63% From One Year Ago
Feb 2 2012 // Markel Corporation reported $52.3 million for its 2011 fourth-quarter net income, down 62.8 percent from one year ago when the specialty insurer posted $140.4 million. For the 2011 full-year, Markel posted net income of...
Allstate Doubles Q4 Profit
Feb 2 2012 // Allstate Corp. reported that its profit more than doubled in the fourth quarter thanks to lower catastrophe losses and improved homeowners business. The big insurance company posted a fourth quarter net profit of $724...
U-Haul Parent to Strengthen Loss Reserves on Discontinued Workers’ Comp Business
Feb 1 2012 // Reno, Nev.-based AMERCO (Nasdaq: UHAL) announced on Wednesday that following an internal review of its property and casualty subsidiary’s excess workers’ compensation business, Repwest will take a third quarter...
Earnings Reports: ACE Limited
Feb 1 2012 // Q4 2011 Q4 2010 Gross premiums written $4.864bn $4.865 bn Full year – 2011 2010 $20.831 bn $19.511 bn Net premiums earned —- $3.831 bn $3.572 bn Full year – 2011 2010 $15.387 bn $13.504 bn Net income...
W.R. Berkley Posts Q4 Profit of $118M; Average Renewal Rates Up 4.2%
Feb 1 2012 // W.R. Berkley Corporation reported net income of $117.9 million for its 2011 fourth quarter, a 7 percent decline compared to the same period one year ago when the company reported $126.9 million net income. The Greenwich,...
New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models
Feb 1 2012 // A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe models and better plan for large loss events. Karen Clark & Co. (KCC), founded by a...
Willis Re Notes 25% Growth in Insurance Loss Warranty Market
Jan 31 2012 // A report from Willis Re in London points to 2011 activity as driving a 25 percent growth in Insurance Loss Warranties (ILWs) volume for 2012. The report estimates that the ILW market reached trading volumes of $6 billion...
Consumer Group Charges Auto Insurers with ‘Disparate Treatment’ of Low Income Families
Jan 30 2012 // A consumer group on Monday issued a study that alleges “disparate treatment” of low-to moderate-income families by auto insurers nationwide. The group is asking state insurance commissioners to consider...
UPDATE: Insured Loss Estimates from Thailand Floods
Jan 30 2012 //
