Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
UPDATE: Insured Loss Estimates from Thailand Floods
Jan 30 2012 //
Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings
Jan 27 2012 // In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance...
Chubb Posts $452M in Q4 Profit, Approves $1.2B Share Buyback
Jan 27 2012 // The Chubb Corporation reported fourth-quarter net income of $452 million, down 27 percent from $620 million net income reported during the same period one year ago. The Warren, N.J.-based insurer said the results were hurt...
S&P: Excess Capital, Strong ERM Give Reinsurers 2011 Cat Loss Cushion
Jan 26 2012 // Standard & Poor’s Ratings Services announced that it is “maintaining its stable outlook on the global reinsurance sector despite the near-record level of catastrophe losses in 2011,” as it...
Everest Re Estimates Q4 Total Catastrophe Losses at $245 Million
Jan 25 2012 // The Bermuda-based Everest Re Group announced that it expects to incur net catastrophe losses of approximately $245 million, after reinstatement premiums and taxes, for the quarter. “This loss provision includes an...
HCC’s Cat Losses in Q4 Mostly Related to Thailand Flooding
Jan 25 2012 // HCC Insurance Holdings Inc., headquartered in Houston, has reported preliminary fourth quarter 2011 catastrophe losses, after reinsurance and reinstatement premium, of $10 million pretax ($6.5 million after-tax). These...
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...
