Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lloyd’s Report Finds Customer Loss, Staff Shortages as Business’ Top Fears
Dec 7 2011 // Losing customers and struggling to find talented workers are the top two risks facing business leaders across the world, according to a new report published by Lloyd’s. The report, based on a global survey of 500...
U.S. P/C Insurers’ Catastrophe Losses Top $38 Billion
Dec 5 2011 // Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best...
P/C Insurers’ Q3 Earnings Declined 70% From One Year Ago: Moody’s
Dec 5 2011 // Property/casualty insurance companies saw their income plummeting significantly in the latest earnings season. Moody’s Investors Service says a group of 23 publicly traded P/C insurers it rates had a whopping 70...
Most Health Insurers Meet Controversial Medical Loss Ratio
Dec 1 2011 // Most U.S. health insurers last year would have satisfied the much-disputed spending rules under President Barack Obama’s healthcare reform, according to a new report by a congressional watchdog agency. The rules...
Best Briefing Concludes Majority of Thai Flood Losses from BI Claims
Nov 28 2011 // A.M. Best Co. reports that the vast majority of insurance losses stemming from the massive flooding in Thailand will come predominately from the impact to manufacturing and supply chains, as discussed in the recently...
Insured Loss Estimate from Hurricane Irene Rises to $4.3 Billion
Nov 28 2011 // An insurance industry service that tracks catastrophe losses has sharply raised its estimates for August’s Hurricane Irene, projecting insured property damage of $4.3 billion from the first hurricane to hit the...
Claimed Auto Injury Losses in N.Y. Metro Area Rose 70% in 10 Years
Nov 22 2011 // Personal injury protection (PIP) claims closed in 2010 show that claimed losses for medical expenses, lost wages, and other expenses from auto accident injuries in the New York City area rose 70 percent over the past...
Georgia to Phase-In Medical Loss Ratio
Nov 21 2011 // Health insurers in Georgia have been granted a waiver to a new federal requirement that they spend certain minimums on patient care and quality. Georgia is the eighth state to get such an exemption from what is known as...
P/C Companies in Northeast Reported Weak Q3 Earnings
Nov 21 2011 // The property/casualty companies headquartered in the Northeast came out with third-quarter earnings – with virtually all companies posting weaker results compared to one year ago. Same phrases came up again and...
Fitch Affirms Everest Re’s Ratings; Outlook Stable
Nov 17 2011 // Fitch Ratings has affirmed the ratings of Everest Re Group, Ltd.’s debt-issuing holding company, Everest Reinsurance Holdings, Inc. and its subsidiaries. “Everest’s debt ratings are only one notch lower...
SCOR Reports Q3 Net Income of $255 Million; Gains on Transamerica Sale
Nov 15 2011 // French reinsurer SCOR Group announced net income for the third quarter of 2011 of €188 million [$255 million], a 70.1 percent increase from the same period last year, as gross written premiums topped €2 billion [$2.71...
Allianz Q3 Net Profit Hit by ‘Market Turmoil; Figures Show Decreases
Nov 14 2011 // Allianz reported Net income of €258 million [$353.46 million] for the third quarter of 2011, compared to €1.268 billion [$1.737 billion] in Q3 2010, a 79.7 percent drop. For the first nine months of the year...
Nationwide Posts Q3 Loss on Weather, Interest Rates
Nov 14 2011 // Nationwide Mutual reported a third-quarter loss Friday, as the property insurer said it was hurt by investment losses and continuing high levels of claims from natural disasters. Privately held Nationwide, one of the...
Hannover Re Posts $518 Million 9-Month Net Income
Nov 10 2011 // Germany’s Hannover Re expressed satisfaction with the Group’s net income for the first 9 months of 2011, as it posted a profit of €381.7 million [$518.34 million]. Chief Executive Officer Ulrich Wallin noted...
Zurich Reports $3.2 Billion 9-Month Net Income; Operating Profit $3.258 Billion
Nov 10 2011 // Zurich Financial Services Group reported a business operating profit (BOP) for the nine months ended September 30, 2011 of $3.258 billion, an 8 percent decline from 2010, when it posted $3.537 billion. However,...
Tower Group Has $16.4M Q3 Loss, Hurt By CAT Loss From Irene
Nov 9 2011 // Tower Group reported a net loss of $16.4 million attributable to common shareholders in the third quarter. In contrast, the insurer had $28.6 million net income one year ago. Like many other insurers this past quarter,...
Georgia Allowed to Phase-In Healthcare Law’s Medical Loss Ratio
Nov 9 2011 // Health insurers in Georgia have been granted a waiver to a new federal requirement that they spend certain minimums on patient care and quality. U.S. officials on Tuesday announced that Georgia is the eighth state to get...
State Auto Financial Reports Loss of $58.7M in Q3
Nov 9 2011 // Columbus, Ohio-based State Auto Financial Corp. has reported a third quarter 2011 net loss of $58.7 million, or $1.46 per diluted share, versus net income of $0.2 million, or $0.00 per diluted share, for the third quarter...
Markel Posts $54.7M Q3 Income, Sees Firming in Workers’ Comp Market
Nov 8 2011 // Markel Corporation reported $54.7 million for its third-quarter net income, down 13.4 percent from one year ago when the specialty insurer posted $63.2 million. The insurer’s result was hurt by increased catastrophe...
Alleghany Posts $19.2M Q3 Profit, Down 48% From Last Year
Nov 8 2011 // Alleghany Corp. reported $19.2 million in third-quarter net earnings, down 48 percent from one year ago when the company had $36.6 million in earnings. The company’s result reflects the decrease in pre-tax net...
