Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Erie Indemnity Posts $47M Q3 Profit, Down 13% From Last Year
Nov 8 2011 // Erie Indemnity, the managing company for Erie Insurance Group’s reciprocal insurance company, reported $47 million third-quarter profit. Profit is down 13 percent compared to one year ago. The third-quarter 2010 net...
Munich Re Posts $400 Million Q3 Profit in a ‘Difficult’ Year
Nov 8 2011 // Munich Re announced third-quarter profit “in a difficult environment” of €290 million [$400 million], compared to €761 million [$1.05 billion] in Q3 2010. The world’s largest reinsurer singled out the...
Congress Eyes New Income Insurance for Farmers
Nov 8 2011 // Farm-state lawmakers are moving to create a whole new subsidy that would protect farmers when their revenue drops — an unprecedented program that critics say could pay billions of dollars to farmers now enjoying...
AIR Worldwide Launches Inland Flood Model for Germany
Nov 8 2011 // Catastrophe risk modeling firm AIR Worldwide has released an inland flood model for Germany, which it said “offers a fully probabilistic approach for determining the likelihood of flood losses from all types of...
In Abrupt Turnaround, Olympus Admits It Hid Losses for Decades
Nov 8 2011 // Japan’s Olympus admitted on Tuesday it had hidden losses on securities investments dating back to the 1980s, succumbing to weeks of pressure to explain a series of baffling transactions that have put the future of...
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurance companies and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a...
Berkshire Hathaway Q3 Profit Falls on Derivatives
Nov 7 2011 // Warren Buffett’s conglomerate Berkshire Hathaway Inc. reported a smaller third-quarter profit Friday after losing more than $2 billion on derivatives related to stock market performance. That was nearly three times...
Third Quarter Earnings Report: Maiden Holdings
Nov 7 2011 // Q3 2011 Q3 2010 Gross premiums written $451.13 mn $289.82 mn 9 months – 2011 2010 $1.3843 bn $951.98 mn Net premiums earned —- $420.277 mn $309.593 mn 9 months – 2011 2010 $1.1346 bn $857.30 mn Net income...
Best Affirms Hannover Re and Subs ‘A’ Ratings; Outlook Positive
Nov 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Hannover Rueckversicherung AG (Hannover...
Independent Agencies Showing Signs of Recovery, Better Profitability, Study Reveals
Nov 7 2011 // Things are looking better for the nation’s property/casualty independent insurance agencies. Organic growth for these agencies improved somewhat last year and their profitability held constant across most of the six...
Fourmile Fire Insurance Losses Exceed $200 Million
Nov 7 2011 // A preliminary report on the 2010 Fourmile Canyon wildfire in Boulder County shows insured losses exceeded $200 million, and the fire spread fast and burned intensely due to the area it was in and the large amount of...
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurers and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a loss. But...
Top 10 Risky Industries to Avoid
Nov 7 2011 // Future Looks Brighter for Overall Economy But These Top Industries Will Be Left Behind, Says IBISWorld As the United States inches toward recovery, there are several industries that aren’t expected to improve along...
Liberty Mutual Posts $111M Q3 Loss, Hurt By CAT Loss, Asbestos Charge
Nov 6 2011 // Liberty Mutual Group reported a net loss of $111 million for its third quarter. In contrast, the third-largest property/casualty insurer in the U.S. had posted net profit of $567 million during the same quarter last...
Benmosche Says AIG Is Still in ‘Good Shape’ Despite Huge Losses
Nov 4 2011 // AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said Friday, the day after the company posted a net loss of more than $4 billion. On a...
Third Quarter Earnings Reports: Argo Group
Nov 4 2011 // Q3 2011 Q3 2010 Gross premiums written $448.5 mn $398.3 mn 9 months — 2011 2010 $1.203 bn $1.238 bn Net premiums earned ——- $268.2 mn $288.9 mn 9 months – 2011 2010 $800.9 mn $936.9 mn Net income (loss)...
Aon Benfield Monthly Cat Report Says Thai Floods Insured Loss over $5 Billion
Nov 4 2011 // Aon Benfield’s latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during October, states that insurers are exposed to a minimum $5 billion loss as...
AIG Reports Q3 Net Loss of $4.1 Billion
Nov 3 2011 // American International Group reported on Thursday a net loss of $4.1 billion and an after-tax operating loss of $3.0 billion for the third quarter ended Sept. 30, 2011, compared with a net loss of $2.5 billion and an...
The Hanover Posts $9.7M Loss in Q3
Nov 3 2011 // The Hanover Insurance Group Inc. reported a net loss of $9.7 million for the third quarter of 2011, driven mostly by catastrophe losses of $64.7 million after tax. The Hanover’s net income for the same period in 2010...
Hartford Q3 Profit Falls on Natural Disasters
Nov 3 2011 // Property and life insurer Hartford Financial Services Group posted a small per-share net loss for the third quarter on Wednesday, as disaster losses rose in the wake of August’s Hurricane Irene. The Hartford, one of...
