Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Guy Carpenter Analyzes 2011 Catastrophes; $108 Billion in Losses
Dec 30 2011 // Reinsurance broker Guy Carpenter has examined the past year’s natural catastrophes, which it describes as “an unusually eventful year for the (re)insurance sector.” In addition to the ongoing financial...
Despite Losses, Insurers Not Hiking Prices Broadly
Dec 29 2011 // Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those...
Insurance Adjusters Brace for Cold Weather Claims
Dec 29 2011 // Though summer weather is associated with devastating catastrophe losses, the winter holiday season can be equally busy for insurance adjusters. The third-largest cause of catastrophic losses behind hurricanes and...
November Storms in Southern Alberta Caused $195 Million Insured Loss
Dec 29 2011 // Windstorms that hit southern Alberta in November have caused at least C$200 million [US$195] in insured damage, according to the Insurance Bureau of Canada. However, the estimate is preliminary, based on data from Property...
Melbourne Storms Declared ‘Catastrophe;’ Full Year Insured Losses = $4.5 Billion
Dec 29 2011 // A series of violent storms struck Australia’s second largest city, Melbourne on Christmas Day, causing wide spread damage to buildings and infrastructure. Insurer QBE said the country’s insurers have already...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
Everest Re Estimates Thai Flood Losses at $100 to $125 Million
Dec 27 2011 // The Bermuda-based Everest Re Group announced that it expects to incur net losses of between $100 million and $125 million, after reinstatement premiums and taxes, for claims arising from floods in Thailand. The bulletin...
Texas House Members Object to Medical Loss Ratio Waiver Request
Dec 22 2011 // A group of lawmakers in Texas are urging the state’s insurance commissioner to withdraw a request for a waiver to the medical loss ratio (MLR) provision in the federal health insurance reform law. They say the...
Florida Commercial Health Plan Enrollment Continues Overall Slide
Dec 22 2011 // Enrollment in commercial health insurance in Florida was down 4.3 percent in 2010, the fifth straight year it has dropped. The annual report of the Florida Health Care Insurance Advisory Board shows that total enrollment...
Willis Report Highlights P&I Market’s Record Financial Results in 2011
Dec 22 2011 // The Protection & Indemnity (P&I) market “delivered a blockbuster financial performance last year,” according to a report from Willis. However, the report also found that P&I Clubs are “faced...
Best Affirms Lloyd’s Syndicate 2001 Ratings; Amlin AG, Amlin plc; Outlook Stable
Dec 20 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Lloyd’s Syndicate 2001, which is...
Storm Joachim Hits Northern Europe; AIR Sees No ‘Significant’ Losses
Dec 20 2011 // Catastrophe modeling firm AIR Worldwide, has reported on winter storm Joachim, which developed over the Atlantic and became a severe extra-tropical cyclone over Western Europe late last week. Central pressure went as low...
Louisiana Asks for Reconsideration of Medical Loss Ratio Waiver Denial
Dec 16 2011 // Louisiana Insurance Commissioner Jim Donelon is requesting the U.S. Department of Health and Human Services (HHS) to reconsider its denial of the medical loss ratio (MLR) waiver that the state requested earlier this...
SCOR Estimates Thai Flood Losses at $185 Million
Dec 16 2011 // French reinsurer SCOR Group has estimated its losses from the floods in Thailand at €140 million [$185 million] net of retrocession and before tax. SCOR described the floods as a “major natural catastrophe, which...
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 16 2011 // Have you ever wondered how modern-day fire departments began? Or why agents buy E&O coverage? What about when the first business owners policy launched? These are just a few questions that Insurance Journal and Claims...
Swiss Re Estimates 2011 Economic Cat Loss at $350 Bn; Insured Loss $108 Bn
Dec 15 2011 // Swiss Re describes 2011 as the “year with the highest catastrophe-related economic losses in history, at $350 billion.” It could have been the most costly year ever for the insurance industry, if Japan had been...
Willis: Power Market Review – Still No Hard Market, Despite Losses
Dec 9 2011 // 2011 looks set to be one of the worst years on record for natural catastrophe events; continuing civil unrest roils the Middle East and Europe’s economic crisis shows no signs of abating. All of those conditions...
Insured Losses from Bastrop, Texas, Wildfire Rise to $325M
Dec 8 2011 // More than half of the homeowner insurance claims have been settled in the Bastrop (Texas) Complex Wildfire that occurred over the Labor Day weekend. The final tally for insured losses from the wildfire is projected to hit...
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...
