Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Cunningham Lindsey Names 3 to Premier Loss Adjusting Division
Oct 20 2011 // Dallas-based Cunningham Lindsey has promoted Chuck Stoll, Joe Christie and Lynn Summers to its International & Executive Loss Adjusting division. This division offers premier loss adjusting expertise in every major...
Workers’ Comp Results Deteriorated for Northeastern States Last Year
Oct 20 2011 // Most states in the northeastern region reported deteriorating workers’ compensation underwriting results last year, according to latest data from A.M. Best. Pennsylvania, New Jersey, Delaware, Maine and Rhode Island...
Allstate’s Q3 Disaster Losses Top $1 Billion
Oct 20 2011 // Allstate Corp. suffered nearly $1.1 billion in catastrophe losses in the third quarter, the country’s largest publicly traded home and auto insurer said Thursday. That is half of what Allstate lost in the second...
Weather Losses Trim Q3 Profit for Travelers
Oct 19 2011 // Travelers Companies reported a $333 million net profit after taxes for the third quarter, down from $1.05 billion in the third quarter last year. Hurricane Irene and weaker investment returns hurt results. Its pre-tax...
State Auto Financial Estimates Around $60M in Cat Losses in Q3
Oct 18 2011 // State Auto Financial Corp. estimates its third quarter 2011 results will include between $60 million and $63 million in pre-tax catastrophe losses, which includes approximately $25 million of prior period development from...
New York’s Suffolk County Had Biggest Insured Property Loss From Irene
Oct 17 2011 // New York State’s Suffolk County suffered the highest insured property loss among the 191 counties affected by Hurricane Irene, according to the latest estimate. New Jersey, New York and North Carolina were the top...
Bermuda Re/Insurers Announce Q3 Cat Loss Estimates
Oct 17 2011 // A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries,...
D.C. Metro Sues Insurer Lexington Over Lost Revenue
Oct 17 2011 // Washington Metropolitan Area Transit Authority recently filed a lawsuit against its insurer Lexington Insurance Co. of Boston charging that that the insurer failed to indemnify for the revenue losses in the train...
Auto Insurers’ Loss Ratios Rise in Q2 2011
Oct 17 2011 // Tornadoes and thunderstorms in the South and Midwest made the 2011 second quarter tumultuous for U.S. property writers. The industry loss ratio, before consideration of reinsurance, climbed to 70.6 percent, marking the...
Cheaper Isn’t Better in Property Loss Cost Containment
Oct 17 2011 // How carriers and adjusters respond to property losses can reduce the impact of the claims as well as the costs, according to Lynne Jurek Shannon and Doris T. Bobadilla, defense attorneys with the Galloway, Johnson,...
How Agency Technology Drives Profitable Growth
Oct 17 2011 // Profitability and growth continue to be the drivers of independent insurance agency valuations, and leading agencies around the country are using new ways to produce profitable growth. “You cannot have strong...
Report on Colorado’s Fourmile Fire: Insurance Losses Exceed $200 Million
Oct 14 2011 // A preliminary report on the 2010 Fourmile Canyon wildfire in Boulder County shows insured losses exceeded $200 million, fire management costs will have exceeded $14 million following rehabilitation efforts, and that while...
AIR Estimates Insured Losses from Hurricane Jova at Less than $52 Million
Oct 14 2011 // Catastrophe modeling firm AIR Worldwide, estimates that insured losses caused by Hurricane Jova from flood-induced damage, as well as from some isolated wind damage along Mexico’s southern coastal areas, will be...
Independent Agencies Showing Signs of Recovery, Says Big ‘I’ Study
Oct 13 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...
Catalina Holdings (Bermuda) Completes Residential Loss Control Acquisition
Oct 13 2011 // Catalina Holdings (Bermuda) Ltd announced that following regulatory approval from the Colorado and Hawaii Departments of Insurance, it has completed the acquisition of Residential Loss Control Holdings, LLC (RLCH), which...
W. R. Berkley Sees $50M-$60M Cat Losses for Q3
Oct 12 2011 // Greenwich, Conn.-based insurer W. R. Berkley Corp. is estimating Q3 catastrophe losses in the range of $50 million to $60 million, before tax. The loss estimate is net of reinsurance recoveries and is inclusive of...
N.J.-based Selective Insurance Reports $70M in Q3 Cat Losses
Oct 11 2011 // Branchville, N.J.-based Selective Insurance Group reported on Tuesday, Oct. 11, pre-tax catastrophe losses for the third quarter of around $70 million, or 20 points on the combined ratio. The loss estimate is net of...
Aon Benfield Reports Asia Monsoon Economic Losses near $7 Billion
Oct 7 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during...
Auto Insurers’ Loss Ratios Rise in Q2: SNL Insurance
Oct 6 2011 // Tornadoes and thunderstorms in the South and Midwest made the 2011 second quarter tumultuous for U.S. property writers. The industry loss ratio, before consideration of reinsurance, climbed to 70.6 percent, marking the...
JPMorgan, BofA Sued Over Mortgage Debt Losses
Oct 3 2011 // JPMorgan Chase & Co. and Bank of America Corp. were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks. The plaintiff...
