Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
How Can Insurance Agents Help Texas Fire Victims?
Oct 3 2011 // Many businesses and homeowners are struggling to determine the extent of their damages from what is shaping up to be the worst year in Texas history for fire losses. In handling the crisis, policyholders must quickly...
Surplus Lines Industry Losing Its Edge?
Oct 3 2011 // The surplus lines industry continues to outperform the overall property/casualty industry but its advantage is not what it used to be. According to the annual A.M. Best special report, the surplus lines industry generated...
The Financial Side of Acquisitions
Oct 3 2011 // The merger and acquisition trend of agencies continues, despite the turndown in the economy. One reason for this trend is that publicly traded firms and those run by investment companies need to show growth despite...
D.C. Metro Sues Insurer Lexington for $13M Over Lost Revenue
Sep 30 2011 // Washington Metropolitan Area Transit Authority has 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...
Agriculture Losses from Texas Wildfires Adding Up
Sep 30 2011 // In addition to the $5.2 billion in agricultural losses as a result of the drought in Texas this year, an additional $150 million in losses can be attributed to wildfires, according to state agriculture experts. Dr. Andy...
BP Pays Alabama City $1.2M for Revenues Lost Due to Oil Spill
Sep 30 2011 // The city of Orange Beach, Alabama has reached a settlement with BP PLC over lost revenues stemming from last year’s Gulf oil spill, with the oil giant agreeing to pay $1.27 million for lodging and retail revenues the...
Aon Benfield: Reinsurers Expected to Pay 2/3 of Australia, NZ Cat Losses
Sep 29 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has issued a bulletin indicating that Australian and New Zealand insurers, who were hit with “catastrophic events” in 2010 and...
Chubb Reports Q3 Disaster Losses Up to $475 Million
Sep 29 2011 // Property insurer Chubb Corp. Wednesday warned it would report up to $475 million in pretax catastrophe losses in the third quarter, most of it coming from late August’s Hurricane Irene. Chubb said $300 million to...
Insured Losses in Bastrop County Fire to Reach $250M
Sep 27 2011 // Insured damages from what has become the costliest wildfire in Texas history will climb to $250 million, an insurer trade group says. The Bastrop County Complex fire is now 98 percent contained, according to the Texas Fire...
AIR Estimates Typhoon Roke Insured Losses at $150 to $600 Million
Sep 23 2011 // Catastrophe modeling firm AIR Worldwide has given preliminary estimates of the insured losses from Typhoon Roke at between JPY 12 billion ($150 million) and JPY 46 billion ($600 million). As reported earlier, Typhoon Roke,...
UK’s Tawa Posts $11 Million 1st Half Profit
Sep 23 2011 // The UK-based Tawa plc, which specializes in insurance investments and services, posted a first half profit of $11 million, compared to $1.4 million in the same period of 2010. The Group’s earnings report also listed...
Marsh Advises Risk Managers As C-Suite Expectations Rise
Sep 22 2011 // Global insurance broker Marsh held a webcast on Sept. 21, where the firm’s analysts shared their views on the current business environment including the effects of Hurricane Irene and other catastrophes. The broker...
Lloyd’s CFO Stresses Overall Strength after Record Loss
Sep 22 2011 // Lloyd’s of London reported the largest first half loss in its 323 year history yesterday, Sept. 21 – £697 million, or over $1 billion. However, Lloyd’s Chief Financial Officer, Luke Savage, was...
Lloyd’s Reports Billion Dollar First Half Loss Due to Catastrophes
Sep 21 2011 // As had been more or less predicted, Lloyd’s posted a £697 million [$1.094 billion] pre-tax loss for the first six months of 2011, compared to an overall profit of £628 million [$985.6 million] as of June 30, 2010....
AIR Lowers Insured Loss Estimates for Hurricane Irene in the Bahamas
Sep 16 2011 // Catastrophe modeling firm AIR Worldwide has revised its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between $200 million and $400 million (previously $300 million to $700...
Allstate Reports $500M in Losses from Hurricane Irene
Sep 15 2011 // Allstate Corp. lost $500 million on Hurricane Irene, the largest publicly traded home and auto insurer in the United States said Thursday, much less than it lost from tornadoes earlier this year. In total, Allstate said...
Insured Losses from Texas Wildfires Could Reach $250 Million
Sep 14 2011 // An industry group says insured losses from a week of Texas wildfires could reach $250 million. The Insurance Council of Texas offered the estimate for the more than 180 wildfires reported statewide since Labor Day...
Willis’ Report Finds Airline Industry Losses Hit 5-Year Low
Sep 14 2011 // The airline industry had a “relatively turbulent free start to the third quarter, with losses hitting a five-year low of $794 million,” according to the latest report from the Aerospace division of Willis Group...
Higher Workers’ Comp Loss Costs in New York Start Oct. 1
Sep 14 2011 // An average 9.1 percent increase in New York State’s workers compensation loss costs is scheduled to go into effect Oct. 1. The planned change was previously approved by the New York State Insurance Department in...
How Can Insurance Agents Help the Texas Fire Victims?
Sep 13 2011 // As fires tear through Texas, businesses and homeowners struggle to determine their losses. According to the Insurance Council of Texas, this year’s fire losses are Texas’ worst on record. The Texas Forest...
