Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Texas PEO Law Standardizes Rules for Releasing Workers’ Comp Loss Information
Jul 18 2011 // A new Texas law backed by agents groups requires professional employer organizations (PEOs) and staff leasing firms to provide workers’ comp loss information to employer clients in a timely manner. The Independent...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 18 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
From Trash to Treasure: Salvor Can Help to Manage Losses
Jul 18 2011 // When crises occur, one person the claims adjuster, insurer and insured should consider calling is a salvor – he or she can be a valuable partner in helping to clean up the trash, and broker the sale of any...
AXIS Puts Q2 Cat Losses at $90-$105 Million; Updates Q1 Estimates
Jul 15 2011 // Bermuda-based AXIS Capital Holdings Limited has estimated that the total net financial impact of the June 2011 aftershock in New Zealand and the series of severe weather events that occurred in the U.S. in April and May...
Best Affirms Lloyd’s of London’s ‘A’ Ratings
Jul 14 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s...
Hartford Hit with Q2 Catastrophe, Asbestos Losses
Jul 14 2011 // Hartford Financial Services Group Wednesday warned it will badly miss second-quarter expectations after severe losses on natural disasters and a charge to increase its asbestos reserves. Hartford, one of three insurers to...
Calif. Workers’ Comp Loss and Expense Payments Increase Nearly 3%
Jul 13 2011 // California workers’ compensation insurer’s loss and expense payments totaled more than $11 billion in calendar year 2010, according to the California Workers’ Compensation Institute, which issued a report...
Allstate Q2 Catastrophe Losses Now at $2.3 Billion
Jul 13 2011 // The Allstate Corp. announced $0.3 billion, pre-tax, in estimated catastrophe losses for the month of June 2011. June catastrophe losses comprised 13 events. Allstate previously announced $2.0 billion in estimated pre-tax...
Q1 Losses, Solvency II Drive Research on “Non-modeled” Perils Says Aon Benfield
Jul 12 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has reported that “catastrophic losses in the first quarter and Solvency II are driving the need for insurers to boost their...
Mercury General to Report Q2 Results on August 1
Jul 12 2011 // Los Angeles-based Mercury General Corp. reported that on August 1, it will release results for its second quarter ended June 30, 2011. The company will host an investor conference call and webcast that same day at 10 a.m....
Amlin Updates Cat Loss Estimates; Reports Increase in Reinsurance Rates
Jul 8 2011 // UK and Lloyd’s insurer Amlin plc held a presentation for analysts today focused on updating its catastrophe estimates. Amlin estimated that net claims from the two major U.S. tornadoes during April and May 2011 were...
Allied World Estimates $65-$75 Million Q2 Cat Losses
Jul 8 2011 // Allied World Assurance Company Holdings, AG has announced that it expects to record approximately $65 million to $75 million in catastrophe related losses and loss expenses in the second quarter of 2011. The company said...
Liberty Mutual Sues Goldman Over Freddie Mac Investment Losses
Jul 8 2011 // Boston-based Liberty Mutual Insurance Co. and several of its subsidiaries have sued investment banker Goldman, Sachs & Co. for “making materially misleading statements and omissions” in a preferred stock...
Arkansas’ Revenues Rise Above Forecast; Insurance Dept. Funds Help
Jul 6 2011 // A state finance report shows that Arkansas brought in more money than expected during the 2011 fiscal year. The report, released by the Arkansas Department of Finance and Administration, show that the state’s net...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Why Agencies Should Use Management Systems to Drive Value, Increase Profits
Jul 4 2011 // More than 25 years ago, not long after I started out in my dad’s agency, I found my way to my first agency automation user group meeting. I went because, fresh out of college, my dad agreed that I probably knew more...
Aon: U.S. Insured Weather Losses Top $15.5 Billion This Year
Jul 4 2011 // Insured severe weather losses have already topped $15.5 billion in the United States this year, three times the full-year average of the past 20 years, insurance brokerage Aon Corp. said. Almost all of that comes from the...
Insurance Agents Cheer State Commissioners’ Vote on Medical Loss Ratio
Jul 1 2011 // In a move being applauded by insurance agents, a task force of state insurance regulators has recommended that states support legislation to protect agent and broker commissions from the expense cap imposed on health...
Totals: U.S. Spring Tornado Losses for P/C Carriers
Jul 1 2011 // Record-breaking tornadoes devastated parts of the United States in April and May, generating substantial losses for insurance companies. Following is a list of maximum losses reported by some insurers and reinsurers for...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 1 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
