Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Bermuda’s Catalina Holdings to Acquire Residential Loss Control Holdings
Aug 26 2011 // Catalina Holdings (Bermuda) Ltd. has announced that its wholly owned subsidiary, Catalina Echo Limited, signed a definitive merger agreement on August 22, 2011 to acquire Residential Loss Control Holdings, LLC...
Profits Soar at Australia’s IAG, but Outlook Hits Shares
Aug 25 2011 // Insurance Australia Group, Australia’s top home and car insurer, reported a more than two-fold jump in annual net profit on Thursday but its outlook knocked the shares lower. IAG forecast profit margins of 10-12...
North, South Carolina Coastal Insurance Plans Ready for Hurricane Irene
Aug 24 2011 // Caught square in the path of Irene, the first major hurricane of the season, the coastal insurance plans in North and South Carolina are prepared to absorb what may be their first major losses in years. Both plans appear...
Australia’s Suncorp Profit Falls 42%; Hints at Capital Return
Aug 24 2011 // Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But...
East Coast Earthquake Losses Less Than $100 Million: Eqecat
Aug 23 2011 // The earthquake that struck Virginia and rattled the Eastern United States Tuesday caused less than $100 million in insured losses, catastrophe modeling company Eqecat said. Eqecat said the relatively weak nature of the...
Chinese Insurer Ping An Posts 33% Rise in 1st Half Profits
Aug 19 2011 // Ping An Insurance Co. of China Ltd. said Thursday its fast-growing banking business helped to boost profit for the first half by nearly 33 percent. Profit for the six months ending June 30 was 12.8 billion yuan ($1.9...
QBE 1st Half Net Profits up 53% to US$673 Million
Aug 19 2011 // QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on...
As Disaster Losses Mount, U.S. Seeks to Make Country ‘Weather Ready’
Aug 17 2011 // Noting that the U.S. has experienced $35 billion in economic losses due to disasters already this year, the federal government is embarking upon a national plan it hopes will save lives and protect property from severe...
Madoff Trustee’s Loss Formula Upheld
Aug 17 2011 // A U.S. appeals court on Tuesday upheld a method developed by the trustee liquidating Bernard Madoff’s firm for determining how to calculate investor losses, handing a defeat to so-called “net...
Nationwide Mutual’s Profit Down on $1.5 Billion Disaster Losses
Aug 15 2011 // Insurance company Nationwide Mutual said profits in the first half of the year fell by more than half after paying claims, like the rest of the industry, for some of the worst tornadoes in U.S. history. Privately held...
Florida’s Citizens Has Sweet Plan to Cover Hurricane Losses
Aug 15 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
Government Reaps Benefit of P/C Insurers’ Excess Profits
Aug 15 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
Easy Ways to Increase Revenue and Profits with Little and Preferably No Effort
Aug 15 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
ABI Assures UK Business Owners of Insurance Coverage for Riot Losses
Aug 11 2011 // Along with its recap of the applicable provisions of UK law covering damages caused by riots, the Association of British Insurers also issued a special letter to business owners. The ABI expressed its sympathy for those...
Bank Insurance Brokerage Income Marks New Record; Up Amost 20%
Aug 8 2011 // Bank holding companies (BHC) set a new record, marking the highest quarterly results ever recorded for first-quarter insurance brokerage income. BHCs posted $3.98 billion in insurance brokerage income in the first quarter...
S&P Revises Outlook on Platinum to Negative; Affirms Ratings
Aug 8 2011 // In an announcement that received slightly less notice than the downgrading of the U.S.’ ratings from ‘AAA’ to ‘AA+’, Standard & Poor’s also announced that it has revised its outlook...
Hannover Re Posts $313 Million Net Income for 1st Half 2011
Aug 8 2011 // German reinsurer Hannover Re reported that its net income for the first six months of the year totaled €218.5 million [$313 million], despite the losses that occurred in the first quarter. The decrease was substantial,...
Berkshire Insurance Loss Offset By Rails, Manufacturing Gains
Aug 7 2011 // Warren Buffett’s conglomerate Berkshire Hathaway Inc. reported a larger second-quarter profit Friday, as favorable investment results and strength in the rail and manufacturing businesses offset another underwriting...
European Insurers’ Greek Hit Fuels Debt Concerns
Aug 5 2011 // Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns about the possible impact on insurers of a worsening sovereign debt...
Bank of America Says Legal Losses Could Hit $2.3 Billion
Aug 5 2011 // Bank of America Corp.’s legal losses could cost as much as $2.3 billion above money already set aside to cover litigation, the largest U.S. bank by assets said in a securities filing. BofA raised the possible legal...
