Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Storms That Shatter Lives Hold Lessons for Insurers
May 16 2011 // It used to be the low-frequency, high-severity events that kept U.S. property insurance producers, carriers, and reinsurers up at night. These big Cats have become part of our collective history – Hurricanes Andrew,...
Business Losses Due to ‘Action’ by Civil Authorities: When Is There Coverage?
May 16 2011 // Virtually all insurance policies contain provisions and exclusions dealing with events that most insureds consider so remote and unlikely that they rarely give any thought to their possible occurrence, much less what...
Unico American Corp. Reports $1.1M in Q1 Net Revenue
May 13 2011 // Woodland Hills, Calif.-based Unico American Corp. announced its revenue for the three months ended March 31, 2011, was $8.6 million and net income was $1.1 million, compared with revenue of $9.9 million and net income of...
EQECAT Estimates Spain Quake Insured Losses at Maximum $100 Million
May 13 2011 // Catastrophe modeling firm EQECAT has released a “CatWatch update” on the market loss estimate for the May 11 earthquake near Lorca, Spain, which indicates that, based on the latest information available,...
Drought Expands Dramatically in Texas, Losses Mount
May 13 2011 // Another dry week in the southern United States has driven the spread of a devastating drought further across Texas and neighboring states, promising to add to economic losses that could top $3 billion. Texas, suffering its...
Lloyd’s Estimates Losses from Q1 Disasters at $3.8 Billion
May 13 2011 // After careful calculation Lloyd’s has announced its estimated net claims before tax from the earthquakes this year in Japan and New Zealand and the January 2011 floods in Australia. The current net estimates were...
Business Losses Due to Civil Authority Action: When Is There Coverage?
May 12 2011 // Virtually all insurance policies contain provisions and exclusions dealing with events that most insureds consider so remote and unlikely that they rarely give any thought to their possible occurrence, much less what...
Allstate Reports $1.4 Billion in April Storm Losses
May 12 2011 // The Allstate Corp. today announced $1.4 billion in estimated catastrophe losses for the month of April. The estimated April catastrophe losses total about $1.37 billion for the Allstate brand and about $30 million for...
EQECAT Raises Japan Quake/Tsunami Loss Estimates to $22-$39 Billion
May 10 2011 // Catastrophe modeling firm EQECAT has updated its market loss estimate of $12-$25 billion, issued on March 16, for the March 11 M9 Tohoku Earthquake. EQECAT said that, based on the latest information available, it is...
AIR Estimates Recent Severe Storm Losses at $5.5B
May 9 2011 // Insured loss estimates from the storms that hit the Southern and Southeastern United States in late April total between $3.7 billion and $5.5 billion, says catastrophe modeling firm AIR Worldwide. Insured losses account...
E&O Insights: Are Customers Properly Protected for Business Interruption
May 9 2011 // While you may answer the question posed in the headline by saying that most of your commercial customers have business interruption coverage, the issue here is not whether they have the coverage, but whether they are...
Aon Benfield: Cat Losses, Solvency II Demand Better Model Evaluation
May 9 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., notes that it will be “highlighting how recent natural hazards – coupled with Solvency II – have fuelled demand for more...
Liberty Mutual Posts 14.9% Increase in Net Income in Q1
May 6 2011 // Liberty Mutual Group reported net income of $362 million for the first quarter 2011, an increase of $47 million, or 14.9 percent, over the same period in 2010. Revenues for the three months ended March 31, 2011 were $8.381...
Bonus Scheme Leads to License Loss for North Dakota Insurance Agent
May 6 2011 // A Bismarck, N.D., insurance agent accused of falsifying insurance applications to qualify for weekly bonuses has lost his agent license. North Dakota Insurance Commissioner Adam Hamm revoked the license of Michael Krebs....
AIG Reports $1.5B Net Income Loss in Q1
May 6 2011 // American International Group posted a loss from continuing operations in the first quarter as it recorded a charge of more than $3 billion related to its recapitalization and termination of its credit facility from the...
Report: Workers’ Comp Line Deteriorates Further in 2010
May 5 2011 // Workers’ compensation continued to worsen in 2010 as the combined ratio jumped five points to 115 in 2010 from 2009. In its State of the Line workers compensation market analysis, NCCI Holdings Inc. described the...
First Quarter Earnings Reports: SCOR, Alterra Capital
May 5 2011 //
First Quarter Earnings Report: Swiss Re, Zurich Financial Services
May 5 2011 // Swiss Re has estimated that its first quarter P&C pre-tax catastrophe losses exceed $2.3 billion, resulting in the $1.233 billion operating loss in this sector given above. Swiss Re’s earnings bulletin pointed...
