Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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,...
Willis Re Sees Reinsurers Reacting as $48 Billion Losses Take Their Toll
Jun 30 2011 // The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in...
Mid-Size Firms Expect Higher Profits, More Borrowing: Poll
Jun 29 2011 // Nearly two-thirds of mid-size U.S. companies expect higher profits in the next 12 months, and many plan to borrow more and increase hiring and investment, according to a survey by JPMorgan Chase & Co. The survey...
S&P Downgrades Mariah Re’s Notes to ‘CCC+(sf)’; CreditWatch Developing
Jun 28 2011 // Standard & Poor’s Ratings Services has lowered its rating on Mariah Re Ltd.’s Series 2010-1 notes to ‘CCC+(sf)’ from ‘B(sf)’. S&P has also revised the CreditWatch status of the...
Insurers’ Ratings Won’t Be Penalized for Catastrophe Losses: Demotech
Jun 28 2011 // The fact that U.S. property/casualty insurers’ earnings have taken a hit due to recent catastrophe losses should not by itself mean insurer ratings will change, according to one rating firm. As long as the insurers...
Aon: U.S. Insured Weather Losses Top $15.5 Billion This Year
Jun 22 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 last 20 years, insurance brokerage Aon Corp. said Wednesday. Almost all of that comes...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 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...
Fargo Storm Could Top $5.8 Million in Losses
Jun 21 2011 // North Dakota Insurance Commissioner Adam Hamm reported that the Memorial Day wind storm in the Fargo area so far has caused more than $4.2 million in damage. Reports to Hamm from several insurance carriers who write...
Zurich Issues Loss Estimate for Spring Storms in U.S.
Jun 20 2011 // Zurich Financial Services Group said it currently estimates aggregate claims of approximately $295 million for both Zurich North America and Farmers Re relating to the series of severe weather-related events that hit the...
Florida Reinsurance Renewals Reflect Unsettled Market
Jun 20 2011 // The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile renewal...
Average Long Term Care Liability Claim Rising: Aon Study
Jun 17 2011 // Long term care liability costs are rising because the average claim size is increasing even as claim frequency declines. There has been a four percent increase in the average claim size, according to research by Aon Risk...
Eqecat Defends Latest New Zealand Quake Loss Estimate
Jun 17 2011 // Catastrophe modeler Eqecat released a defense of its loss estimate of $3 billion to $5 billion for Monday’s Christchurch earthquake, saying its models suggested that would be the incremental damage to the city over...
