Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares
Mar 15 2011 // Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts...
Arch Estimates NZ Quake Loss at $35-$70 Million; Assessing Japan
Mar 15 2011 // The Bermuda-based Arch Capital Group announced that the Company’s 2011 first quarter results will be negatively impacted by the New Zealand earthquake, which occurred in February 2011, in the range of $35 million to...
EQECAT Analyzes Specific Exposures from Japan Quake/Tsunami
Mar 15 2011 // Catastrophe modeling firm EQECAT has issued a bulletin describing the potential insured market losses and summarizing the various impacts of Japan’s insurance market with its specific inclusions and...
Business Groups Back Expanding Federal Flood Insurance Options
Mar 14 2011 // Expanding a federal program that is already $17 billion in debt might seem like a non-starter of an idea on budget-sensitive Capitol Hill these days. However the idea is included in a Republican-drafted reform of the...
Credit Suisse Estimates Japan Economic Losses at $171 to $183 Billion
Mar 14 2011 // Economic losses in the regions of Japan that were hit by a massive earthquake will reach around 14 trillion yen to 15 trillion yen ($171-$183 billion) based on information available on Monday, Credit Suisse said in a...
“Unexpected Nature” of Japan Quake Complicates Insured Loss Estimates
Mar 14 2011 // The unexpected nature of this week’s earthquake in Japan, plus the damage from the subsequent tsunami and fires, makes estimating insured losses from the disaster especially difficult, senior executives at two top...
AIR’s Japan Quake/Tsunami Insured Loss Estimates: $15 Billion to $35 Billion
Mar 14 2011 // Boston-based catastrophe modeling firm AIR Worldwide’s most recent statement, based on “currently available information, estimates that insured property losses from the Mw9.1 earthquake that struck Japan on...
Cavignac & Associates Names Fernandez Director of Loss Control
Mar 11 2011 // Rafael Fernandez has been named director of loss control and claims for Cavignac & Associates, a San Diego-based risk management and insurance brokerage firm. In his new post, Fernandez is responsible for evaluating...
Damage Claims Threaten Munich Re’s 2011 Profit Goal
Mar 10 2011 // Heavy damage claims from an earthquake, floods and a storm this year will put Munich Re’s full-year profit goal at risk if claims do not subside in the coming quarters. The world’s biggest reinsurer said it...
Catlin’s preliminary NZ Quake Loss Estimates app. $125 million
Mar 10 2011 // The Bermuda-based Catlin Group Limited announced a preliminary estimate of the financial impact of the February 22nd earthquake, which occurred near Christchurch, New Zealand, of approximately US$125 million, net of...
XL Estimates NZ Quake Losses at $70 to $85 Million
Mar 10 2011 // XL Group plc has announced preliminary net loss estimates for the earthquake that struck Christchurch, New Zealand on February 22, 2011, pretax and net of reinsurance and reinstatement premium, of approximately $70 million...
Hannover Re Posts 2010 Growth as Net Income Tops $1 Billion
Mar 9 2011 // Germany’s Hannover Re reported a “very pleasing year,” as after tax group net income rose to €748.9 million [$1.043 billion], from €733.7 million [$1.021 billion], despite the operational business...
SCOR Reports 13% 2010 Net Income Gain to $582 Million
Mar 8 2011 // French reinsurer SCOR Group continued to strengthen its financial position in 2010, posting net income of €418 million [$582.5 million] up 13 percent from 2009, and premium income of €6.7 billion [$9.34 billion], up 5...
Report Highlights 50% Jump in Asbestos, Environmental Losses
Mar 7 2011 // A soon to be issued report from A.M. Best details an increase in U.S. property/casualty insurers’ asbestos and environmental (A&E) incurred losses. The industry faced a 50 percent rise in 2009, after a 47...
Best Affirms CNA and Subs Ratings
Mar 3 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of CNA Insurance Companies and its P/C members, as well as the ICR of...
State Farm Posts $1.8 Billion Net Income for 2010 Despite Underwriting Losses
Mar 3 2011 // State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also...
York Specialized Loss Adjusting Acquires Texas-based BC Johnson Assoc.
Mar 1 2011 // York Specialized Loss Adjusting (York SLA), a division of New Jersey-based York Risk Services Group Inc., announced it has acquired BC Johnson Associates, a provider of specialized loss adjusting and risk assessment...
QBE Group Posts $1.278 Billion 2010 Net Profit; $1.168 Billion Underwriting
Mar 1 2011 // The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in...
Validus Comments on NZ Quake Loss Estimates; Q1 Loss Activity
Mar 1 2011 // Bermuda-based Validus Holdings, Ltd. Has issued a comment on worldwide loss activity occurring in the first quarter of 2011, including the February 22 New Zealand earthquake. The 6.3 magnitude earthquake which struck the...
