Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Chubb Reports Q4, 2010 Results; Expects Australia Flood Losses
Jan 28 2011 // The Chubb Corp. reported that net income in the fourth quarter of 2010 was $620 million, compared to $695 million in the fourth quarter of 2009. For the year ended Dec. 31, 2010, net income was $2.2 billion, the same as in...
National Underwriter, Summit Media File for Bankruptcy
Jan 26 2011 // Summit Business Media and its affiliates including The National Underwriter insurance publisher have filed for Chapter 11 bankruptcy to address more than $250 million in debt and unsecured claims. The company said that it...
Travelers Sees Insurance Business Improving
Jan 25 2011 // Travelers Companies Inc. posted a higher-than-expected quarterly profit and the largest publicly traded U.S. property insurer said there were early signs businesses were finally willing to spend more on insurance. Despite...
Calif. Workers’ Comp System Inadequate in Replacing Lost Earnings
Jan 24 2011 // Permanently disabled workers in California’s workers’ compensation system have historically faced poor return-to-work rates and high levels of lost earnings after a disabling injury, a new study has found. In...
Calif. Commissioner Jones to Enforce Medical Loss Ratio Rule
Jan 24 2011 // California Insurance Commissioner Dave Jones has signed an emergency order to enforce the medical loss ratio. The MLR rules require insurers to annually disclose the percentage of premium revenue spent on reimbursement for...
Florida Looking for Ways to Curb Sinkhole Losses
Jan 24 2011 // Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought...
Insurance Industry Worries about Growing Risks from Climate Change
Jan 19 2011 // Insurers are struggling to assess the risks from climate change, industry officials say, with the floods in Australia and Brazil highlighting the potential losses from greater extremes of weather. Scientists say a warmer...
Barclays Warns Reinsurers at Risk from $6 Billion Australia Flood Insured Losses
Jan 19 2011 // Insured losses from the recent flooding in Australia could top $6 billion, and earnings estimates for Bermudan reinsurers are at risk as a result, Barclays Capital said Tuesday. Barclays analyst Jay Gelb cited early...
Florida Lawmakers Seek Ways to Curb Sinkhole Losses
Jan 14 2011 // Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought...
Mercury General to Report Results on February 7
Jan 13 2011 // Los Angeles-based Mercury General Corp. reported that on Monday, Feb. 7, 2011, the company will release results for its fourth quarter and 12-month period ended Dec. 31, 2010. The company will host an investor conference...
Study Says Climate Change Link in Hurricane Losses Decades Away
Jan 13 2011 // Tropical cyclones are expected to cause more damage in the United States and Asia but it could be more than a century before insurers can point to climate change as a factor in losses from storms, scientists say. In a...
Argo Group Updates NZ Quake Loss Estimate to $12 Million
Jan 13 2011 // The Bermuda-based Argo Group International Holdings announced that it “expects to report in its 2010 fourth quarter financial results approximately $12 million of additional estimated pre-tax loss provisions, net of...
Oklahoma Revenue Exceeds Prior Year, New Treasurer Says
Jan 12 2011 // State officials say the money coming into state coffers last month exceeded both prior year collections and the official estimate. New State Treasurer Ken Miller says the December revenue report shows the economy is...
Calif. Workers’ Comp System Inadequate in Replacing Lost Earnings
Jan 11 2011 // Permanently disabled workers in California’s workers’ compensation system have historically faced poor return-to-work rates and high levels of lost earnings after a disabling injury, a new study has found. In...
Multi-State Surplus Lines Tax State Inaction Risks Loss of Premium Tax Revenue
Jan 10 2011 // State Inaction Risks Loss of Premium Tax Revenue The States appear poised, through inaction, to leave untold millions of dollars in premium tax revenue “on the table” when the Nonadmitted Insurance and...
Consensus: Consumer Education Needed to Reduce Disaster Losses
Jan 6 2011 // With more than 50 percent of the country’s population living in coastal counties, there is an urgent and extensive need to convince consumers to adopt a long-term view of catastrophic risk. That is the conclusion of...
Cunningham Lindsey Acquires Loss Adjusting Unit of GAB Robins NA
Jan 5 2011 // Cunningham Lindsey has acquired the U.S. loss adjusting business of GAB Robins North America Inc. The global loss adjusting and claims management services company said the addition of the GAB Robins loss adjusting business...
Calif. Commissioner Jones to Enforce Medical Loss Ratio Rule
Jan 5 2011 // Almost immediately after being sworn into office on Tuesday, California Insurance Commissioner Dave Jones signed an emergency order to enforce the medical loss ratio. the MLR rules require insurers to annually disclose the...
Year-End Storms Cloud P/C Insurers’ Profit Picture
Jan 5 2011 // U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away...
P/C Insurers Improve Personal Lines, Investment Results in Q3
Jan 4 2011 // The U.S. property/casualty industry generated improved operating results in the third quarter despite competitive market conditions, elevated catastrophe losses, the economic downturn and historically low investment...
