Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Chubb Profits Rise 36 Percent in First Quarter
Apr 23 2010 // Despite a sizable increase in catastrophe claims, New Jersey-based insurer Chubb saw first quarter profits climb 36 percent to $463 million, up from $341 million in the year-ago quarter. The impact of catastrophe claims...
Travelers Reports Catastrophe Losses Hurt Profits in Q1
Apr 23 2010 // The Travelers Cos. Inc. reported net income for the first quarter 2010 dropped just $15 million, to $647 million in Q1 2010, compared to $662 million in Q1 2009. Operating income in the current quarter declined as well to...
Why Captive Solutions Might Grow Your Hospitality Book, and Revenue Too
Apr 23 2010 // Compare the estimated $30 billion in after tax profits that the U.S. property and casualty marketplace will likely book for 2009 to the year end results of the hospitality industry, whose lodging (occupancy near 56...
Zenith Affected by Declining Premium, Lower Investment Income
Apr 22 2010 // Zenith National Insurance Corp. based in Woodland Hils, Calif., has reported a net loss for the first quarter 2010 of $0.8 million, or $0.02 per share, compared to net income for the first quarter 2009 of $2.6 million, or...
Auto Insurers Begin Process of Recouping Losses from Toyota
Apr 20 2010 // Insurance companies are gearing up to recoup from Toyota money they paid for claims in crashes involving sudden acceleration, the subject of major safety recalls by the Japanese automaker. It could also mean money back for...
Q1 Operating Earnings for RLI Dip Slightly From Previous Year
Apr 20 2010 // Peoria, Ill.-based property and casualty insurance company, RLI Corp., reported first quarter 2010 operating earnings of $20 million compared to $22.5 million for the first quarter of 2009. The company had an underwriting...
The Rollercoaster of M&A
Apr 19 2010 // Continued Soft Market, Taxes and Health Care Reform to Boost Activity in Second Half of 2010 January deal activity started out strong but continued to decline in February and further in March. Nonetheless, first quarter...
Some Red Flags in Residential Arsons Fly Before the Fire
Apr 19 2010 // Financial stress is the No. 1 reason residential dwellings are intentionally torched, but proving the act of arson is not that easy. In fact, Federal Bureau of Investigation statistics for 2007 show only around 6 percent...
E&O Insights: Dangers of Renewing Business Interruption Coverage ‘As Is’
Apr 19 2010 // Understand Where Property Coverage Ends and BI Coverage Begins It would probably be rather difficult to find many agents unaware of business interruption coverage. Most recognize that for their business customers, business...
The Other Time Element Coverages
Apr 19 2010 // Off-Premises, Contingent Business Income and Other Time Element Options for Clients The impact of recent high-profile natural catastrophes has brought to the forefront the need for businesses to have appropriate time...
Some Health Insurers Shifting Costs Ahead of New Loss Ratio Mandate
Apr 19 2010 // Some of the largest U.S. health insurers are changing their accounting practices to book administration costs as medical costs in an attempt to circumvent new industry reforms, according to a recent U.S. Senate...
Zenith To Announce Q1 Results on April 21
Apr 16 2010 // Woodland Hills, Calif.-based Zenith National Insurance Corp. announced that it plans to release first quarter 2010 financial results on April 21, 2010, during market hours. For more information, visit www.thezenith.com
P/C Industry’s Net Income Up $25B in 2009; Combined Ratio Improves
Apr 15 2010 // The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C...
Mercury General to Report Q1 Results on May 3
Apr 14 2010 // Los Angeles-based Mercury General Corp. will release the results for its first quarter ended March 31, 2010 on May 3. The company will host an investor conference call and Web cast that same day at 10 a.m. PST to review...
Report: February Storms in Ohio Caused More than $28M in Losses
Apr 14 2010 // The Ohio Insurance Institute (OII) has reported that amount of insured losses from the series of February winter storms will be at least $28.2 million, with 12,173 claims filed to-date across the state. Because some...
Crop Reinsurers’ Profit Could Fall 30% Under USDA Changes, Says Aon
Apr 12 2010 // Proposed cuts in the agreement crop insurers have with the federal government would likely reduce reinsurers’ expected profit by 20 to 30 percent, which could lead to some companies withdrawing from the program or...
Earnings Pressure Encouraging Corporate Fraud in India: Survey
Apr 6 2010 // The incidence of corporate fraud, particularly financial statement fraud, is rising in India, largely due to pressure to meet earnings targets and weak internal control systems, a survey by consultancy KPMG showed. More...
Experts Estimate $300 Million in Losses from Mexico Earthquake
Apr 6 2010 // Damage estimates from Sunday’s 7.2 magnitude earthquake in Mexico, just south of California, are not expected to exceed $1 billion, and insured losses should not exceed $300 million, according to risk modeling firm...
Top 10 Internet Frauds
Apr 5 2010 // Online crime complaints increased substantially last year, with the number of fraud complaints jumping 22.3 percent and total losses linked to online fraud reaching almost $560 million. That’s according to the...
Hospitality Risks: A Game for Captives
Apr 5 2010 // Why a Captive Solution Might Grow Your Hospitality Book, and Revenue Too Hospitality owners have concerns with retaining risk that they cannot transfer to the insurance market and owners are looking for legitimate ways to...
