Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lloyd’s Posts 2009 Profits of $5.8 Billion
Mar 24 2010 // Lloyd’s announced overall pretax profits of £3.868 billion [$5.796 billion] for 2009, doubling the £1.899 billion [$2.84 billion] it reported for 2008. The record results were achieved despite ongoing...
Argo Group Estimates Q1 2010 Cat Losses at $25 to $35 Million
Mar 23 2010 // The Bermuda-based Argo Group International Holdings announced that it expects its initial loss estimate from first quarter 2010 catastrophe events that have occurred to date will be $25 to $35 million, net of reinstatement...
Terrorism Coverage in the Everyday World
Mar 22 2010 // Because of the threshold amount, many acts of domestic terrorism may not be certified. Even under the TRIA, insurers may exclude coverage for loss resulting from ‘non-certified’ acts of terrorism. After the...
Some Red Flags in Residential Arsons Fly Before the Fire
Mar 22 2010 // Financial stress is the No. 1 reason residential dwellings are intentionally torched, but proving arson is not that easy. Only around 6 percent of arson offenses in 2007 resulted in convictions, according to the Federal...
Key Features of Healthcare Reform Passed By House
Mar 22 2010 // The U.S. House of Representatives approved a sweeping $940 billion healthcare overhaul Sunday in a two-step process that sends a Senate version of the bill to President Barack Obama for his signature and a package of...
XL Estimates Chile Quake, Xynthia Losses at $160 to $230 Million
Mar 18 2010 // XL Capital Ltd’s preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia indicated they will total between $160 and $230 million. Preliminary loss estimates related to the Chilean...
SCOR’s Preliminary Quake, Storm Loss Estimates Around $130 Million
Mar 18 2010 // French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax,...
P/C Industry Operating Profits Up Markedly in 2009: Fitch
Mar 18 2010 // Operating profits improved substantially during 2009 across the U.S. property/ casualty insurance industry, with most market participants reporting double-digit operating returns on capital, according to Fitch Ratings in a...
S&P Revises Hartford’s Outlook to Negative; Debt/Hybrids Assigned Ratings
Mar 17 2010 // Standard & Poor’s Ratings Services has assigned its ‘BBB’ issue rating to Hartford Financial Services Group Inc.’s (HIG) proposed $1.1 billion senior debt offering. S&P assigned a...
Swiss Re ‘sigma’ Study: Insured 2009 Disaster Losses Cost $26 Billion
Mar 16 2010 // Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America,...
Hiscox Estimates, Chile Quake, Xynthia Losses at $151 Million
Mar 16 2010 // Hiscox Ltd. announced from its Bermuda headquarters that, from initial estimates, based on an insured market loss of US$8 billion for the Chilean earthquake, and US$3 billion for windstorm Xynthia, it estimates a combined...
Windstorm Xynthia Losses Near $2 Billion: EQECAT Update
Mar 15 2010 //
Top 10 Internet Frauds and Top 10 States for Fraud Complaints
Mar 15 2010 // Online crime complaints increased substantially once again 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...
Calif. Workers’ Comp Insurer Records $143 Million Net Income for 2009
Mar 12 2010 // The California State Compensation Insurance Fund, reported it ended 2009 with $1.25 billion in net premium earned, and $143 million in net income, compared with $75 million in net income earned in 2008, Doug Stewart,...
RenRe Gives no Quake, Storm Loss Figures, But They May be ‘Significant’
Mar 12 2010 // Bermuda-based RenaissanceRe Holdings announced that based on its initial assessment, the “impact of the Chilean earthquake and windstorm Xynthia on its financial results (net of reinstatement premiums, retrocessional...
Profit Plunges at West Virginia’s Brickstreet Mutual
Mar 11 2010 // Competition and the expiration of federal tax exemption cut BrickStreet Mutual Insurance Co.’s profit by 66 percent in 2009. The workers’ compensation insurer says it earned $38.9 million last year, compared to...
Swiss Re Estimates Chile Quake Loss at $500 Million; Xynthia $100 Million
Mar 10 2010 // Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates...
Reinsurers Say $4 to $7 Billion Chile Quake Loss ‘Unlikely’ to Raise Rates
Mar 10 2010 // Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader...
Florida’s Homeowners Choice Reports Profitable Q4, Year 2009
Mar 10 2010 // Homeowners Choice Inc., a Florida-based homeowners’ insurer, reported a profitable fourth quarter and year 2009. Net income for the fourth quarter of 2009 was $807,000, compared to net income of $5.1 million for the...
PartnerRe Gives Loss Estimates for Chile Quake, Windstorm Xynthia
Mar 9 2010 // Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on...
