Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Texas Catastrophic Weather Losses Totaled $2.5B in 2009
Mar 7 2010 // Texas in 2009 experienced weather catastrophes that resulted in more insured losses than any other state. Texas experienced 10 weather catastrophes in 2009 that caused nearly $2.5 billion in losses. The next highest state...
Large Brokers Freed to Go After Contingent Commissions But Will They?
Mar 7 2010 // The nation’s largest insurance brokers have received the go-ahead to begin accepting contingent commissions again – but two of them say they won’t do it. Officials in New York, Illinois and Connecticut...
Fitch Sees Chile Quake Losses Unlikely to Impact P/C Insurance Ratings
Mar 5 2010 // Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on...
CRM Holdings Reports $19 Million Net Loss in Q4
Mar 5 2010 // CRM Holdings Ltd., a specialty provider of workers’ compensation insurance products, announced it had a net loss of $19 million in the fourth quarter of 2009. In the same period in 2008, the compnay had a net loss of...
AIR Estimates Windstorm Xynthia Insured Losses at $2 to $4.1 Billion
Mar 3 2010 // Catastrophe risk modeling firm AIR Worldwide has estimated that insured losses in France, Belgium, Germany, and Netherlands from winter storm Xynthia will be between €1.5 billion and €3 billion [$2 to $4.1...
Amerisafe Net Income Rises Despite Premium Decreases in Q4 2009
Mar 3 2010 // DeRidder, La.-based workers’ compensation insurer Amerisafe Inc. reported net income of $6.6 million in the fourth quarter of 2009, an increase of 15 percent over the $5.7 million recorded in the fourth quarter of...
Catastrophe Firms Analyze, Estimate Losses from Chilean Quake
Mar 2 2010 // Catastrophe modeling firms Air Worldwide, Risk Management Solutions and EQECAT have all released preliminary analysis and estimates of the economic and the insured losses from the devastating 8.8 magnitude earthquake that...
Social Service Organizations in Tough Economic Times
Mar 2 2010 // It’s no secret that nonprofits are feeling the effects of a battered economy. Donations are down. State and federal funding are also down. Insurance providers say they are keeping a close watch on changing exposures...
Kansas Storm Related Losses in 2009 Surpass Those of Previous Year
Mar 1 2010 // Insured losses in Kansas in 2009 that resulted from storms are higher than the record set during 2008, the Kansas Insurance Department reports. In 2009, storm-related losses based on some 137,000 insurance claims are...
AIG To Pay $8 Million to Settle Lawsuit Over Oregon Pension Fund Losses
Feb 26 2010 // The Oregon Public Employee Retirement Fund will recover losses that were attributable to a pattern of poor disclosure and bid-rigging by insurance giant American International Group Inc. (AIG), under a settlement announced...
Allianz 2009 Net Income up 13% at $6.4 Billion
Feb 26 2010 // Germany’s Allianz Group posted preliminary figures for 2009, indicating that its net income rose by 13.2 percent to €4.7 billion [$6.4 billion]. Revenues were up up 5.2 percent to €97.4 billion [$132.5...
AIG Reduces Q4 Loss; Reports Some Stabilization While Challenges Remain
Feb 26 2010 // American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008. The company said that net loss in the...
Employers Holdings Reports Net Income of $11.3 Million
Feb 25 2010 // Employers Holdings Inc. reported fourth quarter 2009 net income of $11.3 million compared with $15.9 million in the same period in 2008, a decrease of $4.6 million. Pre-tax income in the fourth quarter increased $13.8...
Texas Catastrophic Weather Losses Totaled $2.5B in 2009
Feb 25 2010 // Texas in 2009 experienced weather catastrophes amounting to more insured losses than any other state. Last year, Texas experienced 10 weather catastrophes that caused nearly $2.5 billion in losses. The next nearest state...
Architect Not Liable for Economic Loss in Construction Defect Case
Feb 25 2010 // A property owner cannot sue an architectural firm for economic losses because of negligent design in a construction defect case, the Arizona Supreme Court has ruled. Issuing its decision in Flagstaff Affordable Housing...
Marsh Concludes Energy Sector Applies Risk Lessons from Past Losses
Feb 24 2010 // New research by Marsh has concluded that, “despite an increase in the size and scale of new energy infrastructure projects, national oil companies (NOCs) and other energy and chemical concerns are experiencing fewer...
Wills’ Faber & Dumas Appoints Tollan to Drive Revenue Growth
Feb 23 2010 // Gerry Tollan has joined Faber & Dumas, the wholesale brokerage division of Willis Group Holdings, as Business Development Director, effective immediately. He is based in London and will report to Steve Hearn, CEO....
Montpelier Re Posts $104.7 Million Q4 Net Income; $463.5 Million Full Year
Feb 22 2010 // Bermuda-based Montpelier Re Holdings Ltd. reported greatly improved fourth quarter and full year financial results. The reinsurer’s fourth quarter net income was $104.7 million ($1.25 per share), compared to a loss...
Argo Group Net Income Rose by 87% in 2009 to $117.5 Million
Feb 22 2010 // The Bermuda-based Argo Group International Holdings, Ltd. (the successor company of the Argonaut Group) announced a record result for 2009 with net income rising by 87 percent to $117.5 million, or $3.81 per diluted share...
Validus Reports $165.8 Million Q4 Net Income; $897.4 Million Full Year
Feb 22 2010 // Bermuda-based Validus Holdings, Ltd. reported net income of $165.8 million, or $1.23 per diluted common share for the three months ended December 31, 2009, compared with net income of $37.0 million, or $0.47 per diluted...
