Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Study: General Liability Losses, Expenses Likely to Rise Rapidly
Mar 12 2009 // The general liability line of insurance has produced industry-wide combined ratios below 100 percent for the past two years, but this profitable underwriting performance is unlikely to continue, analysts report. General...
Brit Posts Lower Profit – $125 Million; Looking at Dutch Domicile
Mar 9 2009 // Brit Insurance, a diversified UK-based insurer posted lower profits for 2008, but still managed a respectable £89.2 million ($125 million), compared to £191.2 million ($267 million) in 2007. The Company’s...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Mar 9 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
Analysis: AIG Meltdown Has Roots in Greenberg Era
Mar 9 2009 // Maurice “Hank” Greenberg’s legacy as the man who built AIG into the world’s largest insurer was tarnished by a 2005 probe but questions about whether he created a financial monster that subsequently...
UK’s Aviva Posts $1.258 Billion Loss
Mar 6 2009 // The UK’s Aviva PLC, Europe’s biggest provider of life insurance and pension products, booked a net loss for 2008, due to a drop in the value of assets amid the financial crisis, which caused the company’s...
New York Regulator Says AIG Securities Lending Losses Manageable
Mar 5 2009 // The securities lending unit of American International Group Inc. was being successfully wound down and had manageable losses if not for the firm’s massive credit default swap exposure, New York Insurance...
AmWINS Acquires 3 Medical Stop Loss Insurance Wholesale Brokers
Mar 5 2009 // Charlotte, North Carolina-based insurance wholesale brokerage AmWINS Group, Inc. has acquired three medical stop loss wholesalers in three separate regions of the country. The firms acquired are American Stop Loss...
Analysis: AIG Meltdown Has Roots in Greenberg Era
Mar 3 2009 // Maurice “Hank” Greenberg’s legacy as the man who built AIG into the world’s largest insurer was tarnished by a 2005 probe but questions about whether he created a financial monster that subsequently...
Best Downgrades Hartford’s Life and P/C Ratings; Outlooks Mostly Negative
Mar 3 2009 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of the key...
AIG Reports $62B Loss for Q4; $99B for Year
Mar 2 2009 // American International Group Inc. posted a $61.7 billion fourth-quarter loss — its fifth consecutive quarterly loss and the biggest quarterly loss in corporate history. The quarter’s net loss of $61.7 billion...
S&P Says Allianz Ratings, Outlook ‘Unaffected By 2008 Loss’
Mar 2 2009 // Standard & Poor’s Ratings Services has stated that its ratings and outlook on Germany’s Allianz SE (AZSE – rated AA/Stable/A-1+) and various core operating entities “are unaffected by the...
State Farm: $6.3B P/C Underwriting Loss, $2.1B Operating Loss in 2008
Feb 27 2009 // The net worth for the State Farm group decreased in 2008 by $10.4 billion to end the year at $53.3 billion, the company reported. The primary reason for the decrease was the $9.2 billion decline in the value of the...
Employers Holdings Reports Net Income Dropped 15.4% in 2008
Feb 26 2009 // Reno, Nev.-based Employers Holdings Inc. reported net income for the fourth quarter of 2008 of $15.9 million compared with $31.8 million in the fourth quarter of 2007. Net income includes amortization of the deferred...
Amerisafe’s Q4 Profit Sinks 69%
Feb 25 2009 // Louisiana-based Amerisafe Inc., a writer of high hazard workers’ compensation insurance, said its fourth-quarter profit fell 69 percent due to $13.4 million in realized capital losses. Net income for the quarter...
SeaBright Revenue Up 5.2% in Q4; Up 5% for Year-End 2008
Feb 25 2009 // SeaBright Insurance Holdings Inc., based in Seattle, Wash., reported net income for the fourth quarter 2008 increased 2.3 percent year-over-year, to $10.2 million compared to net income of $10.0 million for the same period...
Chubb Offers Coverage to Upgrade Green After Home Loss
Feb 24 2009 // If a home is damaged or destroyed, homeowners may want to rebuild with green materials and processes, but the additional cost can be prohibitive. Now, homeowners can obtain insurance through the Chubb Group of Insurance...
Kingsway Financial Loss Worse Than Forecast
Feb 23 2009 // Toronto-based Kingsway Financial Services Inc. said Friday its quarterly loss came in even deeper than it had estimated a week ago, leading the company to chop its dividend and sending its shares 15 percent lower. The loss...
American National Reports Losses
Feb 23 2009 // Galveston, Texas-based American National Insurance Company announced a fourth quarter 2008 net loss of $34,564,000, compared to net income of $53,332,000 for the same period in 2007. Other-than-temporary impairments of...
Guyana Insurer Blames Stanford Group for Losses
Feb 23 2009 // A leading insurance company in Guyana says it has lost nearly $1.5 million in pension funds after investing with Texas financier R. Allen Stanford. Spokesman Hewley Nelson says the “Hand in Hand” company began...
AIG Reportedly Facing $60 Billion Loss; In Talks For More Government Aid
Feb 23 2009 // American International Group Inc., rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be...
