Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
California Insured Fire Losses Could Reach $800 Million
Nov 21 2008 // As the fires continue to burn in parts of southern California, industry analysts are predicting insured losses from the Freeway Complex, Sayre and Tea Fires will range from $600 million to $800 million. Catastrophe risk...
What Additional Living Expense/Loss of Use Coverage Means to California Fire Victims
Nov 17 2008 // The skies are filled with smoke, and thousands of homeowners being evacuated from their homes in Southern California. It has been a weekend of devastation with the fires still ablaze. Our Saturday night’s plans...
Even Best Practices Agencies Struggle To Grow in Soft Market
Nov 16 2008 // Revenue Growth Proves Challenge, Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) last month released its annual Best Practices Study. The independent...
Even Best Practices Agencies Struggle to Grow in Soft Market
Nov 16 2008 // Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) in October released its annual Best Practices Study. The independent...
Successive Hurricanes: Potential Windfall for Insureds?
Nov 16 2008 // The 2008 hurricane season came very close to presenting, on a large scale, the potential quandary caused by successive losses. On Sept.1, 2008, Hurricane Gustav came ashore and caused substantial damage from the Louisiana...
Sensible Success
Nov 16 2008 // Focusing on One Industry Has Allowed Construction Specialist Allied North America to Grow Organically Through Even the Toughest Markets Top 100 Agency Profile Ranking: No. 6 Agency Name: Allied North America Headquarters:...
Attract and Win Social Services Business with Risk Management Strategies
Nov 16 2008 // How Insurance Professionals Can Be Valuable Advisors to Non-Profit Organizations Operating a non-profit social service business has always been a challenging balance between meeting constituent needs, funding the...
Study: California Earthquake Could Cause $200 Billion in Losses
Nov 16 2008 // If a magnitude 7.0 earthquake occurred on California’s Hayward Fault, it would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured, according to a study...
Zurich Posts $154 Million Q3 Net Profit; $2.8 Billion for 9 Months
Nov 13 2008 // Zurich Financial Services Group managed to report net after tax profits for the this quarter of 2008 of $154 million, despite what it described as “the impact of particularly adverse circumstances during the third...
Unico American Corp. Reports Q3 Results
Nov 12 2008 // Unico American Corp., an insurance holding company based in Woodland Hills, Calif., that, through its subsidiaries, including Crusader Insurance Co., offers a variety of property and casualty insurance products and...
S&P Affirms Allianz ‘AA’ Ratings, Stable Outlook Despite Investment Losses
Nov 11 2008 // Standard & Poor’s Ratings Services has affirmed its ‘AA’ long-term counterparty credit and insurer financial strength ratings on Germany’s Allianz SE (AZSE) and various core operating...
Liberty Mutual Absorbs $800 Million in Catastrophe Losses in Q3
Nov 11 2008 // Quarterly profits nosedived by nearly 99 percent at Boston-based Liberty Mutual group, which saw its third quarter earnings fall to $6 million – down from $404 million in the same quarter last year. “Given the...
Hiscox Sees Strong 2009 Despite Premium Income Drop
Nov 10 2008 // The Bermuda-based, but UK-listed, insurer Hiscox expects strong growth in 2009, thanks to rising premiums in some of its core markets and increased business due to credit and capital problems at some competitors, it said...
Dresdner Q3 Loss Hits Allianz Again
Nov 10 2008 // Allianz’s Dresdner Bank unit posted its biggest quarterly loss since the start of the financial crisis, the insurer said on Monday, pushing the group to a €2 billion ($2.58 billion) net loss. Allianz is selling...
Ratings on Munich Re ‘Unaffected’ by Q3 Earnings Decline Says S&P
Nov 10 2008 // Standard & Poor’s Ratings Services has said that its ratings and outlook on Germany’s global reinsurer Munich Reinsurance Co. (current ‘AA-‘ Stable outlook) and related core entities “are...
Validus $126 Million Q3 Net Loss; 9-Month Net Income $16 Million
Nov 10 2008 // Bermuda-based Validus Holdings Limited reported a net loss for the quarter ended September 30, 2008 of $126.3 million, or $1.71 per diluted common share, compared with net income of $136.5 million, or $1.90 per diluted...
Allied World $46 Million Q3 Net Loss; 9-Month Net Income $164 Million
Nov 10 2008 // Bermuda-based Allied World Assurance Company Holdings reported a net loss of $46.4 million, or $0.95 per diluted share, for the third quarter of 2008 compared to net income of $109.0 million, or $1.72 per diluted share,...
CastlePoint Posts $13 Million Q3 Loss; $6.7 Million Profit for 9 Months
Nov 10 2008 // Bermuda-based CastlePoint Holdings reported a net loss of $13.2 million and basic and diluted loss per share of $0.34 for the third quarter of 2008 as compared to third quarter 2007 net income of $10.5 million and diluted...
AIG Reports $24B Loss in Q3; Claims ‘Strong’ Client Retention
Nov 10 2008 // Giant financially-troubled insurer American International Group Inc. posted its largest-ever quarterly loss today– $24.47 billion — as the damage from write-downs on assets related to subprime mortgages...
AIG Deal Revamp Seen Halting Losses, Says Fed Official
Nov 10 2008 // The U.S. government retooled a rescue package for insurer American International Group to take advantage of its new ability to inject capital into the firm, a senior Federal Reserve official said on Monday. Taking an...
