Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
PartnerRe to Release Q4, FY Earnings Today; Conference Call Details
Feb 2 2009 // Bermuda-based PartnerRe will release its 2008 fourth quarter and full year results after the market close today, Monday, February 2, 2009. PartnerRe senior management will conduct a dial-in conference call, which will...
S&P Lowers Allstate’s Operating Co. Ratings to ‘AA-‘; Outlook Negative
Jan 30 2009 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Allstate Corp.’s core property-liability (Allstate Protection) and life insurance (Allstate...
Argo Ups Ike Loss Estimates
Jan 30 2009 // The Bermuda-based Argo Group International Holdings has increased its loss estimate for Hurricane Ike, including reinstatement premiums and estimated reinsurance recoveries, by approximately $15 million on a pre-tax basis....
Chubb’s Profits Contracted in 2008
Jan 30 2009 // Fourth quarter profits at Warren, New Jersey-based The Chubb Corp. fell 37 percent to $407 million from $650 million in the same quarter last year. For the full year, net income was down 36 percent to $1.8 billion from...
Arch Capital Gives Preliminary Earnings Estimates
Jan 30 2009 // The Bermuda-based Arch Capital Group Ltd. announced that it expects to report after-tax operating income available for common shareholders in the range of $75 million to $90 million for the 2008 fourth...
Allstate Posts 9% Decline in Profit for 2008; Combined Ratio at 99.4%
Jan 29 2009 // Allstate reported consolidated revenues were $6.6 billion in the fourth quarter of 2008 and $29.4 billion for the 2008 year, a 9 percent drop from the previous year. The decrease in revenue of $2.4 billion and $7.4 billion...
Selective Insurance Posts Fourth Quarter Loss
Jan 29 2009 // Branchville, New Jersey-based Selective Insurance Group Inc. reported a fourth-quarter net loss, hit by a 63 percent fall in investment income, sending its shares down more than 10 percent. The property and casualty...
UPDATE: AIR Puts Insured French Storm Losses at $465 to $930 Million
Jan 28 2009 // Catastrophe risk modeling firm AIR Worldwide has given its preliminary estimates of insured losses in France from winter storm Klaus of between €350 million and €700 million ($465 to $930 million). AIR noted...
Travelers Reports Solid Q4, Year-End Underwriting; ‘Well Positioned’ for 2009
Jan 27 2009 // The Travelers Companies, Inc. reported net income of $801 million for the quarter ended Dec. 31, 2008, compared to $1.063 billion, for the quarter ended Dec. 31, 2007. Operating income in the current quarter was $939...
Report: Upgrading FEMA Flood Maps Would Save Lives, Stem Losses
Jan 26 2009 // Nearly four years after the devastation of Hurricane Katrina, researchers called on the federal government to upgrade its flood maps, arguing that the effort could save lives as well as stem losses to properties and...
Insurance Claims for 2008 U.S. Catastrophes to Top $25 Billion
Jan 25 2009 // U.S. property/casualty insurers are expected to pay homeowners and businesses $25.2 billion for 2008 property losses from 37 catastrophes — the fourth highest cost in a decade and the highest frequency in a decade,...
Xl Insurance Hires 8 Engineers for Global Property Loss Prevention
Jan 22 2009 // XL Insurance announced from its office in Hartford that the Company has hired eight new field engineers for its worldwide property loss prevention services business, XL Global Asset Protection Services (XL...
Validus Ups Ike Losses to $235 Million
Jan 22 2009 // Bermuda-based Validus Holdings announced that it has increased its estimate of the net adverse effect from Hurricane Ike by approximately $70.1 million to a current total estimate of approximately $235.1 million. Validus...
Insurers Propose Decrease for Nevada Workers’ Compensation Rates
Jan 22 2009 // Nevada Insurance Commissioner Scott Kipper announced that the industry’s National Council on Compensation Insurance Inc. (NCCI) has submitted a filing for an average decrease of 4.9 percent for Nevada workers’...
Best Affirms PartnerRe’s ‘A+’ Ratings
Jan 21 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings of “aa-” of the Bermuda-based PartnerRe Group and its members. Best also affirmed the ICR...
Texas Led Nation in Catastrophic Losses in 2008
Jan 21 2009 // A combination of hurricanes and severe thunderstorms pushed claims to exceed $10 billion for Texas property and casualty insurers in 2008. The losses in Texas exceeded all of the industry’s catastrophic losses for...
UK launches 2nd Bank Rescue Plan, RBS Losses Near $30 Billion
Jan 20 2009 // The UK launched a second bank rescue plan on Monday. One of the recipients, Royal Bank of Scotland, said it lost over £20 billion ($29.3 billion) last year and Japan said bad loans worldwide had further to climb. The...
Insurance Claims for 2008 U.S. Catastrophes to Top $25 Billion
Jan 20 2009 // U.S. property/casualty insurers are expected to pay homeowners and businesses $25.2 billion for 2008 property losses from 37 catastrophes — the fourth highest cost in a decade and the highest frequency in a decade,...
Munich Re Webinar Provides Insights on Nat Cats, Industry Strength
Jan 16 2009 // Munich Re’s Webinar on Thursday – 2008 Natural Catastrophes – presented a detailed analysis of the increasing number of weather related events that concern both primary carriers and reinsurers. It also...
Mercury General Corp. to Report Q4 Results
Jan 15 2009 // Los Angeles-based Mercury General Corp. announced it will release results for its fourth quarter and twelve month period ended Dec. 31, 2008, at 10 a.m. Pacific Time on February 9. The company will host an investor...
