Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Colorado Orders 16% Decrease in Workers’ Comp Loss Costs
Oct 20 2008 // Colorado employers may be paying lower premiums for workers’ compensation insurance in 2009, because a significant component of workers’ compensation premiums, known as loss costs, will drop 16 percent, the...
Greenberg: AIG’s Risky Subprime Activity ‘Exploded’ After He Left
Oct 20 2008 // American International Group’s (AIG) exposure to the subprime mortgage market that precipitated the government’s $85 billion bailout came as a result of business conducted after he left the company, according...
Catlin Issues Ike/Gustav and Investment Loss Estimates
Oct 17 2008 // The Bermuda-based Catlin Group Limited has announced its initial estimate of the financial impact of Hurricanes Ike and Gustav and an update on its investment performance and trading conditions. The Group said its...
Best Comments on XL’s Preliminary Q3 Results
Oct 17 2008 // A.M. Best Co. has commented that the financial strength (FSR) and issuer credit ratings (ICR) of XL Capital Group and its members are unchanged following the recently announced preliminary estimates of third quarter 2008...
Correction on ACE Limited Preliminary Q3 Earnings
Oct 16 2008 // An October 13, 2008 Insurance Journal story reporting on estimates of third quarter results announced by ACE Limited out of Zurich contained an editing error that produced inaccuracies, particularly surrounding the...
Bank Holding Companies’ Insurance Revenue Jumps 9.5%
Oct 16 2008 // The nation’s bank holding companies increased their total insurance revenue 9.5 percent to $23.7 billion in the first half of 2008 from $21.7 billion during the same period in 2007. CitiGroup (N.Y.), Wells Fargo...
XL Estimates $1.65 Billion Loss But Beats Forecast
Oct 15 2008 // XL Capital Ltd, a large Bermuda-based insurer, estimated Tuesday a quarterly net loss of $1.65 billion to $1.67 billion, and said its chairman involuntarily sold about 80 percent of his common shares last week to meet a...
Everest Re Gives Preliminary Q3 Estimates; $246 Million Capital Loss
Oct 14 2008 // The Bermuda-based Everest Re Group has announced its preliminary estimates of third quarter 2008 results. The Company said after-tax operating income, which excludes capital gains/losses, for the third quarter of 2008 are...
Colorado Orders 16% Decrease in Workers Comp Loss Costs
Oct 13 2008 // Colorado employers may be paying lower premiums for workers compensation insurance in 2009, due to the announcement that a significant component of workers’ compensation premiums, known as loss costs, will drop 16...
ACE Announces Preliminary Q3 Earnings; $1.5 Billion Capital Loss
Oct 13 2008 // ACE Limited has made a pre-earnings announcement of its third quarter financial results from is headquarters in Zurich. “Given the extraordinary market conditions and questions of investor confidence in financial...
Aspen Says Ike/Gustav Losses at $155 Million; Investments at $47.4 Million
Oct 13 2008 // Bermuda-based Aspen Insurance Holdings Limited has issued a comment on the combined loss estimates for the hurricanes Gustav and Ike. In the same bulletin Aspen discussed the “impact of recent events in the financial...
York Insurance Services Group, Inc. Acquires Site Inspections LLC, Now Offering Nationwide Loss Control Services
Oct 10 2008 // PARSIPPANY, N.J., (October 10, 2008) – York Insurance Services Group, Inc., a premier national provider of insurance services, including claims handling, specialized loss adjusting, managed care, insurance pool...
Validus Estimates Ike/Gustav Losses at $185 Million
Oct 10 2008 // Bermuda-based Validus Holdings, Ltd. announced that it expects Hurricanes Ike and Gustav will negatively effect the third quarter of 2008 by approximately $165 million and $20 million, respectively. The majority of claims...
Greenberg: AIG’s Risky Subprime Activity ‘Exploded’ After He Left
Oct 10 2008 // American International Group’s (AIG) exposure to the subprime mortgage market that precipitated the government’s $85 billion bailout came as a result of business conducted after he left the company, according...
Insurers See Lower 3Q Income, S&P Revises Life Insurer Outlook
Oct 10 2008 // U.S. life insurers Lincoln National Corp. and ACE Ltd reassured investors that they have enough capital, but credit rating agency Standard & Poor’s cut its outlook for the industry on Friday. The Progressive...
Endurance Releases Hurricane, Financial Loss Estimates
Oct 8 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced its initial loss estimate related to Hurricanes Ike and Gustav at around $145 million pretax and net of reinsurance and reinstatement premium. The company also...
Mercury General To Report Q3 Results on November 3
Oct 8 2008 // Los Angeles-based Mercury General Corp. reported will release results for its third quarter ended Sept. 30, 2008, and will host an investor conference call and Webcast that same day at 10 a.m. Pacific Time (1:00 P.M....
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
ID Theft Insurance: Oasis or Mirage?
Oct 6 2008 // Is It Worth Recommending to Valued Agency Clients? A client concerned about identity theft might consider moving to the Dakotas. It’s best to stay away, however, from Arizona, California, Nevada, Texas, Florida and...
XL Gustav, Ike Losses $195 to $270 Million; Minimal Investment Loss
Oct 3 2008 // Bermuda’s XL Capital Ltd. has announced preliminary net loss estimates for Hurricanes Gustav and Ike, as well as the effect on its investment portfolio from Lehman Brothers, Washington Mutual, Fannie Mae and Freddie...
