Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
ACE Estimates Gustav, Ike Losses at Around $315 Million
Oct 3 2008 // ACE Limited announced from its headquarters in Zurich that it estimates net after-tax losses in the third quarter for the ACE Group of Companies from catastrophes, including Hurricanes Gustav and Ike, will amount to...
Low Income, Elderly in 6 Texas Cities to Receive Smoke Alarms
Oct 1 2008 // Firefighters in six Texas cities will be installing smoke alarms into the homes of low income and elderly residents thanks to this year’s We’re Out to Alarm Texas smoke alarm campaign. The program now in its...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
A.M. Best: Economic Climate May Trigger a Turn in U.K. Cycle
Sep 30 2008 // Underwriting margins in the United Kingdom remain under pressure in 2008, despite positive rate movement in some sectors, according to a report by A.M. Best, which also suggested that the economic downturn could ultimately...
AIR Estimates China Typhoon Insured Losses at $100 to $250 Million
Sep 29 2008 // Catastrophe risk modeling firm AIR Worldwide estimates that insured losses to onshore properties in China from both wind and precipitation-induced flooding from Typhoon Hagupit will be between $100 million and $250...
Axis Gustav-Ike Losses $310- $430 Million; Details Investment Exposure
Sep 29 2008 // Bermuda-based AXIS Capital Holdings Limited announced that preliminary net loss estimates for Hurricanes Gustav and Ike range from approximately $310 million to $430 million, net of reinstatement premiums. Axis’...
President Clinton Spotlights LeapFrog, First Microinsurance Firm
Sep 28 2008 // At the Clinton Global Initiative Annual Meeting last week in New York City, former President Bill Clinton announced the launch of LeapFrog Investments, the world’s first investment firm to focus on the insurance...
California Workers’ Comp Insurance Rating Bureau Reports Q2 Results
Sep 26 2008 // The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released its summary of the second quarter insurer results, which ended June 30, 2008. The report lists the following...
Lloyd’s Six Month Profits Fall 47.5% to $1.76 Billion
Sep 25 2008 // Lloyd’s has reported interim results, which show a marked decline in profits for the first six months of 2008. Nonetheless, compared to what’s been happening in the global financial sector (where Lloyd’s...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Sep 24 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...
Max Cap Details Gustav, Ike Losses; Interim Investment Results
Sep 23 2008 // The Bermuda-based Max Capital Group Ltd. announced preliminary estimates of claims for Hurricanes Gustav and Ike that range from approximately $35 million to $50 million, net of reinstatement provisions. Max Cap said the...
CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations
Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...
Hannover Re Gustav Losses Around $146 Million
Sep 22 2008 // Wilhelm Zeller, Chief Executive Officer of Hannover Re, indicated, in a meeting at the recent Reinsurance Rendezvous in Monte Carlo, that industry wide losses from hurricane “Gustav”, would be in the range of...
Hurricane and Political Seasons Stir Up National Cat Plan Proposals
Sep 22 2008 // As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and...
Fitch: P/C Profits Decline Sharply in First-Half 2008
Sep 22 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008. Profitability declined due to poor investment performance and deteriorating accident-year underwriting results, which...
Early Estimates of Ike Damage: $6B to $18B
Sep 22 2008 // The Real Numbers Won’t be Known for Weeks Estimates of insured damage from Hurricane Ike vary widely — from $8 billion to $16 billion, according to several catastrophe risk modeling firms, but Texas Insurance...
AIG’s First Half Showed Slump
Sep 21 2008 // American International Group Inc., which was bailed out by an $85 billion government loan last week, not only has posted billions of dollars in losses in its financial services operations but its more traditional insurance...
Platinum Puts Gustav Losses at $15 Million
Sep 19 2008 // Bermuda-based Platinum Underwriters Holdings announced that its initial loss estimate from Hurricane Gustav of approximately $15 million, net of reinstatement premiums and tax benefit. The Company stressed that the...
Flagstone Re: Gustav, Ike Losses Around $85 Million, Investment Commentary
Sep 17 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that its preliminary estimate of claims relating to its exposure to Hurricane Gustav are currently expected to be approximately $30 million, and exposure to...
S&P’s Analysis of Hurricane Season Finds Mounting Losses
Sep 16 2008 // Following Ike’s march through Texas, S&P noted that the preliminary estimates of insured losses “vary from $6 billion to $18 billion. (These figures include onshore and offshore exposure.)” Before...
