Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Middle East/Africa Ratings Recap: Trust Re, Arab Orient, Leadway, E. Africa Re, Africa Re
Jun 30 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Bahrain-based Trust International Insurance & Reinsurance Company...
Midwest Flood Losses Sink In as Mississippi River Water Levels Recede
Jun 30 2008 // Farmhouses appear to float on lakes, and farmers use boats to get to their barns. Businesses are shuttered as flooded roadways cut off customers. Rail lines, factories, river locks are shut down. Homeowners, who watched...
P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter
Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...
Why Some Agents Are Earning More Than Others
Jun 23 2008 // Just like any industry, there are some insurance agents that earn more money than others. And not only do they earn more, they make their competition look bad. One of the best ways to join the top performers in your...
Insurers Could Be Hit by U.S. Midwest Crop Loss Claims
Jun 17 2008 // Insurers who sell coverage compensating farmers in the event of damage to their crops could be hit by claims from severe flooding in parts of the U.S. Midwest, according to an analyst report. While it is too soon to know...
Bank Insurance Brokerage 1Q Earnings Hit Second-Highest Level Ever
Jun 17 2008 // Quarterly earnings from bank insurance brokerage hit their second-highest level in first quarter 2008. Bank insurance brokerage earnings in the first three months of 2008 were $1.078 billion, up 8.6 percent from $993.3...
Texas Weather Portends Record Agriculture Losses
Jun 16 2008 // In more than four decades of farming, Texas cotton producer Rickey Bearden says he’s never seen an early growing season like this one. In the past month, the South Plains — the world’s largest contiguous...
Wyoming Court: Use Only Worker’s Income in Figuring Comp Benefits
Jun 16 2008 // The Wyoming Supreme Court ruled that the state Workers’ Compensation Division erred when it denied a worker benefits because it included his wife’s income in calculating the “household income”...
Fitch: U.S. P/C Industry Shifts To Modest Underwriting Loss In 2008
Jun 13 2008 // Fitch Ratings said that following a review of industry aggregate statutory financials for year-end 2007 and 1Q 2008, the rating agency has updated its full-year 2008 U.S. Property/Casualty industry forecast and now...
Workers’ Comp Insurer AmCOMP Fights Excess Profits Charge in Florida
Jun 11 2008 // Florida-based workers compensation insurer AmCOMP Inc. has asked for a hearing to dispute Florida officials’ claim that its profits have been excessive. According to AmCOMP’s request for the hearing, the...
American Family Says Losses in Midwest $143 Million Since May 1
Jun 10 2008 // One insurance company based in the Midwest says weather-related losses are adding up quickly. Madison, Wis.-based American Family Insurance Company says that claims are mounting in the Midwest since tornados, windstorms,...
Willis Sees Deal to Buy HRH Raising U.S. Revenue
Jun 9 2008 // Willis Group Holdings, the third largest global insurance broker, said Monday it sees its $2.1 billion deal for a rival broker boosting growth, especially in the United States. Willis said late Sunday it would buy...
Wyoming Court: Use Only Worker’s Income in Figuring Comp Benefits
Jun 5 2008 // The Wyoming Supreme Court ruled that the state Workers’ Compensation Division erred when it denied a worker benefits because it included his wife’s income in calculating the “household income”...
RMS Launches New U.S. Hurricane Loss Index
Jun 3 2008 // Catastrophe risk modeling firm Risk Management Solutions (RMS) has launched a new index for assessing insured industry losses from U.S. hurricanes. Named the Paradex U.S. Hurricane, it combines actual wind speeds at...
Study Says Mass. Health Reforms Cut Uninsured Rate by 50%
Jun 3 2008 // In the first year after Massachusetts implemented its landmark coverage expansion and health reforms, the uninsurance rate among adults in the state dropped by almost half, from 13 percent to 7.1 percent. A new Urban...
West Virginia’s Loss at Greenbrier is Virginia’s Gain at The Homestead
Jun 2 2008 // The Council of Insurance Agents and Brokers has shifted two conferences with 800 people to The Homestead, a Hot Springs, Virginia, mountain resort, from The Greenbrier, the White Sulphur Springs, West Virginia, resort...
$50M in Insured Losses Expected From May Storm in Austin
Jun 2 2008 // Earlier North Texas storms rack up more than $200 million in damages Trees downed in May 14 storm damaged this house in central Austin. Back-to-back storm systems that surprised Central Texas overnight May 14-15 with...
Study: Moderate Income Households an Untapped Insurance Market
Jun 2 2008 // Many low- and moderate-income households need more insurance and want to know more about it, according to a recent study by the Federal Reserve Bank of Chicago. Overall, these consumers hold positive views about insurance,...
A Soft Market Solution: MGAs and Risk Sharing
Jun 2 2008 // Part 2: Soft Market Benefits of Risk Sharing Extend Beyond Potential for Increased Profits Editor’s Note: The following is part two of a discussion of the risk retention options available to managing general agents,...
Best Takes a Number of Rating Actions on AIG and Subsidiaries
May 29 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of the domestic life and retirement services subsidiaries of American...
