Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers
Jul 11 2008 // Standard & Poor’s Ratings Services said it does not expect the 2008 Midwest floods to impact ratings or outlooks for the majority of companies that it rates. However, property/casualty writers that are...
AIG, Other Mortgage Insurers’ Stocks Fall on Mortgage Loss Fears
Jul 11 2008 // Shares of American International Group Inc, the world’s largest insurer, fell 8.2 percent Thursday on concerns that a rating cut at its mortgage insurance unit could signal more losses in the...
Harleysville Insurance Hammered by 2d Quarter Catastrophe Losses
Jul 10 2008 // Regional property/casualty insurer Harleysville Group Inc. reported that estimated second quarter catastrophe losses from storms in the Midwest and elsewhere will be the most the insurer has faced in a quarter in more than...
2008 Catastrophe Losses Already Exceed 2007; On Track to Pass 2006
Jul 9 2008 // A large number of exteme weather events pummeled the United States in the first half of the year, and worldwide 2008 may go down in history as a year with one of the highest number of natural catastrophe victims, according...
Munich Re of Africa Reports Premium, Profit Growth
Jul 8 2008 // Munich Reinsurance Co. of Africa – the largest reinsurer in Sub-Saharan Africa – posted positive underwriting results for 2007. MRoA announced a 25.4 percent increase in gross premium income to R3, 2billion,...
Japan: Risk and Rewards
Jul 7 2008 // A Glimpse into Japan’s Property and Casualty Market The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of...
In Brokers We Trust
Jul 7 2008 // Alliant Insurance Services Puts Its Money Where Its Trust Is — In Teams, Not Individuals Insurance Journal Top 100 Agency Profile Alliant Insurance Services RANKING: No. 2 Headquarters: Newport Beach, Calif. Year...
Willis Buys HRH for $2.1 Billion
Jul 7 2008 // Combined Firm Doubles Employee Benefits Business Willis Group Holdings Chairman and CEO Joe Plumeri holds a reputation for taking on challenges. On June 8 his company gave him one. Willis announced it has agreed to buy...
Bank Insurance Brokerage 1Q Earnings Hit Second-Highest Level Ever
Jul 7 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...
Non-Profits Say Resources Very Low After Midwest Flooding Disaster
Jul 2 2008 // Dallas, Texas-based Ketchum, Inc., a non-profit consultant in the area of fundraising, recently conducted a survey with over 50 not-for-profit organizations in the Midwest flood zone. The results showed that resources have...
Conning Research: P/C Loss Reserves Position Deteriorated in 2007
Jul 1 2008 // While the property/casualty industry still appears to have strong reserves, overall its position began to deteriorate in 2007, according to a new study by Conning Research and Consulting Inc. “The property-casualty...
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...
