Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Banks in Insurance Advance Despite Soft Market, Study Reports
Dec 4 2007 // Despite a soft property and casualty (P/C) insurance market, the top 100 banks in insurance made substantial gains in the past year, says a new report distributed by the Bank Insurance & Securities Association The...
U.S. Personal Lines Insurers Trying To Maintain Profits In Softening Market
Dec 4 2007 // U.S. personal lines insurance sector is at a critical juncture, according to an article published by Standard & Poor’s Ratings Services. The article, which is titled “2008 U.S. Personal Lines Outlook: A...
Catastrophic Events Raise Business Interruption Coverage Questions
Dec 2 2007 // Considering the number of people who lived and worked in the area, the destruction of the World Trade Center complex was the functional equivalent of obliterating a small- to medium-sized city. Several recent and...
Five Trends for Agents to Track
Dec 2 2007 // In a poem written 2,000 years ago by Horace, he used the phrase “carpe diem,” which is commonly translated as “seize the day.” Although interpretations of this phrase vary, one interpretation can...
Safeco Estimates Calif. Wildfire Losses at $35 Million
Dec 2 2007 // Frank Santoya, a member of the California Fire Office of the State Fire Marshall, walks through the rubble as he surveys the fire damage in the Rancho Barnardo neighborhood of San Diego on Oct. 30, 2007 (AP Photo/Rick...
Actuaries Have Special Role When Explaining Credit Scores and Losses
Dec 2 2007 // Despite evidence it is not always clear why there is an association between scores and losses By explaining why there is an association between credit scores and insurance losses, insurers and actuaries can promote a...
Loss Control Crucial to Program Success
Dec 2 2007 // Loss control personnel are not often thought of fondly in customers’ minds, according to Steve Anderson, portfolio executive, risk engineering for the Zurich Program Business Unit of Zurich North America. “We...
Ark. Study: 1 in 10 Will Spend More Than 1/3 of Earnings on Health Care
Nov 30 2007 // One out of every 10 Arkansans belong to a family that will spend more than 25 percent of their pretax earnings on out-of-pocket medical expenses next year, a new study shows. The study by Families USA, a nonprofit,...
S&P: Japan Non-Life Insurers ‘Show Improvement in Profits’
Nov 29 2007 // A report from Standard & Poor’s Ratings Services concludes that Japan’s top nine non-life insurers recorded ¥173 billion ($1.575 billion) in interim net profits for the first half of fiscal 2007 (ended...
Millea Group Ups Profit Forecast; Subprime Exposure $245 Million
Nov 20 2007 // Japan’s Millea Group – Tokio Marine, Nichido and Nissin Fire – increased its profit forecasts for the fiscal year ending March 2008 by Yen 7.7 billion ($70 million), despite some exposure to subprime...
Employers Holdings Reports Net Income of $29.9 Million in Q3
Nov 20 2007 // Reno, Nev.-based Employers Holdings Inc. reported results for the third quarter and nine months ended Sept. 30, 2007. Consolidated net income was $29.9 million, or $0.58 per share, for the third quarter of 2007, compared...
Catastrophic Events Raise Business Interruption Questions
Nov 18 2007 // Agents advised to discuss extended coverage provisions and contingent business interruption insurance Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005...
Catastrophic Events Raise BI Coverage Questions
Nov 18 2007 // Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005 and the Sept. 11, 2001, terrorist attacks — have raised awareness of how, and whether, business...
Looking for Profits at Marsh
Nov 18 2007 // MMC’s CEO Cherkasky searches for more insurance commissions The Marsh & McLennan Companies, or MMC, has seen its once dominant position atop the brokerage world assailed by changing conditions, Eliot Spitzer,...
Actuaries Have Special Role When Explaining Credit Scores and Losses
Nov 16 2007 // By explaining why there is an association between credit scores and insurance losses, insurers and actuaries can promote a better understanding of why credit scores are a useful underwriting tool, attendees of the Casualty...
SCOR’s Nine-Month Income Jumps 93% to $437 Million
Nov 16 2007 // France’s SCOR Group posted significant earnings gains for the first nine months of 2007, with net income up 93 percent to €299 million ($437 million) and gross written premiums up 62 percent to €3.381 billion...
AIR Estimates Chile Earthquake Insured Losses Not Over $80 Million
Nov 16 2007 // AIR Worldwide Corporation announced that it estimates insured losses from a major earthquake that struck the coast of Chile on Wednesday will likely not exceed $80 million. AIR noted that the “USGS has issued a...
Greenlight Reports $2.1 Million Q3 Loss
Nov 15 2007 // Cayman Islands-based Greenlight Capital Re, Ltd. reported a net loss of $2.1 million for the third quarter of 2007 compared to a profit of $17.5 million for the same period in 2006. On a fully diluted per share basis, the...
S&P Report on Bermuda’s Re/Insurers – Cautious, but Optimistic
Nov 14 2007 // Analysts from Standard & Poor’s Ratings Services have pit together an analytical report on Bermuda’s insurance and reinsurance industry, following what S&P sees as “another excellent...
Safeco Estimates Calif. Wildfire Losses at $35 Million
Nov 12 2007 // Seattle-based Safeco is estimating that claims stemming from the recent California wildfires will amountto $35 million in pretax catastrophe losses. That figure represents the estimated losses both from claims received...
