Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
EQECAT Model Warns of Potential $65 Billion in Gulf Energy Losses
Sep 6 2007 // A risk modeling projection from Oakland, Calif.-based EQECAT, Inc. forecasts that the passage of a strong hurricane “like Camille, a category 5 storm, with a track through the heart of Gulf of Mexico U.S. offshore...
Felix Weakens; RMS Puts Losses at Less than $200 Million
Sep 5 2007 // Hurricane Felix has been downgraded by Miami’s National Hurricane Center to a tropical depression as it crosses Central America. The storm left at least four people dead in Nicaragua, as it tore the roofs off houses...
Swiss Re: Nordic Region Storm Losses to Double by 2100
Aug 29 2007 // Swiss Re announced that a presentation at its second Nordic Risk & Insurance Summit (NORIS), “will show how winter storms Anatol, Gudrun and Per are harbingers of a more stormy future in Scandinavia, leading to...
La.: Hurricanes did $100B in Damage; State Short $34B to Cover Losses
Aug 28 2007 // Hurricanes Katrina and Rita were a $100 billion blow to Louisiana buildings and infrastructure, and federal aid and insurance payments fall about $34 billion short of making up for the losses, a state agency says. The $100...
Dean Losses ‘Manageable’ Says Fitch
Aug 28 2007 // Fitch Ratings indicated that that it expects insured losses from Hurricane Dean, “despite having been a Category 5 storm,” to be manageable for the insurance industry. The preliminary estimates range from a low...
EQECAT Puts Dean Mexico Losses at ‘Less than $250 Million’
Aug 23 2007 // EQECAT, Inc announced that preliminary estimates of cumulative insured losses from Hurricane Dean in two landfalls in Mexico would not “likely exceed $250 million.” EQECAT indicated that “overall,...
AIR Estimates Dean Mexico Losses ‘Unlikely To Exceed $400 Million’
Aug 23 2007 // AIR Worldwide’s provisional assessment of the losses in Mexico from Category 5 Hurricane Dean indicated that they are “unlikely to exceed $400 million.” AIR said its estimate “covers insured losses...
RMS Estimates Dean Losses around $1.5 Billion
Aug 22 2007 // Newark, Calif.-based Risk Management Solutions announced that it estimates losses from Hurricane Dean are likely to range between $750 million and $1.5 billion. RMS’ preliminary indications show around $300 million...
Hiscox Profits up 72% to $209 Million
Aug 21 2007 // The Hiscox Group’s move to a Bermuda domicile seems to have paid off. The firm announced first half 2007 net pretax profits of £105.6 million ($209 million) and a 17.3 percent increase in gross premiums written to...
AIR: Dean Jamaica Losses Won’t Exceed $1.5 Billion
Aug 21 2007 // AIR Worldwide has issued preliminary estimates indicating that insured losses in Jamaica from Hurricane Dean will not exceed $1.5 billion. The figure “covers insured losses to property, contents, business...
EQECAT Estimates Dean Losses Between $1.5-$ 3 Billion
Aug 20 2007 // Oakland Calif.-based EQECAT, Inc. issued a preliminary assessment of the insured losses from Hurricane Dean of between $1.5 and $3 billion. The estimate covers damages incurred by the hurricane’s passage through the...
AIR Estimates Peru Quake Losses under $1 Billion
Aug 20 2007 // Boston’s AIR Worldwide estimates that insured losses from the magnitude 8.0 earthquake that struck Peru’s Ica region, south of the capital Lima, on August 15 are unlikely to exceed $1 billion. “It is...
QBE H1 Net up 56% to $740 Million
Aug 20 2007 // Australia’s QBE Insurance Group reported a hefty 56 percent increase in after tax net profit for the half year to June 30, 2007 to a record A$921 million (US$740 million), compared to A$591 million (US$475 million)...
Employers Holdings Records Q2 Net Income of $30.8 Million
Aug 15 2007 // Reno, Nev.-based Employers Holdings Inc. has reported consolidated net income of $30.8 million for the second quarter of 2007, an increase of 43.9 percent from $21.4 million in the second quarter of 2006. Net income...
Swiss Re Names Matt Leming Sales Leader for Stop Loss Products
Aug 13 2007 // Swiss Re¹s Commercial Insurance recently announced that Matt Leming was named the firm’s sales leader for Stop Loss products. Leming will be located in Swiss Re¹s Kansas City office. > Leming has more than 20 years...
Validus Posts Q2 Net of $70.8 Million
Aug 13 2007 // Bermuda’s Validus Holdings Limited reported net income for the quarter ended June 30, 2007 of $70.8 million, or $1.17 per diluted common share, compared with $29.7 million, or $0.51 per diluted common share, for the...
AXA 1H Net up 16% to $4.37 Billion
Aug 13 2007 // France’s AXA Group reported significant earnings increases in all of its business sectors for the first half of 2007, led by a net income gain of 16 percent to €3.2 billion ($4.372 billion). The growth figures,...
Flagstone Re Q2 Net Drops 53% on Flood, Wind Losses
Aug 10 2007 // Bermuda-based Flagstone Reinsurance Holdings Limited had a rough second quarter of 2007 with net earnings down by 53 percent to $14.694 million, compared to $26.905 million in the second quarter of 2006. The...
ABI Estimates UK Flood Losses at $6.1 Billion; Supports Climate Change Bill
Aug 9 2007 // The Association of British Insurers has released new figures on the cost of the June and July floods, and the number of claims received. The ABI broke down the figures as follows: — Total cost: approaching £3...
Fla.-Based AmCOMP Reports Second Quarter 2007 Financial Results
Aug 9 2007 // From North Palm Beach, Fla., AmCOMP Inc., announced results for the second quarter and six months ended June 30. Fred R. Lowe, AmCOMP’s chairman, president and chief executive officer said the company increased net...
