Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
U.S. P/C INSURERS PAY $2.1 BILLION IN CAT LOSSES
Jul 23 2007 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $2.175 billion for second-quarter property losses resulting from a total of six catastrophes in 25 states — tying the record...
P/C industry net income, overall profitability slips
Jul 23 2007 // The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to...
Calif. workers’ comp earthquake losses could exceed $150 million annually
Jul 23 2007 // California workers’ compensation insurers will need $180 million annually to pay for workers’ compensation losses induced by earthquakes, according to a recently released study by the Workers’...
News Currents
Jul 23 2007 // P/C industry net income, overall profitability slips The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and...
Allstate 2nd Quarter Earnings Rise 16 Percent, Fall Short of Estimates
Jul 20 2007 // Allstate Corp., the nation’s No. 2 property and casualty insurer, said Wednesday its second-quarter profits climbed 16 percent on strong auto insurance sales but operating income fell as the company paid...
FTC Finds Use of Credit Helps Consumers, Insurer Group Says
Jul 20 2007 // The Federal Trade Commission’s (FTC) study of automobile insurers’ use of credit has reaffirmed the strong connection between credit information and the risk of loss and has determined that its use helps to...
Alfa Expects to Report Record Earnings for Q2 2007
Jul 16 2007 // Alfa Corporation announced that it expects operating income for the quarter ended June 30, 2007, to be in a range of $0.40 to $0.44 per diluted share. The results are primarily due to improved underwriting results at the...
Okla. Woman Accused of Committing Fraud with Cattle Loss Claims
Jul 16 2007 // Oklahoma Insurance Commissioner Kim Holland recently announced that department anti-fraud investigators presented an Affidavit of Probable Cause in Pontotoc County alleging Holly Timmons Campbell committed insurance fraud...
Farmers Acquires Right to Use Subordinated Notes for Severe Cat Losses
Jul 12 2007 // Farmers Insurance Group has entered into a committed capital facility providing the company the right to issue $500 million of regulatory capital to cover catastrophic losses over the next five years in the United States....
A.M. Best: P/C Industry Posts 1Q Underwriting Profit
Jul 9 2007 // The U.S. property/casualty industry followed record profits in 2006 with continued favorable trends in first quarter 2007, posting net income after taxes of $16.7 billion. An underwriting gain of $8.0 billion and net...
Poll: Washington Driver Speed Connected to Household Income
Jul 2 2007 // Washington drivers who earn a household income of more than $75,000 are more likely than their counterparts to speed and talk on a cell phone, according to data from a poll conducted by PEMCO Insurance...
Tahoe Fire Losses Could Reach $150 Million, Victims May Be Underinsured
Jul 2 2007 // Insured loss estimates for the Angora Fire burning in Lake Tahoe have been upped to $100 million to $150 million, according to Risk Management Solutions, a Newark, Calif.-based risk modeling company. However, the...
RMS Estimates UK Insured Flood Losses Will Exceed $1 Billion
Jun 29 2007 // Risk Management Solutions has issued a preliminary estimate of the insured losses from the past week’s floods in the UK, indicating that they “could exceed £500 million [$1 billion].” Heavy rainstorms...
P/C Industry Net Income, Overall Profitability Slip in 1Q 2007
Jun 28 2007 // The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to...
Lake Tahoe Fire Estimated to Incur More than $25 Million in Losses
Jun 26 2007 // A wildfire in Lake Tahoe, Calif., that has destroyed at least 220 homes and forced about 1,000 people to flee their neighborhoods along the Lake’s southern edge as of Monday is anticipated to incur more than $25...
Kan. Commissioner Says Insured Storm Losses for May Total $230 Million
Jun 20 2007 // Kansas Insurance Commissioner Sandy Praeger says the 2007 storm season in Kansas so far has accumulated $230 million in losses of insured property and crops during the month of May 2007. “We experienced a terrible...
Indemnity Underwrites Private Company and Not-for-Profit Risks
Jun 20 2007 // Beaverton, Ore.-based Indemnity Excess & Surplus Agency, a professional lines and specialty lines wholesale brokerage firm, is using i-bind technology system to procure management liability insurance for private...
Improving experience modifiers lowers workers’ comp premiums
Jun 18 2007 // Experience rating is the interaction of claims management and insurance pricing. An organization that controls its losses also controls its experience modifier and ultimately is responsible for higher or lower...
Workers’ comp writers report best underwriting results in decades
Jun 18 2007 // The workers’ compensation calendar year combined ratio stands at 96.5 percent — the best underwriting result in at least 30 years and the first underwriting profit for the line since 1995, according to the...
Best Affirms AIG’s ‘Superior’ Ratings
Jun 14 2007 // A.M. Best Co. has affirmed the financial strength ratings of American International Group Inc. and a number of companies that are part of AIG, as follows: — AIG’s life and retirement services subsidiaries...
