Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Best Takes Various Rating Actions in Wake of Katrina
Sep 15 2005 // Due to the evolving effects of Hurricane Katrina, A.M. Best Co. has been aggregating public and private information in order to assess the financial impact it will have on insurers. A.M. Best expects all rated companies...
AXA RE Estimates Impact of Hurricane Katrina Losses at $200 Million
Sep 15 2005 // AXA RE, the active reinsurer of France’s AXA Group, said the impact from Hurricane Katrina will probably result in total net losses of approximately $200 million before tax. “This estimate is net of reinsurance...
Transatlantic Estimates Katrina Losses at $270 Million
Sep 15 2005 // Transatlantic Holdings Inc. (TRH) announced that its preliminary estimate of the pre-tax cost, net of reinsurance, of Hurricane Katrina will be around $270 million, or $176 million on an after-tax basis for the full year...
Everest Re Group Puts Katrina Loss Estimates at 1% of Industry Total
Sep 14 2005 // Everest Re Group Ltd. announced from its Bermuda headquarters that its losses from Hurricane Katrina could amount to approximately one percent of the total insurance industry losses. This would put the estimates in the...
XL’s Katrina Net Losses 1.75% of Industry Totals (Around $700 Million)
Sep 14 2005 // Bermuda-based XL Capital Ltd. announced that, based on initial analyses performed by the Company and preliminary estimates received to date, its “net losses (excluding net reinstatement premiums) relating to...
Endurance Estimates Net Katrina Losses Between $375-$450 Million
Sep 14 2005 // Bermuda-based Endurance Specialty Holdings Ltd. said its initial estimates of losses, net of reinsurance, reinstatement premiums, and tax benefits, related to Hurricane Katrina are between $375 and $450 million. The...
Republic Reports on Losses from Hurricane Katrina
Sep 14 2005 // Republic Companies Group Inc., headquartered in Dallas, released information regarding its response to Hurricane Katrina and the financial effects of this Category 4 hurricane on the third quarter results of Republic. In...
HCC Estimates Katrina Loss at $160M
Sep 14 2005 // HCC Insurance Holdings Inc. announced that anticipated claims from Hurricane Katrina are expected to result in the company’s largest gross loss in its history, estimated at $160 million arising from aviation, onshore...
Fitch Moves 5 Insurers to Rating Watch Negative Following Katrina
Sep 13 2005 // Fitch Ratings has placed the ratings of five North American property/casualty insurance and reinsurance organizations on Rating Watch Negative Tuesday based on potential large loss exposures to Hurricane Katrina. The...
White Mountains Katrina Losses in $150-$300 Million Range – Pretax
Sep 12 2005 // White Mountains Insurance Group, Ltd. announced from its Hamilton, Bermuda headquarters, that it estimates “total net losses resulting from the impact of hurricane Katrina on its insurance and reinsurance operations...
AXIS Says Hurricane Katrina Losses ‘Within Current Expectations’
Sep 12 2005 // Bermuda-based AXIS Capital Holdings Limited gave no figures for its estimated net losses from Hurricane Katrina, but indicated that they “are estimated to be within its current expectations of consolidated operating...
S&P Puts 10 Insurers on “Katrina” CreditWatch/Negative
Sep 12 2005 // Standard & Poor’s Ratings Services announced that it has placed its ratings on 10 interactively rated insurance and reinsurance groups on CreditWatch with negative implications due to their possible...
Kiln plc Offers Possible Katrina Impact
Sep 9 2005 // The U.K.’s Kiln plc, a leading Lloyd’s insurer, has issued a preliminary estimate of the possible impact on the company from losses related to Hurricane Katrina. “The loss falls principally on...
Aspen Estimates Katrina-New Orleans Flood Losses at $150 Million
Sep 9 2005 // Bermuda-based Aspen Insurance Holdings Limited announced its initial assessment of the losses sustained from Hurricane Katrina and the “Great New Orleans Flood” would be approximately $150 million. In...
New Orleans Flood Adds $15-$25B in Hurricane Katrina Insured Losses; Total Estimated Losses Rises to $40-$60B
Sep 9 2005 // Risk Management Solutions now estimates that insured losses from Hurricane Katrina are expected to be $40-$60 billion, of which $15-$25 billion are related to the Great New Orleans Flood. Total economic losses may now...
Wellington 1st Half Net Up 78% at $105 Million; Katrina Losses $75 Million
Sep 8 2005 // The U.K.-based Wellington Plc, which operates both in the Lloyd’s market and as a general insurer with several U.S. subsidiary companies, posted impressive first half results with net pre-tax profits up 78 percent to...
Zurich Estimates $100 Million in European Flood Losses; No Estimate Yet on Katrina
Sep 8 2005 // The Zurich Financial Services Group has issued a statement that, based on preliminary estimates, “it expects aggregate claims payments related to the recent floods affecting Switzerland, southern Germany and Austria...
New Report Warns of Rising Threat to Industry from Climate Change
Sep 8 2005 // Hurricane Katrina is a reminder to the U.S. insurance industry, companies, governments and the general public that all are at risk from escalating losses from hurricanes and other weather-related events due to climate...
Brit Announces Record 1st half Results; Industry Katrina Loss $50 Billion
Sep 7 2005 // Brit Insurance Holdings PLC, a U.K.-based Lloyd’s and general insurer, posted record 1st half pre-tax profits of 112.2 million pounds ($207 million), up 61 percent from the same period last year. Brit indicated that...
AXA 1ST Half Group Net Income Up 31% to $2.8 Billion; No Significant Effect from Katrina
Sep 7 2005 // France’s AXA Group said in a “pre-release” statement that its net profits for the group rose by 31 percent for the period ended June 1, 2005 to 2.274 billion euros ($2.844 billion), compared to 1.733...
