Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Amlin 1st Half Profits Up 56% to $247 Million; $110 Million Katrina Loss Estimate
Sep 6 2005 // Amlin, Plc, a leading Lloyd’s insurer, announced record results for the period ending June 30, 2005 with net profits up 56 percent to 134.1 million pounds ($247 million), more than it made for all of last year. The...
Ace Europe Expands IT Loss Protection
Sep 6 2005 // The ACE European Group announced the launch of “Computerguard,” which it described as “the latest in its suite of loss protection products to cover financial losses relating to IT hardware and system...
EMC Predicts Katrina Share Losses
Sep 6 2005 // EMC Insurance Group Inc., Des Moines, Iowa, expects losses associated with Hurricane Katrina to range from $0.28 to $0.32 per share. Losses in the property and casualty insurance segment are expected to range from $3.4...
Got Dispensable Income? The GLBTs Do!
Sep 5 2005 // Tap into this potentially lucrative marketplace with a little gay-friendly marketing …. Why should you target the GLBTpopulation? The GLBT (gay, lesbian, bi-sexual and transgender) population is a powerful, emerging...
Shortcomings of Current Premium Invoice Accounting
Sep 5 2005 // California Insurance Code requires P/C insurance agencies to receive premium funds in a fiduciary capacity. Producer agencies are allowed to transfer earned commissions upon receipt of premium payments. Due to the...
Valuations: Educating Your Client on True Replacement Cost
Sep 5 2005 // There are two calls that an agent or broker might receive that should raise concerns; the first is a call from the IRS audit department and the other is from an insured who says, “I just had a fire.” The reason...
Insurers Address Brokerage Income Directly to Consumer
Sep 5 2005 // Just last week, one of the assistant directors at our firm, Brunie Lugo, was routinely reviewing a client’s renewal quotation she had received, checking it for accuracy, reviewing the pricing and proposed renewal...
Small Business Units Deliver Bread n’ Butter for Peak Performing Agencies
Sep 5 2005 // In the movie “City Slickers,” Billy Crystal’s character is taught he must understand “one thing” that will make his life complete. Along the way he meets a grey-haired cowboy who appears to...
Strategies to Tap into Profitable, New Business Accounts
Sep 5 2005 // Developing new business is an integral part of every insurance agent’s regimen. There are endless ways to go about looking for new business, however, successful agents know how to focus their efforts to engage in the...
‘Sham Declinations’ Leave N.Y. Excess Broker Liable for Insurer’s Losses
Sep 5 2005 // A New York excess lines insurance broker’s use of “sham declinations” to skirt the law on placing coverage with a non-admitted carrier could cost the broker a lot more than just regulatory fines, if a...
Small Business Units Deliver Bread n’ Butter for Peak Performing Agencies
Sep 5 2005 // In the movie “City Slickers,” Billy Crystal’s character is taught he must understand “one thing” that will make his life complete. Along the way he meets a grey-haired cowboy who appears to...
Strategies to Tap into Profitable, New Business Accounts
Sep 5 2005 // Developing new business is an integral part of every insurance agent’s regimen. There are endless ways to go about looking for new business, however, successful agents know how to focus their efforts to engage in the...
Insurers Address Brokerage Income Directly to Consumer
Sep 5 2005 // Some Carriers Issue Endorsements on Producer Compensation Disclosure Just last week, one of the assistant directors at our firm, Brunie Lugo, was routinely reviewing a client’s renewal quotation she had received,...
RMS Revises Hurricane Katrina Loss Estimate to $20-$35 Billion
Sep 4 2005 // Risk Management Solutions (RMS) increased its estimated insured losses forecast for Hurricane Katrina’s direct impact to $20-$35 billion late last week. When Katrina’s landfall, RMS released a preliminary...
Hannover Re Estimates Katrina Losses at $314 Million; Lowers 2005 Forecast
Sep 2 2005 // Germany’s Hannover Re has issued a statement indicating that it will be “heavily impacted by Hurricane ‘Katrina.'” It estimates net losses before tax at around $250 million euros ($314 million), but...
RMS Totals Economic Loss for Katrina at $100 Billion+
Sep 2 2005 // Risk Management Solutions announced that the economic loss from Hurricane Katrina and subsequent flooding in New Orleans is expected to exceed $100 billion. Losses are resulting from two separate catastrophic events:...
Fitch: Katrina May be Most Costly U.S. Insured Loss Ever
Sep 2 2005 // Fitch Ratings on Friday updated its analysis of Hurricane Katrina. The range of estimated insured losses continues to be very wide and Fitch believes it will be a long time before these estimates are refined. Nonetheless,...
S&P Puts OIL’s ‘A+’ Ratings on Credit/Watch-Negative
Sep 1 2005 // Standard & Poor’s Ratings Services has registered a quick reaction to the ravages of Hurricane Katrina on the petroleum industry. S&P announced that it has placed its “A+” counterparty credit...
Alea Group 1st Half Profit Off 47% to $25.9 Million
Sep 1 2005 // The Bermuda-based Alea Group announced that its first half profits suffered a 47 percent decline to $25.9 million, compared to $48.8 million in the same period of 2004, due mainly to total reserve increases of $34.7...
Vesta Insurance Forecasts $500k to $1.2M Katrina Losses
Sep 1 2005 // Preliminary gross income losses of from $500,000 to $1.2 million have been predicted by the Vesta Insurance Group of Birmingham, Ala. for damages caused by Hurricane Katrina. Vesta’s Florida Select unit has about...
