Latest Profit Loss Headlines

All the headlines from our Profit Loss Topic Page, ordered by recency.

ISO: U.S. P/C Industry’s First Net Gain on Underwriting Since ’78 Moves Surplus to Record High

Jul 14 2005 // Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three...

House Measure Excludes Mitigation Grants as Income Under Flood Program

Jul 13 2005 // The U.S. House of Representatives has passed a measure to exclude from consideration as income certain payments under the National Flood Insurance Program (NFIP). Introduced by Capital Markets, Insurance, and Government...

Ohio State Senator Says Explanation of Comp Fund Losses ‘Defies Credibility’

Jul 12 2005 // Someone in state government had to know that its insurance fund for injured workers was making bad investments, with losses now at $300 million from four accounts, a leading critic of Ohio Gov. Bob Taft’s handling of...

Hurricane Dennis’ Insured Losses Estimated to Reach $2.5 Billion

Jul 10 2005 // AIR Worldwide estimates insured losses in the United States from Hurricane Dennis will be between $1 billion to $2.5 billion. Although Dennis made landfall in the same region as Hurricane Ivan in 2004, insured losses from...

XL Expects Negative Q2 Results Following Reserve Strengthening

Jul 8 2005 // Bermuda’s XL Capital Ltd. has announced today that its second quarter 2005 results will be adversely impacted by an increase in net reserves in its North American reinsurance operations of $191 million...

U.K.’s Pool Re Covers Blast Losses

Jul 8 2005 // Yesterday’s devastating bomb blasts in London, which killed at least 37 people and injured over 700, also caused substantial damage to London’s transport system as well as related property damage. Questions...

Aim for the Bull’s Eye: Focus on Market Characteristics Improves Programs

Jul 7 2005 // The following article was published in Insurance Journal’s July 4 issue focusing on Target Markets Program Administrators Association and the program marketplace. The value of specialization and target marketing in...

ISO: Insurers’ $920M CAT Losses is Lowest for Q2 in a Decade

Jul 6 2005 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $920 million for second-quarter insured property losses from four catastrophes in 25 states — the lowest tally among second...

Aim for the Bull’s Eye: Focus on Market Characteristics Improves Programs

Jul 4 2005 // Drilling Down into a Market’s Data Unearths Insights Conventional Methods Miss The value of specialization and target marketing in improved insurance performance has been well proven over the past 15-plus years....

Making the Grade in Agency Diagnostics

Jul 4 2005 // As individuals, the easiest way to see how well you are performing is to compare yourself to others. We all do it from time to time. Likewise, with businesses, comparisons are a very useful tool to check performance. The...

What is Finite Risk Reinsurance? A Definitive Explanation

Jul 4 2005 // Recent insurance industry investigations have begun to put prior finite reinsurance transactions under a microscope, creating the need to re-examine this reinsurance product, but more importantly determine its role in the...

Small Business Owners Face Gaps, Confusion Over Insurance Problem

Jul 4 2005 // Many U.S. small business owners face a major gap in their insurance coverage or do not fully understand coverage they have, a new national survey conducted by Trusted Choice finds. Trusted Choice agencies are insurance and...

Small Business Owners Face Gaps, Confusion Over Insurance Problem

Jul 4 2005 // Many U.S. small business owners face a major gap in their insurance coverage or do not fully understand coverage they have, a new national survey conducted by Trusted Choice finds. Trusted Choice agencies are insurance and...

Best Affirms White Mountains Operating Subsidiaries Ratings

Jul 1 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings (FSR) and the issuer credit ratings (ICR) of the major operating companies of the Bermuda-based White Mountains Insurance Group Ltd. Best rated...

Slayter to Head Loss Control for RiskProNet

Jul 1 2005 // Bruce Slayter, the managing director of risk management services for Chicago-based broker Mesirow Financial has been named chair of the first loss control practice group for RiskProNet International Inc., a network of 28...

ABI Study Finds “Extreme Weather” Could Raise Losses to $27 Billion

Jun 30 2005 // The Association of British Insurers (ABI) has released a ground-breaking report, “Financial Risks of Climate Change,” which shows that the worldwide costs of major storms is likely to increase by as much as...

Best Affirms Ratings of Mapfre Mutualidad and Affiliates

Jun 30 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of the Spanish insurance group Mapfre Mutualidad de Seguros y Reaseguros, the ultimate parent of the Mapfre Group...

Treasury Report on Terrorism Insurance: Exec Summary

Jun 30 2005 // The following is the Introduction and the Executive Summary of the June 30, 2005 report from the Treasury Department on the Terrorism Risk Insurance Act of 2002 including its assessment of the act and recommendations for...

S&P Reports on Increased Cat Loss Potential, Modeling

Jun 28 2005 // Standard & Poor’s Ratings Services has issued a new report – “Reinsurance Criteria: Larger Losses And Better Modeling Prompt Changes To Property Catastrophe Criteria-” that examines the upsurge...

N.Y. Court Upholds Empire Blues Conversion to Profit Corporation

Jun 21 2005 // New York’s highest court has dismissed an attempt to block the plan to convert Empire Blue Cross and Blue Shield into a for-profit company. The planned conversion is projected to provide the state with as much as $4...