Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
INDUSTRY SEES 1ST 9-MONTH PROFIT SINCE 1986:
Jan 3 2005 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004, up from $20.8 billion in the first...
2003-2004 California Year-End Legislative Repo
Jan 3 2005 // A summary of the most important legislation affecting the industry in the New Year The historic recall of Gray Davis and election of Arnold Schwarzenegger as governor of California set the tone for the 2004 legislative...
NEW ANALYSIS QUESTIONS ASBESTOS FUND REVENUES
Jan 2 2005 // In a new analysis of the $140 billion asbestos trust fund scheme included in S. 852 which was reported out of the Senate Judiciary Committee, the Congressional Budget Office raises doubts over whether the trust fund...
2005 P/C industry in a word: Resilience
Jan 2 2005 // The property/casualty insurance industry reported a statutory rate of return on average surplus of 9.5 percent through the first nine months of 2005, marginally below the 10.5 percent average return recorded during...
Munich Re Estimates Tsunami Claims Below $136 Million
Dec 29 2004 // Munich Re, the world’s biggest reinsurer, has issued a bulletin concerning possible losses from the tidal waves that struck many countries around the Indian Ocean on Dec. 26, which estimates the company’s...
S&P Sees No Effect on Australian Insurers’ Ratings from Tsunami Losses
Dec 29 2004 // Standard & Poor’s Ratings Services has issued a bulletin stating that it does not expect Australian general insurers to be materially affected by the cost of insurance claims arising from the Indian Ocean...
Fitch Sees Tsunami Repercussions Varying Across Insurance Sector
Dec 29 2004 // Fitch Ratings has issued a bulletin indicating that it “expects insured losses stemming from the recent Southeast Asian earthquake and tsunami to affect the Asian primary insurance market and the worldwide...
Best Reports P/C Industry Maintains Underwriting Profit, Despite “Unprecedented Cat Events”
Dec 28 2004 // A.M. Best Co. has released a year-end report on the U.S. P/C industry, which indicates that, “despite the colossal hurricane losses posted during the third quarter of 2004,” it “reported very strong...
U.S.I. Holdings Unveils Expense, Staff Reductions and Plans to Sell Certain Operations
Dec 22 2004 // The directors of U.S.I. Holdings Corporation of Briarcliff, N.Y. have approved a plan to reduce ongoing operating expenses. The plan is expected to result in cost savings of approximately $5 million, before taxes, in...
Swiss Re <em>sigma</em> 2004 Catastrophe Estimates: 21,000 Dead; $105 Billion Economic Loss; $42 Billion Insured
Dec 21 2004 // According to preliminary estimates from Swiss Re’s forthcoming sigma report, more than 21,000 people around the world lost their lives as a result of natural and man-made catastrophes in 2004. Economic losses were...
Banks Cash-In on Acquisitions; Insurance Revenues on Track for Record Year
Dec 20 2004 // Insurance revenue reported to the Federal Reserve by the nation’s bank holding companies grew by $5.0 billion in the first half of 2004 to a level of $20.9 billion, 23 percent higher than at this same time last year,...
Losses, Liabilities & Leftovers
Dec 20 2004 // A drunken Pennsylvania pilot who reportedly buzzed his single-engine plane in close proximity to a nuclear power plant and disrupted the flight paths of half-a-dozen airliners has been sentenced to six to 23 months in...
Losses, Liabilities & Leftovers
Dec 20 2004 // A drunken Pennsylvania pilot who reportedly buzzed his single-engine plane in close proximity to a nuclear power plant and disrupted the flight paths of half a dozen airliners has been sentenced to six to 23 months in...
Industry Sees First 9-Month Net Gain on Underwriting in Nearly Two Decades
Dec 20 2004 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004 from $20.8 billion in the first nine...
INSURERS WELL-POSITIONED TO SHOULDER HURRICANE LOSSES:
Dec 20 2004 // Even with the nearly $21 billion of hurricane-related losses expected to be reflected in the third- and fourth-quarter results, the nation’s property/casualty insurers are well-capitalized and safely positioned to...
P/C INSURERS POSITIONED TO WEATHER HURRICANE LOSSES:
Dec 20 2004 // Even with the nearly $21 billion of hurricane-related losses expected to be reflected in the third and fourth quarter results, the nation’s property/casualty insurers are well-capitalized and safely positioned to...
Is It Time to Sell the Agency’
Dec 16 2004 // The following article was published in Insurance Journal magazine on Dec. 6, 2004 Many owners have at one time or another thought about selling their insurance agency or brokerage. Many were tempted but never quite took...
ELAN Files Calif. Public Records Act Request with Commissioner to Release $4B in Policyholder Losses
Dec 16 2004 // The Executive Life Action Network (ELAN), an activist group of former Executive Life Insurance Co. policyholders, has filed a California Public Records Act (CPRA) request with Insurance Commissioner John Garamendi urging...
Competition and Investigations Are Squeezing U.S. Commercial Lines’ Earnings, Report Says
Dec 7 2004 // U.S. insurers will see their 2004 earnings from commercial lines fall as rate increases peak and legal investigations intensify, according to a report published by Standard & Poor’s. The report, titled...
P/C Insurers Positioned to Weather Hurricane Losses
Dec 7 2004 //
