Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Unitrin Estimates Less Than $10 Million in Charley, Frances Losses
Sep 20 2004 // Chicago-based insurer Unitrin Inc. announced that it expects that its net losses resulting from both Hurricanes Charley and Frances combined will be less than $10 million after-tax. Unitrin had previously disclosed that...
CAT Modelers: Ivan’s Estimated Losses Up to $10B
Sep 20 2004 // Initial estimated insured losses from Hurricane Ivan range from about $2 billion to about $10 billion, according to catastrophe modelers Eqecat, Inc. The estimated range of insured losses takes into account Category 3...
Safeco Estimates Losses from Hurricane Frances
Sep 20 2004 // Seattle-based Safeco announced that its pretax catastrophe losses stemming from Hurricane Frances are estimated at $28 million. This figure represents the estimated losses both from claims received through Sept. 20, 2004...
Profit Center Accounting
Sep 20 2004 // Is personal lines costing the agency money? How profitable is that new program business the agency is promoting? What would happen to the bottom line if employee benefits sales increased by 25 percent? When is it time to...
Converium’s Conundrum: Reserve Requirements Hit Reinsurer
Sep 20 2004 // When Zurich Financial Services (ZFS) spun off its reinsurance operations into Converium in September 2001, the new company had a bright future. Initial capitalization exceeded $1.6 billion; ZFS had agreed to retain...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Growth Determines Retail, Wholesale Broker’s Value
Sep 20 2004 // Sustaining Progress in a Changing Rate Environment The wind has been at the back of insurance agents and brokers for the past several years and has resulted in smooth sailing. Organic growth rates have been in double...
IAIABC Panel Takes Fresh Look at Terrorism
Sep 20 2004 // In a code orange New York, the International Association of Industrial Accident Boards and Commissions (IAIABC) took a fresh look at terrorism and its relation to workers’ compensation at its recent 90th Annual...
WCIRB Summary of March 31, 2004 Insurer Experience
Sep 20 2004 // The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) completed its initial review of March 31, 2004 experience submitted by insurers. This summary is based on data reported to the WCIRB by insurers...
RMS: Potential Losses for Hurricane Ivan, $2 to $7 Billion
Sep 17 2004 // Risk Management Solutions (RMS), reported that insured losses from Hurricane Ivan in the U.S. are likely to range from $2 to $7 billion, based on updated information on landfall location and wind speeds. Additional insured...
Fitch Estimates Ivan May Become Second Costliest Hurricane For U.S. P/C Insurers
Sep 17 2004 // Chicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan’s destructive rampage through Alabama, Florida and other Gulf Coast States. Fitch noted that...
AFG Estimates $4 Million in Frances Losses
Sep 16 2004 // Cincinnati-based American Financial Group Inc. said it estimates that its after-tax losses related to Hurricane Frances, net of reinsurance, will be about $4 million, or 5 cents per share. The company currently estimates...
RMS: Potential Losses for Ivan $4 to $10 Billion
Sep 15 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, said that insured losses in the U.S. could range from $4 to $10 billion if Hurricane Ivan follows the latest...
Higher Deductibles 1 Way to Ease Homeowners Crisis, Argues Big I Report
Sep 14 2004 // Why has the hard market created a homeowners insurance affordability and availability problem for so many consumers? Homeowners insurance policies are too broad, deductibles are too small, and insurers don’t do...
PMA Group Enhances Web site Loss Reporting
Sep 14 2004 // The PMA Insurance Group has introduced an upgrade to its Web site functionality. As of Sept. 1, PMA clients have the option of reporting all lines of PMA claims electronically through the Internet. The new Internet Loss...
Platinum Puts Frances Losses at $25 to $40 Million
Sep 13 2004 // Bermuda-based Platinum Underwriters Holdings, Ltd. announced that on the basis of currently available information, it estimates that after-tax losses from Hurricane Frances, net of reinstatement premiums, will range from...
EQECAT Says Ivan Landfall Would Be a ‘1 in 50 Year’ Series of Storm Events
Sep 10 2004 // It may come as small comfort to Florida’s storm-battered residents, but Thomas Larsen, senior vice president of EQECAT Inc., the Oakland Calif.-based catastrophe modeling specialist, announced that a Florida landfall...
The Midland Co. Projects Frances Losses
Sep 10 2004 // The Midland Company, an Ohio-based provider of specialty insurance products and services, today reported projected losses from Hurricane Frances. “Based on the information received to date, we expect to incur pre-tax...
AIR Worldwide Reports Fla. Losses at $5 Billion to $10 Billion from Frances
Sep 9 2004 // While significantly less intense than Hurricane Charley in terms of sustained wind speeds at landfall, AIR Worldwide estimates that total insured losses for Florida from Frances will fall within a very similar range:...
Sunshine State Insurance Co. Reports Frances Losses in Area of $700,000
Sep 8 2004 // Florida-based Sunshine State Insurance Company announced its preliminary estimates of net losses related to Hurricanes Charley and Frances. While it is too early to estimate such losses precisely for these recent...
