Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Frances Crosses Florida Panhandle; RMS Loss Estimate $3 to $6 Billion
Sep 7 2004 // A greatly diminished tropical depression Frances came ashore in the Florida Panhandle early Monday night. With winds down to around 35 mph (56 km/hr), Frances posed more of a threat from heavy rainfall, surging tides and...
21st Century Notes Frances Losses
Sep 7 2004 // Florida-based 21st Century Holding Co. has reported losses related to Hurricane Frances which made its way through the Sunshine State in recent days. Edward (Ted) Lawson, president and chairman of the Board of 21st Century...
Vesta Insurance Group Notes Frances Sub Losses
Sep 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its Florida Select subsidiary expects to incur losses between $5.0 and $10.0 million, net of reinsurance, from Hurricane Frances. In addition, the company has...
Charley Causes a Path of Destruction in Florida, Carolinas
Sep 6 2004 // Lessons from Andrew Taught Industry to “Be Prepared” Lessons learned from the most costly natural disaster in U.S. history more than prepared the insurance industry for the destruction left by Hurricane...
SAFECO ESTIMATES LOSSES FROM HURRICANE CHARLEY:
Sep 6 2004 // Seattle-based Safeco announced that claims stemming from Hurricane Charley are estimated at $45 million in pre-tax catastrophe losses. This figure represents the estimated losses both from claims received through Aug. 24,...
St. Paul Travelers: Charley Losses at About $140 Million
Sep 3 2004 // The St. Paul Travelers Cos. announced today that it estimates losses from Hurricane Charley to be about $140 million, after tax and reinsuranc. St. Paul Travelers’ commercial book of business saw about $79 million in...
RMS Estimates Potential Losses Ranging from $2 to $20 Billion for Hurricane Frances
Sep 3 2004 // Risk Management Solutions (RMS) has announced that potential insured losses could range from $2 to $20 billion based on the latest forecasts for Hurricane Frances. Uncertainty in the storm’s track and intensity...
Allstate Estimates Charley Losses at $425 Million
Sep 1 2004 // The Allstate Corporation, the second largest U.S. writer of homeowners’ policies, announced that its pre-tax catastrophe losses related to Hurricane Charley are preliminarily estimated to be approximately $425...
Mass. Attorney General, Trial Bar, State Bureau Criticize 9.3% Auto Insurance Rate Request
Sep 1 2004 // A request by Massachusetts agents for a 32 percent boost in commissions brings the overall private passenger auto insurance rate hike sought by the industry for 2005 to 9.3 percent, up from the original 5.8 percent figure,...
3 More Midwest Insurers Issue Charley Loss Estimates
Aug 31 2004 // Three more insurers issued their loss estimates related to Hurricane Charley, which hit the Southeastern United States three weeks ago. Springfield, Ill.-based insurer Horace Mann Educators Corp. estimates its financial...
