Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lloyd’s Puts Losses from U.S. Disasters at
Sep 27 2001 // Lloyd’s of London said Tuesday that it had completed a review of the potential loss liabilities from more than 100 of its 108 active underwriting syndicates and estimated that its overall net exposure from the...
Toulouse Explosion Losses May Total $840 Million
Sep 27 2001 // AGF, the French insurance arm of Germany’s Allianz, announced that it expected total loss exposure from the explosion last Friday of a chemical factory in the Southwestern city of Toulouse to be between € 610...
Hiscox Estimates Loss from U.S. Attacks at
Sep 26 2001 // The U.K.’s Hiscox Plc, which writes business through the Lloyd’s market and independently, released its estimate that the Sept. 11 attacks in the U.S. would cost it around £20 million ($29.25...
Phoenix Sets Loss Figures, Confirms Claims Procedures
Sep 26 2001 // The Phoenix Companies of Hartford confirmed that the Group expected losses from the September 11 attacks of around $5 million net of reinsurance, and detailed a number of expedited procedures to help customers affected by...
Fitch Completes Ratings Analysis Following Terrorist Attacks
Sep 26 2001 // Fitch completed the initial phase of its ratings review of insurance and reinsurance companies exposed to losses from the terrorist attacks of Sept. 11 in the United States. Findings have been issued on 16 insurance...
Baldwin & Lyons Inc. Reports Losses Relating to World Trade Center
Sep 26 2001 // Indianapolis-based Baldwin & Lyons Inc., through its subsidiary, Protective Insurance Company, assumes reinsurance from other insurance and reinsurance companies. As a result of the terrorist attacks on the World...
ACE Increases Loss Estimates from Terrorist Attacks
Sep 25 2001 // Bermuda’s ACE Ltd. increased its estimates of anticipated losses from the terrorist attacks in the U.S. from $400 million to $550 million, citing additional reinsurance claims as the principal factor. The...
Navigators Estimates Losses from Terrorist Attack
Sep 25 2001 // The Navigators Group Inc. estimates its after tax net loss from the September 11th terrorist attack on the World Trade Center to be approximately $5 million. The loss comes primarily from business underwritten at the...
The St. Paul Cos. Expects Net Pretax Losses of $700M from Attacks
Sep 24 2001 // The St. Paul Companies announced that the terrorist attacks of Sept. 11 will likely result in estimated net pretax losses of approximately $700 million to the company from its U.S. primary insurance, reinsurance and...
A.M. Best Expects Industry Losses to Exceed
Sep 24 2001 // Billion Although it is still too early to predict the financial impact of Sept. 11’s tragic events, A.M. Best Company stated last week that insurance industry losses are likely to exceed $30 billion, making this the...
The Role of Reinsurance in the World TradeCenter Attacks
Sep 24 2001 // The business of reinsurance is a comparatively small but integral part of the overall insurance industry. Simply defined, reinsurance is transacted on the basis of one insurance company, the “reinsurer,”...
Cost of Business Interruption Claims from Terrorist Attacks May Take Months to Determine September
Sep 24 2001 // The large number of businesses affected by the terrorist attacks combined with the length of time it will take to repair the damages means that it may take several months before an accurate estimate on business...
CNA Sees Pre-Tax Losses of Up to $350 Million
Sep 24 2001 // Chicago-based CNA Financial Corp., the No. 2 U.S. business insurer, said its losses from the Sept. 11 attacks on the World Trade Center and the Pentagon could reach $350 million on a pre-tax basis. CNA said the projected...
Trade Center Attack, Acquisitions, Economy to Test AIG
Sep 24 2001 // The events of Sept. 11 shook the foundations of the entire American financial community, and American International Group was no exception. Ironically, AIG had already had a very busy month. In Korea, it looked set to...
SAFECO Notes Losses of $25M Due to Tragedy
Sep 24 2001 // SAFECO stated on Sept. 20 that its primary insurance lines will likely incur losses of $25 million due to the Sept. 11 attacks that destroyed the World Trade Center and part of the Pentagon. The Seattle-based company,...
True Loss from Sept. 11 Terrorist Attacks on U.S. is Immeasurable, As Estimates of Potential Insured
Sep 24 2001 // “The World Trade Center is a living symbol of man’s dedication to world peace, his belief in cooperation of men and, through cooperation, his ability to find greatness.” —Minoru Yamasaki (1912-1987),...
Philadelphia Consolidated Sees Minimal Losses from Sept. 11 Attacks
Sep 24 2001 // Philadelphia Consolidated Holding Corp.(PCHC) of Bala Cynwyd Penna. announced that the it expected net pretax losses resulting from the terrorist attacks on the World Trade Center to be between $1.5 and $2...
AXA, Allianz Raise U.S. Attack Loss Estimates, New Disaster in France
Sep 24 2001 // Both France’s AXA Group and Germany’s Allianz AG, the world’s two largest insurance groups, raised their original estimates of potential losses from the terrorist attacks of Sept. 11 in the U.S. (See IJ...
Chubb Estimates $500-$600 Million in Losses from Terrorist Attacks
Sep 21 2001 // Warren, N.J.-based Chubb Corp. announced that it anticipated losses from the terrorist attacks of September would amount to between $500 and $600 million pre-tax, net of reinsurance. The figures, which include the...
More Lloyd’s Insurers Estimate U.S. Losses
Sep 21 2001 // Several more Lloyd’s insurers have recently announced the potential impact their underwriting syndiactes face following the terrorist attacks in the U.S. Chaucer Holdings, Plc announced that it expected to incur...
