Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Swiss Re, Munich Re Raise Catastrophe Loss Estimates
Sep 21 2001 // The world’s two largest reinsurance companies, Swiss Re and Munich Re, have practically doubled their estimates of potential losses and have lowered their earnings forecasts as a result of the terrorist attacks in...
Kemper Estimates Net Losses from Sept. 11 Terrorist Attacks to be $60M-$80M
Sep 21 2001 // The Kemper Insurance Companies announced that it expects its pre-tax losses from the Tuesday, Sept. 11 terrorist attack to be $60 million to $80 million, net of reinsurance arrangements. David B. Mathis, Kemper chairman...
Harleysville, NYMAGIC Estimate Terrorist Attack Losses – Chubb , Fitch Opinions
Sep 20 2001 // Pennsylvania-based Harleysville Group Inc. and New York’s NYMAGIC, INC. indicated that they anticipated minimal exposure following last Tuesday’s terrorist attacks, while officials of Chubb and Fitch gave...
AEGON Sees Attack Losses Below $50 Million, Less Impact on Earnings
Sep 20 2001 // The Dutch insurer and financial services group AEGON NV, the parent company of Transamerica, said that it expected losses from the September 11th attacks in the U.S. to be under $50 million, and to have an impact on its...
The Hartford Estimates Losses from Terrorist Attack Could Approach $450M
Sep 20 2001 // The Hartford Financial Services Group Inc. announced that expected losses from the Sept. 11 terrorist attack could approach $450 million after taxes and net of reinsurance, reflecting the company’s best current...
The Midland Company to Cease Offering Commercial Liability Coverage
Sep 20 2001 // The Midland Company, a provider of specialty insurance products and services, announced that American Modern Insurance Group, its insurance subsidiary, will cease offering the commercial liability coverages associated with...
Liberty Mutual Group Expects $200M-$300M Loss from Terrorist Attacks
Sep 20 2001 // Liberty Mutual Group announced it expects net after-tax loss for the company’s U.S. and global operations will be in the range of $200 to $300 million from the Sept. 11 terrorist attacks. The company is prepared to...
Liberty Mutual, Hartford Confirm Estimates of Terrorist Attack Losses
Sep 19 2001 // Two of New England’s largest insurers, Boston’s Liberty Mutual, and The Hartford confirmed pervious announcements concerning their potential loss exposures from the terrorist attacks on the World Trade Center...
Fitch Assesses Insurer/Reinsurer Loss Exposures to U.S. Attacks
Sep 19 2001 // Fitch announced that, while it is too soon to draw solid conclusions, it believes that a vast majority of the insurers and reinsurers it rates will be able to absorb any losses without material damage to their financial...
Ohio Casualty Corporation Announces Preliminary Estimate on Attack Losses
Sep 18 2001 // Fairfield, Ohio-based Ohio Casualty Corporation Friday announced a preliminary estimate of its expected losses resulting from the New York terrorist attack Sept.11. The estimated pre-tax cost of claims is $5 to $7 million,...
QBE Expects Large Losses from U.S. Disaster
Sep 18 2001 // Australia’s QBE has acknowledged that it stands to be hit hard by disaster losses in the U.S. after last Tuesday’s terrorist attacks. As yet it’s released no figures, but has said that the losses would be...
Lloyd’s Assures on Losses, Sees War Risk
Sep 18 2001 // Lloyd’s announced that it had completed a preliminary assessment of the possible losses from last Tuesday’s terrorist attacks in the U.S., and although it gave no specific figures, it stated that “these...
Bermuda Reinsurers Preliminary Loss Estimates from Terrorist Attacks
Sep 17 2001 // A number of Bermuda-based insurers have extended their condolences to the families of victims of the terror attacks on the World Trade Center and the Pentagon. Bermuda’s two largest insurers, ACE and XL, made...
AIG Issues Preliminary Estimate of Losses Resulting from Terrorist Attacks By Charles E. Boyle Sep
Sep 17 2001 // By Charles E. Boyle The events of Sept. 11 shook the foundations of the American financial community, and industry giant American International Group is one of many shaken by the tragedies. AIG has issued a preliminary...
S&P: Insurance Industry Not Crippled by WTC Attack
Sep 17 2001 // Standard & Poor’s announced that the direct financial losses relating to the disasters will in all likelihood exceed the largest insured losses ever yet seen. “Any attempt to quantify the financial impact...
HCC Comments on WTC Tragedy, Anticipated Impact on 3Q Results
Sep 17 2001 // Stephen L. Way, chairman and CEO of HCC Insurance Holdings Inc., in commenting on Tuesday’s disaster, said, “Most importantly, let me state that all of us at HCC send our thoughts and prayers to all the...
Terrorist Attack Paralyzes Economy; Insurers Face Largest Catastrophe Ever
Sep 17 2001 // The coordinated terrorist attacks in New York’s lower Manhattan and Washington, D.C., last week targeted indisputable symbols of American prestige and military power: the World Trade Center and the Pentagon. The...
Hollywood and The Insurance Industry
Sep 17 2001 // Once upon a time in a country far, far away, a few visionaries (and yes, a few con artists) laid the foundations of the multi-billion dollar motion picture industry. It required taking considerable risks, and still does....
Nonprofits Especially Need Protection Against D&O Liability Risks
Sep 17 2001 // Although Directors’ and Officers’ liability insurance (D&O) often is associated with large for-profit companies, they are not the only ones that need it. Many people hold the common misperception that...
Study Says Insurers at Risk for Losses from Cyber-Security Breaches
Sep 17 2001 // Sloppy cyber-security practices in the online distribution of policies and services may leave insurers, their business partners and their customers vulnerable to massive losses. In addition, insurers are potentially...
