Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Moody’s, S&P, A.M. Best Release Ratings for AIG After Strategic Plan Outlined
Jan 28 2016 // American International Group Inc., which activist investor Carl Icahn is pressuring to divest assets, had the outlook on its credit rating changed to negative from stable by Standard & Poor’s after the insurer...
Record Western Wildfires a Contrast in Otherwise Quiet Year for U.S. Natural Disasters
Jan 28 2016 // It was a relatively quiet year for natural disasters – except for those living in the Western U.S. Property data provider CoreLogic today released its annual Natural Hazard Risk Summary and Analysis. The report shows...
New Travelers CEO Schnitzer Stresses Continuity, Innovation in Earnings Call Debut
Jan 28 2016 // The Travelers Companies held its first earnings call under new CEO Alan Schnitzer on Jan. 21 with the property/casualty carrier’s executives putting forth a message of continuity and normalcy, even in the face of a...
‘Old’ ACE, Chubb Report Q4, Full Year 2015 Results
Jan 27 2016 // Just shy of two weeks after closing on their merger, ACE Ltd. and Chubb Corp. released financial results for their last quarter and year as separate entities. On January 14, 2016, ACE closed on its acquisition of Chubb...
Texas Led Nation in Catastrophic Losses in 2015
Jan 26 2016 // Tornadoes, hailstorms and fires took their toll on Texas last year with insured losses well over $3 billion, according to an insurer trade group The state had over three times as many claims and almost three times the...
Report: East Coast Blizzard to Cause Multi-Billion Dollar Economic Losses
Jan 25 2016 // Massive blizzards that paralyzed much of the U.S. East Coast in the past few days are likely to cause “multi-billion” dollar economic losses in one of the worst storms in the region in over a century,...
Zurich’s Ratings Remain Unchanged Despite Projected Q4 2015 Losses: A.M. Best
Jan 25 2016 // The financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of Zurich Insurance Co. Ltd. (ZIC) and its rated affiliates are unchanged, following Zurich Insurance Group’s...
China’s Insurers Received Premium Income of $365 Billion in 2015
Jan 25 2016 // The premium income received by China’s insurance firms hit 2.4 trillion yuan ($364.85 billion) in 2015, the industry regulator said on Monday. This means insurance premium income rose 20 percent last year from 2014,...
Citizens Releases Analysis of Increasing Florida Water Loss Costs
Jan 25 2016 // Water loss claims, exacerbated by assignment of benefits, are driving higher rates in South Florida and increasingly across the state, according to a just released analysis conducted by Citizens Property Insurance Corp....
8 Industry Trends to Exploit for 2016
Jan 25 2016 // It is time to put on the thinking cap and roll up the sleeves to determine what needs to be done to put the firm in a great position for growth and profit in 2016. Those that like to be proactive by being strategic and...
Risk Strategies Hires Landry as Loss-Control Engineer in Boston
Jan 22 2016 // Risk Strategies Company, a privately held, national insurance brokerage and risk management firm, has hired Amy M. Landry as a property loss-control engineer. Landry is based in Risk Strategies’ Boston headquarters...
Texas Supreme Court: Loss-of-Use Damages Allowed in Total Loss Cases
Jan 21 2016 // Are loss-of-use damages, such as lost profits, allowed in Texas when an insured has recovered fair market value on a commercial vehicle that is deemed a total loss after an accident? The Texas Supreme Court thinks so,...
Travelers’ Q4 Profit Takes Hit
Jan 21 2016 // Travelers Cos., the only property-casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit fell 17 percent as investment income declined on low bond yields and valuations for energy-related...
Update: Zurich Insurance Group Expects Q4 2015 Loss in General Insurance
Jan 20 2016 // Zurich Insurance Group AG fell to the lowest in more than three years after Switzerland’s biggest insurer put shareholders on notice that it expects a second straight quarterly loss in its general insurance...
Farmers Insurance Estimates Loss from South Central Storms at $90M
Jan 15 2016 // Farmers Insurance has estimated an overall loss of $90 million resulting from severe weather that moved through portions of Texas, Oklahoma and Missouri at the end of December. The region experienced heavy rain, strong...
Insured Losses from U.K. Storm Desmond Estimated at $1.1 Billion: PERILS
Jan 15 2016 // The initial estimate of the insured property market loss for flood damage caused by storm Desmond during Dec. 4-24, 2015 is £717 million ($1 billion), while windstorm losses from the event are estimated at £42 million...
Insured Nat Cat Losses 31% Below Average During 2015: Aon Benfield Report
Jan 14 2016 // Global natural disasters in 2015 caused a combined total insured loss of $35 billion – 31 percent below the 15-year average of $51 billion and the lowest annual insured loss total since 2009, said a report issued by...
Higginbotham Adds Clarke as Loss Control Specialist in Corpus Christi
Jan 13 2016 // Texas based independent insurance firm, Higginbotham, hired Peter Clarke, as senior loss control consultant in its Corpus Christi office. The Corpus Christi loss control department serves customers throughout the state....
Rhode Island Landlord Sentenced in Arson-for-Profit Scheme
Jan 11 2016 // A Providence, Rhode Island, landlord will serve three and a half years in federal prison for starting a fire at a vacant apartment in an otherwise occupied multi-family home in an attempt to collect insurance...
Expect P/C Insurance Price Stagnation in 2016: Kroll
Jan 11 2016 // After a banner 2015 for the U.S. property/casualty insurance sector, pricing pressures will lead to stagnation or rate declines in 2016, Kroll Bond Rating Agency Inc. predicted. Pricing will either be flat or down over the...
