Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
How New Capital is Changing P/C and What To Do About It
Jul 7 2014 // As waves of capital reshape reinsurer’s business model, the property/casualty (P/C) insurance industry needs to change, although how remains a matter of debate. Reinsurers face a growing threat from the capital...
P/C Insurers’ Profit Dipped in Q1
Jul 6 2014 // Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net...
Zurich Insurance to Take $300 Million Loss on Russian Unit Sale
Jul 3 2014 // Zurich Insurance Group AG, the largest Swiss insurer, said the sale of its Russian retail unit will lead to an estimated loss of about $300 million. The insurer said it is selling the business to Moscow-based Olma Group...
United Fire Group Sees Up to $23M Loss for Second Quarter Spring Storms
Jun 25 2014 // United Fire Group Inc., based in Cedar Rapids, Iowa, announced that it expects its second quarter results to include pre-tax catastrophe losses, net of reinsurance, of approximately $20 million to $23 million from spring...
Allstate Estimates $440M Catastrophe Losses for May
Jun 23 2014 // Allstate Corp. estimated that it had $440 million in pre-tax catastrophe losses for the month of May 2014 —or $286 million after taxes. The Northbrook, Ill.-based company said 11 events contributed to May losses, at an...
Ascension in California Names Figueroa Senior Loss Consultant
Jun 18 2014 // Walnut Creek, Calif.-based Ascension Insurance Inc. has hired Marco Figueroa as a senior loss consultant. Figueroa will work with clients to provide risk management and safety and health services. Figueroa has 19 years of...
Top Loss Leaders in the Oil Patch? Commercial Auto, Workers’ Comp
Jun 18 2014 // There’s no doubt that new advancements in the practice of hydraulic fracturing, or fracking, are driving the current production boom in the oil patch. The technique, which is used to retrieve oil and gas reservoirs...
How New Capital is Changing P/C Industry and What To Do About It
Jun 17 2014 // As waves of capital reshape reinsurer’s business model, the property/casualty insurance industry needs to change although exactly how remains a matter of debate. Reinsurers face a growing threat from the capital...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 16 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs), which investigated cases between January 2012 and...
Former Charleston Bank Officers, Directors Sued Over Losses
Jun 6 2014 // The U.S. government is suing some of the former leaders of the now-closed Atlantic Bank & Trust in Charleston. The Post and Courier of Charleston reported that the Federal Deposit Insurance Corp. wants to recover more...
One Year Later Insurance Losses From Black Forest Fire $420.5M
Jun 5 2014 // A year after the massive Black Forest Fire stuck Colorado, insured losses are now estimated at $420.5 million, according estimates released by the to the Rocky Mountain Insurance Information Association on Thursday. The...
The Hartford Names Carano Commercial Markets Loss Control VP
Jun 5 2014 // The Hartford has appointed Carl J. Carano vice president of loss control for the company’s Commercial Markets division. Carano will lead development of a risk management services for commercial insurance customers....
Revised PERILS’ Loss Estimate from Windstorm Xaver Exceeds $1 Billion
Jun 5 2014 // PERILS AG has released its third loss estimate for windstorm Xaver, a storm which affected Western and Northern Europe on December 5-6, 2013. Windstorm Xaver is also known as Sinterklaasstorm in the Netherlands, Bodil in...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 3 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December...
Best Upgrades State Farm General’s ICR; Affirms State Farm and Subs FSR’s
Jun 2 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of State Farm General Insurance Company, and...
Lower Cat Losses Helped Home Insurers to First Profit Since 2007: SNL
Jun 2 2014 // The U.S. homeowners insurance industry benefited from lower catastrophe activity in 2013 and became profitable for the first time since 2007, according to an analysis by SNL Financial. According to SNL, all of the top 20...
The Importance of Having an Integrated Services Solution
Jun 2 2014 // U.S. multinational businesses are increasingly seeking opportunities in new regions of the world, expanding outside of the United States and continental Europe into sub-Saharan Africa, Asia and Latin America. As their...
P/C Insurance Industry Loss Reserves Stable: Conning
May 20 2014 // The property/casualty industry’s loss reserve position is slightly improved as of year-end 2013, according to Conning. “Overall, the industry continues to appear to have sufficient reserves, with a modest...
R.I. Approves WC Advisory Loss Costs Increase of 2.5% for Industrial Classes
May 19 2014 // Rhode Island’s Department of Business Regulation, Insurance Division, on May 15 approved a +2.5 percent overall increase in advisory loss costs for workers’ compensation for industrial classes and an overall...
NCAA Athletes Drop Image-Use Damages Claim, Pursue Future Earnings
May 19 2014 // Ex-National Collegiate Athletic Association players suing to gain a share of the $800 million of annual broadcast revenue reaped by the organization said they won’t seek damages for past use of their images, instead...
