Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Top 50 Personal Lines Leaders
Nov 18 2013 // About the Personal Lines Leaders: The 2013 Personal Lines Leaders in this special feature are taken from Insurance Journal‘s Top 100 Property/Casualty Independent Agencies as reported in August. This list utilizes...
Big ‘I’ 2013 Best Practices Study Finds Increases in Specializations, Profitability
Nov 15 2013 // The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) released its 2013 Best Practices Study which found an increase in agencies with specializations, expansion of technology...
Allianz Looks to Boost U.S. Presence, Improve Fireman’s Fund: Bhojwani
Nov 15 2013 // Allianz SE, Europe’s largest insurer, said it is committed to bolstering operations in the U.S. after international rivals scaled back in the country. “It is a monster market,” Gary Bhojwani, the...
Zurich Insurance Reports Profit Rebound
Nov 15 2013 // Zurich Insurance Group AG, Switzerland’s biggest insurer, said third-quarter profit rose 64 percent, beating analyst estimates, after a write-off related to its German business hurt earnings a year earlier. Net...
MarshBerry Survey Reveals an Optimistic Marketplace: Part 1
Nov 13 2013 // In June of this year, MarshBerry launched its 28th Annual Market & Financial Outlook Survey in conjunction with Insurance Journal. The survey compiled anonymous general independent agency information along with...
Doubts About CEO’s Controls at Insurer Raised by RSA Irish Accounting Inquiry
Nov 13 2013 // In September, RSA Insurance Group Plc Chief Executive Officer Simon Lee expanded the role of his top Irish lieutenant, Philip Smith, and praised his “outstanding record.” Two months later, he suspended...
Reinsurer Arch to Help Freddie Mac Cover Mortgage Losses
Nov 13 2013 // Freddie Mac bought insurance covering a portion of losses on a pool of home loans from Arch Capital Group Ltd.’s Arch Reinsurance Ltd. unit, expanding risk- sharing efforts by the government-backed company. The...
Much of Eastern Asia Underinsured for Weather As Risk, Values Rising
Nov 13 2013 // Insured losses from weather-related events in Eastern Asia amount to only about 10 percent of the $700 billion in total losses accumulated over the last three decades, according to an analysis by Munich Re. According to...
Haiyan Worse for Philippines Than Sandy for U.S.; Only 10-15% of Loss Insured
Nov 12 2013 // Destruction from Typhoon Haiyan, which flattened buildings and unleashed storm surges that may have killed 10,000 people, could be several times worse for the Philippines economy than superstorm Sandy was for the...
Allianz Raises 2013 Earnings Goal as Q3 Profit Climbs
Nov 8 2013 // Allianz SE, Europe’s biggest insurer, increased its full-year earnings goal after third-quarter profit rose 6.3 percent, beating analysts’ estimates. Net income advanced to €1.45 billion ($1.946 billion) from...
AIR Estimates Insured Losses from Europe Windstorm at $2-$3 Billion
Nov 7 2013 // Catastrophe modeling firm AIR Worldwide has estimated that insured losses from Windstorm Christian (known as St. Jude in the UK) will range between €1.5 billion €2.3 billion [$2 to $3 billion], with the majority of...
Munich Re Plans $1.35 Billion Buyback as Q3 Net Beats Estimates
Nov 7 2013 // Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13...
Generali Third-Quarter Net Profit Rises as Operating Income Climbs
Nov 7 2013 // Assicurazioni Generali SpA, Italy’s biggest insurer, said third-quarter profit rose 75 percent as it earned more from its life segment and property and casualty operations. Net income rose to €510 million ($690...
Insurers’ Annual Incurred A&E Losses Rose 12% in 2012: A.M. Best
Nov 6 2013 // While generally not a material drag on the U.S. property/casualty industry’s earnings, industry losses from asbestos and environmental (A&E) claims resumed an upward climb in 2012, according to a new A.M. Best...
MMC’s Marsh Insurance Brokerage Unit Q3 Revenue Rises 4% to $1.24B
Nov 6 2013 // Marsh & McLennan Cos. (MMC) reported today its 2013 third quarter net income of $253 million, a 4.98 percent increase from $241 million income reported during the same period a year ago. MMC’s consolidated...
Increasing Retentions: The Hidden Premium Increase
Nov 4 2013 // Is the market hardening? A Google search shows that most experts think it is, and it is nearly impossible to find a professional journal without an article discussing the topic. The premium increases that are being...
AIG’s Q3 Profit Advances 17% to $2.17B; Property/Casualty Sales Decline
Nov 1 2013 // American International Group Inc., the insurer that repaid a U.S. rescue last year, said third- quarter profit climbed 17 percent as underwriting margins improved at the property-casualty business. Net income rose to $2.17...
AXIS Capital Reports $137 Million Q3 Net Income; $512 Million 1st 9 Months
Nov 1 2013 // Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the third quarter of 2013 of $137 million, or $1.21 per diluted common share, compared with $223 million, or $1.82 per...
Aspen Posts $107.4 Million Q3 Net Income
Nov 1 2013 // Bermuda-based Aspen Insurance Holdings Limited reported net income after tax of $107.4 million, or $1.43 diluted net income per share, for the third quarter of 2013. The earnings report for the quarter listed the following...
The Hanover Insurance Group Q3 Profit Rises 52% to $61M
Oct 31 2013 // The Hanover Insurance Group Inc. reported net income of $61.3 million for its 2013 third quarter, an increase of 51.7 percent compared to $40.4 million profit during the same period a year ago. The Worcester, Mass.-based...
