Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
RAA: U.S. Reinsurers Had Higher Profits, Improved Underwriting Results in 2012
Mar 15 2013 // The Reinsurance Association of America (RAA) said a group of 19 U.S.-based property/casualty reinsurers reported higher net written premiums and net income for 2012 compared to 2011. The RAA said Thursday that a survey of...
Court Upholds Florida Sinkhole Insurance Loss Rule
Mar 15 2013 // A Florida court has upheld a decision by state insurance regulators that property insurers must offer sinkhole loss coverage in an amount equal to the dwelling coverage limit. Farm Bureau asked the Office of Insurance...
SNL Analysis Highlights Sandy’s Impact on P/C Underwriting Results
Mar 14 2013 // Financial information firm SNL Financial’s preliminary analysis of more than 2,600 individual property/casualty filer’s statutory data illustrates how big of an impact Superstorm Sandy had on the filers’...
Indiana Crop Insurance Payouts for ’12 Losses Top $1B
Mar 14 2013 // Indiana crop insurance payouts for losses during last year’s drought have reached a record $1 billion. Purdue University said that Indiana farmers have received the payouts for 2012 corn, soybean and wheat losses....
N.Y. Proposes Establishing Private Right of Action for Insureds Suffering Disaster Losses
Mar 13 2013 // A New York legislator proposed a new bill that would establish a private right of action for the insured for unfair insurance settlement practices when the claim relates to loss or injury in regions where the governor has...
Capital Growth Outpaced P/C Premiums In 2012: Moody’s
Mar 13 2013 // Moody’s Investor’s Service reported that the property/casualty insurance industry’s capital growth outpaced premium growth last year, and that earnings for the year jumped nearly 50 percent over...
International Insurers, Reinsurers to Shoulder Half of Sandy Losses
Mar 11 2013 // International insurance and reinsurance companies are expected to cover half of total insured losses from Superstorm Sandy, an industry association said. Estimated losses from Superstorm Sandy currently stand at over $16...
Fidelity Investments Challenged Over Use of ‘Float Income’
Mar 8 2013 // Fidelity Investments, the largest U.S. provider of workplace retirement plans, is facing more accusations it improperly uses customer money earned in overnight accounts to pay its own operating expenses. Three...
SCOR Posts $545 Million 2012 Net Income; Strong Growth
Mar 7 2013 // France’s SCOR Group reported a solid performance for 2012, which it said “continues to combine growth, profitability and solvency.” Highlights for the year were listed as follows: •Gross written...
The Hartford Restates Q3; Full-Year 2012 Bottom Line Reverses To A Loss
Mar 1 2013 // On Friday, March 1, The Hartford announced that it filed an amended Form 10-Q with the U.S. Securities and Exchange Commission to restate its third-quarter 2012 results — a change that turned a previously reported net...
Liberty Mutual’s 2012 Profit Jumps 132% to $829M Despite Q4 Net Loss
Mar 1 2013 // Liberty Mutual and its subsidiaries today reported 2012 fourth-quarter net loss of $234 million, with the results including $576 million Superstorm Sandy losses. In comparison, the Boston-headquartered insurer had $285...
BMS Group Posts 2012 Revenue Growth through Expansion
Mar 1 2013 // Independent broker BMS Group announced that it has “continued the momentum of its expansion in 2012 confirming revenues in excess of £63 million [$95 million], up 20 percent on 2011. Over the past two financial...
Erie Indemnity Posts $160M Profit for Full-Year 2012
Feb 28 2013 // Erie Indemnity Company, the managing company for Erie Insurance, posted 2012 fourth-quarter earnings of $30 million, up 15 percent from earnings of $26 million in the fourth quarter of 2011. Operating income was $29...
International Insurers, Reinsurers to Shoulder Half of Sandy Losses: ABIR
Feb 28 2013 // International insurance and reinsurance companies are expected to cover half of total insured losses from Superstorm Sandy, an industry association said Thursday. Estimated losses from Superstorm Sandy currently stand at...
Donegal Group’s Profit Jumps to $23M for Full-Year 2012
Feb 27 2013 // Donegal Group, a property/casualty insurance holding company based in Marietta, Penn., reported $6.22 million net income for the 2012 fourth quarter, in contrast to a loss of $879,000 during the fourth-quarter of 2011. The...
How Process Improvement Drives Agency Profitability
Feb 26 2013 // To boost their profitability, agencies make investments all the time in people and technology, as well as in other businesses through acquisitions. But Dan Epstein, CEO of ReSourcePro, says there is another often...
Australia’s QBE Profits Reduced by Higher Claims; Cuts Dividend
Feb 26 2013 // QBE Insurance, Australia’s biggest insurer, posted a lower-than-expected 8 percent rise in full-year net profit due to high claims for accidents and adverse U.S. weather, prompting it to slash its dividend and...
High Prices, Crop Insurance to Offset Drought Losses for Farmers in 2013: USDA
Feb 25 2013 // The seven-year-old U.S. agricultural boom, driven by record-high commodity prices and painfully tight supplies, is expected to peak this year and then come to an abrupt end as high costs start to bite, the government...
Agency Compensation Playbook: Who’s Worth What?
Feb 25 2013 // 2013 Agency Salary Survey Managing sales in an independent agency is a team sport. From top level managers to office and support staff – every person in an agency has a role to play in helping the agency win the sales...
Allianz Reports Revenue, Operating Profit and Net Income Growth for 2012
Feb 22 2013 // Germany’s Allianz Group, Europe’s largest insurer, reported strong results for the financial year 2012. Revenues reached €106.4 billion [$140.66 billion] for the year, an increase of 2.7 percent compared to...
