Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
AIR Analyzes Heavy Impact of UK Floods; 2012 Losses ‘Above Average’
Nov 28 2012 // Catastrophe modeling firm AIR Worldwide has issued a preliminary report on the floods caused by the heavy rainfall that began lashing the British Isles on Thursday, November 22, prompting hundreds of flood warnings and...
Agency E&O Outlook: Competition, Hard Market, Healthcare Effects and More
Nov 27 2012 // Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends, however, are reflected in today’s insurance market for agency errors and...
Attorneys Discuss Importance of Event Cancellation Insurance
Nov 26 2012 // The cancellation of the 2012 New York City Marathon was disappointing to the approximately 47,000 runners who dedicated months to training for the race, many of whom had already spent a significant amount of time and money...
AIR Worldwide Raises Sandy Insured Loss Estimates to $16-$22 Billion
Nov 26 2012 // Catastrophe modeling firm AIR Worldwide today revised up its industrywide Sandy insured loss estimates to the $16 billion-$22 billion range. AIR Worldwide had previously estimated on Oct. 30 — the day after Sandy...
AIR Worldwide Survey Team Describes Sandy Losses in N.J., N.Y.
Nov 21 2012 // AIR Worldwide recently concluded damage survey of areas impacted by Superstorm Sandy, which made landfall on Oct. 29, five miles southwest of Atlantic City, New Jersey. On November 11, 2012, AIR teams were deployed to...
Willis: It’s Not Surprising to See Sandy Loss Estimates Climbing
Nov 20 2012 // The price tag for Hurricane Sandy for insurers could reach $25 billion, according to a recent report in The Wall Street Journal, citing new estimates by catastrophe modeling firm Risk Management Solutions. In an online...
SNL Report: Insurers Begin Issuing Sandy Loss Estimates
Nov 20 2012 // A number of insurers have begun issuing their Sandy loss estimates in the weeks since the superstorm devastated the East Coast. The SNL Financial compiled these company-specific loss estimates in a new report this...
Attorneys Discuss Possible Triggers for Business Interruption Coverage
Nov 20 2012 // Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass...
Maine Approves Decrease in WC Loss Costs; $3.5M in Savings Expected
Nov 19 2012 // Maine Insurance Superintendent Eric Cioppa announced last week that the state’s Bureau of Insurance has received, reviewed and approved the National Council on Compensation Insurance’s 2013 loss cost filing...
Best Affirms Aspen UK, Bermuda and Subs Ratings; Outlook Stable
Nov 16 2012 // A.M. Best Europe – Ratings Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Aspen...
RMS’s Sandy Insured-Loss Estimate Is $20-$25 Billion, WSJ Reports
Nov 15 2012 // Catastrophe modeling firm Risk Management Solutions’ insured loss estimate for Sandy would be in the range of $20 billion to $25 billion, according to a report from The Wall Street Journal. RMS has not yet published...
Too Early for Sandy Loss Estimate: Allstate
Nov 15 2012 // The Allstate Corp. said that its catastrophe losses for the month of October 2012 will exceed $150 million, but said it could not report a more specific loss estimate at this time. Allstate said it will issue a catastrophe...
Zurich’s 9-Month Business Operating Profit Flat at $3.2 Billion
Nov 15 2012 // The Zurich Insurance Group reported a business operating profit (BOP) of $3.2 billion and net income attributable to shareholders (NIAS) of $2.7 billion for the nine months ended September 30, 2012. The bulletin gave the...
Boating Loss From Superstorm Sandy Could Set Record
Nov 14 2012 // N.J. resident Kevin Kelly couldn’t quite tell the damage Superstorm Sandy caused his 30-foot Wellcraft Sportfisher when he saw it last week. It was in the middle of Shrewsbury Avenue in Highlands, N.J., under a pile...
Reinsurers’ Capital Can Absorb Sandy Losses Below $50 Billion: S&P
Nov 14 2012 // Standard & Poor’s Ratings Services said that the reinsurance sector’s strong capital and very strong earnings thus far in 2012 will allow it to withstand losses well outside the range of current insured...
Q&A With Attorneys on Emerging Business Insurance Topics
Nov 13 2012 // As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance...
Chubb Suspends Stock Buyback as It Counts Sandy Losses
Nov 13 2012 // Property/casualty insurer Chubb Corp. suspended its stock buyback program, because it has not yet been able to determine what its total costs related to Superstorm Sandy will be. The Warren, N.J.-based company is...
Superstorm Sandy Stress Scenarios Won’t Impact Insurer Ratings: Fitch
Nov 8 2012 // Even an extreme $40 billion scenario for property/casualty insurance industry losses from Hurricane Sandy would not drive material rating changes for insurers, analysts at Fitch Ratings said today. In a report providing a...
Swiss Re Posts $2.2 Billion Q3 Net Income
Nov 8 2012 // Swiss Re reported net income of $2.2 billion in the third quarter of 2012, compared to $1.3 billion in the prior-year period, and a return on equity of 28 percent, “driven by continued strong performance from...
Munich Re Raises 2012 Profit Forecast on Stronger 9-Month Results
Nov 7 2012 // Munich Re said it expects a higher consolidated result for 2012 than previously envisaged. Following a profit of €2.7 billion [$3.47 billion] for the first nine months of 2012 (same period last year: €80 million...
