Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Hannover Re Sees Little Sandy Impact; Raises Profit Forecasts
Nov 6 2012 // Hannover Re does not expect to be blown off course by damage from Hurricane Sandy in the United States, the German reinsurer said on Tuesday, as it beat quarterly profit forecasts and lifted expectations for this year and...
Sandy Losses Within Hurricane Models, Manageable: Reinsurer Hiscox
Nov 5 2012 // Superstorm Sandy won’t put insurers’ finances under severe strain, and may allow them to push through a profit-boosting rise in prices next year, Hiscox , the biggest London-listed reinsurer, said on...
AIG: Sandy Losses Won’t Be a Huge Issue Financially
Nov 5 2012 // The American International Group executives are assuring investors that Sandy-related losses won’t have any significant impact on the company’s financial strength. Also, AIG announced in its Sunday, Nov. 4,...
Chubb’s Q3 Profit Jumps 79%
Nov 5 2012 // The Chubb Corp. reported $533 million net profit for its third quarter, up 78.8 percent from $298 million reported during the same period one year ago. The quarterly results, released on Oct. 25, got a boost from...
Hurricane Sandy Losses Expected to Top Irene’s
Nov 5 2012 // Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting...
Hurricane Sandy’s Impact
Nov 5 2012 // Hurricane Sandy slammed into the New Jersey coastline on Oct. 29, bringing 80 mph winds and hurling a record-breaking 13.88-foot surge of seawater. Following the storm’s landfall, more than 7 million residences and...
P/C Insurers Can Handle Sandy Losses: A.M. Best
Nov 5 2012 // Ratings analysts at A.M. Best Co. said it is likely that the brunt of Hurricane Sandy’s financial impact will fall on the National Flood Insurance Program (NFIP), which is responsible for almost all flood coverage in...
‘Big One’ Looms in Minds of Experts Before California ShakeOut
Nov 5 2012 // A day before more than 9 million people in California took part in a massive nationwide earthquake drill in mid-October, U.S. Geological Survey seismologist Lucy Jones stood in a room full of risk professionals in the San...
What’s Ahead in Agency E&O
Nov 5 2012 // Competition, Hard Market, Healthcare Effects and More E&O Suits by Carriers Firmer insurance prices and an upward trend in agency revenues are signs of good times for most independent agencies. These same trends,...
Travelers Profit Soars to $864M in Q3
Nov 5 2012 // The Travelers Companies Inc. reported $864 million net profit for the third quarter — up 159 percent from the same period a year ago when the insurer posted a $333 million profit. Travelers’ latest earnings,...
W.R. Berkley Posts $101M Q3 Profit
Nov 5 2012 // Commercial lines insurer W.R. Berkley Corp. reported $100.95 million net profit for its third quarter, up 32.1 percent from $76.41 million reported during the same period one year ago. The Greenwich, Conn.-based insurer...
The Hartford’s Q3 Profit Soars; CEO Calls Hurricane Sandy ‘Manageable Exposure’
Nov 2 2012 // The Hartford Financial Services Group reported $401 million profit for its third quarter, up from $60 million profit posted during the same period one year ago. CEO Liam McGee said the Hartford generated strong...
Coverage Analysis: Sandy and Contingent Business Income Losses
Nov 2 2012 // Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued operational viability of that “non-related” entity. Their dependence on...
Big Business Interruption Losses Looming After Sandy
Nov 2 2012 // As the insurance industry makes assessments for superstorm Sandy’s impact, analysts say there is now the potential for significant business interruption (BI) and contingent business interruption (CBI) losses. Fitch...
Liberty Mutual Has $465M Q3 Profit, a Swing From $112M Loss a Year Ago
Nov 2 2012 // Liberty Mutual Insurance reported this week $465 million profit for its third quarter, a swing from a loss of $112 million a year earlier. The insurer’s profit for the first nine months of 2012 came in at $1.056...
AIG Profit Gains on Investments; P/C Earnings Fall But Pricing Improves
Nov 1 2012 // American International Group Inc. earned a larger-than-expected profit during the third quarter, due in part to big gains on its investment holdings. Questions about the sustainability of those profits, and uncertainty...
Eqecat Doubles Insured Loss Estimate for Sandy to $10-20 Billion
Nov 1 2012 // Catastrophe risk modeling firm Eqecat doubled its insured loss estimate range for Sandy, to $10 billion to $20 billion, with the total economic damage range now in $30 billion to $50 billion. Equcat’s previous...
China’s Ping An Insurance Reports Profit Up 20.6%
Nov 1 2012 // Ping An Insurance Co. of China said its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ahead. Ping An said it earned 2.1 billion yuan ($337 million) in the three months ending...
Allstate Reports Higher Q3 Profit; Expects ‘Significant But Not Material’ Sandy Losses
Nov 1 2012 // Home and auto insurer Allstate Corp. reported a larger profit for the third quarter on a decline in disaster losses and improving margins, as its chief executive said storm Sandy would not materially affect results this...
Barclays Facing New U.S. Investigations
Nov 1 2012 // Barclays, already rocked by an interest-rate rigging scandal, on Wednesday disclosed new U.S. regulatory investigations into the bank’s financial probity and also said its profit was hit by charges for mis-selling...
