Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Hurricane Sandy Losses Should Not Affect Most Insurer Ratings or Premiums: S&P
Oct 31 2012 // Standard & Poor’s Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty insurers, global reinsurers, and certain catastrophe bonds. Although it...
Insurers Say Losses from Sandy Won’t Hit Florida
Oct 31 2012 // Insurance experts say the costs associated with losses from superstorm Sandy in the northeast should not affect Florida homeowners. Sam Miller of the Florida Insurance Council said Tuesday that the Florida market is...
HCC Insurance Holdings Reports Record Net Earnings in Q3
Oct 31 2012 // Houston-based HCC Insurance Holdings Inc. reported a record $107.1 million in net earnings for the third quarter ended Sept. 30, 2012. By comparison, the company’s net earnings for the third quarter of 2011 totaled...
Bank Holding Cos. Set Record in Insurance Brokerage Fee Income: Report
Oct 31 2012 // Bank holding companies (BHCs) set new records in insurance brokerage fee income in the second quarter and year-to-date (YTD) in the first half of 2012. According to the Michael White-Prudential Bank Insurance Fee Income...
Insured Losses From Hurricane Sandy $7-$15 Billion: AIR Worldwide
Oct 31 2012 // Catastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the U.S. would be in the range of $7 billion to $15 billion. AIR’s insured loss...
Hurricane Sandy Unlikely to Trigger Payouts from Catastrophe Bonds
Oct 30 2012 // Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the...
Hurricane Sandy Losses Expected to Top Irene’s
Oct 30 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...
P/C Insurers Can Handle Sandy Losses; Flood Program to Bear Brunt
Oct 30 2012 // Ratings analysts at A.M. Best Co. said that 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...
Initial Forecast: $5-10B Insured Losses Expected From Sandy: Eqecat
Oct 29 2012 // As the east coast braces for the impact of Hurricane Sandy, catastrophe risk modeling firm Eqecat issued this morning a preliminary estimate for potential economic and insured losses.A satellite image of Hurricane Sandy...
Sandy May Cause Mid-Single Digit Billions in Insured Losses: Validus CEO
Oct 29 2012 // With Hurricane Sandy expected to make landfall Monday night or early Tuesday, likely in New Jersey, one insurance executive is forecasting industrywide insured losses of up to mid-single digit billions of dollars. But this...
Chubb’s Q3 Profit Jumps 79%; Commercial Renewal Rates Up 8%
Oct 26 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 got a boost from significantly lower catastrophe...
Aon Reports 3% Net Income Growth in Q3
Oct 26 2012 // The world’s largest insurance broker Aon reported a 3 percent rise in net income for the third quarter to $204 million, including an improvement in the performance of its human resources services business, HR...
W.R. Berkley Posts $101M Q3 Profit; Rates on Renewed Policies Up 7%
Oct 23 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...
Lower Catastrophe Losses, Better Rate Environment Increase P/C Net Income: A.M. Best
Oct 22 2012 // The U.S. property/casualty industry’s underwriting and operating performance improved substantially in the first half of 2012 according to a special report by A.M. Best Co. Catastrophe losses, while remaining...
‘Big One’ Looms in Minds of Experts Before California ShakeOut
Oct 18 2012 // A day before more than 9 million people in California took part in a massive nationwide earthquake drill on Thursday, U.S. Geological Survey seismologist Lucy Jones stood in a room full of risk professionals in the San...
Independent Agencies Continue Growing in Number, Revenues: Study
Oct 18 2012 // The number of independent insurance agencies has increased, newer agencies are growing and the system as a whole is dynamic, according to the 2012 Agency Universe Study. The study also documents that independent agencies...
Travelers Profit Soars to $864M in Q3 as Catastrophe Losses Fall
Oct 18 2012 // The Travelers Companies Inc. reported today $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...
China Life Warns on Profits
Oct 17 2012 // China Life , the world’s largest insurer by market value, warned of a 55 percent fall in profits in the first nine months – pointing to its first quarterly loss since 2008. The warning from the state-controlled...
