Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Petersen International Releases Disability Plan for Loss of Future Earnings
Aug 31 2012 // Petersen International Underwriters has released a new disability insurance product intended to pay benefits based on an insured person’s potential future income. The plan, titled “Loss of Future Earnings...
New York’s MTA Files Claims to Recover $65M From 2011 Storm Losses
Aug 31 2012 // New York’s Metropolitan Transportation Authority is submitting claims to insurers and the federal government to recover $65 million in losses it suffered during Hurricane Irene last year. The MTA says winds and...
Kentucky Annual Workers’ Comp Loss Costs Fall for 7th Consecutive Year
Aug 29 2012 // Kentucky regulators said an annual filing most carriers will use to develop rates for workers’ comp coverage shows the seventh consecutive overall decrease in loss costs. The 2012 filing, approved by Kentucky’s...
Early Isaac Losses at $1.5B: Eqecat
Aug 29 2012 // Hurricane Isaac has caused up to $1 billion in economic losses for offshore energy properties and up to $1.5 billion in insured losses onshore in Louisiana and neighboring states, disaster modeler Eqecat said on...
P/C Insurers Show Improved Results Mid-Year: Fitch
Aug 24 2012 // U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers...
Crop Insurers Could Face First Overall Loss in 10 Years: Moody’s
Aug 23 2012 // Record-setting droughts in the U.S. Midwest throughout 2012 are likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, says Moody’s...
Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes
Aug 23 2012 // Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their...
Calif. Workers’ Comp Losses, Expenses Reach Over $12B
Aug 21 2012 // A report issued on Tuesday by the California Workers’ Compensation Institute shows workers’ comp insurers’ loss and expense payments rose to nearly $12.5 billion in 2011, an increase of over $1...
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
Aug 21 2012 // U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to second-quarter 2011, driven by lower catastrophe losses and increased growth in earned premiums, says...
Historical U.S. Hurricanes: What If They Struck Today?
Aug 21 2012 // There have been 28 storms in U.S. history since 1900 which if they were happen today would each cause $10 billion or more in insured losses. Hurricane Andrew, which struck Florida 20 years ago this week, would be three...
Earnings Report: QBE Group
Aug 17 2012 // Selected earnings highlights in US dollars from Australia’s QBE Group for the first six months of 2012 are as follows: 1st Half 2012 1st Half 2011 Gross premiums written ———— $9.233 bn $8.942...
Wildfires: Sage Grouse Habitat Loss Could Impact Nevada Insureds
Aug 16 2012 // If you’re a business in Nevada, it may not be immediately clear why you should be concered with the state’s nearly dozen wildfires that are consuming almost 600,000 acres and destroying sage grouse habitat. But...
Zurich Insurance Group Posts $2.2 Billion 1st Half Net Income
Aug 16 2012 // Zurich Insurance Group posted a $2.2 billion net after tax income available to shareholders. Other selected highlights from the earnings report are as follows: Q2 2012 Q2 2011 Business operating profit...
IBC Estimates Alberta Wind, Thunderstorm Insured Losses over $100 Million*
Aug 15 2012 // The Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by the recent severe thunderstorm event that hit the Edmonton area in July amounts to more than $100 million. The IBC noted that the...
Allianz Central and Eastern Europe Operations 1st Half Results
Aug 14 2012 // Allianz said its Central and Eastern Europe (CEE) operations “produced solid underlying results for the first six months of 2012 in challenging economic circumstances.” The regional companies reported total...
June, July Ohio Storm Losses Rise to More than $400M
Aug 13 2012 // Insured losses from a round of summer storms in late June and early July have risen to more than $400 million, a state-based insurance information group reported. Property casualty insurers are reporting losses of at least...
Hannover Re Reports 85% 1st Half Gain in Net Income to $497 Million
Aug 10 2012 // Hannover Re’s interim report for the first six months of 2012 shows gains in all of the reinsurer’s primary sectors. Highlights for the period were listed as follows: — Gross premium: + 14.0 percent to...
Markel Posts $89.7M Q2 Profit, Buoyed by Improved Underwriting Results
Aug 9 2012 // Glen Allen, Va.-headquartered Markel Corp. on Thursday posted $89.69 million net income to shareholders for its 2012 second quarter, a 197 percent increase from $30.31 million income reported a year earlier. Markel...
Swiss Re Reports $83 Million Q2 Net Income; $717 Million in P&C
Aug 9 2012 // Swiss Re reported a net profit of $83 million for the second quarter of 2012, indicating that the figure was “impacted by the sale at a loss of $1.0 billion of the Admin ReĀ® US business.” Property &...
Marsh & McLennan Q2 Profit Up 17%; Revenues Growing in All Divisions
Aug 8 2012 // Marsh & McLennan Companies reported on Tuesday $329 million net profit for its 2012 second quarter, a 17 percent increase from $282 million reported a year earlier. “Our outstanding second quarter results...
