Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
P/C Sector Expected to Post Strong Q3 Earnings: KBW
Oct 10 2012 // The third-quarter earnings season is almost here. And analysts at research firm Keefe, Bruyette & Woods published their propety/casualty insurance earnings preview this morning. Overall, the analysts expressed...
Best’s Report on Spanish Non-Life Sector Finds Profits, Future Challenges
Oct 10 2012 // “The Spanish non-life insurance sector remained profitable in 2011, but growth remains challenging, as it continues to face one of the bleakest economic environments since the 1930s,” according to a new report...
NCCI Recommends Conn. WC Loss Costs and Rates Increases
Oct 9 2012 // The National Council on Compensation Insurance recently filed a proposal for workers’ comp loss costs and rates increases in Connecticut. The NCCI is proposing that the Connecticut regulators approve a +7.1 percent...
Slow and Steady: Optimism Good for Surplus Lines Market in 2012
Oct 9 2012 // Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists — especially market leaders — generated healthy operating profits and returns on both revenue and...
State Auto Estimates $6.5 – $7.5Mn Q3 Cat Losses; RED Reserves Increased
Oct 9 2012 // State Auto Financial Corporation (STFC) estimates the impact of catastrophe losses in the third quarter of 2012 at between $6.5 million and $7.5 million in pre-tax net. It noted that during the quarter six catastrophe...
Beyond ‘Profits-Only’: 3 Trends That Will Affect Your Bottom Line
Oct 8 2012 // Global trends are like a river. Sometimes they are powerful, sometimes they are weak and sometimes they are so mellow a business can glide along like it’s on a leisurely, summer afternoon pontoon boat ride. But right...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Oct 8 2012 // A report out late last month urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those...
Slow and Steady: Surplus Lines Industry Reverses Downward Trend; Optimism Good for 2012
Oct 8 2012 // Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists — especially market leaders — generated healthy operating profits and returns on both revenue and...
Pay Owners for What They Do!
Oct 8 2012 // Owners are the firm’s leaders and need to set the right example and tone for the rest of the people in the firm. If they do not set their compensation based on what they are each doing, resentment can occur between...
There Must Be Coverage Somewhere
Oct 8 2012 // Your client, a tenant in a local strip mall, signs a five-year lease with an option to renew. The lease contains the following language: Lessor shall pay property insurance premiums on the leased premises including the...
Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses
Oct 5 2012 // Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most...
Florida Approves 10.8% Rate Hike for Citizens; Also 21.4% for Sinkholes
Oct 4 2012 // Florida regulators have approved a 10.8 percent statewide average homeowners insurance rate increase and a 21.4 percent increase in sinkhole rates for the state-backed property insurer. Insurance Commissioner Kevin McCarty...
P/C Insurers’ Profits Jump in First Half as Catastrophe Losses Drop
Oct 4 2012 // U.S. property/casualty insurers’ net income after taxes jumped to $16.4 billion in first-half 2012 from $4.8 billion in first-half 2011, with insurers’ overall profitability as measured by their annualized rate...
Aon Report Finds Loss of Company Reputation Linked to Crisis Events
Oct 4 2012 // According to the Aon-sponsored Reputation Review 2012, a report recently issued by Oxford Metrica, an independent analytics and advisory firm, 7 out of 10 companies “measured in the report that were impacted by...
Best Upgrades Hyundai Marine & Fire, China Sub’s Ratings
Oct 3 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of South Korea’s...
Lloyd’s Analyzes Repercussions of Thai Flood Losses a Year Later
Oct 3 2012 // Lloyd’s has published an analysis of the floods that hit Thailand in October 2011, which notes that “after weeks of slowly spreading their way through many of Thailand’s provinces, flood waters eventually...
Alaska Railroad: Flood Damage, Lost Revenue May Top $1M
Sep 26 2012 // Washouts of railroad track after heavy rains and revenue lost because of idled trains are likely to cost the Alaska Railroad more than $1 million, a spokeswoman said Monday. “We’re still tallying the...
Lloyd’s 1st Half Profits at $2.4 Billion; CEO Cites ‘Disciplined Underwriting’
Sep 26 2012 // Lloyd’s of London’s first six months of 2012 financial figures couldn’t evince a greater difference from those posted in the first half of 2011. It posted profits of £1.53 billion ($2.47...
NAS Insurance Covers Lost Revenue From Cyber Breaches
Sep 24 2012 // NAS Insurance Services Inc. has launched an insurance coverage that pays companies for lost revenue in the event of a cyber breach. The new coverage, called BrandGuard, is a component of NetGuard Plus Cyber Liability...
Isaac Losses Won’t Strongly Impact P/C Industry in Louisiana
Sep 24 2012 // While insured losses in the United States from Hurricane Isaac likely will fall between $1 billion and $2 billion, according to some risk management experts, the storm’s impact will not severely impact the...
