Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurance companies and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a...
Berkshire Hathaway Q3 Profit Falls on Derivatives
Nov 7 2011 // Warren Buffett’s conglomerate Berkshire Hathaway Inc. reported a smaller third-quarter profit Friday after losing more than $2 billion on derivatives related to stock market performance. That was nearly three times...
Third Quarter Earnings Report: Maiden Holdings
Nov 7 2011 // Q3 2011 Q3 2010 Gross premiums written $451.13 mn $289.82 mn 9 months – 2011 2010 $1.3843 bn $951.98 mn Net premiums earned —- $420.277 mn $309.593 mn 9 months – 2011 2010 $1.1346 bn $857.30 mn Net income...
Best Affirms Hannover Re and Subs ‘A’ Ratings; Outlook Positive
Nov 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Hannover Rueckversicherung AG (Hannover...
Independent Agencies Showing Signs of Recovery, Better Profitability, Study Reveals
Nov 7 2011 // Things are looking better for the nation’s property/casualty independent insurance agencies. Organic growth for these agencies improved somewhat last year and their profitability held constant across most of the six...
Fourmile Fire Insurance Losses Exceed $200 Million
Nov 7 2011 // A preliminary report on the 2010 Fourmile Canyon wildfire in Boulder County shows insured losses exceeded $200 million, and the fire spread fast and burned intensely due to the area it was in and the large amount of...
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurers and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a loss. But...
Top 10 Risky Industries to Avoid
Nov 7 2011 // Future Looks Brighter for Overall Economy But These Top Industries Will Be Left Behind, Says IBISWorld As the United States inches toward recovery, there are several industries that aren’t expected to improve along...
Liberty Mutual Posts $111M Q3 Loss, Hurt By CAT Loss, Asbestos Charge
Nov 6 2011 // Liberty Mutual Group reported a net loss of $111 million for its third quarter. In contrast, the third-largest property/casualty insurer in the U.S. had posted net profit of $567 million during the same quarter last...
Benmosche Says AIG Is Still in ‘Good Shape’ Despite Huge Losses
Nov 4 2011 // AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said Friday, the day after the company posted a net loss of more than $4 billion. On a...
Third Quarter Earnings Reports: Argo Group
Nov 4 2011 // Q3 2011 Q3 2010 Gross premiums written $448.5 mn $398.3 mn 9 months — 2011 2010 $1.203 bn $1.238 bn Net premiums earned ——- $268.2 mn $288.9 mn 9 months – 2011 2010 $800.9 mn $936.9 mn Net income (loss)...
Aon Benfield Monthly Cat Report Says Thai Floods Insured Loss over $5 Billion
Nov 4 2011 // Aon Benfield’s latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during October, states that insurers are exposed to a minimum $5 billion loss as...
AIG Reports Q3 Net Loss of $4.1 Billion
Nov 3 2011 // American International Group reported on Thursday a net loss of $4.1 billion and an after-tax operating loss of $3.0 billion for the third quarter ended Sept. 30, 2011, compared with a net loss of $2.5 billion and an...
The Hanover Posts $9.7M Loss in Q3
Nov 3 2011 // The Hanover Insurance Group Inc. reported a net loss of $9.7 million for the third quarter of 2011, driven mostly by catastrophe losses of $64.7 million after tax. The Hanover’s net income for the same period in 2010...
Hartford Q3 Profit Falls on Natural Disasters
Nov 3 2011 // Property and life insurer Hartford Financial Services Group posted a small per-share net loss for the third quarter on Wednesday, as disaster losses rose in the wake of August’s Hurricane Irene. The Hartford, one of...
Third Quarter Earnings Reports: Alterra Capital, AXIS Capital, XL Group
Nov 3 2011 // Alterra Capital: Q3 2011 Q3 2010 Gross premiums written $386.33 mn $325.21 mn 9 months — 2011 2010 $1.578 bn $1.095 bn Net premiums earned —- $347.04 mn $342.43 mn 9 months – 2011 2010 $1.0758 bn $829.93...
Swiss Re Reports $1.3 Billion Q3 Net Income; Minimal Sovereign Debt Exposure
Nov 3 2011 // Swiss Re reported more good news, following the ratings upgrade from Standard & Poor’s. The world’s second largest reinsurer posted $1.3 billion net income in the third quarter of 2011, compared to $600...
Colorado Workers’ Compensation Rates to Rise in 2012
Nov 2 2011 // Colorado employers will see an increase in workers’ compensation insurance premiums in 2012. The Colorado Division of Insurance announced that the “loss costs” component of workers’ compensation...
Marsh & McLennan Q3 Net Profit Fell, But Revenues Continue to Rise
Nov 2 2011 // Marsh & McLennan Companies reported $130 million for third-quarter net profit, down 23 percent from $168 million reported during the same period last year. But profit from continuing operations was up 4 percent as the...
Study: Rating Errors Cause $15B Decrease in Revenue for Auto Insurers
Nov 2 2011 // Auto insurance companies are missing out on more than $15 billion of revenue because of policyholder misinformation, according to a new study of premium rating errors. Quality Planning, a member of the Verisk Insurance...
