Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Irene Losses Won’t Trigger Policy Payouts – CCRIF
Aug 31 2011 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that, “while Hurricane Irene resulted in registered losses in six of its member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St....
Tobacco, Poultry Among North Carolina Farm Losses from Irene
Aug 30 2011 // North Carolina farmers felt the financial weight of Hurricane Irene’s winds and heavy rains Sunday as inspections following the storm revealed damage to field crops, poultry and other agricultural businesses. State...
Irene Blamed for 38 Deaths; $20 Billion Economic Loss; Worst Flooding in Decades
Aug 30 2011 // New Jersey and Vermont struggled with their worst flooding in decades Monday, a day after Hurricane Irene slammed an already soaked U.S. Northeast with torrential rain, dragging away homes and submerging neighborhoods...
Irene Insured Losses in U.S. at $3-$6 Billion; P/C Pricing Unlikely to Turn
Aug 29 2011 // Hurricane Irene caused $3 billion to $6 billion in insured losses, catastrophe modeling company AIR Worldwide said Monday, affirming the insurance industry’s suspicion the impact was not as bad as feared. In the days...
Michigan Court Backs Emotional Damages in Home Loss Due to Oil
Aug 29 2011 // Four hundred gallons of heating oil in the basement? The Michigan appeals court says that’s distressing. The court has upheld a $100,000 verdict for a Clinton County woman whose home had to be demolished after oil...
Irene Insured Losses Significant But Figures Still Uncertain
Aug 29 2011 // Hurricane Irene is expected to have caused substantial property losses, though figures are still hard to come by because of uncertainty about wind damage, catastrophe modeling company Eqecat said Monday. The storm may have...
P/C Industry ‘Adequately Capitalized’ Says Best, Despite Irene Losses
Aug 29 2011 // A.M. Best has begun an assessment of the potential financial impact Hurricane Irene’s passage through the Caribbean and up the East coast of the U.S. might have on the property/casualty industry in the U.S.,...
AIR Estimates Irene Insured Caribbean Losses at $500 Million to $1.1 Billion
Aug 29 2011 // AIR Worldwide has estimated that insured losses in the Caribbean from Hurricane Irene will be between $500 million and $1.1 billion. AIR said it “expects the Bahamas will account for more than 60 percent of the...
Irene Damage Assessment Underway; Flood Insurance Losses Could Surge
Aug 28 2011 // Hurricane Irene caused between $200 million and $400 million in insured losses in the Carolinas, catastrophe modeling company EQECAT said Sunday, suggesting the storm may have been far less severe than the insurance...
Insured Losses from Hurricane Irene in Carolinas Could Reach $400 Million
Aug 28 2011 // Hurricane Irene caused between $200 million and $400 million in insured losses in the Carolinas, catastrophe modeling company Eqecat said on Sunday. At 7:30 a.m. ET Saturday, Aug. 27, Irene made its first landfall just...
Top 10 Most, Least Stolen Vehicles and Loss Payments
Aug 26 2011 // The Cadillac Escalade luxury SUV is the vehicle most likely to be targeted by thieves, according to the Highway Loss Data Institute, an insurance-funded group. Here are the vehicles most and least likely to be targets, and...
Bermuda’s Catalina Holdings to Acquire Residential Loss Control Holdings
Aug 26 2011 // Catalina Holdings (Bermuda) Ltd. has announced that its wholly owned subsidiary, Catalina Echo Limited, signed a definitive merger agreement on August 22, 2011 to acquire Residential Loss Control Holdings, LLC...
Profits Soar at Australia’s IAG, but Outlook Hits Shares
Aug 25 2011 // Insurance Australia Group, Australia’s top home and car insurer, reported a more than two-fold jump in annual net profit on Thursday but its outlook knocked the shares lower. IAG forecast profit margins of 10-12...
North, South Carolina Coastal Insurance Plans Ready for Hurricane Irene
Aug 24 2011 // Caught square in the path of Irene, the first major hurricane of the season, the coastal insurance plans in North and South Carolina are prepared to absorb what may be their first major losses in years. Both plans appear...
Australia’s Suncorp Profit Falls 42%; Hints at Capital Return
Aug 24 2011 // Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But...
East Coast Earthquake Losses Less Than $100 Million: Eqecat
Aug 23 2011 // The earthquake that struck Virginia and rattled the Eastern United States Tuesday caused less than $100 million in insured losses, catastrophe modeling company Eqecat said. Eqecat said the relatively weak nature of the...
Chinese Insurer Ping An Posts 33% Rise in 1st Half Profits
Aug 19 2011 // Ping An Insurance Co. of China Ltd. said Thursday its fast-growing banking business helped to boost profit for the first half by nearly 33 percent. Profit for the six months ending June 30 was 12.8 billion yuan ($1.9...
QBE 1st Half Net Profits up 53% to US$673 Million
Aug 19 2011 // QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on...
As Disaster Losses Mount, U.S. Seeks to Make Country ‘Weather Ready’
Aug 17 2011 // Noting that the U.S. has experienced $35 billion in economic losses due to disasters already this year, the federal government is embarking upon a national plan it hopes will save lives and protect property from severe...
Madoff Trustee’s Loss Formula Upheld
Aug 17 2011 // A U.S. appeals court on Tuesday upheld a method developed by the trustee liquidating Bernard Madoff’s firm for determining how to calculate investor losses, handing a defeat to so-called “net...
