Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Willis Re Sees Reinsurers Reacting as $48 Billion Losses Take Their Toll
Jun 30 2011 // The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in...
Mid-Size Firms Expect Higher Profits, More Borrowing: Poll
Jun 29 2011 // Nearly two-thirds of mid-size U.S. companies expect higher profits in the next 12 months, and many plan to borrow more and increase hiring and investment, according to a survey by JPMorgan Chase & Co. The survey...
S&P Downgrades Mariah Re’s Notes to ‘CCC+(sf)’; CreditWatch Developing
Jun 28 2011 // Standard & Poor’s Ratings Services has lowered its rating on Mariah Re Ltd.’s Series 2010-1 notes to ‘CCC+(sf)’ from ‘B(sf)’. S&P has also revised the CreditWatch status of the...
Insurers’ Ratings Won’t Be Penalized for Catastrophe Losses: Demotech
Jun 28 2011 // The fact that U.S. property/casualty insurers’ earnings have taken a hit due to recent catastrophe losses should not by itself mean insurer ratings will change, according to one rating firm. As long as the insurers...
Aon: U.S. Insured Weather Losses Top $15.5 Billion This Year
Jun 22 2011 // Insured severe weather losses have already topped $15.5 billion in the United States this year, three times the full-year average of the last 20 years, insurance brokerage Aon Corp. said Wednesday. Almost all of that comes...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Fargo Storm Could Top $5.8 Million in Losses
Jun 21 2011 // North Dakota Insurance Commissioner Adam Hamm reported that the Memorial Day wind storm in the Fargo area so far has caused more than $4.2 million in damage. Reports to Hamm from several insurance carriers who write...
Zurich Issues Loss Estimate for Spring Storms in U.S.
Jun 20 2011 // Zurich Financial Services Group said it currently estimates aggregate claims of approximately $295 million for both Zurich North America and Farmers Re relating to the series of severe weather-related events that hit the...
Florida Reinsurance Renewals Reflect Unsettled Market
Jun 20 2011 // The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile renewal...
Average Long Term Care Liability Claim Rising: Aon Study
Jun 17 2011 // Long term care liability costs are rising because the average claim size is increasing even as claim frequency declines. There has been a four percent increase in the average claim size, according to research by Aon Risk...
Eqecat Defends Latest New Zealand Quake Loss Estimate
Jun 17 2011 // Catastrophe modeler Eqecat released a defense of its loss estimate of $3 billion to $5 billion for Monday’s Christchurch earthquake, saying its models suggested that would be the incremental damage to the city over...
Another Insurer, State Farm, Reports Major Spring Storm Losses
Jun 17 2011 // State Farm claim representatives said it has paid nearly $1.75 billion to its customers from the destructive storms of April and May. The total claim payments have nearly doubled in less than three weeks. Earlier this...
Best Affirms Lufthansa Captive Insurer Delvag’s Ratings
Jun 16 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Germany’s Delvag Luftfahrtversicherungs-AG...
Allstate’s April-May Catastrophe Losses Top $2 Billion
Jun 16 2011 // Allstate Corp., the largest publicly traded U.S. home and auto insurer, said it lost $2 billion in April and May from severe tornadoes and thunderstorms, nearly equaling its catastrophe losses for all of 2010. The...
A Look at Year-End 2010 Loss and Loss Adjustment Expense Reserve Adequacy
Jun 14 2011 // Loss and loss adjustment expense reserve development has traditionally been the focus of actuaries, auditors and financial analysts. Statutory insurance accounting financial reporting contains several measures that can be...
Cincinnati Financial Expects Up to $290M in Storm Losses for Q2 2011
Jun 14 2011 // Cincinnati Financial Corp. reported that The Cincinnati Insurance Companies’ property casualty group expects its second quarter 2011 results to include pre-tax catastrophe losses, net of reinsurance, of approximately...
Judge Hands Toyota Owners Setback in U.S. Lawsuit Over Losses
Jun 10 2011 // A federal judge said Toyota owners outside California who seek to recover losses in their vehicles’ value resulting from unintended acceleration cannot pursue their claims under that state’s...
Travelers to Post Q2 Loss, Limit Share Buybacks Due to Storm Losses
Jun 10 2011 // Travelers Companies Inc. is slowing down its share buybacks and will post a second-quarter operating loss because of more than $1 billion in catastrophe losses, the property insurer said Friday. The company also warned of...
Lloyd’s Highlights Potential Impact from Cyber Crime, Data Loss
Jun 10 2011 // Cyber crime has become a high profile problem for risk managers, heightened as a result of the recent attacks by hackers on Sony. In an article on its web site Lloyd’s notes that risk manager are increasingly...
Best Upgrades State Farm General Insurance Co.’s Ratings
Jun 9 2011 // 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 State Farm General...
