Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Northeast Insurers Say Winter Storms Hurt Q1 Profits
Apr 22 2011 // Pennsylvania-based insurer Harleysville said severe winter storms over the last few months will hurt its first quarter profits. “We experienced unusually severe winter weather throughout much of the Mid-Atlantic and...
Aon Benfield Says Q1 Cat Losses Expected to Raise Facultative Rates
Apr 22 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its “Fac Quarterly report,” which provides an analysis of trends witnessed in the...
Employers Holdings Q1 Earnings to Be Announced May 5
Apr 21 2011 // Reno, Nev.-based Employers Holdings Inc., whose subsidiaries are specialty providers of workers’ compensation insurance focused on small businesses, announced it will review the company’s first quarter 2011...
Travelers Profits Up
Apr 21 2011 // Improved pricing and a drop in catastrophe losses boosted Travelers profits 30 percent in the first quarter, as it beat Wall Street’s expectations and offered some evidence of a turn in the soft market. Net profit...
Aon Benfield Estimates Reinsurers’ Capital at $470 Billion
Apr 21 2011 // The latest edition of the Aon Benfield Aggregate (ABA) report, which analyses the year end 2010 financial position of the world’s leading reinsurers and examines how 2011 catastrophe losses may affect their capital...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
Catlin Estimates Japanese Earthquake/Tsunami Losses at $200 Million
Apr 20 2011 // The Bermuda-based Catlin Group Limited announced that its initial estimate of the financial impact of the March 11 earthquake and tsunami that devastated areas of northeast Japan, are expected to be around $200 million,...
Storm Losses Largest in North Carolina and Virginia
Apr 19 2011 // The massive, weekend storm system that killed dozens of people, and destroyed buildings, livestock and other property as it swept east across the country, produced the most significant insured losses in North Carolina and...
Summary of Re/Insurers’ Loss Estimates from Japan’s Earthquake, Tsunami
Apr 19 2011 // Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks. Risk...
Best Affirms Flagstone Re’s Ratings; Outlook Revised to Negative
Apr 18 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Flagstone Reassurance Suisse S.A. and Flagstone Alliance Insurance and...
ABIR Reports 2010 Results for Bermuda’s Re/Insurers; $11.4 Bn Net Income
Apr 18 2011 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2010 global underwriting results for its 22 member (re)insurers – companies that write insurance and reinsurance from underwriting centers in...
Tallying Tsunami Losses
Apr 18 2011 // Damage estimates from the March tsunami resulting from the Japanese 9.0 magnitude earthquake have increased. California Emergency Management Agency spokesman Brad Alexander said the most recent damage estimate was $48...
E&O Insights: Are Your Customers Properly Protected for Business Interruption?
Apr 18 2011 // While you may answer the question posed in the headline by saying that most of your commercial customers have business interruption coverage, the issue here is not whether they have the coverage, but whether they are...
United Fire Estimates $10 Million in Q1 Cat Losses
Apr 15 2011 // Cedar Rapids, Iowa-based United Fire & Casualty Co. announced that it will record $10 million in pre-tax losses related to certain first quarter catastrophe losses incurred in the company’s assumed reinsurance...
San Francisco 1906 Earthquake: What If It Happened Today?
Apr 14 2011 // Seismologists predict a major earthquake, similar in size to the 1906 quake, can hit the San Francisco area at any time. With inflation and exposure added, the total property loss if such an event occurred today could be...
P/C Industry Depends Too Much on Catastrophe Models, Says Pioneer Clark
Apr 14 2011 // Catastrophe models are a great risk management tool for property/casualty insurers but even the person who created the first one is worried that they are being given more credit and influence than they deserve. Karen Clark...
Baldwin & Lyons Predicts $15.5M Loss from International Catastrophes
Apr 13 2011 // Indianapolis, Ind.-based property and casualty insurer Baldwin & Lyons Inc. announced that, based on preliminary information received from its ceding reinsurers, the estimated after tax loss associated with first...
Japan Insured Losses Up to $34 Billion: RMS
Apr 12 2011 // The March 11 Japan earthquake and tsunami are likely to have caused up to $34 billion in losses for the global insurance industry, catastrophe modeling company RMS said Tuesday. RMS said the magnitude 9.0 quake and...
Tokyo Nuclear Plant Company Could Face $23 Billion in Losses
Apr 12 2011 // Tokyo Electric Power could face 2 trillion yen ($23.6 bln) in special losses in the current business year to March 2012 to compensate communities near its crippled nuclear plant, JP Morgan said in a research report...
Report: Health Plans in Midwest Will Struggle with Medical Loss Ratio
Apr 8 2011 // HealthLeaders-InterStudy, a provider of managed care market intelligence, reports that some health insurers in Illinois, Iowa, Kansas and Missouri will have trouble meeting the minimum medical loss ratio (MLR) requirements...
