Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Transatlantic Holdings Estimates Q1 Cat Losses at $355 Million
Apr 7 2011 // Transatlantic Holdings (TRH) announced that it expects to incur total net catastrophe costs (net of reinstatement premiums and reinsurance) in the first quarter of 2011 of approximately $355 million, net of tax, based on...
XL’s Japan Quake/Tsunami Loss Estimates – $190 to $290 Million
Apr 5 2011 // XL Group plc announced that its preliminary net loss estimates for the March 11, 2011 earthquake and tsunami in Japan, pretax and net of reinsurance and reinstatement premiums, “range from approximately $190 million...
Business Income: It’s Really Easy
Apr 4 2011 // Few insurance coverages illicit such fear or visceral reaction as does business income coverage (aka time element). Without being too glib, business income concepts are actually simple to understand and explain to your...
Georgia Seeks Waiver from Medical Loss Ratio Rule
Apr 4 2011 // Georgia is requesting a waiver from a key element of the federal healthcare overhaul that sets how much of health insurance premiums must be spent on medical care. Insurance Commissioner Ralph Hudgens said he wants a...
Reinsurance Rates May Rise with Japan Loss Estimates
Apr 4 2011 // Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, as one analyst said reinsurers did not appear to be raising rates fast enough to compensate for the March...
Calif. State Fund Reports Net Income of $171 Million
Apr 1 2011 // California State Compensation Insurance Fund has announced that it ended 2010 with $1.1 billion in new premium earned, and $171 million in net income. The company’s online annual report shows that State Fund’s...
Ariel Re Estimates Q1 2011 Cat Losses between $35-$50 Million
Apr 1 2011 // Bermuda-based Ariel Reinsurance Company, the reinsurance subsidiary of Ariel Holdings Ltd., announced that its initial estimate of losses incurred from catastrophe events in the first quarter of 2011 – the...
AIR Releases New Northwest Asia-Pacific Area Wide Typhoon Model
Mar 31 2011 // Catastrophe modeling firm AIR Worldwide has released an enhanced typhoon model for the Northwest Pacific Basin. AIR said the “model, which was released in Version 12.5 of AIR’s CLASIC/2™ and CATRADER®...
Lloyd’s ‘Confident’ It Can Cope with Japan Claims
Mar 30 2011 // The Lloyd’s of London insurance market is confident it can deal easily with claims from Japan’s earthquake even though natural disasters almost halved its profit last year. Lloyd’s said its businesses had...
Lloyd’s Annual Report: $3.5 Billion 2010 Profit; ‘Solid’ Says CEO
Mar 30 2011 // Lloyd’s of London announced an overall profit of £2.195 billion ($3.522 billion) for 2010, a significant decrease from the record £3.868 billion (more than $6.2 billion) it recorded in 2009. The earnings report...
9 Alternatives to Individual Health Insurance Mandate; Will They Work?
Mar 29 2011 // There are alternatives to the controversial federal government mandate that requires almost everyone to purchase health insurance, although experts are divided over how effective the alternatives might be in helping to...
2010 Nat Cats, Disasters Cost $218 Bn – $43 Bn Insured; Says Swiss Re
Mar 29 2011 // According to Swiss Re’s latest sigma study, worldwide economic losses from natural catastrophes and man-made disasters were $218 billion in 2010, more than triple the 2009 figure of $68 billion. The losses cost the...
AIR Worldwide Estimates Japan Insured Losses up to $30 Billion
Mar 25 2011 // Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, forecasting the insurance industry will have to pay out $20 billion to $30 billion in claims. That...
Allianz Nat Cat Analysis: Economic Growth a Major Factor for Increased Losses
Mar 24 2011 // Experts on natural catastrophe risk at Allianz have highlighted the growing trend in insured losses arising from natural catastrophes worldwide in a risk briefing – the “Allianz Risk Pulse: Focus Natural...
Insurer Shares Relatively Unaffected by Japan Damage Estimates
Mar 23 2011 // Insurer shares largely shrugged off the industry’s first round of damage estimates from this month’s earthquake in Japan, which may prove to be the world’s costliest disaster. Munich Re and Hannover Re,...
