Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Munich Re Estimates Japan Quake, Tsunami Claims over $2 Billion
Mar 23 2011 // Munich Re announced that it has estimated its claims burden from the earthquake and tsunami in Japan at around €1.5 billion [$2.128 billion], after retrocession and before tax. As a result Munich Re said its...
Hannover Re Estimates Japan Quake, Tsunami Losses at $355 Million
Mar 23 2011 // Hannover Re announced that, “based on its analysis of individual treaties,” its loss expenditure from the Japan earthquake is expected to be around €250 million [$355 million] after retrocessions and before...
Platinum Estimates NZ Quake, Aus. Flood Losses at $160 Million; Assessing Japan
Mar 23 2011 // Bermuda-based Platinum Underwriters Holdings has announced that it currently expects the 2011 Australian floods and Cyclone Yasi and the 2011 New Zealand earthquake will “have a net negative impact of approximately...
AXIS Estimates NZ Quake, Aus. Flood Losses at $275 to $315 Million
Mar 22 2011 // AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will...
10 Most Profitable Industries
Mar 21 2011 // Of course, an industry or company might be fast-growing but what’s really important is if it is profitable. According to Sageworks, as expected, industries relating to construction suffered the most in 2010. The most...
AIG Estimates $1 Billion in Q1 Catastrophe Losses, Most from Japan
Mar 20 2011 // American International Group Inc. said it would post an estimated $1 billion in pre-tax catastrophe losses in the first quarter, mostly from exposure to the March 11 earthquake in Japan. AIG said its exposure would be...
Lloyd’s Chaucer Lowers NZ Quake, Aus. Flood Loss Estimates; Assessing Japan
Mar 18 2011 // Chaucer Holdings PLC, the specialist Lloyd’s insurance group, has announced that it has reduced its best estimate for claims arising from the 2010 New Zealand earthquake and Australian floods. Chaucer previously...
Everest Re Puts NZ Quake Losses at $140 to $210 Million; CEO Comments on Japan
Mar 18 2011 // The Bermuda-based Everest Re Group announced that its preliminary loss estimate for exposures relating to the earthquake that occurred near Christchurch, New Zealand in February is “in the range of $140 million to...
Endurance Estimates $15 Million Aus. Flood Loss; $45 Million NZ Quake
Mar 18 2011 // Bermuda-based Endurance Specialty Holdings Ltd. announced that its “initial loss estimate related to the floods which occurred in Queensland, Australia in January of 2011 is $15 million.” The specialty...
Alterra Gives Estimates Aus. Floods, Cyclone Yasi, NZ Quake Losses
Mar 18 2011 // Bermuda-based Alterra Capital Holdings Limited has announced initial loss estimates for three recent natural catastrophe events. Alterra said the estimates are “$5 to $8 million related to the Australian floods in...
Georgia Seeks Waiver from Medical Loss Ratio Rule
Mar 17 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...
EQECAT Updates Japan Quake/Tsunami Analysis; Insured Losses $12-$25 Billion
Mar 17 2011 // Insured losses from the magnitude 9.0 earthquake and tsunami that struck Japan last Friday are between $12 billion and $25 billion, according to catastrophe modeler EQECAT. In its latest update, the firm describes the...
RenRe Estimates Australia Flood Losses $30 Mn; NZ Quake $190 Mn
Mar 17 2011 // Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian...
U.S. Western Tsunami Losses Climb
Mar 16 2011 // As states in the West clean up tsunami damage, loss estimates are climbing, according to local officials. In Hawaii, the estimate — tallied by Gov. Neil Abercrombie’s office to be in the millions — combines...
Montpelier Re Estimates $75 Mn NZ Quake Losses; $15 Mn Australian Floods
Mar 16 2011 // Bermuda-based Montpelier Re Holdings announced that its preliminary pretax net loss estimate from the February New Zealand earthquake will be around US$75 million, net of reinstatement premiums. The Company added that its...
Best Comments on Rating Impact of Japanese Earthquake/Tsunami
Mar 16 2011 // A.M. Best Co. has issued a bulletin indicating that it does not “expect an immediate rating impact on Japanese non-life insurers and reinsurers due to the March 11, 2011 earthquake in Japan. However, the...
PPIB Launches Weight Loss, Artisan Contractors Programs
Mar 15 2011 // PPIB of Novato, Calif., has launched two new programs: one for weight loss centers and one for artisan contractors. The weight loss program is open to anyone who can legally prescribe certain weight loss products and the...
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares
Mar 15 2011 // Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts...
Arch Estimates NZ Quake Loss at $35-$70 Million; Assessing Japan
Mar 15 2011 // The Bermuda-based Arch Capital Group announced that the Company’s 2011 first quarter results will be negatively impacted by the New Zealand earthquake, which occurred in February 2011, in the range of $35 million to...
