Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Profit Plunges at West Virginia’s Brickstreet Mutual
Mar 11 2010 // Competition and the expiration of federal tax exemption cut BrickStreet Mutual Insurance Co.’s profit by 66 percent in 2009. The workers’ compensation insurer says it earned $38.9 million last year, compared to...
Swiss Re Estimates Chile Quake Loss at $500 Million; Xynthia $100 Million
Mar 10 2010 // Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates...
Reinsurers Say $4 to $7 Billion Chile Quake Loss ‘Unlikely’ to Raise Rates
Mar 10 2010 // Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader...
Florida’s Homeowners Choice Reports Profitable Q4, Year 2009
Mar 10 2010 // Homeowners Choice Inc., a Florida-based homeowners’ insurer, reported a profitable fourth quarter and year 2009. Net income for the fourth quarter of 2009 was $807,000, compared to net income of $5.1 million for the...
PartnerRe Gives Loss Estimates for Chile Quake, Windstorm Xynthia
Mar 9 2010 // Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on...
Texas Catastrophic Weather Losses Totaled $2.5B in 2009
Mar 7 2010 // Texas in 2009 experienced weather catastrophes that resulted in more insured losses than any other state. Texas experienced 10 weather catastrophes in 2009 that caused nearly $2.5 billion in losses. The next highest state...
Large Brokers Freed to Go After Contingent Commissions But Will They?
Mar 7 2010 // The nation’s largest insurance brokers have received the go-ahead to begin accepting contingent commissions again – but two of them say they won’t do it. Officials in New York, Illinois and Connecticut...
Fitch Sees Chile Quake Losses Unlikely to Impact P/C Insurance Ratings
Mar 5 2010 // Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on...
CRM Holdings Reports $19 Million Net Loss in Q4
Mar 5 2010 // CRM Holdings Ltd., a specialty provider of workers’ compensation insurance products, announced it had a net loss of $19 million in the fourth quarter of 2009. In the same period in 2008, the compnay had a net loss of...
AIR Estimates Windstorm Xynthia Insured Losses at $2 to $4.1 Billion
Mar 3 2010 // Catastrophe risk modeling firm AIR Worldwide has estimated that insured losses in France, Belgium, Germany, and Netherlands from winter storm Xynthia will be between €1.5 billion and €3 billion [$2 to $4.1...
Amerisafe Net Income Rises Despite Premium Decreases in Q4 2009
Mar 3 2010 // DeRidder, La.-based workers’ compensation insurer Amerisafe Inc. reported net income of $6.6 million in the fourth quarter of 2009, an increase of 15 percent over the $5.7 million recorded in the fourth quarter of...
Catastrophe Firms Analyze, Estimate Losses from Chilean Quake
Mar 2 2010 // Catastrophe modeling firms Air Worldwide, Risk Management Solutions and EQECAT have all released preliminary analysis and estimates of the economic and the insured losses from the devastating 8.8 magnitude earthquake that...
Social Service Organizations in Tough Economic Times
Mar 2 2010 // It’s no secret that nonprofits are feeling the effects of a battered economy. Donations are down. State and federal funding are also down. Insurance providers say they are keeping a close watch on changing exposures...
Kansas Storm Related Losses in 2009 Surpass Those of Previous Year
Mar 1 2010 // Insured losses in Kansas in 2009 that resulted from storms are higher than the record set during 2008, the Kansas Insurance Department reports. In 2009, storm-related losses based on some 137,000 insurance claims are...
AIG To Pay $8 Million to Settle Lawsuit Over Oregon Pension Fund Losses
Feb 26 2010 // The Oregon Public Employee Retirement Fund will recover losses that were attributable to a pattern of poor disclosure and bid-rigging by insurance giant American International Group Inc. (AIG), under a settlement announced...
Allianz 2009 Net Income up 13% at $6.4 Billion
Feb 26 2010 // Germany’s Allianz Group posted preliminary figures for 2009, indicating that its net income rose by 13.2 percent to €4.7 billion [$6.4 billion]. Revenues were up up 5.2 percent to €97.4 billion [$132.5...
AIG Reduces Q4 Loss; Reports Some Stabilization While Challenges Remain
Feb 26 2010 // American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008. The company said that net loss in the...
Employers Holdings Reports Net Income of $11.3 Million
Feb 25 2010 // Employers Holdings Inc. reported fourth quarter 2009 net income of $11.3 million compared with $15.9 million in the same period in 2008, a decrease of $4.6 million. Pre-tax income in the fourth quarter increased $13.8...
Texas Catastrophic Weather Losses Totaled $2.5B in 2009
Feb 25 2010 // Texas in 2009 experienced weather catastrophes amounting to more insured losses than any other state. Last year, Texas experienced 10 weather catastrophes that caused nearly $2.5 billion in losses. The next nearest state...
Architect Not Liable for Economic Loss in Construction Defect Case
Feb 25 2010 // A property owner cannot sue an architectural firm for economic losses because of negligent design in a construction defect case, the Arizona Supreme Court has ruled. Issuing its decision in Flagstaff Affordable Housing...
