Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Crop Reinsurers’ Profit Could Fall 30% Under USDA Changes, Says Aon
Apr 12 2010 // Proposed cuts in the agreement crop insurers have with the federal government would likely reduce reinsurers’ expected profit by 20 to 30 percent, which could lead to some companies withdrawing from the program or...
Earnings Pressure Encouraging Corporate Fraud in India: Survey
Apr 6 2010 // The incidence of corporate fraud, particularly financial statement fraud, is rising in India, largely due to pressure to meet earnings targets and weak internal control systems, a survey by consultancy KPMG showed. More...
Experts Estimate $300 Million in Losses from Mexico Earthquake
Apr 6 2010 // Damage estimates from Sunday’s 7.2 magnitude earthquake in Mexico, just south of California, are not expected to exceed $1 billion, and insured losses should not exceed $300 million, according to risk modeling firm...
Top 10 Internet Frauds
Apr 5 2010 // Online crime complaints increased substantially last year, with the number of fraud complaints jumping 22.3 percent and total losses linked to online fraud reaching almost $560 million. That’s according to the...
Hospitality Risks: A Game for Captives
Apr 5 2010 // Why a Captive Solution Might Grow Your Hospitality Book, and Revenue Too Hospitality owners have concerns with retaining risk that they cannot transfer to the insurance market and owners are looking for legitimate ways to...
Willis: Cat Losses in Q1 2010 Deliver Worst Ever for Reinsurers
Mar 31 2010 // For the first time in many years the first quarter 2010 results of reinsurers will be worse than the results of their primary insurance company clients thanks in part to unprecedented catastrophe losses. Some $16 billion...
United Heartland Names Bartelme Director of Loss Control
Mar 30 2010 // Workers’ compensation insurer, United Heartland, in New Berlin, Wis., has appointed Rick Bartelme as director of Loss Control. Bartelme is responsible for implementing United Heartland’s comprehensive approach...
Best Affirms Hartford’s ICR – Outlook Negative; Other Ratings Affirmed
Mar 29 2010 // A.M. Best Co. affirmed the issuer credit rating (ICR) of “bbb+” of The Hartford Financial Services Group, Inc. with a negative outlook. The rating agency also affirmed the FSRs of ‘A’ (Excellent)...
Wisconsin-based Capitol Insurance Reports Strong 2009 Results
Mar 26 2010 // Capitol Insurance Companies (Capitol), a Middleton, Wis.-based national provider of specialty property-casualty insurance and commercial surety products, reported a strong year of underwriting profitability for the year...
Marsh Joins Aon, Willis in Rejecting Contingent Commission Income
Mar 25 2010 // Giant insurance broker Marsh says its main brokerage unit will not accept contingent commissions on business for U.S. or Canadian clients but its Marsh & McLennan Agency and its affinity and personal lines business...
Lloyd’s Posts 2009 Profits of $5.8 Billion
Mar 24 2010 // Lloyd’s announced overall pretax profits of £3.868 billion [$5.796 billion] for 2009, doubling the £1.899 billion [$2.84 billion] it reported for 2008. The record results were achieved despite ongoing...
Argo Group Estimates Q1 2010 Cat Losses at $25 to $35 Million
Mar 23 2010 // The Bermuda-based Argo Group International Holdings announced that it expects its initial loss estimate from first quarter 2010 catastrophe events that have occurred to date will be $25 to $35 million, net of reinstatement...
Terrorism Coverage in the Everyday World
Mar 22 2010 // Because of the threshold amount, many acts of domestic terrorism may not be certified. Even under the TRIA, insurers may exclude coverage for loss resulting from ‘non-certified’ acts of terrorism. After the...
Some Red Flags in Residential Arsons Fly Before the Fire
Mar 22 2010 // Financial stress is the No. 1 reason residential dwellings are intentionally torched, but proving arson is not that easy. Only around 6 percent of arson offenses in 2007 resulted in convictions, according to the Federal...
Key Features of Healthcare Reform Passed By House
Mar 22 2010 // The U.S. House of Representatives approved a sweeping $940 billion healthcare overhaul Sunday in a two-step process that sends a Senate version of the bill to President Barack Obama for his signature and a package of...
XL Estimates Chile Quake, Xynthia Losses at $160 to $230 Million
Mar 18 2010 // XL Capital Ltd’s preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia indicated they will total between $160 and $230 million. Preliminary loss estimates related to the Chilean...
SCOR’s Preliminary Quake, Storm Loss Estimates Around $130 Million
Mar 18 2010 // French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax,...
P/C Industry Operating Profits Up Markedly in 2009: Fitch
Mar 18 2010 // Operating profits improved substantially during 2009 across the U.S. property/ casualty insurance industry, with most market participants reporting double-digit operating returns on capital, according to Fitch Ratings in a...
S&P Revises Hartford’s Outlook to Negative; Debt/Hybrids Assigned Ratings
Mar 17 2010 // Standard & Poor’s Ratings Services has assigned its ‘BBB’ issue rating to Hartford Financial Services Group Inc.’s (HIG) proposed $1.1 billion senior debt offering. S&P assigned a...
Swiss Re ‘sigma’ Study: Insured 2009 Disaster Losses Cost $26 Billion
Mar 16 2010 // Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America,...
