Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Sen. Nelson Seeks U.S.Help on Florida Hurricane Losses
Mar 25 2009 // U.S. Sen. Bill Nelson has asked the U.S. Treasury to provide assurances to private market lenders that any loans they make in Florida would be repaid at fair market interest in the event of a catastrophe. Nelson, however,...
Lloyd’s Posts $2.78 Billion 2008 Profit
Mar 24 2009 // Lloyd’s announced an overall profit for 2008 of £1.899 billion ($2.78 billion), a 50 percent drop from the £3.846 billion ($5.64 billion) it posted in 2007, but given current economic conditions, a...
Texas Homeowners’ Combined Loss & Expense Ratio Estimated at 165.0
Mar 24 2009 // The Texas Department of Insurance released the “Texas Homeowners Insurance Loss Data 1992-2008” report, which shows an estimated incurred loss ratio for 2008 at a record high of 127.0, and a combined loss and...
Economy Affects Oregon Workers’ Compensation Division Revenue
Mar 24 2009 // Like most businesses and organizations in Oregon, the Department of Consumer and Business Services (DCBS) announced it is being impacted by the economic recession. Because DCBS programs are funded by fees and assessments...
How Much is Your Agency Worth?
Mar 23 2009 // Most of the calls from prospective insurance agency sellers start with, “What are agencies selling for these days?” or “What kind of multiple can I expect if I sell my agency?” Insurance agencies...
General Liability Losses, Expenses Likely to Rise Rapidly
Mar 23 2009 // The general liability line of insurance has produced industry-wide combined ratios below 100 percent for the past two years, but this profitable underwriting performance is unlikely to continue, analysts say. General...
Greener Opportunities
Mar 23 2009 // Insurers Compete for a Growing Green Industry Jim Henson’s famous Kermit the Frog said it the best, “it’s not easy being green.” Today’s property owners and insurers understand that while...
Best Affirms ACE Limited and Subsidiaries ‘A+’ Ratings
Mar 23 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based ACE Bermuda Insurance Ltd. and ACE Tempest Reinsurance...
What is Your Agency Worth?
Mar 23 2009 // Most calls from prospective insurance agency sellers start with, “What are agencies selling for these days?” or “What kind of multiple can I expect if I sell my agency?” Insurance agencies are like...
Swiss Re <em>sigma</em> Study Tallies Catastrophic 2008
Mar 18 2009 // Swiss Re has just released its latest sigma study, which details the toll of disasters that made 2008 “one of the worst years for catastrophe losses” according to the report. More than 240,500 people lost their...
Allianz Posts $3.21 Billion 2008 Loss
Mar 18 2009 // Germany’s Allianz SE has released its full year figures for 2008, which show a net income loss of €2.444 billion ($3.21 billion), compared to 2007’s record net income of €7.966 billion ($10.46...
Main Street America Reports $44 Million Underwriting Profit in 2008
Mar 16 2009 // Florida-based Main Street America Group reported it achieved a $43.6 million underwriting profit in 2008, the largest in its 85-year history and 38 percent higher than its 2007 underwriting profit of $31.7 million. The...
Ohio Windstorm Losses in Feb. Reach Nearly $89M; Ike Losses Rise
Mar 16 2009 // Ohio’s Feb. 11-12 windstorm caused at least $88.9 million in damages, based on preliminary insured loss estimates from the Ohio Insurance Institute (OII), an insurance industry trade group. Widespread losses were...
U.S. Firms Seek Trade Credit Insurance to Protect Revenues
Mar 13 2009 // As the global economy remains in recession, a growing number of U.S. manufacturers and distributors are looking for effective ways to protect their revenue streams. In particular, firms marketing their goods and services...
Study: General Liability Losses, Expenses Likely to Rise Rapidly
Mar 12 2009 // The general liability line of insurance has produced industry-wide combined ratios below 100 percent for the past two years, but this profitable underwriting performance is unlikely to continue, analysts report. General...
Brit Posts Lower Profit – $125 Million; Looking at Dutch Domicile
Mar 9 2009 // Brit Insurance, a diversified UK-based insurer posted lower profits for 2008, but still managed a respectable £89.2 million ($125 million), compared to £191.2 million ($267 million) in 2007. The Company’s...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Mar 9 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
Analysis: AIG Meltdown Has Roots in Greenberg Era
Mar 9 2009 // Maurice “Hank” Greenberg’s legacy as the man who built AIG into the world’s largest insurer was tarnished by a 2005 probe but questions about whether he created a financial monster that subsequently...
UK’s Aviva Posts $1.258 Billion Loss
Mar 6 2009 // The UK’s Aviva PLC, Europe’s biggest provider of life insurance and pension products, booked a net loss for 2008, due to a drop in the value of assets amid the financial crisis, which caused the company’s...
New York Regulator Says AIG Securities Lending Losses Manageable
Mar 5 2009 // The securities lending unit of American International Group Inc. was being successfully wound down and had manageable losses if not for the firm’s massive credit default swap exposure, New York Insurance...
