Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurance Claims for 2008 U.S. Catastrophes to Top $25 Billion
Jan 20 2009 // U.S. property/casualty insurers are expected to pay homeowners and businesses $25.2 billion for 2008 property losses from 37 catastrophes — the fourth highest cost in a decade and the highest frequency in a decade,...
Munich Re Webinar Provides Insights on Nat Cats, Industry Strength
Jan 16 2009 // Munich Re’s Webinar on Thursday – 2008 Natural Catastrophes – presented a detailed analysis of the increasing number of weather related events that concern both primary carriers and reinsurers. It also...
Mercury General Corp. to Report Q4 Results
Jan 15 2009 // Los Angeles-based Mercury General Corp. announced it will release results for its fourth quarter and twelve month period ended Dec. 31, 2008, at 10 a.m. Pacific Time on February 9. The company will host an investor...
Kentucky Bank Sues Merrill Lynch for $40 Million Over Investment Losses
Jan 12 2009 // Kentucky’s largest state-chartered bank has sued Merrill Lynch for $40 million over failed securities bought through the investment firm. Pikeville-based Community Trust Bank filed the suit in federal court on New...
California Wildfires May Take Longer to Settle
Jan 11 2009 // Industry analysts are predicting insured losses from the Freeway Complex, Sayre and Tea Fires that burned Southern California in mid-November will range from $600 million to $800 million, as of estimates gathered in early...
Estimating Insurance Losses From the Credit Crisis
Jan 11 2009 // On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis, estimating aggregate directors and officers (D&O), and errors and...
Actual Cash Value Versus Replacement Cost Value
Jan 11 2009 // Navigating the Valuation Quagmire As the saying goes, the devil is in the details. And insurance agents would be wise to explain the differences between actual cash value (ACV) and replacement cost value (RCV) to...
Private, Independent and Free
Jan 11 2009 // Ohio-based The Hylant Group Has 12 Locations But Only One Philosophy — Give Customers and Staff What They Need to Succeed Top 100 Agency Profile RANKING: No. 7 Agency Name: The Hylant Group Headquarters: Toledo,...
2008: Top Stories of the Year
Jan 5 2009 // 2008 can be described as a year like no other in the property/casualty insurance world. This year we saw the near death of the world’s largest and most successful insurance company, AIG. The soft market continued to...
Climate Change Raises 2008 Cat Losses to $200 Billion Says Munich Re
Dec 31 2008 // Munich Re has released its annual report on the natural catastrophes that occurred in 2008, which it describes as “one of the most devastating years on record.” 2008’s major catastrophes included a number...
Catastrophe Losses Up 7% in 2008, Making It One of Costliest Years for Insurers
Dec 30 2008 // The high frequency and severity of Atlantic hurricanes in 2008, coupled with other weather-related and man-made losses, placed the year among the costliest on record for insured catastrophe losses. That’s according...
Munich Re 2008 Catastrophe Report Cites Role of Climate Change
Dec 30 2008 // Munich Re has released its analytical report on the natural catastrophes that occurred in 2008, which the reinsurer describes as, “one of the most devastating years on record.” 2008’s major catastrophes...
Best Removes Hartford from Review; Affirms ‘A+’ Ratings
Dec 29 2008 // A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength ratings of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the key life/health...
2008: A Year of Financial Storms
Dec 21 2008 // 2008 can be described as a year like no other in the property/casualty insurance world. This year, the industry witnessed the near death of the world’s largest and most successful insurance company, AIG. The soft...
P/C Profits to Plunge 80% in 2009: Fitch
Dec 19 2008 // The U.S. property/casualty insurance industry is enduring tremendous challenges in 2008 as underwriting and investment losses have promoted a sharp decline in earnings and a material reduction in industry capital. Next...
ACE Releases 2009 Earnings Guidance
Dec 19 2008 // ACE Limited announced the following earnings guidance for the ACE Group of Companies for the full year 2009: — Operating Income per Diluted Share is expected to range between $7.25 and $8.25 — Catastrophe...
Swiss Re Study: 238,000 Dead, Losses $225 Billion from 2008 Catastrophes
Dec 18 2008 // According to initial estimates from the forthcoming Swiss Re sigma study on catastrophes, more than 238,000 people lost their lives to natural catastrophes and man-made disasters in 2008 – the fourth largest number...
Forecast Pioneer Clark Says Short-Term Hurricane Models Overstate Losses
Dec 17 2008 // A new report finds that hurricane risk models designed to predict insured losses in the U.S. from Atlantic hurricanes for the five-year period ending in 2010, significantly overestimated these losses for the cumulative...
S&P Lowers XL and Operating Companies Ratings; Outlook Negative
Dec 16 2008 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on XL Capital Ltd.’s core operating companies to ‘A’ from ‘A+’. S&P also...
Industry Profits Dove Massively through First Nine Months of 2008
Dec 16 2008 // After-tax profits for the U.S. property and casualty industry through the first nine months of the year were $4.1 billion — a 91.8 percent decline from the $50 billion in profits earned the same period a year ago,...
