Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurers See Lower 3Q Income, S&P Revises Life Insurer Outlook
Oct 10 2008 // U.S. life insurers Lincoln National Corp. and ACE Ltd reassured investors that they have enough capital, but credit rating agency Standard & Poor’s cut its outlook for the industry on Friday. The Progressive...
Endurance Releases Hurricane, Financial Loss Estimates
Oct 8 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced its initial loss estimate related to Hurricanes Ike and Gustav at around $145 million pretax and net of reinsurance and reinstatement premium. The company also...
Mercury General To Report Q3 Results on November 3
Oct 8 2008 // Los Angeles-based Mercury General Corp. reported will release results for its third quarter ended Sept. 30, 2008, and will host an investor conference call and Webcast that same day at 10 a.m. Pacific Time (1:00 P.M....
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
ID Theft Insurance: Oasis or Mirage?
Oct 6 2008 // Is It Worth Recommending to Valued Agency Clients? A client concerned about identity theft might consider moving to the Dakotas. It’s best to stay away, however, from Arizona, California, Nevada, Texas, Florida and...
XL Gustav, Ike Losses $195 to $270 Million; Minimal Investment Loss
Oct 3 2008 // Bermuda’s XL Capital Ltd. has announced preliminary net loss estimates for Hurricanes Gustav and Ike, as well as the effect on its investment portfolio from Lehman Brothers, Washington Mutual, Fannie Mae and Freddie...
ACE Estimates Gustav, Ike Losses at Around $315 Million
Oct 3 2008 // ACE Limited announced from its headquarters in Zurich that it estimates net after-tax losses in the third quarter for the ACE Group of Companies from catastrophes, including Hurricanes Gustav and Ike, will amount to...
Low Income, Elderly in 6 Texas Cities to Receive Smoke Alarms
Oct 1 2008 // Firefighters in six Texas cities will be installing smoke alarms into the homes of low income and elderly residents thanks to this year’s We’re Out to Alarm Texas smoke alarm campaign. The program now in its...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
A.M. Best: Economic Climate May Trigger a Turn in U.K. Cycle
Sep 30 2008 // Underwriting margins in the United Kingdom remain under pressure in 2008, despite positive rate movement in some sectors, according to a report by A.M. Best, which also suggested that the economic downturn could ultimately...
AIR Estimates China Typhoon Insured Losses at $100 to $250 Million
Sep 29 2008 // Catastrophe risk modeling firm AIR Worldwide estimates that insured losses to onshore properties in China from both wind and precipitation-induced flooding from Typhoon Hagupit will be between $100 million and $250...
Axis Gustav-Ike Losses $310- $430 Million; Details Investment Exposure
Sep 29 2008 // Bermuda-based AXIS Capital Holdings Limited announced that preliminary net loss estimates for Hurricanes Gustav and Ike range from approximately $310 million to $430 million, net of reinstatement premiums. Axis’...
President Clinton Spotlights LeapFrog, First Microinsurance Firm
Sep 28 2008 // At the Clinton Global Initiative Annual Meeting last week in New York City, former President Bill Clinton announced the launch of LeapFrog Investments, the world’s first investment firm to focus on the insurance...
California Workers’ Comp Insurance Rating Bureau Reports Q2 Results
Sep 26 2008 // The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released its summary of the second quarter insurer results, which ended June 30, 2008. The report lists the following...
Lloyd’s Six Month Profits Fall 47.5% to $1.76 Billion
Sep 25 2008 // Lloyd’s has reported interim results, which show a marked decline in profits for the first six months of 2008. Nonetheless, compared to what’s been happening in the global financial sector (where Lloyd’s...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Sep 24 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
Max Cap Details Gustav, Ike Losses; Interim Investment Results
Sep 23 2008 // The Bermuda-based Max Capital Group Ltd. announced preliminary estimates of claims for Hurricanes Gustav and Ike that range from approximately $35 million to $50 million, net of reinstatement provisions. Max Cap said the...
CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations
Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...
Hannover Re Gustav Losses Around $146 Million
Sep 22 2008 // Wilhelm Zeller, Chief Executive Officer of Hannover Re, indicated, in a meeting at the recent Reinsurance Rendezvous in Monte Carlo, that industry wide losses from hurricane “Gustav”, would be in the range of...
Hurricane and Political Seasons Stir Up National Cat Plan Proposals
Sep 22 2008 // As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and...
