Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Fitch: P/C Profits Decline Sharply in First-Half 2008
Sep 22 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008. Profitability declined due to poor investment performance and deteriorating accident-year underwriting results, which...
Early Estimates of Ike Damage: $6B to $18B
Sep 22 2008 // The Real Numbers Won’t be Known for Weeks Estimates of insured damage from Hurricane Ike vary widely — from $8 billion to $16 billion, according to several catastrophe risk modeling firms, but Texas Insurance...
AIG’s First Half Showed Slump
Sep 21 2008 // American International Group Inc., which was bailed out by an $85 billion government loan last week, not only has posted billions of dollars in losses in its financial services operations but its more traditional insurance...
Platinum Puts Gustav Losses at $15 Million
Sep 19 2008 // Bermuda-based Platinum Underwriters Holdings announced that its initial loss estimate from Hurricane Gustav of approximately $15 million, net of reinstatement premiums and tax benefit. The Company stressed that the...
Flagstone Re: Gustav, Ike Losses Around $85 Million, Investment Commentary
Sep 17 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that its preliminary estimate of claims relating to its exposure to Hurricane Gustav are currently expected to be approximately $30 million, and exposure to...
S&P’s Analysis of Hurricane Season Finds Mounting Losses
Sep 16 2008 // Following Ike’s march through Texas, S&P noted that the preliminary estimates of insured losses “vary from $6 billion to $18 billion. (These figures include onshore and offshore exposure.)” Before...
Bermuda Association Explains Reinsurance Risk Spreading Role
Sep 15 2008 // “The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the...
Best Upgrades Allianz Global Specialty, Allianz France
Sep 15 2008 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “aa” from “a+” of Allianz Global...
Bank Insurance Brokerage Earnings Break Highest Mid-Year Level
Sep 15 2008 // Mid-year earnings from bank insurance brokerage hit their highest level ever in the first half of 2008. Bank insurance brokerage earnings in the first six months of 2008 were $2.12 billion, up 6.4 percent from $1.99...
RMS Estimates Ike Insured Losses up to $200 Million – So Far
Sep 12 2008 // Risk Management Solutions estimates that the damage wreaked by Hurricane Ike in the popular Turks & Caicos Islands and Bahamas at between $50 million and $200 million. RMS said the majority of the losses were due to...
PartnerRe Estimates Gustav Losses Between $25 to $45 Million
Sep 12 2008 // Bermuda-based PartnerRe Ltd. announced that its preliminary estimate of claims relating to its exposure to Hurricane Gustav are currently expected to be between $25 and $45 million on a pre-tax basis, net of reinstatement...
La. Commissioner: Insured Gustav Losses Estimated at $1.7B
Sep 9 2008 // Louisiana’s insurance commissioner estimates insured losses from Hurricane Gustav will be $1.7 billion. Jim Donelon says he projects that figure from the losses reported thus far by the state-backed Louisiana...
Workers’ Comp Loss Costs in Kentucky Good News for Employers
Sep 8 2008 // A 2008 filing most insurance carriers will use to develop rates for workers’ compensation coverage shows the third straight decrease in loss costs, Department of Insurance Commissioner Sharon P. Clark announced. The...
Rendezvous Roundup: Guy Carpenter; Aon Global Re; Munich Re
Sep 8 2008 // The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the...
S&P, Best: Gustav’s Impact Minimal – But Storm Losses are Cumulative
Sep 3 2008 // Both Standard & Poor’s Ratings Services and A.M. Best have issued statements following the passage of Hurricane Gustav, which indicate that the storm’s impact on the industry will not be nearly as severe...
Analyst Sees Gustav Insured Loss Coming In Below Early Estimates
Sep 2 2008 // Hurricane Gustav could trigger insurance claims of up to $10 billion, according to early computer-modeled estimates of damage from the storm, but at least one analyst thinks the final tab could be lower. Gustav, which made...
Gustav Insurance Losses Significant but ‘Manageable,’ Less than Katrina’s
Sep 2 2008 // Hurricane Gustav, which came ashore southwest of New Orleans on Monday morning, is expected to trigger significant insurance claims but far less than record-setting Katrina did three years ago. “This is a...
Gustav Impact Limited But Losses from Moderate Catastrophes Add Up
Sep 2 2008 // Gustav may not wallop the property/casualty insurance industry the way Katrina did but there is still concern in insurance and reinsurance circles over the continued pile-up of catastrophe losses. Standard &...
Estimate of Insured Losses from Gustav Between $2 and $4.5 Billion
Sep 2 2008 // One risk modeling firm estimates that insured losses to onshore properties in the U.S. are between $2 billion and $4.5 billion, with an expected loss of $3 billion due to Hurricane Gustav. According to AIR Worldwide...
