Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
West Virginia’s Loss is Virginia’s Gain in Greenbrier Resort Dispute
May 27 2008 // A Washington-based insurance trade organization has shifted two May conferences to The Homestead, a Hot Springs, Virginia, mountain resort. A nearby tavern is hosting sold-out dinner parties, and alcohol sales are soaring...
Best Affirms Hartford’s ‘A+’ Ratings
May 27 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the Hartford Insurance Pool and its P/C members. Best also affirmed the...
Travelers Forecasts 2008 Operating Earnings at Lower Range
May 23 2008 // Travelers Companies Inc., one of the largest U.S. property insurers, said Thursday that a a “fine tuning” of its investment outlook gives it a bias towards the lower end of a previous forecast for operating...
Even Rich Feel Pinch as U.S. Economic Woes Move Up Income Ladder
May 22 2008 // The lifestyles of the rich may be set for a downgrade as the U.S. economic malaise works its way up the income ladder, according to a survey released Wednesday. The sharp slide in confidence among lower-income households...
China Quake Estimates: 50,000 Dead; $9.5 billion in Company Losses
May 20 2008 // China’s government says companies suffered 67 billion yuan (US$9.5 billion; €7 billion) in direct losses from last week’s earthquake. The announcement by a deputy industry minister, Xi Guohua, came during a...
Greenberg’s Starr Foundation Sues AIG Over Credit Losses
May 19 2008 // The Starr Foundation, controlled by former American International Group Inc. Chief Executive Maurice “Hank” Greenberg, has sued the insurer, claiming it misrepresented its exposure to credit default swaps. The...
Suhr Risk Services: Driven to Excel
May 19 2008 // Strategic client reduction helps the company to provide a concierge-level of service When a company loses more than half of its clients, that could portend a demise in business. But that’s not always the case,...
Nine Catastrophes to Cost P/C Insurers $3 Billion in First Quarter
May 19 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35 billion for first-quarter property losses resulting from nine catastrophes. The nine events identified as catastrophes by the...
International First Quarter Earnings Gone With the Credit Crunch
May 19 2008 // Myanmar’s disaster and a 100-year, $800 billion plan to combat climate change The cruelest months for many insurers, reinsurers and brokers, were undoubtedly the end of April and the beginning of May when they...
Employers Holdings Reports Decline in Q1 Earnings
May 16 2008 // Reno, Nev.-based Employers Holdings Inc. reported net income for the first quarter in 2008 was $25.5 million, down from the $27.9 million earned in the same period in 2007. First quarter net premiums earned declined $13.9...
Catlin Q1 Results in-Line with Forecasts
May 16 2008 // The Bermuda-based Catlin Group Limited, which also does business in the U.S. and the Lloyd’s Market, has released an interim earnings statement, following the Company’s Annual General Meeting, indicating that...
Greenlight Re Posts Q1 Loss
May 16 2008 // Cayman Islands-based Greenlight Capital Re, Ltd. has reported a net loss of $4.8 million for the first quarter of 2008 compared to a net loss of $13.1 million for the same period in 2007. On a fully diluted per share...
RMS Estimates China Quake Property Losses Could Reach $15 Billion
May 15 2008 // As the magnitude of the earthquake that struck China’s Sichuan Province on Monday, and the extent of the damage it caused, becomes more apparent, the loss estimates from the quake have escalated rapidly. Risk...
Study: Moderate Income Households an Untapped Insurance Market
May 15 2008 // Many low- and moderate-income households need more insurance and want to know more about it, according to a recent study by the Federal Reserve Bank of Chicago. Overall, these consumers hold positive views about insurance,...
AIR Estimates China Quake Insured Losses Likely to Exceed $300 Million
May 14 2008 // Catastrophe risk modeling firm AIR Worldwide has issued an estimate that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140 billion ($20...
Fireman’s Fund Adds Green Coverage for Manufacturers
May 14 2008 // Fireman’s Fund’s made available a new green coverage endorsement for manufacturers that want to reduce water and energy use, and lower their overall carbon footprint. The company is offering insurance premium...
Hiscox Posts Mixed Q1 Results
May 13 2008 // Bermuda-based Hiscox Ltd. Posted mixed results, which it nonetheless described as “a good start to the year,” despite a 10 percent drop in total gross written premiums – from £358.4 million ($701.6...
Liability Costs for Long Term Care Industry Stabilize, Aon Reports
May 13 2008 // An Aon Corp. analysis of liability in the long term care industry found for the first time in nine years of reporting that liability costs are stable on a national average basis. The study found that average general...
Dresdner Posts Q1 Loss; Allianz Confirms Profit Decline
May 9 2008 // Dresdner Bank stayed in the red in the first quarter after writing down €845 million ($1.3 billion) on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two. Dresdner...
Eastern Insurance Reports Improved Workers’ Comp Results
May 9 2008 // Eastern Insurance Holdings, Inc., based in Lancaster, Pa., reported net income of $2.6 million for the first quarter of 2008, compared to net income of $3.2 million for the same period in 2007. The company said highlights...
