Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
2007 Cat Losses Top $70 Billion Swiss Re <em>sigma</em> Study Finds
Mar 12 2008 // Swiss Re’s latest sigma study – “Natural Catastrophes and man-made disasters in 2007” – examines catastrophe-related economic losses from natural and man-made disasters last year, which...
Things to Consider When Estimating Subprime D&O Losses
Mar 10 2008 // Several observers and analysts have recently tried to estimate the insurance industry’s aggregate subprime-related loss exposure. At one end, Bear Stearns has estimated the industry’s exposure at $8 billion to...
State Farm Reports 3% Profit Increase For 2007
Mar 10 2008 // Bloomington, Ill.-based State Farm Insurance announced that profit rose 3 percent last year on the strength of higher auto policyholder dividends despite a steep decline in property casualty underwriting. The company said...
Storm Losses Blamed on Coastal Growth, Not Global Warming
Mar 10 2008 // A hurricane that hit Miami in 1926 would cause up to $157 billion in damage if it were to strike today, according to a recent study. U.S. storm costs are rising because of higher populations and wealth on the coasts, not a...
Hedging Against Losses
Mar 10 2008 // How to navigate risk and find coverage solutions for hedge funds and their managers Hedge funds manage financial risk every day. Managers constantly seek out new strategies and investments, and then weigh the potential...
Credit Crisis Throws AIG Into ‘Uncharted Waters’
Mar 10 2008 // American International Group, on the heels of reporting its largest-ever loss, said that the subprime crisis had thrown it into “uncharted waters” that were likely to remain choppy through 2008. The...
Fortis Q4 Profits Down 50%
Mar 7 2008 // Dutch-Belgian financial services group Fortis said its profit halved in the fourth quarter after a €1.5 billion ($2.3 billion) subprime-related writedown. Net profit, which also included gains from Fortis’ 2007...
AIR Estimates Emma Insured Losses at $1.15 to $2 Billion
Mar 7 2008 // AIR Worldwide’s preliminary estimates of onshore wind losses for Windstorm Emma are between €750 million and €1.3 billion ($1.15 and $2 billion), significantly higher than the insured loss estimates released by...
RMS Puts Emma Losses at $458 Million to $1.1 Billion
Mar 5 2008 // Risk Management Solutions released preliminary loss estimates, following an analysis of the insured exposure from Windstorm Emma (See IJ web site –...
Hiscox 2007 Net up 18% to $471M
Mar 4 2008 // Bermuda-based Hiscox Ltd. posted a strong profit gain in 2007. Results, released yesterday, March 3, showed a record setting £237.2 million ($471 million) pretax profit, compared to £201.1 million ($399.5 million) in...
RMS Ups UK Quake Loss Estimates: $30 to $60 Million
Mar 3 2008 // Risk Management Solutions has given updated estimates of the likely insured losses caused by the earthquake that struck Market Rasen in Lincolnshire in Northeast England on Thursday (See IJ web site –...
Swiss Re Profit Down Less than Expected
Feb 29 2008 // Swiss Re, the world’s biggest reinsurer, made better than expected 2007 net profit, as it escaped further subprime writedowns in the fourth quarter, and gave a confident earnings outlook. It reported on Friday a...
AmComp Announces 2007 Fourth Quarter and Year-End Figures
Feb 29 2008 // Florida-based AmCOMP Inc., announced results for the fourth quarter and 2007 year-end results. For calendar year 2007, net income increased 13.7 percent to $18.8 million, compared to net income of $16.6 million for the...
Berkshire Net Down 18%; Buffett Eyes Successors, Lower Insurance Earnings Ahead
Feb 29 2008 // Warren Buffett’s Berkshire Hathaway Inc. said Friday quarterly profit fell 18 percent, hurt by lower earnings from insurance underwriting and a decrease in investment gains. In his annual letter to Berkshire...
AXA Earnings: Net Income up 11% to $8.55 Billion; Conference Call Today
Feb 28 2008 // France’s AXA Group reported strong results for 2007. The earnings release cited the growth in underlying earnings up 27 percent to €4.963 billion [$7.5 billion] (up 15 percent on a comparable basis). Adjusted...
Lexington Insurance Co. Sues to Recoup Losses in Iowa Mansion Fire
Feb 27 2008 // An insurance company that insured a $3 million Bettendorf house destroyed in a fire is suing several businesses to recover its losses. Lexington Insurance Co. blames the fire on the contractors who built the home, the...
AIG Expected to Post Rare 4Q Loss on Write-Down
Feb 27 2008 // American International Group , the world’s largest insurer, is expected to report a quarterly loss Thursday, with crippled mortgage investments taking a $5 billion bite out of its derivatives...
QBE Net Profits up 30% to US$1.786 Billion
Feb 26 2008 // Australia’s QBE Insurance Group announced that operating profit after tax for the year ended 31 December 2007 was up 30 percent to a record A$1.925 billion ($US1.786 billion). Other key highlights for the year were...
CNinsure Reports Q4, FY Financial Results
Feb 26 2008 // China’s CNinsure Inc. has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007. The bulletin noted that the earnings announcement “contains translations of...
Coastal Growth, Not Global Warming, Blamed for Rising Storm Losses
Feb 25 2008 // A hurricane that hit Miami in 1926 would cause up to $157 billion in damage if it were to strike today, according to a recent study. U.S. storm costs are rising because of higher populations and wealth on the coasts, not a...
