Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Survey of Analysts Projects Healthy Underwriting Profits
Dec 23 2007 // I.I.I.’s Earlybird Forecast predicts negative premium growth but continued profitability in 2008 Next year may go down on record as one of the best insurance industry underwriting performances in the past 80 years,...
Safeco To Discuss Quarterly, Year-End Results during Webcast
Dec 21 2007 // Seattle-based Safeco will be hosting a live Internet broadcast of its conference call to discuss fourth-quarter and year-end financial results on Thursday, Jan. 31 at 5 p.m. EST. A live Webcast of the presentation will be...
Airline Insurance Market to Post Loss for Year; First Since 2000
Dec 20 2007 // The airline insurance market this year is expected to post its first loss since 2000, according to preliminary data collected by the Aviation & Aerospace division of Aon Corporation. Aon reported that forecasts...
Allstate’s 4th Quarter Catastrophe Losses of $100 Million Higher than ’06
Dec 20 2007 // Allstate Corp. said Tuesday October’s California wildfires plus other disasters have hiked the insurance company’s fourth-quarter catastrophe losses by about $100 million. Allstate said it received more than...
Preliminary Swiss Re ‘sigma’ Report Estimates 2007 Cat Losses
Dec 19 2007 // Swiss Re has released a preliminary “sigma” report detailing the extent of 2007’s catastrophe losses. According to its initial estimates, more than 20,000 people were killed by natural and man-made...
ACE Earnings Guidance for 2008
Dec 19 2007 // Bermuda’s ACE Limited has announced the following earnings guidance for the ACE Group of Companies for the full year 2008: — Earnings per Common Share are expected to range between $7.00 and $7.50. —...
Allstate Incurs More than $300 Million in Southern California Wildfire Losses
Dec 19 2007 // The Allstate Corp. reported that the company has received more than 7,000 claims from the Southern California wildfires in October of this year, resulting in approximately $315 million to $335 million in wildfire-related...
California Workers’ Comp Insurance Rating Board Reports Q3 Results
Dec 18 2007 // The Workers’ Compensation Insurance Rating Board of California has reported the third quarter results summarizing insurer loss and premium experience through Sept. 30, 2007. “California statewide written...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 17 2007 // Next year may just go down on record as one of the best insurance industry underwriting performances in the past 80 years, according to an industry survey of Wall Street stock analysts and industry professionals. Analysts...
Fla. Home Mitigation Program Grants Won’t Be Taxed as Income
Dec 14 2007 // Grants awarded to Florida homeowners through the My Safe Florida Home program will not be reported as taxable income to the federal government. Florida CFO Alex Sink made the announcement after receiving a Letter Ruling...
Power Returns Slowly in Okla.; Losses from Storm Could Rise to $35M
Dec 13 2007 // The lights are going back on slowly in Oklahoma after a massive ice storm, the insured losses from which could reach $35 million, an insurance industry trade group said. “Insurance claims from ice damage are often...
Best Revises Zurich Outlook to ‘Positive,’ Affirms ‘A’ Ratings
Dec 12 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Zurich Insurance Company (ZIC), the main operating company of...
Banks in Insurance Advance Despite Soft Market, Study Reports
Dec 4 2007 // Despite a soft property and casualty (P/C) insurance market, the top 100 banks in insurance made substantial gains in the past year, says a new report distributed by the Bank Insurance & Securities Association The...
U.S. Personal Lines Insurers Trying To Maintain Profits In Softening Market
Dec 4 2007 // U.S. personal lines insurance sector is at a critical juncture, according to an article published by Standard & Poor’s Ratings Services. The article, which is titled “2008 U.S. Personal Lines Outlook: A...
Catastrophic Events Raise Business Interruption Coverage Questions
Dec 2 2007 // Considering the number of people who lived and worked in the area, the destruction of the World Trade Center complex was the functional equivalent of obliterating a small- to medium-sized city. Several recent and...
Five Trends for Agents to Track
Dec 2 2007 // In a poem written 2,000 years ago by Horace, he used the phrase “carpe diem,” which is commonly translated as “seize the day.” Although interpretations of this phrase vary, one interpretation can...
Safeco Estimates Calif. Wildfire Losses at $35 Million
Dec 2 2007 // Frank Santoya, a member of the California Fire Office of the State Fire Marshall, walks through the rubble as he surveys the fire damage in the Rancho Barnardo neighborhood of San Diego on Oct. 30, 2007 (AP Photo/Rick...
Actuaries Have Special Role When Explaining Credit Scores and Losses
Dec 2 2007 // Despite evidence it is not always clear why there is an association between scores and losses By explaining why there is an association between credit scores and insurance losses, insurers and actuaries can promote a...
Loss Control Crucial to Program Success
Dec 2 2007 // Loss control personnel are not often thought of fondly in customers’ minds, according to Steve Anderson, portfolio executive, risk engineering for the Zurich Program Business Unit of Zurich North America. “We...
Ark. Study: 1 in 10 Will Spend More Than 1/3 of Earnings on Health Care
Nov 30 2007 // One out of every 10 Arkansans belong to a family that will spend more than 25 percent of their pretax earnings on out-of-pocket medical expenses next year, a new study shows. The study by Families USA, a nonprofit,...
