Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Fitch Takes Fairfax Off Credit Watch; Affirms Ratings
Sep 26 2005 // Fitch Ratings announced that it has affirmed the ratings of Canada’s Fairfax Financial Holdings, Ltd. with a stable out look, and has removed the ratings from its negative credit watch. “The rating action...
St. Paul Travelers Issues Hurricane Katrina Loss Estimates
Sep 26 2005 // The St. Paul Travelers Companies Inc. announced that its preliminary estimate for losses relating to Hurricane Katrina is approximately $800 million, after tax and after the impact of reinsurance, and including the cost of...
RMS: Hurricane Rita’s Insured On-Shore, Off-Shore Losses Expected to be $4-$7 Billion
Sep 25 2005 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has estimated that insured losses from Hurricane Rita are likely to range from $4 to $7 billion, based on current...
RMS Model Shows Increased Risk of Extreme U.S. Terrorism Losses
Sep 22 2005 // According to Risk Management Solutions’ fourth annual U.S. Terrorism Risk Model, the risk of extreme terrorism-related events over the next five years, including terrorist attacks using chemical, biological,...
RLI Estimates Katrina Losses
Sep 22 2005 // RLI Corp. announced an estimated range of pretax losses from Hurricane Katrina of $15 million to $19 million, net of reinsurance ($0.37 to $0.47 per diluted share, after tax). This is based on projections by the...
IPC Holdings Unveils Early Estimate of Katrina Losses
Sep 22 2005 // Bermuda-based IPC Holdings, Ltd. announced that it expects third quarter 2005 earnings to be significantly impacted by Hurricane Katrina. According to a company release, “Based upon a preliminary analysis of the...
AXIS Capital Provides Estimates of Katrina Losses
Sep 21 2005 // Bermuda-based AXIS Capital Holdings Ltd. announced its initial estimates of net losses related to Hurricane Katrina to be between $500 million and $650 million. The company also reiterated its earlier guidance that these...
N.C. Agriculture Losses $19.6M From Hurricane Ophelia
Sep 21 2005 // Hurricane Ophelia resulted in damages to North Carolina’s agricultural industry amounting to $19.6 million, based on reports tabulated from 13 counties. According to the North Carolina Department of Agriculture and...
PXRE Estimates Katrina Impact at $235 to $300 Million; Sees 2005 Loss
Sep 20 2005 // The Bermuda-based PXRE Group Ltd. has updated its estimates of potential losses from Hurricane Katrina to between $235 to $300 million, “after tax, reinsurance recoveries on its outwards reinsurance program and the...
AIG: Q3 CAT Losses Expected to be About $1.1B After-Tax
Sep 20 2005 // American International Group Inc. has issued an initial estimate of its total expected losses relating to third quarter catastrophe events, principally Hurricane Katrina, totaling approximately $1.1 billion after-tax. AIG...
Fitch: Katrina Causes Unprecedented Challenges/Risks for P/C Insurers
Sep 19 2005 // Circumstances surrounding Hurricane Katrina are unprecedented in many ways, said Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance...
AFG Notes Preliminary Katrina Losses
Sep 19 2005 // American Financial Group Inc. has issued a preliminary estimate of its expected loss from Hurricane Katrina. Based on information available at this time, AFG estimates that its after-tax loss, net of reinsurance, will be...
Climate Change Poses Major Threat to U.S. Insurance Industry
Sep 19 2005 // Report Warns of Dire Consequences Unless Industry, Government Act Hurricane Katrina is a reminder that U.S. insurers, government and consumers are at great risk from escalating losses from hurricanes and other...
Writing Wineries Requires More Than Just a Tasting
Sep 19 2005 // To be successful, you must thoroughly drink in all the details. Insuring wineries may sound like a lucrative and growing business. All 50 states now produce wine, and the business has a total economic impact of $33...
Surveying the Damage: After Katrina, Can the Industry Withstand Another Disaster?
Sep 19 2005 // Hurricane Katrina could be called an industry nightmare. Some insurers were still reeling from the effects of the Asian tsunamis and last year’s four hurricanes. Yet when Katrina struck in late August, she forced...
International Newsbriefs
Sep 19 2005 // European Insurers Estimate Katrina Losses: A disaster the scope of Hurricane Katrina hits everybody, not just U.S. carriers. The following are some of the preliminary estimates of anticipated losses from a number of...
Arch Capital Estimates Q3 Katrina Impact at $110 to $160M
Sep 19 2005 // Bermuda-based Arch Capital Group Ltd. announced that it expects third quarter operating earnings to be negatively impacted by the effects of Hurricane Katrina in the range of $110 to $160 million, after tax. “These...
Imagine Katrina Losses App. $17 Million
Sep 19 2005 // Imagine Group Holdings Limited announced from its Bermuda headquarters that it anticipates losses, net of reinstatement premiums and retrocessional recoveries, from Hurricane Katrina to be approximately $17 million. The...
VESTA PREDICTS ITS KATRINA LOSSES
Sep 19 2005 // Preliminary gross income losses of from $500,000 to $1.2 million have been predicted by the Vesta Insurance Group of Birmingham, Ala. for damages caused by Hurricane Katrina. Vesta’s Florida Select unit has about...
Climate Change Poses Major Threat to U.S. Insurance Industry
Sep 19 2005 // Hurricane Katrina is a reminder that U.S. insurers, government and consumers are at great risk from escalating losses from hurricanes and other weather-related events, according to a report by a Boston-based investor and...
