Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Kiln plc Offers Possible Katrina Impact
Sep 9 2005 // The U.K.’s Kiln plc, a leading Lloyd’s insurer, has issued a preliminary estimate of the possible impact on the company from losses related to Hurricane Katrina. “The loss falls principally on...
Aspen Estimates Katrina-New Orleans Flood Losses at $150 Million
Sep 9 2005 // Bermuda-based Aspen Insurance Holdings Limited announced its initial assessment of the losses sustained from Hurricane Katrina and the “Great New Orleans Flood” would be approximately $150 million. In...
New Orleans Flood Adds $15-$25B in Hurricane Katrina Insured Losses; Total Estimated Losses Rises to $40-$60B
Sep 9 2005 // Risk Management Solutions now estimates that insured losses from Hurricane Katrina are expected to be $40-$60 billion, of which $15-$25 billion are related to the Great New Orleans Flood. Total economic losses may now...
Wellington 1st Half Net Up 78% at $105 Million; Katrina Losses $75 Million
Sep 8 2005 // The U.K.-based Wellington Plc, which operates both in the Lloyd’s market and as a general insurer with several U.S. subsidiary companies, posted impressive first half results with net pre-tax profits up 78 percent to...
Zurich Estimates $100 Million in European Flood Losses; No Estimate Yet on Katrina
Sep 8 2005 // The Zurich Financial Services Group has issued a statement that, based on preliminary estimates, “it expects aggregate claims payments related to the recent floods affecting Switzerland, southern Germany and Austria...
New Report Warns of Rising Threat to Industry from Climate Change
Sep 8 2005 // Hurricane Katrina is a reminder to the U.S. insurance industry, companies, governments and the general public that all are at risk from escalating losses from hurricanes and other weather-related events due to climate...
Brit Announces Record 1st half Results; Industry Katrina Loss $50 Billion
Sep 7 2005 // Brit Insurance Holdings PLC, a U.K.-based Lloyd’s and general insurer, posted record 1st half pre-tax profits of 112.2 million pounds ($207 million), up 61 percent from the same period last year. Brit indicated that...
AXA 1ST Half Group Net Income Up 31% to $2.8 Billion; No Significant Effect from Katrina
Sep 7 2005 // France’s AXA Group said in a “pre-release” statement that its net profits for the group rose by 31 percent for the period ended June 1, 2005 to 2.274 billion euros ($2.844 billion), compared to 1.733...
Amlin 1st Half Profits Up 56% to $247 Million; $110 Million Katrina Loss Estimate
Sep 6 2005 // Amlin, Plc, a leading Lloyd’s insurer, announced record results for the period ending June 30, 2005 with net profits up 56 percent to 134.1 million pounds ($247 million), more than it made for all of last year. The...
Ace Europe Expands IT Loss Protection
Sep 6 2005 // The ACE European Group announced the launch of “Computerguard,” which it described as “the latest in its suite of loss protection products to cover financial losses relating to IT hardware and system...
EMC Predicts Katrina Share Losses
Sep 6 2005 // EMC Insurance Group Inc., Des Moines, Iowa, expects losses associated with Hurricane Katrina to range from $0.28 to $0.32 per share. Losses in the property and casualty insurance segment are expected to range from $3.4...
Got Dispensable Income? The GLBTs Do!
Sep 5 2005 // Tap into this potentially lucrative marketplace with a little gay-friendly marketing …. Why should you target the GLBTpopulation? The GLBT (gay, lesbian, bi-sexual and transgender) population is a powerful, emerging...
Shortcomings of Current Premium Invoice Accounting
Sep 5 2005 // California Insurance Code requires P/C insurance agencies to receive premium funds in a fiduciary capacity. Producer agencies are allowed to transfer earned commissions upon receipt of premium payments. Due to the...
Valuations: Educating Your Client on True Replacement Cost
Sep 5 2005 // There are two calls that an agent or broker might receive that should raise concerns; the first is a call from the IRS audit department and the other is from an insured who says, “I just had a fire.” The reason...
Insurers Address Brokerage Income Directly to Consumer
Sep 5 2005 // Just last week, one of the assistant directors at our firm, Brunie Lugo, was routinely reviewing a client’s renewal quotation she had received, checking it for accuracy, reviewing the pricing and proposed renewal...
Small Business Units Deliver Bread n’ Butter for Peak Performing Agencies
Sep 5 2005 // In the movie “City Slickers,” Billy Crystal’s character is taught he must understand “one thing” that will make his life complete. Along the way he meets a grey-haired cowboy who appears to...
Strategies to Tap into Profitable, New Business Accounts
Sep 5 2005 // Developing new business is an integral part of every insurance agent’s regimen. There are endless ways to go about looking for new business, however, successful agents know how to focus their efforts to engage in the...
‘Sham Declinations’ Leave N.Y. Excess Broker Liable for Insurer’s Losses
Sep 5 2005 // A New York excess lines insurance broker’s use of “sham declinations” to skirt the law on placing coverage with a non-admitted carrier could cost the broker a lot more than just regulatory fines, if a...
Small Business Units Deliver Bread n’ Butter for Peak Performing Agencies
Sep 5 2005 // In the movie “City Slickers,” Billy Crystal’s character is taught he must understand “one thing” that will make his life complete. Along the way he meets a grey-haired cowboy who appears to...
Strategies to Tap into Profitable, New Business Accounts
Sep 5 2005 // Developing new business is an integral part of every insurance agent’s regimen. There are endless ways to go about looking for new business, however, successful agents know how to focus their efforts to engage in the...
