Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
RMS Updates Insured Loss Estimate for Hurricane Isabel to $600M
Sep 24 2003 // Risk Management Solutions (RMS) released a revised loss estimate of $600 million for wind-related claims from Hurricane Isabel, updating its initial estimate of $500 million released on Sept. 17. The company also reported...
Midland Sees At Least $10 Million in Isabel Losses
Sep 23 2003 // Cincinnati, Ohio-based Midland Co. announced that it estimates its losses from Hurricane Isabel will likely be in the range of $10 million to $15 million (pre-tax), which after the benefit of reinsurance, would impact...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 22 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by Dec. 31, 2002, compared to $8.5...
Non-Profits, Public Entities Battle Market Conditions
Sep 22 2003 // As some in the industry see profits and smoother sailing ahead, other markets are having a tougher time. In a look at the non-profits and public entities markets, Insurance Journal spoke with several experts in those...
Worksite: An Opportunity to Boost Revenue, Broaden Portfolio
Sep 22 2003 // In the face of rising healthcare costs, agents and brokers who sell employer-paid benefits might consider adding worksite to the mix. Worksite — a way of selling individual insurance policies to groups of employees at...
NAIC Releases Proposed 2004 Budget
Sep 22 2003 // The National Association of Insurance Commissioners (NAIC) released its proposed budget for the year 2004 during its Fall National Meeting and announced a public hearing to discuss the budget via a conference call...
Non-Profits, Public Entities Battle Market Conditions
Sep 22 2003 // As some in the industry see profits and smoother sailing ahead, other markets are having a tougher time. In a look at the non-profits and public entities markets, Insurance Journal spoke with several experts in those...
2002 Market Share for Insurers in Texas
Sep 22 2003 // The 2002 premium and loss data for Texas provides hope for the future of Texas insurance markets. Here are the highlights in review: • The aggregate loss ratio for all Texas companies for all lines of business was 78.4...
EMC’s Reserve Boost Reduces 3Q Earnings by $3 Million
Sep 21 2003 // Des Moines, Iowa-based insurer EMC Insurance Group Inc. announced that it will strengthen its bulk loss and settlement expense reserves by approximately $4.6 million in the third quarter of 2003. This increase in reserves...
RMS Estimates Industry Losses of $500M from Hurricane Isabel
Sep 18 2003 // Risk Management Solutions (RMS) projected that Hurricane Isabel could cause insured losses in the $500 million range if the storm continues on its current track toward Cape Lookout in North Carolina. If the storm makes...
Fitch Affirms XL Capital Ltd. Ratings
Sep 17 2003 // Fitch Ratings has affirmed XL Capital Ltd.’s (XL) long-term issuer and senior debt rating at ‘A+’, and preferred stock rating at ‘A’. Fitch has also affirmed the ‘AA’ insurer...
CAT-i, RISK-i Reports Offer Information on Losses
Sep 16 2003 // Guy Carpenter & Company, Inc., a global risk and reinsurance specialist, announced the availability of CAT-i and RISK-i reports on the company’s Web site (www.guycarp.com), which provide periodic updates on...
A.M. Best Says P/C Industry Maintains Improving Results, Staying Power Questioned
Sep 16 2003 // The property/casualty industry reported robust premium growth and considerably improved underwriting results during the first six months of 2003 over the comparable period of 2002. Driving these results reportedly are the...
Insurers Sue Terror Supporters for 9/11 Losses
Sep 10 2003 // Dozens of insurance companies, acting as members of five large insurance groups—Chubb, American Re, Zurich American, One Beacon and Crum & Forster—have filed a lawsuit in two cities against Al Qaida and other...
Munich Re Posts Fifth Consecutive Quarterly Loss, as Taxes Hit Profits
Sep 8 2003 // Germany’s Munich Re can’t seem to buy a break. Despite good gains in operating profit, 777 million euros ($845 million) in the first six months of 2003, the world’s biggest reinsurer posted its fifth...
ISO Says P/C’s Net Worth Continues to Decline Despite Rising Profits
Sep 8 2003 // While strong underwriting results propelled the property/casualty industry to profitability in 2002, insurers have not fully recovered from anemic premium growth of the 1990s and Sept. 11 losses, according to a...
Cadillac Escalade SUV as Top Theft Target, Worst Overall Theft Losses
Sep 8 2003 // According to the latest report from the Highway Loss Data Institute (HLDI), an affiliate of the Insurance Institute for Highway Safety, the Cadillac Escalade SUV has the most frequent theft claims among 2000-02 model...
CLAUDETTE LOSSES AT $90M
Sep 8 2003 // The Insurance Council of Texas reported that Hurricane Claudette, which hit the Texas coast in July, caused an estimated $90 million in insured losses. Claudette came ashore July 15, striking land at Port O’Connor...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 5 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by December 31, 2002, compared to $8.5...
CNA Surety Announces $15 Million Loss on Claim
Sep 4 2003 // CNA Surety Corp. announced today that it recently received a claim notification on a $19.5 million insurance program bond. This commercial surety bond supports the credit obligations of a principal to a third party...
