Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
S&P: Insurance Industry Not Crippled by WTC Attack
Sep 17 2001 // Standard & Poor’s announced that the direct financial losses relating to the disasters will in all likelihood exceed the largest insured losses ever yet seen. “Any attempt to quantify the financial impact...
HCC Comments on WTC Tragedy, Anticipated Impact on 3Q Results
Sep 17 2001 // Stephen L. Way, chairman and CEO of HCC Insurance Holdings Inc., in commenting on Tuesday’s disaster, said, “Most importantly, let me state that all of us at HCC send our thoughts and prayers to all the...
Terrorist Attack Paralyzes Economy; Insurers Face Largest Catastrophe Ever
Sep 17 2001 // The coordinated terrorist attacks in New York’s lower Manhattan and Washington, D.C., last week targeted indisputable symbols of American prestige and military power: the World Trade Center and the Pentagon. The...
Hollywood and The Insurance Industry
Sep 17 2001 // Once upon a time in a country far, far away, a few visionaries (and yes, a few con artists) laid the foundations of the multi-billion dollar motion picture industry. It required taking considerable risks, and still does....
Nonprofits Especially Need Protection Against D&O Liability Risks
Sep 17 2001 // Although Directors’ and Officers’ liability insurance (D&O) often is associated with large for-profit companies, they are not the only ones that need it. Many people hold the common misperception that...
Study Says Insurers at Risk for Losses from Cyber-Security Breaches
Sep 17 2001 // Sloppy cyber-security practices in the online distribution of policies and services may leave insurers, their business partners and their customers vulnerable to massive losses. In addition, insurers are potentially...
Claims Payments Assured, Despite Huge Losses
Sep 14 2001 // As messages of sympathy continued to pour in from around the world, the global insurance industry began facing up to the daunting task of paying claims on what most observers believe will be the largest insured loss ever...
AXA Announces 1st Half Results, Estimates
Sep 14 2001 // France’s AXA Group announced that its 1st half earnings had reached €1.222 billion ($1.11 billion) a 12.4 percent increase over comparable figures for the year 2000. The company noted that its buyout of the...
Global Insurance System Has Financial Strength to Handle Losses, I.I.I. Says
Sep 14 2001 // The global insurance system has the financial strength to handle the losses from the terrorist attacks of Sept. 11, according to the Insurance Information Institute (I.I.I.). Insurance losses from the attacks will be...
SCPIE Operations Not Affected by Loss of Office
Sep 14 2001 // SCPIE Holdings Inc., one of the nation’s leading providers of healthcare liability insurance, announced that its operations have not been affected by the tragic attack on the World Trade Center. Although the...
NAII Releases Follow-Up on Insurance Ramifications of Attack
Sep 13 2001 // As rescue efforts continue in lower Manhattan, Washington, D.C., and Pennsylvania, catastrophe teams from property/casualty insurance companies are poised to enter the damaged areas to begin assessing the damage and paying...
RLI Expects Limited Losses, Is Fully Operational
Sep 13 2001 // RLI Corp. executives said that the company does not expect a significant number of insurance claims from Tuesday’s attacks in New York City and Washington, D.C. The company has a limited number of risks in these...
Are Fine Arts Floaters A Silver Lining in the Insurance Market Cloud’
Sep 10 2001 // Unlike many lines of insurance, the fine arts and collections market has so far managed to avoid the difficulties of a hardening environment. But is it robust enough to carry the industry through tough times? Maybe not,...
Lloyd’s Insurers Facing Loss Crisis
Sep 7 2001 // Lloyd’s recent announcement of projected 1999 losses in the $2 billion range (see IJ Website, Aug. 30) is beginning to have a more immediate impact on some of its insurance syndicates. Yesterday Cotesworth &...
2000 Market Share For Insurers in Texas
Sep 3 2001 // The books are closed on 2000 Texas premium and loss information for the insurance industry. IIAT’s annual review of market share data contains a few surprises, some good news and some bad news. Here are the...
Are Fine Arts Floaters A Silver Lining in the Insurance Market Cloud’
Sep 3 2001 // Unlike many lines of insurance, the fine arts and collections market has so far managed to avoid the difficulties of a hardening environment. But is it robust enough to carry the industry through tough times? Maybe not,...
Lloyd’s Confirms Loss Figures
Aug 30 2001 // Lloyd’s of London yesterday confirmed previously published reports that it would have losses exceeding $3 billion for the years 1998-99 with a projected loss in 1999 of nearly $2 billion. 2000 figures are expected to...
Australia’s QBE Posts Profit Gains for 1st Half
Aug 30 2001 // Helped by recent acquisitions, QBE Insurance, Australia’s second largest general insurer after NRMA, posted a strong 56 percent gain in interim net profits to A$122 million (U.S.$64.4 million) for the first half of...
$2.8 Billion – Latest HIH Loss Estimate
Aug 28 2001 // The loss estimates for Australia’s HIH continue to mount. Last May they appeared to have leveled off at around U.S.$2.1 billion, but new information released by the liquidators now show they could go as high as U.S....
Lloyd’s Sees Return to Profitability Despite Losses, Reduced Capacity
Aug 22 2001 // According to the latest report from the Association of Lloyd’s Members (ALM), which represents most of the individual investors, or “Names,” in Lloyd’s syndicates, the market should return to...
