Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Trenwick Ups Terror Loss Estimates to $100 Million
Oct 5 2001 // Bermuda’s Trenwick Group Ltd. announced that it has revised its overall loss estimates from the September 11 terrorist attacks from $50-$75 million to $100 million net of reinsurance recoveries. “On an after...
Ren Re Estimates $50 Million WTC Loss, But Continued Profitability
Oct 4 2001 // Bermuda’s Renaissance Re reported that its net losses as a result of the September 11 attack on the World Trade Center would be around $50 million and would impact third quarter earnings, but said that it still...
PartnerRe, Max Re See 3Q, Full Year Losses
Oct 4 2001 // Two Bermuda-based reinsurers, PartnerRe and Max Re, have indicated that they expect to show loss results for both the third quarter and probably the full year, caused for the most part by the direct and indirect effects of...
A.M. Best Issues Comment and Rating Implications of Sept. 11 Attacks
Oct 2 2001 // Since the morning of Sept. 11, A.M. Best Co. has been gathering public and private information in order to assess the financial impact as well as the nuances of insurance coverage associated with the tragic attacks. To...
Maryland Tornado Losses Top $30 Million
Oct 1 2001 // The damage to public and private property from the tornado which ravaged Prince George’s and Howard Counties last week has been preliminarily estimated at $31.7 million. No indications have yet been made concerning...
National Insurance Task Force Appoints New Chair, Works to Expand Accessibility in Lower-Income Comm
Oct 1 2001 // The National Insurance Task Force (NITF) appointed Clayton Adams, vice president of Community Development of State Farm Insurance Companies, as its chair. The NITF, which was convened by Neighborhood Reinvestment...
Alleghany Estimates Lloyd’s Losses at $112M
Oct 1 2001 // Alleghany Insurance Holding LLC’s parent company announced that it estimated its subsidiary would have losses of around $112 million net of reinsurance from the Sept. 11 attacks in the U.S. AIH, previously known as...
Latest Loss Estimates on WTC Disaster
Sep 28 2001 // The most recent loss estimates from the attacks on the United States show the scope of the tragedy, as insurers in London, Canada, and Bermuda made estimates of their potential damage exposures. Lloyd’s Cox Insurance...
Chubb Introduces Comprehensive EPL Loss Prevention Program
Sep 28 2001 // The Chubb Group of Insurance Companies is rolling out a comprehensive loss prevention program that will help more than 100,000 customers protect themselves against employment-related lawsuits. The program offers policies...
Erie Indemnity Estimates Exposure from National Tragedy
Sep 28 2001 // Erie Indemnity Company announced that its share of catastrophe losses stemming from the tragic attacks of September 11th is expected to amount to between $5.5 and $6.7 million before federal income taxes. The after-tax...
Rising Loss Estimates Heighten Concern for the Stability of Some Insurance Sectors September 28, 20
Sep 28 2001 // In light of rising estimates of losses from the World Trade Center tragedy, some sectors of the insurance industry could suffer significant damage to their financial stability, according to a new assessment by Weiss...
Christie Pabarue: WTC Losses May Spark High Failure Rate Among Reinsurers; Additional Strain on Insu
Sep 28 2001 // At a time when the economy is looking for significant capital investment, one of the major players, the insurance industry, may be put on the sidelines because of losses relating to the World Trade Center, according to...
Lloyd’s Puts Losses from U.S. Disasters at
Sep 27 2001 // Lloyd’s of London said Tuesday that it had completed a review of the potential loss liabilities from more than 100 of its 108 active underwriting syndicates and estimated that its overall net exposure from the...
Toulouse Explosion Losses May Total $840 Million
Sep 27 2001 // AGF, the French insurance arm of Germany’s Allianz, announced that it expected total loss exposure from the explosion last Friday of a chemical factory in the Southwestern city of Toulouse to be between € 610...
Hiscox Estimates Loss from U.S. Attacks at
Sep 26 2001 // The U.K.’s Hiscox Plc, which writes business through the Lloyd’s market and independently, released its estimate that the Sept. 11 attacks in the U.S. would cost it around £20 million ($29.25...
Phoenix Sets Loss Figures, Confirms Claims Procedures
Sep 26 2001 // The Phoenix Companies of Hartford confirmed that the Group expected losses from the September 11 attacks of around $5 million net of reinsurance, and detailed a number of expedited procedures to help customers affected by...
Fitch Completes Ratings Analysis Following Terrorist Attacks
Sep 26 2001 // Fitch completed the initial phase of its ratings review of insurance and reinsurance companies exposed to losses from the terrorist attacks of Sept. 11 in the United States. Findings have been issued on 16 insurance...
Baldwin & Lyons Inc. Reports Losses Relating to World Trade Center
Sep 26 2001 // Indianapolis-based Baldwin & Lyons Inc., through its subsidiary, Protective Insurance Company, assumes reinsurance from other insurance and reinsurance companies. As a result of the terrorist attacks on the World...
ACE Increases Loss Estimates from Terrorist Attacks
Sep 25 2001 // Bermuda’s ACE Ltd. increased its estimates of anticipated losses from the terrorist attacks in the U.S. from $400 million to $550 million, citing additional reinsurance claims as the principal factor. The...
Navigators Estimates Losses from Terrorist Attack
Sep 25 2001 // The Navigators Group Inc. estimates its after tax net loss from the September 11th terrorist attack on the World Trade Center to be approximately $5 million. The loss comes primarily from business underwritten at the...
