Insurers Eye Ivan the Terrible
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For insurers, though, the third hurricane in almost as many weeks could herald an earnings hit. For Allstate (NYSE: ALL), Chubb (NYSE: CB), and St.
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XL Capital Ltd. and PartnerRe Ltd., companies that help insurers spread risk, said their businesses may benefit from Hurricane Ivan, the third storm in a month that threatens Florida with billions of dollars in damage.
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IT HAS been a rough few years for insurers - and, this week, it just got a lot worse. The attack by Eliot Spitzer, New Yorkâs attorney general, on the probity of the United States insurance industry - and
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Insurers held their breath on Friday as they waited to gain access to areas pounded by Hurricane Ivan, which some predicted at up to $10 billion could become the second-costliest storm in US history.
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Switzerland's insurance industry is bracing itself for multimillion-dollar claims as a result of hurricane damage in the United States.
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If it was a terrible week for Wall Street, and it was a devastating one for companies that promise to protect investors against bond losses.
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One or two insurance companies might not have the financial wherewithal to survive this year&#39;s hurricane season in Florida, said several top industry officials and state regulators.
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ST. MARKS, FLA. - Florida, suffering from a spiraling five-day nightmare named Frances, is anxiously watching Ivan, a major hurricane that could be destined for its shores.
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After Hurricane Ivan pummeled a wide swath of land along the Gulf of Mexico Thursday, some US insurers swamped by the third major hurricane of 2004 might find their profits gone with the wind.
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As hurricane Ivan roared northwards yesterday through the Gulf of Mexico towards landfall in the US as early as this evening, Wall Street analysts warned that the damage could extend beyond buildings into the wider economy.
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Energy markets shuddered Monday with the approach of Hurricane Ivan, bidding up crude oil and natural gas prices as crews scrambled to evacuate production platforms in the Gulf of Mexico.
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Business & money: UK life insurer attempts to streamline its business after seeing its profits virtually wiped out last year
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Insured losses in the United States from  Hurricane Ivan are expected to range from $3 billion to $6  billion, a risk assessment group said on Wednesday.
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St. Paul Travelers Co., the second-largest business insurer in the United States, said Wednesday that it estimates losses from Hurricane Ivan to be about $94 million, and expects the losses to cut third-quarter earnings by about 14 cents per share.
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As hurricanes go, Charley stirred up a lot of trouble. The storm will go down as one of the most destructive in history. But it also stirred up trouble on Wall Street, igniting controversy about whether or not it&#39;s a good time to look at insurers.
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Insured losses in the United States from Hurricane Ivan, which was roaring toward the US Gulf coast on Wednesday, could run between $4 billion and $10 billion, a risk assessment company said.
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Two storms battered the island; Ivan may spare it. Still, residents prepare for worst - or stubbornly plan to stay. By Warren Richey | Staff writer of The Christian Science Monitor.