Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
California Work Comp Board: 2013 Losses to Hit 11-year High
May 5 2014 // California workers’ compensation losses and loss adjustment expenses on insured claims injuries and illnesses are projected to hit an 11-year high for 2013, according to the Workers’ Compensation Insurance...
Competition & Best Practices Results
May 5 2014 // A recent study reviewed in The Economist (Jan. 13, 2014) proved that competition was required to foster business success and progress. This makes sense. Competition is in many ways the “invisible hand” that...
Numbers Don’t Lie: Agency Best of the Best
May 5 2014 // Contingency and Overrides: Focus On It, but Don’t Rely On It Contingency and override income can be a huge driver of agency value. 2013 was a strong year compared to 2011 and 2012 and according to the 2013-2014...
Marsh Revenue Up 5% in 1Q
May 4 2014 // Marsh & McLennan Companies Inc. (MMC) reported underlying revenue growth in the fourth quarter of four percent, an increase in adjusted operating income of 11 percent and continued margin expansion in both its Risk and...
California Water District Heads to Private Market in Face of Insurance Loss
May 2 2014 // It’s beginning look more and more like the Central Basin Municipal Water District in Southern California is going to be taking matters into its own hands in the face of being tossed out of the state’s largest...
Insured Loss Estimate from North Texas Storm Rises to $500M
May 2 2014 // The estimate of insured losses from an April 3 hail and wind storm in Denton, Texas, and nearby cities has risen. The Insurance Council of Texas now estimates that the amount of insured losses will be $500 million rather...
Accounting Class Action Settlements Stable But Associated Market Losses Double
May 2 2014 // The number of accounting case settlements in 2013 increased for the second year in a row, but remained low compared with the previous ten years, according to Cornerstone Research’s latest report According to the...
XL Group Posts $255.7 Million Q1 2014 Net Income; $238.6 Million Operating
May 2 2014 // The XL Group announced from its Dublin, Ireland headquarters that net income for the first quarter of 2014 was $255.7 million, or $0.91 per share, for the quarter on a fully diluted basis, compared to $350.79 million in Q1...
Best Affirms State Automobile Mutual and Operating Subs Ratings
May 1 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of State Automobile Mutual Insurance Company and its operating...
Munich Re’s First Quarter Net Profit Drops by 7%
May 1 2014 // Munich Re’s net profit fell in the first quarter, said its chief executive on Wednesday, hit by low capital market interest rates that continue to weigh on investment income at the world’s largest...
Montpelier Reports $90 Million Q1 Net Income; Operating $72 Million
May 1 2014 // Bermuda-based Montpelier Re Holdings Ltd. Reported operating income for the first quarter of 2014 at $72 million, or $1.48 per common share, representing a quarterly return on common equity of 4.8 percent. Net income was...
AXIS Reports $152.6 Million Pre Tax Q1 Net Income; Operating $137 Million
May 1 2014 // Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the three months ended March 31, 2014, of $137 million, or $1.24 per diluted common share, compared with $303 million, or...
ACE Limited Reports $734 Million Q1 Net Income; $777 Million Operating
Apr 30 2014 // ACE Limited report first quarter, 2014 net income of $734 million, compared to $953 million in Q1, 2013. The decrease came from the capital gain/loss side of the ledger. ACE posted a $207 million capital gain in Q1, 2013,...
Willis Group Reports $246 Million Q1 Net Income; CEO Comments
Apr 30 2014 // Willis Group Holdings plc reported net income of $246 million or $1.35 per diluted share in the first quarter of 2014, compared to net income of $219 million, or $1.24 per diluted share, in Q1, 2013. The report noted,...
Willis to Relocate 3,500 Workers after Profit Misses Estimates
Apr 30 2014 // Willis Group Holdings Plc plans to eliminate jobs and relocate 3,500 employees, or about 16 percent of its workforce, after reporting first-quarter earnings that missed analysts’ estimates. The moves will yield $420...
FEMA Extends ‘Proof of Loss’ Deadline for Sandy Flood Insurance Claims
Apr 29 2014 // The Federal Emergency Management Agency (FEMA) issued a bulletin Monday announcing that it will grant an additional extension to Superstorm Sandy victims for the “proof of loss” filing deadline for their flood...
Hartford Reports Third Straight Quarterly Profit
Apr 29 2014 // Hartford Financial Services Group Inc. weathered a tough winter to achieve its third straight quarterly profit with first-quarter net income of $495 million, compared to a $241 million loss for the first quarter last...
PartnerRe Reports $295.7 Million Q1 Net Income; $176.9 Million Operating
Apr 29 2014 // Bermuda-based PartnerRe Ltd. reported a net income of $295.7 million, or $5.61 per share for the first quarter of 2014. This includes net after-tax realized and unrealized gains on investments of $115.8 million, or $2.20...
Aon Q1 Net Income up 25% to $325 Million
Apr 28 2014 // Aon plc reported results for the three months ended March 31, 2014, posting net income attributable to Aon shareholders of$325 million, or $1.06 per share, compared to $261 million, or $0.82 per share, for the prior year...
Validus Reports Q1 Net Income of $162.4 million
Apr 28 2014 // Bermuda-based Validus Holdings, Ltd. Reported net income available to Validus for the three months ended March 31, 2014 of $162.4 million, or $1.66 per diluted common share, compared to $223.2 million, or $1.90 per diluted...
