Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
MAPFRE Earnings up 18.7% to $1.078 Billion; Revenues at $35.32 Billion
Feb 12 2014 // Spain’s MAPFRE Group announced that its earnings for 2013 rose by 18.7 percent, to €790.5 million [$1.078 billion], while total revenues rose by 2.3 percent to €25.889 billion [$35.32 billion]. The earnings...
MMC’s Marsh 4Q Revenue Jumps 4% to $1.4B
Feb 11 2014 // Marsh & McLennan Cos. reported $303 million in net income for its 2013 fourth quarter, up 17 percent from $259 million posted during the prior-year fourth quarter. The full year 2013 net income was $1.4 billion, up...
Mass. AG Office Says 7.7% Workers’ Comp Rate Hike Unnecessary
Feb 11 2014 // At a recent public hearing, Massachusetts Attorney General Martha Coakley’s office expressed its opposition to the workers’ compensation average rate increase proposal and argued that the rate should be lowered...
Insured Property Losses for Central Texas Halloween Floods Top $30M
Feb 11 2014 // Final figures released by the Federal Emergency Management Agency (FEMA) show that insured losses to residential and commercial property from flood waters which swamped Central Texas on Halloween night 2013 totaled...
Brown & Brown Reports Record 4Q Net Income of $47.2M
Feb 11 2014 // Florida-based broker Brown & Brown Inc. recently announced results for fourth quarter of 2013, including a 10.8 percent increase in net income to a record $47.2 million, compared with $42.6 million for the same quarter...
U.K. Towns Face More Floods as Insurer Losses Estimated at $1.6 Billion
Feb 11 2014 // Waterlogged towns on the River Thames west of London braced for more floods as rains persisted across southern England and Deloitte LLP said the storms may cost insurers £1 billion ($1.6 billion) by April. The Environment...
P/C Insurers’ Net Income Up 60%, Combined Ratio at 97.6 for 2013: A.M. Best
Feb 10 2014 // A relatively quiet year for catastrophes helped the U.S. property/casualty industry achieved an underwriting profit for the first time in four years, according to A.M. Best. The industry managed its way to a nearly 60...
CNA Selling Continental Life, Group Business to Wilton Re
Feb 10 2014 // CNA Financial Corp. said it is selling its life and group insurance business, Continental Assurance Co., to a subsidiary of Wilton Re Holdings Ltd. CNA said it expected net proceeds of about $615 million from the sale and...
Catlin Group Increases Net Income to $392 Million in 2013
Feb 10 2014 // The Bermuda-based, London headquartered, Catlin Group announced very good financial results for the year ended December 31, 2013, with a 27 percent increase in profit before tax to $432 million, compared to $339 million in...
Small Increase in Nevada Workers’ Comp Loss Costs in 2014
Feb 10 2014 // Many Nevada employers will see a small increase in the premiums they pay for workers’ compensation insurance this year. The average premium increase in the voluntary market will be about 3.2 percent. Nevada employers...
How to Encourage Private Sector Flood Insurance
Feb 10 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
Hannover Re Confirms 2014 Profit Forecast despite Decreased Revenues
Feb 7 2014 // Hannover Re, the world’s third- biggest reinsurer, confirmed its profit target for this year even as the prices it charges customers for coverage fell. “Although the rate level in non-life reinsurance was...
Montpelier Reports $73.4 Million Q4 Net Income; FY $191.2 Million
Feb 7 2014 // Bermuda-based Montpelier Re Holdings Ltd. reported net income of $73.4 million for the fourth quarter of 2013, compared to a net loss of $26.6 million in the same period last year. For the full year 2013 the company...
Mass. Proposes Corporate Tax for Insurer-Owned Pass-Through Entities
Feb 6 2014 // As part of his administration’s plan for new tax revenues, Massachusetts Gov. Deval Patrick recently proposed applying a corporate tax rate to the state’s “pass-through entities” that are owned by...
Hanover Insurance Group Swings to Q4 Profit a Year After Sandy
Feb 6 2014 // The Hanover Insurance Group Inc. in Worcester, Mass., reported net income of $70.1 million for its 2013 fourth quarter, improving from a net loss of $55.0 million during the 2012 fourth quarter. Prior-year loss results...
Allied World Reports $137.9 Million Q4 Net Income; $417.9 for FY 2013
Feb 6 2014 // Allied World Assurance Company Holdings, AG reported net income of $137.9 million, or $4.01 per diluted share, for the fourth quarter of 2013 compared to a net loss of $41.1 million, or $1.17 per diluted share, for the...
XL Group Posts $300.8 Million Q4 Net Income; $1.1 Billion Full Year
Feb 6 2014 // XL Group announced a good fourth quarter and an excellent year from its Dublin headquarters. Highlights for the two accounting periods were listed as follows: • Operating net income of $286.9 million, or $1.00 per share,...
European Banks have $3.4 Trillion of Exposures to Emerging Markets
Feb 5 2014 // European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South...
RSA Hires Ex-RBS Boss Hester as CEO after Irish Losses
Feb 5 2014 // RSA Insurance Group Plc has hired former Royal Bank of Scotland Group Plc CEO Stephen Hester to lead the U.K. insurer as it seeks to put a scandal at its Irish unit behind it. Hester, 53, succeeds Simon Lee, who quit the...
