Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Fitch Affirms Everest Re’s Ratings; Outlook Stable
Nov 17 2011 // Fitch Ratings has affirmed the ratings of Everest Re Group, Ltd.’s debt-issuing holding company, Everest Reinsurance Holdings, Inc. and its subsidiaries. “Everest’s debt ratings are only one notch lower...
SCOR Reports Q3 Net Income of $255 Million; Gains on Transamerica Sale
Nov 15 2011 // French reinsurer SCOR Group announced net income for the third quarter of 2011 of €188 million [$255 million], a 70.1 percent increase from the same period last year, as gross written premiums topped €2 billion [$2.71...
Allianz Q3 Net Profit Hit by ‘Market Turmoil; Figures Show Decreases
Nov 14 2011 // Allianz reported Net income of €258 million [$353.46 million] for the third quarter of 2011, compared to €1.268 billion [$1.737 billion] in Q3 2010, a 79.7 percent drop. For the first nine months of the year...
Nationwide Posts Q3 Loss on Weather, Interest Rates
Nov 14 2011 // Nationwide Mutual reported a third-quarter loss Friday, as the property insurer said it was hurt by investment losses and continuing high levels of claims from natural disasters. Privately held Nationwide, one of the...
Hannover Re Posts $518 Million 9-Month Net Income
Nov 10 2011 // Germany’s Hannover Re expressed satisfaction with the Group’s net income for the first 9 months of 2011, as it posted a profit of €381.7 million [$518.34 million]. Chief Executive Officer Ulrich Wallin noted...
Zurich Reports $3.2 Billion 9-Month Net Income; Operating Profit $3.258 Billion
Nov 10 2011 // Zurich Financial Services Group reported a business operating profit (BOP) for the nine months ended September 30, 2011 of $3.258 billion, an 8 percent decline from 2010, when it posted $3.537 billion. However,...
Tower Group Has $16.4M Q3 Loss, Hurt By CAT Loss From Irene
Nov 9 2011 // Tower Group reported a net loss of $16.4 million attributable to common shareholders in the third quarter. In contrast, the insurer had $28.6 million net income one year ago. Like many other insurers this past quarter,...
Georgia Allowed to Phase-In Healthcare Law’s Medical Loss Ratio
Nov 9 2011 // Health insurers in Georgia have been granted a waiver to a new federal requirement that they spend certain minimums on patient care and quality. U.S. officials on Tuesday announced that Georgia is the eighth state to get...
State Auto Financial Reports Loss of $58.7M in Q3
Nov 9 2011 // Columbus, Ohio-based State Auto Financial Corp. has reported a third quarter 2011 net loss of $58.7 million, or $1.46 per diluted share, versus net income of $0.2 million, or $0.00 per diluted share, for the third quarter...
Markel Posts $54.7M Q3 Income, Sees Firming in Workers’ Comp Market
Nov 8 2011 // Markel Corporation reported $54.7 million for its third-quarter net income, down 13.4 percent from one year ago when the specialty insurer posted $63.2 million. The insurer’s result was hurt by increased catastrophe...
Alleghany Posts $19.2M Q3 Profit, Down 48% From Last Year
Nov 8 2011 // Alleghany Corp. reported $19.2 million in third-quarter net earnings, down 48 percent from one year ago when the company had $36.6 million in earnings. The company’s result reflects the decrease in pre-tax net...
Erie Indemnity Posts $47M Q3 Profit, Down 13% From Last Year
Nov 8 2011 // Erie Indemnity, the managing company for Erie Insurance Group’s reciprocal insurance company, reported $47 million third-quarter profit. Profit is down 13 percent compared to one year ago. The third-quarter 2010 net...
Munich Re Posts $400 Million Q3 Profit in a ‘Difficult’ Year
Nov 8 2011 // Munich Re announced third-quarter profit “in a difficult environment” of €290 million [$400 million], compared to €761 million [$1.05 billion] in Q3 2010. The world’s largest reinsurer singled out the...
Congress Eyes New Income Insurance for Farmers
Nov 8 2011 // Farm-state lawmakers are moving to create a whole new subsidy that would protect farmers when their revenue drops — an unprecedented program that critics say could pay billions of dollars to farmers now enjoying...
AIR Worldwide Launches Inland Flood Model for Germany
Nov 8 2011 // Catastrophe risk modeling firm AIR Worldwide has released an inland flood model for Germany, which it said “offers a fully probabilistic approach for determining the likelihood of flood losses from all types of...
In Abrupt Turnaround, Olympus Admits It Hid Losses for Decades
Nov 8 2011 // Japan’s Olympus admitted on Tuesday it had hidden losses on securities investments dating back to the 1980s, succumbing to weeks of pressure to explain a series of baffling transactions that have put the future of...
Insurers, Policyholders Clash Over Business Interruption Claims
Nov 7 2011 // Over the years, insurance companies and policyholders have been arguing in courts over how to calculate business interruption losses during catastrophes. This is the type of coverage that is often ignored until there is a...
Berkshire Hathaway Q3 Profit Falls on Derivatives
Nov 7 2011 // Warren Buffett’s conglomerate Berkshire Hathaway Inc. reported a smaller third-quarter profit Friday after losing more than $2 billion on derivatives related to stock market performance. That was nearly three times...
Third Quarter Earnings Report: Maiden Holdings
Nov 7 2011 // Q3 2011 Q3 2010 Gross premiums written $451.13 mn $289.82 mn 9 months – 2011 2010 $1.3843 bn $951.98 mn Net premiums earned —- $420.277 mn $309.593 mn 9 months – 2011 2010 $1.1346 bn $857.30 mn Net income...
Best Affirms Hannover Re and Subs ‘A’ Ratings; Outlook Positive
Nov 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Hannover Rueckversicherung AG (Hannover...
