Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allstate Operating Income Rises in Q2; Capital Losses Hurt Net Income
Aug 5 2010 // The Allstate Corp., headquartered in Northbrook, Ill., reported that second quarter 2010 operating income rose to $441 million compared to $297 million in the same period of 2009, reflecting improved results in both...
Utilities Market Still Softening Despite ‘Mega’ Claims: Willis
Aug 4 2010 // Insurance rates in the power sector are expected to soften further in 2010, despite the existence of many of the conditions that would normally presage a hardening market, according to the latest Power Market Review from...
State Auto Reports Net Loss of $26.2M in Q2 2010
Aug 4 2010 // State Auto Financial Corp. has reported a second quarter 2010 net loss of $26.2 million versus a net loss of $3.2 million for the second quarter of 2009. State Auto’s combined ratio for the quarter was 115.2 versus...
July’s Catastrophes Cause Widespread Losses Globally: Aon Benfield
Aug 3 2010 // Floods in Pakistan and China have taken thousands of lives and damaged hundreds of thousands of homes, according to a new report on catastrophic events in July by a reinsurance team. A European heatwave, wildfires in...
Marsh Revenue Up 9% in Q2
Aug 3 2010 // Global insurance broker Marsh’s revenue in the second quarter of 2010 rose 9 percent to $1.2 billion from the same period in 2009. Revenue growth in international operations was 6 percent, reflecting 3 percent growth...
Mercury General Reports Q2 Net Premiums Written Down 1 percent
Aug 2 2010 // Mercury General Corp. reported it spent $12.1 million in the second quarter of 2010 supporting Proposition 17, a California ballot initiative that did not pass. Nevertheless, the Los Angeles-based insurer reported net...
Top 25 Carriers’ First Quarter Results Show Soft Market May Have Finally Hit Bottom
Aug 2 2010 // The American psychologist and philosopher William James once said, “Pessimism leads to weakness, optimism to power.” This may be the adage of the Top 25 Property/Casualty companies based upon the dollar amount...
Aon’s Q2 Results Boosted by Acquisitions, Brokerage Business
Jul 30 2010 // Aon reported net income of $153 million in the second quarter 2010, compared to $149 million for the prior year quarter. Net income from continuing operations increased 22 percent to $179 million, compared to $147 million...
New International Accounting Standard Aims to Clarify Insurers’ Profits
Jul 30 2010 // A global accounting standard setter proposed a new rule for measuring insurers’ profitability on Friday, aiming to shine a light on a sector criticised by investors for being a “black box” that keeps them...
Seabright Has Q2 Net Loss of $15.5 Million
Jul 30 2010 // SeaBright Holdings Inc. reported a second quarter net loss of $15.5 million or $0.74 per basic and diluted share, primarily due to the recognition of adverse development of prior years’ loss reserves. This compares...
SCOR’s Q2 Net Income up 32% to $157 Million; $204 Million Half Year
Jul 29 2010 // French reinsurer SCOR had a very satisfactory second quarter with net income of €120 million ($156.75 million), compared to €91 million ($119 million) in the second quarter 2009, a 32 percent rise. The increase...
Everest Re Posts $156.7 Million Q2 Net Income; CEO Taranto to Step Down
Jul 29 2010 // The Bermuda-based Everest Re Group reported second quarter 2010 after-tax operating income, which excludes net realized capital gains and losses, of $184.8 million, or $3.18 per diluted common share, compared to after-tax...
Aspen Q2 Net Steady at $109 Million; Operating $105 Million
Jul 29 2010 // Bermuda-based Aspen Insurance Holdings Limited reported net income after tax for the second quarter of 2010 of $108.9 million, or $1.28 per diluted share. Operating earnings, which excludes capital gains/losses, was up...
Endurance Reports Q2 Net Income of $58.6 Million; $57.7 Million Operating
Jul 29 2010 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $58.6 million and $0.97 per diluted common share for the second quarter of 2010, compared to net income of $149.1 million and $2.42 per diluted common...
RenRe Reports $210 Million Q2 Net Income: $140 Million Operating
Jul 28 2010 // Bermuda,-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $210.2 million or $3.66 per diluted common share in the second quarter of 2010, compared to net income available to common...
ACE Reports $677 Million Q2 Net Income; Operating $688 Million
Jul 28 2010 // ACE Limited reported net income for the quarter ended June 30, 2010, of $677 million, or $1.98 per share, compared with $535 million, or 1.58 per share for the same quarter last year. Income excluding net realized...
Montpelier Re Reports $70 Million Q2 Net Income; $73 Million Operating
Jul 27 2010 // Bermuda-based Montpelier Re Holdings Ltd., which specializes in short-tail reinsurance and other specialty lines, reported financial results for the second quarter ended June 30, 2010. Fully converted book value per share...
Pareto’s 80/20 Continued. Shrinking your book for growth
Jul 26 2010 // Pareto was right. The 80/20 rule works in insurance. If you applied the 80/20 rule to your book you’ve probably discovered that the top 20% of your clients generate 80% of your revenue. Now what do we do with this...
Report Forecasts Rough Sailing for Canadian Insurers’ Results
Jul 26 2010 // Investors hoping for improved results from Canada’s insurers may want to brace for disappointment, with weak stock markets and lower bond yields seen taking take a bite out of quarterly earnings. Analysts said the...
Weather Claims Erode Travelers Profits
Jul 23 2010 // Weather-related claims of nearly $440 million dragged down profits by 9 percent at Travelers, which reported second quarter net income of $670 million, down from the $740 million the insurer earned in the year-ago...
