Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Validus Estimates Oil Platform Disaster Losses in $38-$45 Million Range
May 3 2010 // Bermuda-based Validus Holdings, Ltd. announced a preliminary estimate of losses from the Deepwater Horizon oil platform loss in the Gulf of Mexico to be in the range of $38 million to $45 million, based on an industry loss...
Mercury Insurance Reports Q1 Net Income of $61.2 Million
May 3 2010 // Los Angeles-based Mercury General Corp. has reported net income in the first quarter of 2010 of $61.2 Million, $35.5 million less than the $96.7 million net income reported for the same quarter in 2009. Operating income...
P/C Industry’s Net Income Up $25B in 2009; Combined Ratio Improves to 101
May 3 2010 // The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C...
Some Red Flags in Residential Arsons Fly Before the Fire
May 3 2010 // Financial stress is the No. 1 reason residential dwellings are intentionally torched, but proving arson is not that easy. Only around 6 percent of arson offenses in 2007 resulted in convictions, according to the Federal...
Some Red Flags in Residential Arsons Fly Before the Fire
May 3 2010 // Financial stress is the No. 1 reason residential dwellings are intentionally torched, but proving arson is not that easy. Only around 6 percent of arson offenses in 2007 resulted in convictions, according to the Federal...
Everest Re Posts $22.7 Million Q1 Net Loss; Operating Loss $73.8 Million
Apr 30 2010 // The Bermuda-based Everest Re Group reported a net loss of $22.7 million, or $0.38 per common share, for the first quarter 2010, compared to net income of $108.6 million, or $1.76 per diluted common share, for the first...
Aspen Hit by Nat Cats as Q1 Net Income Falls to $18.3 Million
Apr 30 2010 // Bermuda-based Aspen Insurance Holdings Limited reported a net profit after tax for the first quarter of 2010 of $18.3 million and operating earnings of $0.01 per diluted ordinary share, compared to a net profit after tax...
ACE Posts $755 Million Q1 Net; Operating Income of $579 Million
Apr 30 2010 // ACE Limited reported from its headquarters in Zurich that net income for the quarter ended March 31, 2010, totaled $755 Million, compared to $567 million in Q1, 2009. Net income was $2.22 per share, compared with $1.69 per...
Selective Swings to a $5.8M Profit
Apr 30 2010 // Despite sizable losses from late season, East Coast storms, New Jersey-based Selective Insurance Group swung to a first quarter profit of $5.8 million, a positive change from the $12.9 million the insurer lost in the...
PartnerRe Oil Platform Disaster Loss Estimates Put at $60-$70 Million
Apr 30 2010 // Bermuda-based PartnerRe Ltd. announced preliminary estimates of expected claims, relating to the recent explosion of the Deepwater Horizon Drilling Platform in the Gulf of Mexico, as in “the range of $60-$70...
The Hartford’s P/C Income Jumps $145M in Q1
Apr 30 2010 // The Hartford Financial Services Group, Inc. reported first quarter 2010 net income of $319 million. Property and casualty net income rose $145 million, to $257 million for the first quarter of 2010, compared with $112...
AXIS Posts $112 Million Q1 Net Income; $96 Million Operating Income
Apr 29 2010 // Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders of $112 million, or $0.79 per diluted common share for the first quarter of 2010, compared with net income of $116 million,...
U.S. Targets Crop Insurers’ Profits
Apr 29 2010 // The federal government wants to save taxpayers billions of dollars by reducing spending on crop insurance after years of big profits by insurers, but the industry claims the reductions could hurt rural areas. The U.S....
State Auto Income Up for Q1 2010
Apr 29 2010 // State Auto Financial Corp.(STFC), based in Columbus, Ohio, has reported first quarter 2010 net income of $12.9 million versus a net loss of $14 million. The company’s combined ratio for the first quarter of 2010 was...
Arch Capital Reports $210.5 Million Q1 Net Income
Apr 28 2010 // The Bermuda-based Arch Capital Group Ltd. reported that net income available to common shareholders for the 2010 first quarter was $210.5 million, or $3.79 per share, compared to $139.9 million, or $2.24 per share, for the...
Gallagher Reports Jump in Revenues for Q1 2010
Apr 28 2010 // Arthur J. Gallagher & Co. reported that total brokerage and risk management revenue for the 2010 first quarter was $414.9 million compared to $401.7, for the 2009 first quarter. Brokerage revenue came in at $303.5...
Harleysville Reports $8.1M Profit, Ratings Upgrade
Apr 28 2010 // Pennsylvania-based Harleysville Insurance Group posted an $8.1 million profit in the first quarter – a drop compared with the $17.3 million it made in the year-ago quarter, but enough to earn an upgraded rating from...
Transocean Says Insurance Covers $560 Million Oil Rig Loss
Apr 27 2010 // Transocean Ltd. said Monday its insurance covers the total loss of the Deepwater Horizon oil platform and wreck removal after the rig that burned and sank off the Louisiana coast last week. Wreck removal coverage was only...
Zurich Estimates Chile Earthquake-related Losses at $200 Million
Apr 26 2010 // Zurich Financial Services announced that, based on preliminary estimates, it expects aggregate claims payments related to the earthquake in Chile of approximately $200 million before tax. Zurich added that the estimate is...
United Fire & Casualty Earned Premiums Down in Q1, Net Income Up
Apr 26 2010 // Cedar Rapids, Iowa-based insurance company United Fire & Casualty Co. reported a dip in premiums earned in the first quarter of 2010 compared with that in the same period in 2009, but total revenues and net income...
