Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allianz 2009 Net Income up 13% at $6.4 Billion
Feb 26 2010 // Germany’s Allianz Group posted preliminary figures for 2009, indicating that its net income rose by 13.2 percent to €4.7 billion [$6.4 billion]. Revenues were up up 5.2 percent to €97.4 billion [$132.5...
AIG Reduces Q4 Loss; Reports Some Stabilization While Challenges Remain
Feb 26 2010 // American International Group, Inc. (AIG) reported a net loss of $8.9 billion for the fourth quarter of 2009, compared to a net loss of $61.7 billion in the fourth quarter of 2008. The company said that net loss in the...
Employers Holdings Reports Net Income of $11.3 Million
Feb 25 2010 // Employers Holdings Inc. reported fourth quarter 2009 net income of $11.3 million compared with $15.9 million in the same period in 2008, a decrease of $4.6 million. Pre-tax income in the fourth quarter increased $13.8...
Texas Catastrophic Weather Losses Totaled $2.5B in 2009
Feb 25 2010 // Texas in 2009 experienced weather catastrophes amounting to more insured losses than any other state. Last year, Texas experienced 10 weather catastrophes that caused nearly $2.5 billion in losses. The next nearest state...
Architect Not Liable for Economic Loss in Construction Defect Case
Feb 25 2010 // A property owner cannot sue an architectural firm for economic losses because of negligent design in a construction defect case, the Arizona Supreme Court has ruled. Issuing its decision in Flagstaff Affordable Housing...
Marsh Concludes Energy Sector Applies Risk Lessons from Past Losses
Feb 24 2010 // New research by Marsh has concluded that, “despite an increase in the size and scale of new energy infrastructure projects, national oil companies (NOCs) and other energy and chemical concerns are experiencing fewer...
Wills’ Faber & Dumas Appoints Tollan to Drive Revenue Growth
Feb 23 2010 // Gerry Tollan has joined Faber & Dumas, the wholesale brokerage division of Willis Group Holdings, as Business Development Director, effective immediately. He is based in London and will report to Steve Hearn, CEO....
Montpelier Re Posts $104.7 Million Q4 Net Income; $463.5 Million Full Year
Feb 22 2010 // Bermuda-based Montpelier Re Holdings Ltd. reported greatly improved fourth quarter and full year financial results. The reinsurer’s fourth quarter net income was $104.7 million ($1.25 per share), compared to a loss...
Argo Group Net Income Rose by 87% in 2009 to $117.5 Million
Feb 22 2010 // The Bermuda-based Argo Group International Holdings, Ltd. (the successor company of the Argonaut Group) announced a record result for 2009 with net income rising by 87 percent to $117.5 million, or $3.81 per diluted share...
Validus Reports $165.8 Million Q4 Net Income; $897.4 Million Full Year
Feb 22 2010 // Bermuda-based Validus Holdings, Ltd. reported net income of $165.8 million, or $1.23 per diluted common share for the three months ended December 31, 2009, compared with net income of $37.0 million, or $0.47 per diluted...
State Auto Reports Revenue Increases for 2009
Feb 22 2010 // Columbus, Ohio-based State Auto Financial Corporation’s fourth quarter 2009 net income rose to $14.4 million compared with a net loss of $0.6 million for the fourth quarter 2008, the company reported. For the year...
M&A Activity at Decade Lows
Feb 21 2010 // Leading into 2009, agencies were at a crossroads; uncertain of whether to sell, buy, or implement new or improved organic growth strategies. The path was uncertain, but it was widely believed that market, economic and...
101 Things Young Agents Like MOST
Feb 21 2010 // The exclusive 2010 Insurance Journal Young Agents Survey asked independent agents 40 years old and younger: What do you like most about being an independent agent? Here’s what some of the 631 agents who responded had...
Harleysville Profits Rise Dramatically
Feb 19 2010 // Investment gains helped Pennsylvania-based insurer Harleysville Group Inc. post a 422 percent increase in fourth-quarter income to $24.2 million, as the insurer nearly doubled its profits to $86.3 million in...
Swiss Re Rebounds from 2008 Loss; Reports $469 Million FY Net Income
Feb 18 2010 // Swiss Re returned to profit in 2009. The world’s number two reinsurer reported net income of CHF506 million [$468.9 million], compared to a loss of CHF 864 million [$800.6 million] in 2008. The earnings statement...
Some Red Flags in Residential Arsons Fly Before the Fire
Feb 18 2010 // Financial stress is the number one reason residential dwellings are intentionally torched, but proving the act of arson is not that easy. In fact, Federal Bureau of Investigation statistics for 2007 show only around 6...
Flagstone Re Reports $71.5 Million Q4 Net Income; FY $242 Million
Feb 17 2010 // Bermuda-based Flagstone Re posted net income attributable to common shareholders for the quarter ended December 31, 2009, of $71.5 million, or $0.86 per diluted share, compared to a net loss of $75.6 million, or a loss of...
AXA Asia-Pacific Returns to Profit; No Comments on Takeover Bids
Feb 17 2010 // Takeover target AXA Asia-Pacific’s promise of strong growth in 2010 prompted analysts to suggest suitors may consider raising their bids for the firm but top officials declined comment on the $12 billion...
Arch Capital Posts $284.7 Million Q4 Net Income; Conference Call Today
Feb 17 2010 // The Bermuda-based Arch Capital Group Ltd reported that net income available to common shareholders for the 2009 fourth quarter of $284.7 million, or $4.75 per share, compared to a net loss to common shareholders of $143.0...
Large Brokers Freed to Go After Contingent Commissions But Will They?
Feb 17 2010 // The nation’s largest insurance brokers have received the go-ahead to begin accepting contingent commissions again — but two of them say they won’t do it. Officials in New York, Illinois and Connecticut...
