Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Kentucky Ice Storm Death Toll at 35; Early Losses at $130 Million
Feb 22 2009 // Kentucky officials say the Jan. 27 storm that blanketed the region with ice and snow took 35 lives. About 769,000 customers lost power at its peak, and almost 50,000 were still without power two weeks later. More than 100...
Implications of the 2008 Farm Bill
Feb 22 2009 // Could Reduce Agent Commissions, But Create New Insurance Categories The Food, Conservation and Energy Act of 2008 (the Farm Bill) authorizes farm programs for the next five years. The Act’s provisions encompass a...
Valuing the Deal: It’s What You Keep That Matters
Feb 22 2009 // We talk with clients all the time about the mergers and acquisitions (M&A) marketplace, advising owners on positioning their businesses for the best exit whether they are three months or three years away from...
New Mexico Bill Lets Courts Combine Fraud Losses
Feb 20 2009 // The New Mexico Senate passed a bill that would increase insurance fraud penalties by empowering courts to combine the insurance money stolen by multiple schemes into one larger dollar amount that triggers longer sentences...
France’s Winter Storm Klaus Property Losses Pegged at $1 Billion Euros
Feb 20 2009 // Catastrophe risk modeling firm AIR Worldwide has updated its insured loss estimates of property losses in France from winter storm Klaus to between 500 million and 1 billion Euros. These losses represent damage to...
Harleysville Premiums Up 5% in Q4; Combined Ratio 98.5%
Feb 20 2009 // Pennsylvania-based Harleysville Group Inc. (NASDAQ:HGIC) reported fourth quarter net written premiums increased 5 percent to $214.5 million in 2008, compared to $203.6 million in the same period in 2007. Net written...
BNP Paribas Has Q4 Loss; Braced for Tough Year
Feb 19 2009 // BNP Paribas, the French bank embroiled in plans to carve up struggling rival Fortis, posted an expected fourth-quarter loss and said market conditions would remain tough in 2009. France’s biggest bank by market...
Kentucky Ice Storm Death Toll at 35; Early Losses at $130 Million
Feb 13 2009 // Kentucky officials say the Jan. 27 storm that blanketed the region with ice and snow has taken 35 lives. About 769,000 customers lost power at its peak, and almost 50,000 are still without power. The state has received a...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Feb 13 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
Arthur J. Gallagher Q4 Net Income Drops 80%
Feb 13 2009 // Arthur J. Gallagher reported net income for the fourth quarter dropped 80 percent. The Itasca, Illinois-based company’s fourth quarter net income declined to $4.7 million or $0.05 per share from $23.4 million or...
RenRe Q4 Loss $44.6 Million; FY Income Drops 95% to $29 Million
Feb 13 2009 // Bermuda-based Renaissance Re Holdings reported a $44.617 million net loss for the fourth quarter of 2008. Net income for the full year was $29.02 million, compared to $612.436 million in 2007, a 95 percent decline....
Validus Q4 Net Income Drops 73% to $37 Million; FY Net $53.1 Million
Feb 13 2009 // Bermuda-based Validus Holdings reported net income for the quarter ended December 31, 2008 of $37.0 million, or $0.47 per diluted common share, compared with net income of $139.0 million, or $1.77 per diluted common share,...
Best Indicates 2008 Loss Won’t Affect Catlin Group’s Ratings
Feb 13 2009 // A.M. Best Co. has commented that the ratings of the Bermuda-based Catlin Group and its subsidiaries remain unchanged following the publication of the group’s full year 2008 results. Best said it “believes that...
Marsh Sees Growth in 2009 Boosted by Acquisitions
Feb 12 2009 // Marsh & McLennan Cos Inc , the No. 2 global insurance broker, reported better-than-expected fourth-quarter earnings, helped by lower costs, and forecast higher profits in 2009, sending its shares up 16 percent. The...
S&P Affirms XL and Subsidiaries Ratings; Outlook Remains Negative
Feb 12 2009 // Standard & Poor’s Ratings Services has affirmed its ‘BBB+’ counterparty credit rating on XL Capital Ltd. and its ‘A’ counterparty credit and financial strength ratings on XL’s core...
Max Capital Posts $94 Million Q4 Loss; $175 Million FY Loss
Feb 12 2009 // The Bermuda-based Max Capital Group reported a net loss for the three months ended December 31, 2008, of $94.1 million, or $1.67 per diluted share, compared to net income of $62.4 million, or $1.00 per diluted share, for...
Willis Fourth Quarter Net Income Falls 35% to $62 Million
Feb 12 2009 // Willis Group Holdings, the third largest global insurance broker, said Wednesday that its fourth-quarter net income fell about 35 percent, hurt by declines in foreign currency and integration costs from a recent...
Everest Re Posts $16.6 Million Q4 Net Loss; $18.7 Million FY Loss
Feb 12 2009 // The Bermuda-based Everest Re Group reported an overall net loss of $16.591 million, or $0.27 per share, for the fourth quarter of 2008 compared to net income of $12.2 million, or $0.19 per diluted share, for the same...
Validus Re to Release Q4, FY Earnings Today; Conference Call Details
Feb 12 2009 // Bermuda-based Validus Holdings plans to release its financial results for the fourth quarter and fiscal year ended December 31, 2008, after the close of trading on the New York Stock Exchange today, Thursday, February 12,...
XL Capital Posts $1.43 Billion Q4 Loss; $2.63 Billion Full Year
Feb 11 2009 // Bermuda-based XL Capital posted a $1.43 billion fourth-quarter net loss Tuesday, and said it will cut its dividend and slash 10 percent of its staff. The quarterly loss was due to soured investments, hedge fund losses, and...
