Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Profits Shrink at Safety Insurance
Nov 4 2008 // Boston-based Safety Insurance Group Inc. saw third quarter profits shrink by nearly 20 percent — about $4.6 million — compared with the same period last year, according to the insurer’s latest earnings...
Max Cap Group to Hold Q3 Earnings Conference Call Today; Details
Nov 3 2008 // The Bermuda-based Max Capital Group Ltd. will hold an investment community conference call today, today, Monday, November 3, 2008, at 10 o’clock a.m. Eastern Time, to discuss the Company’s third quarter 2008...
Flagstone Re to Release Q3 Earnings Today; Conference Call Details
Nov 3 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited will release its third quarter results after the close of market today, Monday, November 3rd, 2008. The Company will hold an investment community conference call on...
Mercury General Reports Net Loss of $140.5 million in Q3
Nov 3 2008 // Los Angeles-based Mercury General Corp. has announced its results for the third quarter ended Sept. 30, 2008. Net loss in the third quarter was $130.5 million, compared with net income of $63.3 million in the same period...
Alabama Revenue Chief Calls for Captive Insurers for Coastal Property Risks
Nov 2 2008 // Alabama’s coastal property insurance crisis could be resolved by the state and cities working together to form special types of insurance companies to offer coverage, the state revenue commissioner said. Tim Russell,...
Risk Managers Report Price Softening; Insurers Battle Surplus Decline
Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a...
The Battle to Preserve Agency/Broker Value
Nov 2 2008 // As economic stagnation and current rate pressure weakens performance and as supply starts to outstrip demand for acquisitions, agencies and brokers must be prepared for deteriorating valuations. As the next few years will...
Local Governments Increase Homeowners Loss
Nov 2 2008 // Personal Lines Ordinance or Law Exposures Within 10 years of completion (sometimes in as little as five) a house may violate several parts of a community’s most current building codes. Specific jurisdictional...
Study: California Earthquake Could Cause $200 Billion in Losses
Oct 31 2008 // If a magnitude 7.0 earthquake occured on California’s Hayward Fault today, it would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured, according to a...
Fairfax Q3 Profit up on Investment Gains
Oct 31 2008 // Insurance holding company Fairfax Financial Holdings Ltd. said on Thursday that its quarterly net income jumped 85 percent as investment gains outweighed catastrophe losses in its underwriting business. The company said...
Aspen Posts $116.7 Million Q3 Loss; $91.4 Million 9 Month Profit
Oct 31 2008 // Aspen Insurance Holdings has reported a third quarter 2008 net loss after tax of $116.7 million, compared with a net profit after tax of $117.2 million in Q3 2007. Operating earnings per share also posted a loss in the...
Aon Reports 6% Revenue Boost in Q3
Oct 31 2008 // Aon Corp., the world’s largest insurance brokerage by assets, posted better-than-expected quarterly profit Friday, helped by growth in fees and commissions. Excluding items, profit from continuing operations rose 33...
Hanover Insurance Posts Q3 Loss But CEO Sees Positive Trends
Oct 31 2008 // Worcester-Mass.-based Hanover Insurance Group Inc. posted a $61.8 million quarterly net loss, as like other insurers it felt the pain of storm and investment losses, but the CEO said his company remains in excellent...
Selective Insurance Posts Profit Despite Storm Claims, Investment Decline
Oct 31 2008 // New Jersey-based Selective Insurance Group, Inc. today reported its financial results for the third quarter ended Sept. 30, 2008 that included a profit despite storm claims and a drop in investment income. Selective...
Ace’s Greenberg Sees Business Opportunities from AIG Troubles
Oct 30 2008 // Insurer Ace Limited’s business opportunities have grown dramatically over the past month and a long slump in rate pricing appears to be over, CEO Evan Greenberg told investors. Greenberg, speaking Wednesday on a...
The Hartford’s Q3 Loss Reported at $2.6 Billion
Oct 30 2008 // Hartford Financial Services Group Inc. joined other insurers in reporting a loss in the third quarter due to large investment losses and catastrophe claims. The Hartford reported a third quarter 2008 net loss of $2.6...
ACE Limited Q3 Net Income Drops 92% to $54 Million
Oct 29 2008 // ACE Limited reported net income for the third quarter ended September 30, 2008, of $54 million, compared to $656 million in the same period of 2007, a 92 percent decrease. Earnings per share were $0.16, compared with $1.95...
Axis Capital Reports $249 Million Q3 Net Loss; $161 Million Operating
Oct 29 2008 // Bermuda’s AXIS Capital Holdings Limited reported a net loss for the third quarter of 2008 of $249 million, or $1.79 per diluted common share, compared with net income of $270 million, or $1.65 per diluted common...
RenaissanceRe Reports Q3 Net Loss of $231; $143.4 Million Operating Loss
Oct 29 2008 // Bermuda’s RenaissanceRe Holdings reported an operating loss attributable to common shareholders of $143.4 million for the third quarter of 2008, compared to operating income available to common shareholders of $167.8...
Berkley Records Q3 Loss; Sees New Units Benefiting from Market Turmoil
Oct 29 2008 // W. R. Berkley Corp. reported a net loss for the third quarter of 2008 of $28 million, compared with net income of $180 million, for the third quarter of 2007. Operating income for the third quarter of 2008 was $123...
