Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
S&P Affirms Allianz ‘AA’ Ratings after Dresdner Sale
Sep 2 2008 // Standard & Poor’s Ratings Services has affirmed its ‘AA’ long-term counterparty credit and insurer financial strength ratings on Germany’s Allianz SE (AZSE) and related core entities, along...
Lloyd’s in the 21st Century
Sep 1 2008 // The Modernization of Lloyd’s and the London Market Any institution — and there aren’t many — that survives and thrives for 320 years must find ways to adapt to changing conditions. Lloyd’s of...
A Winning Culture
Sep 1 2008 // Lots of companies claim to have a great working environment, but when a company backs up its claim with awards, who can deny it? Insurance Journal Top 100 Agency Profile The IMA Financial Group Inc. RANKING: No....
Business Planning in a Snap!
Sep 1 2008 // How to Create a Fast, Effective One-Page Agency Plan The fall is a good time to plan for the New Year by reflecting on how the agency has been operating over the past year. Operations may need to be restructured to the way...
Fitch: P/C Profits Decline Sharply in First-Half 2008
Aug 28 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008, according to a new Fitch report. Profitability declined due to poor investment performance and deteriorating...
French Insurers Scor, CNP Post Higher Profits
Aug 27 2008 // French insurance companies Scor and CNP posted higher first-half earnings on Wednesday after managing to ride out the credit crisis in the global financial markets. Scor, the world’s fifth-biggest reinsurer, said...
S&P Report Says Oman Insurance Market Still Strong After 2007 Losses
Aug 27 2008 // In its latest report on the insurance market in the Sultanate of Oman, Standard & Poor’s Ratings Services says that despite the heavy losses from Cyclone Gonu in 2007, the sector has much to commend...
Kentucky Approves Workers’ Comp Loss Cost Reduction of 5.1%
Aug 27 2008 // A 2008 filing most insurance carriers will use to develop rates for workers’ compensation coverage shows the third straight decrease in loss costs, Insurance Commissioner Sharon P. Clark announced. The loss cost...
Several Insurers Could See Big Fannie, Freddie Losses
Aug 25 2008 // A handful of insurers holding equity in U.S. home-funding giants Fannie Mae and Freddie Mac could see big losses if a federal takeover wipes out the value of the agencies’ common and preferred stock, as some...
QBE’s First Half Results Show Gains
Aug 22 2008 // Australia’s QBE Insurance Group’s financial report for the six months ended June 30, 2008 showed increases in most areas, compared to 2007. QBE cited the following figures: — Insurance profit was up 6...
Japan: Risk and Rewards
Aug 21 2008 // In Japan, agencies write 93 percent of P/C insurance. The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of...
By Charles E. Boyle
Aug 21 2008 // From Novelty to Necessity: Bermuda’s Insurance Market 2008 Bermuda’s insurance industry has grown steadily since it began 50 years ago. It is now a mature market, and, in certain sectors – natural...
S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers
Aug 21 2008 // An aerial photo shows a flooded area of downtown looking North over Cedar Rapids, Iowa, June 13, 2008. Interstate I-380 can be seen on the left while Mays Island, with Cedar Rapids City Hall, is seen on the right with its...
Employers Holdings Reports Second Quarter Results
Aug 18 2008 // Reno, Nev.-based Employers Holdings Inc. reported results for the second quarter ended June 30, 2008. Second quarter consolidated net income was $27.4 million or $0.55 per share in 2008 compared to $30.8 million or $0.58...
S&P: ING Ratings, Outlook ‘Unchanged’ by Q2 Profit Decline
Aug 14 2008 // Standard & Poor’s Ratings Services announced that its ratings and outlooks on ING Groep N.V. (currently ‘AA-‘ – Stable – ‘A-1+’) and related entities are unchanged following...
Unico American Corp. Reports Second Quarter 2008 Financial Results
Aug 13 2008 // Unico American Corp., an insurance holding company based in Woodland Hills, Calif., that, through its subsidiaries, including Crusader Insurance Co., offers a variety of property and casualty insurance products and...
Insurance Weighs on Berkshire Hathaway’s 2nd Quarter Profit
Aug 11 2008 // Omaha, Neb.-based Berkshire Hathaway Inc. reported an 8 percent decline in second-quarter profit as of Friday, Aug. 8 because it collected fewer insurance premiums and recorded $1 billion in unrealized derivative...
Allied World Q2 Net Income Drops by 35% to $79 Million
Aug 11 2008 // Bermuda-based Allied World Assurance Company Holdings reported net income of $79.2 million, or $1.56 per diluted share, for the second quarter of 2008, compared to net income of $123.3 million, or $1.96 per diluted share,...
Catlin Posts 21% Decline in First Half Net Income; GPW Top $2 Billion
Aug 11 2008 // The Bermuda-based Catlin Group Limited posted mixed financial results for the first half of 2008. While gross written premiums were up four percent to $2.075 billion, net income before taxes for the period declined by 21...
Argo Group Bucks the Trend as Q2, H1 Net Income Increases
Aug 11 2008 // The Bermuda-based Argo International Holdings, Ltd. (The successor to Argonaut Insurance) announced comparatively good financial results for the three and six months ended June 30, 2008. Net income for the second quarter...
