Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Chaucer’s Gustav/Ike Losses at $55 Million; Investment Loss $47 Million
Oct 22 2008 // Chaucer, the specialist Lloyd’s insurance group, announced that its preliminary loss estimates for hurricanes Gustav and Ike – net of reinsurance and reinstatement premiums – is approximately $55 million...
Everest Re Reports $233 Million Q3 Net Loss; $2.2 Million for 9 Months
Oct 22 2008 // The Bermuda-based Everest Re Group reported third quarter 2008 after-tax operating income, which excludes realized capital gains and losses, of $12.6 million, or $0.21 per share, compared to after-tax operating income of...
Travelers Takes Q3 Hit from Hurricanes
Oct 22 2008 // Travelers Cos. Inc.’s net income dropped to $214 million for the third quarter, down from $1.2 billion for the same period last year, as the company absorbed losses from Hurricanes Ike, Gustav and Dolly. The...
Towers Perrin Sees P/C Insurer Surplus Decline of 8% for Q3
Oct 22 2008 // The U.S. property/ casualty industry’s reported statutory surplus at the end of the third quarter is projected to decline as much as $42 billion, or 8 percent, from the beginning of the year, according to estimates...
Travelers Soothes Investors; Cites Opportunities in AIG Debacle
Oct 22 2008 // Large property insurer Travelers Cos. Inc. said some potential business opportunities have arisen from the troubles at its rival American International Group Inc., and that the rates it can charge for insurance may also...
Endurance Issues Preliminary Q3 Earnings Analysis
Oct 21 2008 // Bermuda-based Endurance Specialty Holdings joined the growing list of the island’s (re)insurers who have issued statements giving preliminary details concerning their third quarter results. In discussing the impact...
Everest Re to Hold Q3 Earnings Conference Call Today
Oct 21 2008 // The Bermuda-based Everest Re Group released its Third Quarter 2008 earnings after close of trading on the NYSE yesterday, October 20, 2008. A conference call discussing the results will be held at 8:30 a.m. Eastern Time...
Platinum to Report Q3 Earnings Today; Conference Call Details
Oct 21 2008 // Bermuda-based Platinum Underwriters Holdings will report financial results for the quarter ended September 30, 2008 after the close of trading on the New York Stock Exchange today, Tuesday, October 21, 2008. The Company...
Brown & Brown: Revenues Up Even as Insurance Prices Falling
Oct 21 2008 // Florida-based insurance agency Brown & Brown, Inc. reported that its total commissions and fees revenues for the third quarter of 2008 increased 8.1 percent over the third quarter of 2007. While revenues were up, net...
W.R. Berkley Estimates $41M Storm, $143M Investment Losses for Q3
Oct 20 2008 // W. R. Berkley Corp. estimates that it will report after-tax storm losses of $41 million, or $0.24 per share, from Hurricanes Ike, Gustav and Dolly as well as an unusually high number of wind and hail storms in the...
Colorado Orders 16% Decrease in Workers’ Comp Loss Costs
Oct 20 2008 // Colorado employers may be paying lower premiums for workers’ compensation insurance in 2009, because a significant component of workers’ compensation premiums, known as loss costs, will drop 16 percent, the...
Greenberg: AIG’s Risky Subprime Activity ‘Exploded’ After He Left
Oct 20 2008 // American International Group’s (AIG) exposure to the subprime mortgage market that precipitated the government’s $85 billion bailout came as a result of business conducted after he left the company, according...
Catlin Issues Ike/Gustav and Investment Loss Estimates
Oct 17 2008 // The Bermuda-based Catlin Group Limited has announced its initial estimate of the financial impact of Hurricanes Ike and Gustav and an update on its investment performance and trading conditions. The Group said its...
Best Comments on XL’s Preliminary Q3 Results
Oct 17 2008 // A.M. Best Co. has commented that the financial strength (FSR) and issuer credit ratings (ICR) of XL Capital Group and its members are unchanged following the recently announced preliminary estimates of third quarter 2008...
Correction on ACE Limited Preliminary Q3 Earnings
Oct 16 2008 // An October 13, 2008 Insurance Journal story reporting on estimates of third quarter results announced by ACE Limited out of Zurich contained an editing error that produced inaccuracies, particularly surrounding the...
Bank Holding Companies’ Insurance Revenue Jumps 9.5%
Oct 16 2008 // The nation’s bank holding companies increased their total insurance revenue 9.5 percent to $23.7 billion in the first half of 2008 from $21.7 billion during the same period in 2007. CitiGroup (N.Y.), Wells Fargo...
XL Estimates $1.65 Billion Loss But Beats Forecast
Oct 15 2008 // XL Capital Ltd, a large Bermuda-based insurer, estimated Tuesday a quarterly net loss of $1.65 billion to $1.67 billion, and said its chairman involuntarily sold about 80 percent of his common shares last week to meet a...
Everest Re Gives Preliminary Q3 Estimates; $246 Million Capital Loss
Oct 14 2008 // The Bermuda-based Everest Re Group has announced its preliminary estimates of third quarter 2008 results. The Company said after-tax operating income, which excludes capital gains/losses, for the third quarter of 2008 are...
Colorado Orders 16% Decrease in Workers Comp Loss Costs
Oct 13 2008 // Colorado employers may be paying lower premiums for workers compensation insurance in 2009, due to the announcement that a significant component of workers’ compensation premiums, known as loss costs, will drop 16...
ACE Announces Preliminary Q3 Earnings; $1.5 Billion Capital Loss
Oct 13 2008 // ACE Limited has made a pre-earnings announcement of its third quarter financial results from is headquarters in Zurich. “Given the extraordinary market conditions and questions of investor confidence in financial...
