Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Soft Market’s Effect on Premium Volume Doesn’t Have to Hinder Revenue
Apr 21 2008 // Soft market’s effect on premium volume doesn’t have to hinder revenue Premium volume may be down for independent agencies across the country but that doesn’t mean agency revenue is down for some of the...
Climate Change Risk Gives Industry An Opportunity to Be Part of the Solution
Apr 21 2008 // Global warming, the consequence of which is referred to as climate change, is the heating of the earth’s surface temperature caused by man-made activity linked to release of greenhouse gases (GHGs). The burning of...
FBI: Dollar Loss From Internet Crime Reaches All-time High of $240 Million in 2007
Apr 21 2008 // Internet crimes in 2007 cost nearly $240 million, a $40 million increase from 2006, the Federal Bureau of Investigation reported. According to the FBI’s 2007 Internet Crime Report, the Internet Crime Complaint Center...
Mercury General To Report Q1 Results on May 5
Apr 16 2008 // Los Angeles-based Mercury General Corp. (NYSE:MCY) will release its financial resuts for the first quarter ended March 31, 2008, on May 5, 2008. The company will host an investor conference call and Webcast that day at 10...
Total Bank Insurance Revenue Up Slightly in 2007
Apr 15 2008 // The nation’s bank holding companies experienced a slight increase of 0.5 percent in their total insurance revenue from $43.5 billion in 2006 to $43.7 billion in 2007. Citigroup Inc. (N.Y.), Wells Fargo & Co....
Report: Obesity Costing Firms $45B a Year in Work Loss, Medical Costs
Apr 10 2008 // The rate of obesity in the United States has doubled in the last 30 years, and those extra pounds weigh on companies’ bottom lines, according to a new report from The Conference Board. Today, 34 percent of American...
Auto Insurer Progressive Reports Q1 Profit Down 34%
Apr 9 2008 // Progressive Corp., one of the largest U.S. auto insurers, Wednesday said first-quarter profit fell 34 percent, as premiums declined. Net income for the Mayfield Village, Ohio-based company dropped to $239.4 million, or 35...
Bear Stearns, Deloitte & Touche Sued over Hedge Fund Losses
Apr 8 2008 // The liquidators of two Bear Stearns Cos mortgage hedge funds that collapsed last year, filed suit Monday against the company and its auditor, Deloitte & Touche, seeking to recover over $1 billion in losses. The suit,...
Climate Change Heats Up Insurance Industry
Apr 7 2008 // Greenhouse gases (GHGs) have gotten a bad rap, according to Mark C. Bove, senior research meteorologist, catastrophic risk management for Munich Reinsurance America. Speaking on a panel about climate change at the...
FBI: Dollar Loss from Internet Crime Reaches All-Time High
Apr 4 2008 // Internet crimes in 2007 cost nearly $240 million, a $40 million increase from 2006, the Federal Bureau of Investigation reported. According to the FBI’s 2007 Internet Crime Report, the Internet Crime Complaint Center...
New Jersey Mother Settles Weight-Loss Lawsuit for $1M
Apr 3 2008 // Her lawyer says the mother of a Rochelle Park, New Jersey teen has settled a lawsuit over his weight-loss surgery for $1 million. Elaine LaBeur’s decision came after a few days of testimony in the trial involving...
La. Posts Nation’s Fastest Income Growth. But Will It Last?
Mar 28 2008 // For the second straight year, Louisiana has posted the fastest personal income growth in the nation, but a prominent economist says that the post-hurricane boost will not necessarily last. “To argue we’re the...
West Virginia’s Workers Comp Insurer May not See Huge Profits Again
Mar 25 2008 // BrickStreet Insurance’s profit from running West Virginia’s workers’ compensation program more than doubled in its second year of business, but those heady days could be ending. In July, the company will...
West Virginia Workers’ Comp Insurer Reports $185 Million Profit for 2007
Mar 24 2008 // BrickStreet Insurance’s profit from running West Virginia’s workers’ compensation program more than doubled to $185 million last year. The Charleston-based insurer earned $70.7 million in 2006, its first...
Study: California Hayward Fault Earthquake Could Cause $165 Billion in Losses
Mar 21 2008 // An earthquake of 6.8 magnitude or greater on California’s Hayward Fault, in the heart of the San Francisco Bay area, could impact more than 5 million people and impact more than $1.5 trillion in property and...
Los Angeles Trial Opens for Elderly Women in Murder-for-Profit Case
Mar 20 2008 // Two elderly women accused of killing two transient men with a car so they could collect nearly $3 million in insurance money were videotaped talking about the scheme while in FBI custody, the prosecutor said in opening...
Pacific Underwriters Adopts (I-Bind)® For Private Company and Non-Profit Risks
Mar 20 2008 // New York, NY- March 20, 2008: Pacific Underwriters announced that it has partnered with Darwin Professional Underwriters to place management liability insurance for private company and not-for-profit risks utilizing...
SCOR Net Income up 62% to $633 Million
Mar 20 2008 // French reinsurer SCOR Group posted a significant gain in net income for 2007 – up 62 percent to €407 million, ($632.8 million), a ROE of 14.1 percent and a strong 2007 EPS reaching € 2.79 ($4.337), supported by a...
Greenlight Re Reports Q4, Full Year Results; Conference Call Today
Mar 19 2008 // Cayman Islands-based Greenlight Capital Re, Ltd. has reported a net profit of $29.2 million for the fourth quarter of 2007 compared to $17.4 million for the same period in 2006. On a fully diluted per share basis, the...
Insurance Commissioner: Atlanta’s Estimated Insured Loss at $250M
Mar 18 2008 // Insurance and Safety Fire Commissioner John W. Oxendine said damage from a tornado that struck downtown Atlanta last week has reached an estimated $250 million in insured losses. “That figure includes damage from...
