Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Employers Holdings Reports Decline in Q1 Earnings
May 16 2008 // Reno, Nev.-based Employers Holdings Inc. reported net income for the first quarter in 2008 was $25.5 million, down from the $27.9 million earned in the same period in 2007. First quarter net premiums earned declined $13.9...
Catlin Q1 Results in-Line with Forecasts
May 16 2008 // The Bermuda-based Catlin Group Limited, which also does business in the U.S. and the Lloyd’s Market, has released an interim earnings statement, following the Company’s Annual General Meeting, indicating that...
Greenlight Re Posts Q1 Loss
May 16 2008 // Cayman Islands-based Greenlight Capital Re, Ltd. has reported a net loss of $4.8 million for the first quarter of 2008 compared to a net loss of $13.1 million for the same period in 2007. On a fully diluted per share...
RMS Estimates China Quake Property Losses Could Reach $15 Billion
May 15 2008 // As the magnitude of the earthquake that struck China’s Sichuan Province on Monday, and the extent of the damage it caused, becomes more apparent, the loss estimates from the quake have escalated rapidly. Risk...
Study: Moderate Income Households an Untapped Insurance Market
May 15 2008 // Many low- and moderate-income households need more insurance and want to know more about it, according to a recent study by the Federal Reserve Bank of Chicago. Overall, these consumers hold positive views about insurance,...
AIR Estimates China Quake Insured Losses Likely to Exceed $300 Million
May 14 2008 // Catastrophe risk modeling firm AIR Worldwide has issued an estimate that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140 billion ($20...
Fireman’s Fund Adds Green Coverage for Manufacturers
May 14 2008 // Fireman’s Fund’s made available a new green coverage endorsement for manufacturers that want to reduce water and energy use, and lower their overall carbon footprint. The company is offering insurance premium...
Hiscox Posts Mixed Q1 Results
May 13 2008 // Bermuda-based Hiscox Ltd. Posted mixed results, which it nonetheless described as “a good start to the year,” despite a 10 percent drop in total gross written premiums – from £358.4 million ($701.6...
Liability Costs for Long Term Care Industry Stabilize, Aon Reports
May 13 2008 // An Aon Corp. analysis of liability in the long term care industry found for the first time in nine years of reporting that liability costs are stable on a national average basis. The study found that average general...
Dresdner Posts Q1 Loss; Allianz Confirms Profit Decline
May 9 2008 // Dresdner Bank stayed in the red in the first quarter after writing down €845 million ($1.3 billion) on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two. Dresdner...
Eastern Insurance Reports Improved Workers’ Comp Results
May 9 2008 // Eastern Insurance Holdings, Inc., based in Lancaster, Pa., reported net income of $2.6 million for the first quarter of 2008, compared to net income of $3.2 million for the same period in 2007. The company said highlights...
S&P Lowers AIG’s Ratings; On CreditWatch/Negative
May 9 2008 // American International Group’s whopping $7.81 billion first quarter loss (See related article) brought an immediate reaction from Standard & Poor’s Ratings Services. S&P has lowered its counterparty...
Greenberg’s Starr Foundation Sues AIG, Alleging Fraud over Credit Losses
May 9 2008 // The Starr Foundation, controlled by former American International Group Inc. Chief Executive Maurice “Hank” Greenberg, has sued the insurer, claiming it misrepresented its exposure to credit default swaps. The...
Marsh Offering Wind Insurance Product for Financial Losses
May 8 2008 // Insurance broker Marsh along with catastrophe modeling firm Risk Management Solutions (RMS) and wind station operator WeatherFlow, Inc. have developed an insurance product to address financial exposures faced by businesses...
Munich Re Q1 Profit Down 19% to $1.2 Billion; Maintains 2008 Profit Targets
May 8 2008 // The Munich Re Group recorded a profit of €785 million ($1.2 billion) for the first quarter of 2008, down 19 percent from the €974 million ($1.495 billion) in the same period of 2007. The Group’s Operating result,...
Kingsway Q1 Financial Results Hit Again by Lincoln Reserving
May 8 2008 // Specialty insurer Kingsway Financial Services swung to a loss in the first quarter as it increased reserves at its Lincoln General and Kingsway General subsidiaries, the company said Wednesday. Kingsway, which sells...
AIG Posts Big Loss Due to Mortgage Woes; Insurance Results Decline, Too
May 8 2008 // The world’s biggest insurance company, American International Group Inc. (AIG), posted a big quarterly loss — $7.81 billion — largely due to write-downs related to bad mortgage investments. AIG blamed much of the...
Mercury General Reports $4 Million Net Loss in Q1
May 7 2008 // Mercury General Corp. announced its first quarter results, noting it had a net loss of $4 million in the first quarter of 2008, compared with net income of $60.5 million for the same period in 2007. Included in net...
S&P Affirms Berkshire Hathaway’s ‘AAA’ Ratings; Outlook Stable
May 7 2008 // Standard & Poor’s Ratings Services has affirmed its ‘AAA’ counterparty credit, ‘A-1+’ commercial paper, and ‘AAA’ senior unsecured debt ratings on Berkshire Hathaway Inc....
Marsh Sees First Quarter Bump in Revenue, New Business
May 7 2008 // Marsh reported financial results for the first quarter ended March 31, 2008 that showed insurance revenues up 7 percent and new insurance business up 10 percent. But overall Marsh & McLennan Companies, Inc. (MMC)...
