Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Hiscox 2007 Net up 18% to $471M
Mar 4 2008 // Bermuda-based Hiscox Ltd. posted a strong profit gain in 2007. Results, released yesterday, March 3, showed a record setting £237.2 million ($471 million) pretax profit, compared to £201.1 million ($399.5 million) in...
RMS Ups UK Quake Loss Estimates: $30 to $60 Million
Mar 3 2008 // Risk Management Solutions has given updated estimates of the likely insured losses caused by the earthquake that struck Market Rasen in Lincolnshire in Northeast England on Thursday (See IJ web site –...
Swiss Re Profit Down Less than Expected
Feb 29 2008 // Swiss Re, the world’s biggest reinsurer, made better than expected 2007 net profit, as it escaped further subprime writedowns in the fourth quarter, and gave a confident earnings outlook. It reported on Friday a...
AmComp Announces 2007 Fourth Quarter and Year-End Figures
Feb 29 2008 // Florida-based AmCOMP Inc., announced results for the fourth quarter and 2007 year-end results. For calendar year 2007, net income increased 13.7 percent to $18.8 million, compared to net income of $16.6 million for the...
Berkshire Net Down 18%; Buffett Eyes Successors, Lower Insurance Earnings Ahead
Feb 29 2008 // Warren Buffett’s Berkshire Hathaway Inc. said Friday quarterly profit fell 18 percent, hurt by lower earnings from insurance underwriting and a decrease in investment gains. In his annual letter to Berkshire...
AXA Earnings: Net Income up 11% to $8.55 Billion; Conference Call Today
Feb 28 2008 // France’s AXA Group reported strong results for 2007. The earnings release cited the growth in underlying earnings up 27 percent to €4.963 billion [$7.5 billion] (up 15 percent on a comparable basis). Adjusted...
Lexington Insurance Co. Sues to Recoup Losses in Iowa Mansion Fire
Feb 27 2008 // An insurance company that insured a $3 million Bettendorf house destroyed in a fire is suing several businesses to recover its losses. Lexington Insurance Co. blames the fire on the contractors who built the home, the...
AIG Expected to Post Rare 4Q Loss on Write-Down
Feb 27 2008 // American International Group , the world’s largest insurer, is expected to report a quarterly loss Thursday, with crippled mortgage investments taking a $5 billion bite out of its derivatives...
QBE Net Profits up 30% to US$1.786 Billion
Feb 26 2008 // Australia’s QBE Insurance Group announced that operating profit after tax for the year ended 31 December 2007 was up 30 percent to a record A$1.925 billion ($US1.786 billion). Other key highlights for the year were...
CNinsure Reports Q4, FY Financial Results
Feb 26 2008 // China’s CNinsure Inc. has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007. The bulletin noted that the earnings announcement “contains translations of...
Coastal Growth, Not Global Warming, Blamed for Rising Storm Losses
Feb 25 2008 // A hurricane that hit Miami in 1926 would cause up to $157 billion in damage if it were to strike today, according to a recent study. U.S. storm costs are rising because of higher populations and wealth on the coasts, not a...
Montpelier Re Q4 Net Drops; FY Net up Slightly; Book Value Increased
Feb 25 2008 // Bermuda-based Montpelier Re Holdings Ltd. led off its earnings report with the good news. The Company reported a fully converted book value per share of $17.88 as at December 31, 2007, an increase of 5.4 percent and 17.6...
Munich Re 2007 Profit Rises 11.9% to $5.835 Billion
Feb 25 2008 // The Munich Re Group announced consolidated profits for 2007 of €3.937 billion ($5.836 billion), surpassing its increased profit guidance of €3.5 to €3.8 billion ($5.18 to $5.63 billion) announced in August. The...
Hedging Against Losses
Feb 24 2008 // How to navigate risk and find coverage solutions for hedge funds and their managers Hedge funds manage financial risk every day. Managers constantly seek out new strategies and investments, and then weigh the potential...
Growing Market Share and Revenue Through Financial Services
Feb 24 2008 // For years, property casualty (P/C) agencies have been making the jump into offering personal insurance — life, long-term care and disability — as an adjunct to their traditional products. Brokers have realized that the...
AIG’s $5 Billion Write-Down Has Rating Agencies, Wall Street Concerned
Feb 24 2008 // Some observers speculate the fallout could lead to additional woes for AIG including possibly CEO Sullivan’s exit While American International Group Inc. sought to downplay its miscalculation of losses on a...
Things to Consider When Estimating Subprime D&O Losses
Feb 24 2008 // There are likely to be more securities class action lawsuits in 2008 than any year since the passage of the Private Securities Litigation Reform Act in 1995. In addition, the subprime-related litigation wave is likely to...
Quarterly Profit Down 62% at Marsh; 2007 Revenues Up 8%
Feb 24 2008 // Quarterly profits at Marsh & McLennan dropped 62 percent, as fourth quarter and annual revenues rose 8 percent. The giant insurance brokerage reported that fourth quarter net income dropped to $85 million, or 16 cents...
Allianz Releases 2007 Earnings Figures
Feb 21 2008 // Germany’s Allianz SE has released its official earnings report for 2007, which shows some declines from the preliminary earnings announcement it released last month (See IJ web site –...
Platinum Reports Q4, FY Net Income Gains
Feb 21 2008 // Platinum Underwriters Holdings, Ltd. refused to follow the current earnings report script – declines in the fourth quarter, increases for the full year. The Bermuda-based reinsurer reported fourth quarter net after...
