Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Top 20 Banks in Insurance Brokerage Fee Income (2006/Nationally)
Apr 9 2007 // Rank 2006 Insurance Brokerage Fee Bank Income Name City, State Web site 1 $973.0 million Citibank N.A. Las Vegas, Nev. www.citibank.com 2 $799.4 million Branch Banking and Trust Co. Winston-Salem, N.C. www.bbt.com 3 $190.1...
SCOR Profits Soar to $338 Million
Apr 6 2007 // France’s SCOR Group announced a 92 percent increase in net income for 2006 to €252 million ($338 million) before, what the report termed, “badwill” linked to the acquisition of Revios. Essentially the...
New Mexico Insured Tornado Losses Estimated at $16.5 Million
Apr 6 2007 // Tornado and hail that tore across New Mexico in March has an estimated insurance price tage of $16.5 million, according to the Rocky Mountain Insurance Information Association. The association said insurance adjusters have...
Best Rates Lufthansa Captives ‘B++’
Apr 5 2007 // A.M. Best Co. has assigned a financial strength rating of “B++” (Good) and an issuer credit rating of “bbb” to Germany’s Delvag Luftfahrtversicherungs-AG, and its subsidiary, Delvag...
FBI to Launch Retail Theft, Loss Prevention Database
Apr 5 2007 // In response to Congressional legislation intended to combat the growing problem of organized retail theft, the FBI has worked with the National Retail Federation (NRF) and the Retail Industry Leader’s Association...
Safeco To Host Webcast on Q1 Results May 1
Apr 5 2007 // Seattle-based Safeco will be hosting a live Internet broadcast on Tuesday, May 11 at 11 a.m. EST to discuss its first quarter financial results. To listen in on the conference, visit www.safeco.com/irwebcast at the...
Alea Posts Earnings; Agrees to be Acquired by FIN Acquisition
Apr 4 2007 // Concurrent with the release of its final results for 2006, the Alea Group announced that it has “reached agreement on the terms of a recommended cash acquisition of Alea by FIN Acquisition, a company formed at the...
Nevada’s Employers Holdings Hosts Conference Call on Q4, 2006 Earnings
Mar 30 2007 // Reno, Nev.-based Employers Holdings Inc. has reported financial results for the full-year and fourth quarter of 2006. For 2006, consolidated 2006 net income increased 24.7 percent to $171.6 million from $137.6 million in...
Lloyd’s Posts Record Pre-tax Profit – Over $7 Billion
Mar 29 2007 // What a difference a year makes. Lloyd’s has just announced pretax profits for 2006 of £3.662 billion ($7.2 billion) compared to the £103 million ($202 million) loss figure posted in 2005. Lloyd’s also posted...
Insurers Reject Critics Who Say Big Profits Are at Claimants’ Expense
Mar 28 2007 // The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent for the year. St. Paul Travelers’ earnings rose sixfold in the...
Best Affirms NZ’s Tower Ratings
Mar 27 2007 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb-” of New Zealand’s Tower Limited, as well as the financial strength rating of “A-” (Excellent) and the ICR of “a-”...
Texas orders homeowners carriers to justify rates
Mar 26 2007 // The Texas Department of Insurance said on Mar. 9, 2007, it will require homeowner insurance carriers to file and justify their current rates in the coming months. The department said 2006 loss ratios, recent changes in the...
Swiss Re sigma study details 2006 natural, man-made disasters
Mar 26 2007 // in its just released sigma study, “Natural catastrophes and man-made disasters in 2006”, Swiss Re notes that “losses due to natural catastrophes and man-made disasters were below the long-term trend in...
Swiss Re sigma study details 2006 natural, man-made disasters
Mar 26 2007 // In its just released sigma study, “Natural catastrophes and man-made disasters in 2006”, Swiss Re notes that “losses due to natural catastrophes and man-made disasters were below the long-term trend in...
Ga.: Losses from March 1 Storms Top $210 Million
Mar 19 2007 // Damage from March 1 storms that ripped through southwest and central Georgia reached $210 million in insured losses, making it the state’s worst disaster in that category. The losses exceeded $150 million caused by...
Study Reveals Potential for $100 Billion Earthquake Loss in Beijing, China
Mar 16 2007 // Risk Management Solutions (RMS) announced the preliminary results of a study analyzing the impacts of the 1679 Sanhe-Pinggu Earthquake based on the 2007 population and property exposures of the Beijing, China area. The...
Brown & Brown Picks New Leaders for Denver, Phoenix Profit Centers
Mar 16 2007 // Brown & Brown Insurance of Arizona Inc. has named John I. Slater as the new profit center leader for the company’s Phoenix area retail profit center. He will be responsible for the growth and profitability of...
ACE Survey Shows Data Loss is Top Operational Risk Threat
Mar 16 2007 // One in three global businesses see loss of data as a significant threat and the key issue to address in operational risk management planning, according to the latest global risk briefing report conducted by the Economist...
Guy Carpenter Launches ‘SelectCat’ Reinsurance Pricing & Loss Index
Mar 14 2007 // Guy Carpenter & Company, LLC, the risk and reinsurance specialist of the Marsh & McLennan Companies, has launched SelectCat, which it describes as “an innovative, index-based product that provides...
Hiscox Profits up 186% to $388 Million
Mar 13 2007 // The newly Bermuda-based Hiscox Ltd. announced greatly improved preliminary results for the year ended December 31, 2006, with record pretax profits of £201.1 million ($388 million) compared to £70.2 million ($135.5...
