Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
AIR Sees Possible $50 Billion European Windstorm Insured Losses
Oct 26 2006 // Boston-based consultant and catastrophe risk modeler AIR Worldwide Corporation has released a new analysis of European extratropical cyclones, which confirms that Europe could experience a winter storm resulting in insured...
XL Posts $415.8 Million Q3 Net Income
Oct 26 2006 // Bermuda’s XL Capital Ltd. became the latest major insurer based on the island to report strong income gains in the third quarter of 2006. XL posted net income available to ordinary shareholders for the quarter of...
ACE Posts Record Q3 Net Income of $578 Million; Conference Call Today
Oct 25 2006 // The parade of good third quarter results continues, with Bermuda’s largest insurer, ACE Limited, posting net income for the period of $578 million, compared to a $112 million loss in Q3 2005. Excluding capital losses...
Everest Re Posts $240.2 Million Q3 Operating Income
Oct 25 2006 // Everest Re Group, Ltd. joined a growing list of Bermuda-based insurers who have seen their third quarter profits rebound sharply from last year’s disastrous results. The Group reported third quarter 2006 after-tax...
PartnerRe Q3, 9-Month Operating Earnings Show Big Gain; Conference Call Details
Oct 24 2006 // What a difference benign weather can make on a reinsurance company’s earnings. Bermuda’s Partner Re Group announced record net operating earnings of $205.052 million, compared to a $345.176 million loss in Q3...
Fiess: Texas Supreme Court speaks
Oct 23 2006 // Despite the mandate of new mold endorsements and adoption of new forms, there has been a great deal of continuing litigation in Texas under the Homeowners B form as to when mold is covered. The focus has been on the...
Top 10 Bank Holding Companies in Total Insurance Income
Oct 23 2006 // Rank Rank 1st half End of Total Insurance 2006 2005 Income ($000s) Bank Holding Company State 1 1 $1,570,000 CitiGroup Inc. N.Y. 2 2 $728,000 Wells Fargo & Co. Calif. 3 5 $580,777 Countrywide Financial...
Hurricane risk reduces prospective profit of homeowners insurance
Oct 23 2006 // Increases in homeowners insurance rates have not been sufficient thus far to provide an adequate return on equity on homeowners insurance, making further increases necessary, according to an analysis by Aon Re. With...
News Currents
Oct 23 2006 // Banks’ insurance revenues, insurance brokerage fees up The nation’s bank holding companies increased their total insurance revenue 1.1 percent to $21.4 billion in the first half of 2006 from $21.2 billion...
P/C insurers’ profitability drops in first-half of 2006
Oct 23 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...
Allstate Swings to $1.16 Billion Gain in 3rd Quarter with Fewer Hurricanes
Oct 19 2006 // Northbrook, Ill.-based Allstate Corp., the second-largest U.S. personal-lines insurer behind State Farm, reported a $1.16 billion third-quarter profit Wednesday as it benefited from a quiet hurricane season. The company...
Ohio Sky Financial to Hold 3rd Quarter Earnings Conference Call Today
Oct 18 2006 // Ohio-based Sky Financial Group, Inc. announced it expects to report third quarter earnings on Wednesday, Oct. 18, 2006. The earnings release and supporting financial data will be available the morning of Oct. 18 on the...
Mercury General to Report Third Quarter Results on November 6
Oct 12 2006 // Mercury General Corp. reported that on Monday, Nov. 6, 2006, the company will release results for its third quarter ended Sept.30, 2006. CEO George Joseph and President Gabriel Tirador,will host an investor conference call...
Hurricane Risk Reduces Prospective Profit of Homeowners Insurance
Oct 11 2006 // Increases in homeowners insurance rates have not been sufficient thus far to provide an adequate return on equity on homeowners insurance, making further increases necessary, according to an analysis by Aon Re, the...
Banks’ Insurance Revenues, Insurance Brokerage Fees Up
Oct 10 2006 // The nation’s bank holding companies increased their total insurance revenue 1.1 percent to $21.4 billion in the first half of 2006 from $21.2 billion during the same period in 2005. Bank holding companies’...
Auto Premium Rating Error Cost U.S. Auto Insurers More Than $16 Billion
Oct 3 2006 // San Francisco-based Quality Planning Corp., the rating integrity solutions company, today released its annual Premium Rating Error report, showing premium rating errors remain a drag on auto insurer profitability. QPC...
P/C Insurers’ Profitability Drops in First-Half of 2006
Oct 2 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...
Benfield Reports on European Reinsurers Strong H1 Results
Sep 28 2006 // Independent reinsurance and risk intermediary Benfield has just released its latest European Quarterly Report, entitled “Hoping for the Best,” covering the first half results of European reinsurance groups. The...
Lloyd’s Posts $2.55 Billion H1 Profit
Sep 27 2006 // Lloyd’s announced overall first half profits of £1.3 billion ($2.553 billion), slightly below the £1.38 billion ($2.61 billion) it earned in the same period of 2005. Unfortunately Katrina, Rita and Wilma wiped out...
P/C insurers’ performance exceeding Fitch estimates for 2006
Sep 25 2006 // The U.S. property/casualty insurance industry showed continued favorable and improved operating performance in the first half of 2006 and, based on results and barring any unusual events going forward, the industry is...
