Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Best’s 2006 European review highlights common industry concerns
Aug 7 2006 // For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal...
When insuring international trade, expect the world
Aug 7 2006 // Shipments are delayed, damaged, lost or stolen around the globe with a frequency that is probably not surprising. What is surprising is how significantly the effects of those losses could be mitigated. Think how few things...
Fighting future losses in the midst of fire season
Aug 7 2006 // With 68,775 blazes already this year, the 2006 wildfire season is well on its way to becoming the worst in 10 years, according to the National Interagency Fire Center (NIFC). Its data shows 5.03 million acres have burned,...
Wagging the dog
Aug 7 2006 // Until recently the reinsurance world was a galaxy far, far away. That changed after the 2000 stock market crash, the Sept. 11 attacks and, more recently, the hurricanes that struck Florida, New Orleans, Texas and other...
A few tidbits to know when writing yacht policies
Aug 7 2006 // It is an unfortunate fact that while yacht insurance policies are relatively commonplace today, and many similarities exist between the various policies offered, individual insureds continue to be confused about coverages...
St. Paul Travelers’ 2nd quarter profits dip 9%
Aug 7 2006 // Insurer St. Paul Traveler’s Companies Inc. said its profit fell 9 percent in the second quarter, but still beat analysts’ expectations. The company also disclosed a $42 million charge “for an additional...
Insuring energy risks for profit isn’t getting any easier
Aug 7 2006 // Underwriting energy risks is not for the faint-hearted, even during the best of times. The nature of these risks (with high concentration of values, highly flammable substances, harsh operating conditions, often in hostile...
Best’s 2006 European review highlights common industry concerns
Aug 7 2006 // For the insurance industry, global controversies tend to obscure some equally important debates going on in smaller forums around the globe. The principal controversy in the U.S. revolves around state vs. federal...
Chubb chugsalong in 2nd quarter
Aug 7 2006 // The Chubb Corporation reported that net income in the second quarter of 2006 was $598 million, or $1.41 per share, compared to $495 million, or $1.23 per share, in the second quarter of 2005. Operating income, which the...
Swiss Re 1st Half Profit up 16% to $1.27 Billion
Aug 4 2006 // Swiss Re reported a successful first half of 2006 with net income of CHF 1.566 billion ($1.27 billion), a 16 percent increase compared to a strong first half of 2005. Annualized return on equity was 13.9 percent and...
Willis “Organic Growth” up 10% Despite Overall Q2 Net Income Decline
Aug 4 2006 // Although Willis Group Holdings reported net income of $72 million for the second quarter of 2006, a 37 percent drop from the $114 million it earned in Q2 2005, most of the earnings report was decidedly positive....
Marsh & McLennan 2Q Profits Below Estimates
Aug 4 2006 // Marsh & McLennan Companies Inc., the nation’s largest insurance brokerage, on Thursday said its profits were flat in the second quarter on weakness in European sales and human resources consulting. The earnings...
Tower Group Reports Net Income Rose 158% in 2Q
Aug 4 2006 // Tower Group, Inc. reported a 158 percent increase in second quarter of 2006 net income to $12.3 million ($0.61 per diluted share) as compared to net income of $4.8 million ($0.24 per diluted share) in the second quarter of...
Chicago Specialty Underwriters’ Alliance Reports Profitable 2nd Quarter
Aug 4 2006 // Chicago-based Specialty Underwriters’ Alliance, Inc., “SUA” recently reported net income of $2.2 million, or $0.14 per share, for the three months ended June 30, 2006, compared with a net loss of $4.0...
Munich Re Posts 143% Gain in 1st Half Profits to $3.47 Billion
Aug 3 2006 // Germany’s Munich Re may no longer be the world’s biggest reinsurer, but it can still make a great deal of money, posting a profit of €2.129 billion ($3.47 billion) for the first six months of the year....
RenRe Posts Q2 Results, 32% Increase in Cat Premiums
Aug 2 2006 // Renaissance Re, Bermuda’s leading property catastrophe reinsurer, posted net income of $130.4 million, or $1.81 per common share, for the second quarter of 2006, compared to net income of $172 million or $2.39 per...
Safeco Reports Strong Profitability in Second Quarter
Aug 2 2006 // Seattle-based Safeco has reported second-quarter net income of $199.7 million, reflecting consistent, profitable underwriting performance across all major lines of business. According to the company, it initiated expense...
Best Reports P/C Underwriting Income Up 21% in 1st Quarter
Aug 2 2006 // The U.S. property/casualty industry’s underwriting income improved 21.0 percent to $8.3 billion in first quarter 2006 from $6.8 billion in first quarter 2005, according to a new special report by A.M. Best Co....
GoodWorks Agency Lands Mass. Non-Profit Shaker Village Through HRH
Aug 1 2006 // GoodWorks Insurance, LLC announced that the first insurance client under its recently established insurance brokerage agreement with Hilb Rogal & Hobbs, Connecticut (HRH) was written on behalf of the Hancock Shaker...
Markel to Discuss 2d Quarter Results in Aug. 2 Call
Aug 1 2006 // Markel Corporation in Richmond, Va. said it will hold a conference call on Wednesday, August 2, 2006 beginning at 10:30 am (Eastern Daylight Savings Time) to discuss quarterly results. Investors, analysts and the general...
