Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
64% of firms suffer loss due to cyber incidents
Feb 6 2006 // The FBI reports that 9 out of 10 organizations in the country are victims of some sort of computer security incident, and one-fifth are hit more than 20 times a year. Almost two-thirds suffer financial loss as a result of...
Risk models show industry burden under TRIA
Feb 6 2006 // The extension of the federal Terrorism Risk Insurance Act represents solvency protection in extreme events but is not an industry subsidy, according to risk modeling experts at Risk Management Solutions and AIR Worldwide...
News Currents
Feb 5 2006 // Risk models show industry burden under TRIA The extension of the federal Terrorism Risk Insurance Act represents solvency protection in extreme events but is not an industry subsidy, according to risk modeling experts at...
Travelers’ Profits Drop in Fourth Quarter, Asbestos, Cat Losses Listed
Feb 3 2006 // St. Paul Travelers Cos., the nation’s second largest business insurer, said its profit fell in the fourth quarter as it absorbed big charges for boosting asbestos reserves and losses from the hurricanes that hit the...
Brit Forecasts Upbeat Profit Picture
Feb 2 2006 // Brit Insurance Holdings PLC, the UK-based international general insurer and reinsurer, has issued a positive earnings forecast for 2006. The company based its estimates on a “good performance both in its...
Allstate Earnings Drop 9% on Hurricane Damages from 3 Storms
Feb 2 2006 // Insurer Allstate Corp. says it has settled about 75 percent of the property claims and nearly all auto claims stemming from Hurricanes Katrina, Rita and Wilma. But the company cited Wilma, which battered south Florida in...
Study Examines Non-Profit Exposures and Legal Risks
Feb 1 2006 // Non-profits face exposure to a wide array of legal risks, according to a study on non-profit organizations’ risks. The study suggests that some exposures are unique to non-profits and may arise, for example, from an...
ACE Posts $237 Million Q4 Net Profit; Over $1 Billion Full Year
Feb 1 2006 // At least one Bermuda-based company seems to have weathered the storms of 2005 reasonably well. Ace Limited reported $237 million net income for the fourth quarter – a 15 percent drop from 2004 – and $1.029...
Chubb Sees Q4 Net Income of $614M; Up from 2004 Performance
Jan 31 2006 // The Chubb Corp. reported that net income in the fourth quarter of 2005 was $614 million or $2.92 per share, compared to $468 million or $2.39 per share in the fourth quarter of 2004. Operating income, which the company...
Hanover Boasts Big Jump in Q4
Jan 31 2006 // The Hanover Insurance Group Inc., based in Worcester, Mass., reported a big increase in net income for the fourth quarter of $114.5 million, or $2.11 per share, compared to net income of $63.1 million, or $1.18 per share...
AXA Reports Strong Q4 Earnings; Annual Revenue up 6.9%
Jan 27 2006 // France’s AXA Group reported excellent results for the last quarter of 2005 and a full year increase in gross revenues of 6.9 percent. Overall sales rose from €67 billion ($33.72 billion) in 2004 to €71.7 billion...
NAMIC Works with Indiana Farm Mutuals to Correct Tax Code Mistake
Jan 27 2006 // The National Association of Mutual Insurance Companies and the Mutual Insurance Companies Association of Indiana are working together to address a mistake in Indiana’s 2002 tax code revision which erroneously raised...
RLI Sets Record Year; Exits Construction Market
Jan 26 2006 // Peoria, Illinois-based RLI Corp. recently reported record 2005 net earnings, while at the same time announcing the company’s decision to exit the construction market. RLI said that net earnings were $107.1 million...
The Hartford Sees Q4 2005 Net Income of $474 Million
Jan 26 2006 // The Hartford Financial Services Group Inc. reported fourth quarter 2005 net income of $474 million, or $1.53 per diluted share. The company’s net income reached $2.3 billion for the year, a new record for the...
IPC Holdings Updates 2005 Hurricane Loss estimates to $744 Million
Jan 24 2006 // Bermuda-based IPC Holdings, Ltd. has updated, which is to say increased, the estimated impact on its 2005 results from hurricanes Katrina, Rita and Wilma. “Based upon current analysis, which has been updated using...
Safeco Posts Nearly 5 Percent Revenue Increase
Jan 24 2006 // Seattle-based Safeco has announced its fourth quarter and year-end results. The company reported its net income for the fourth quarter of 2005 was $190.7 million, compared with $179.8 million during the same period the...
EPI Study Says Premium Jumps Mean Job Loss for Low-Skilled Employees
Jan 24 2006 // A study released Tuesday by the Employment Policies Institute (EPI) reveals that as the cost of insurance premiums rise, pressure on businesses to keep labor costs in check results in job loss and involuntary part-time...
Analysts predict faster P/C premium growth, underwriting profit
Jan 23 2006 // Each year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the year ahead. This year’s survey results indicate...
A seriously shaken reinsurance industry rebuilds
Jan 23 2006 // Although Katrina is long gone, the clouds of misfortune she and her sisters generated will linger for decades. They radiate well beyond Louisiana, Florida, Texas, Mississippi, Alabama and other regions into the heart of...
2006 looking good already for P/C industry
Jan 23 2006 // ‘The expectation for a third consecutive underwriting profit in 2006 is, of course, predicated on the belief that catastrophe activity will return to more “normal” levels. Record catastrophe losses will...
