Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Horace Mann Estimates Hurricane Loss
Oct 13 2005 // Illinois-based Horace Mann Educators Corporation estimates its financial impact from Hurricanes Katrina and Rita will total approximately $29 million to $33 million pretax, net of anticipated reinsurance...
Specialty Underwriters’ Alliance: No Expected Losses from Hurricanes
Oct 13 2005 // Chicago-based Specialty Underwriters’ Alliance Inc. reported that it does not expect any losses related to the recent hurricane activity. SUA President and Chief Executive Officer Courtney Smith stated, “Our...
Allied World Katrina Losses Between $200-$250 Million
Oct 12 2005 // Bermuda-based Allied World Assurance Holdings, Ltd. said it expects net losses arising from Hurricane Katrina to be in the $200 to $250 million range. “Our preliminary estimate is based on a combination of factors,...
State Auto Estimates Q2 Cat Losses
Oct 12 2005 // State Auto Financial Corporation today announced it estimates that catastrophic storms during the third quarter of 2005 will produce between $42 and $46 million in pre-tax losses for STFC. This is expected to add between...
Arch Gives Q3 Loss Estimates
Oct 11 2005 // The Bermuda-based Arch Capital Group Ltd. announced that it expects 2005 third quarter operating earnings to be negatively impacted by the effects of recent catastrophic events as follows: Hurricane Katrina – $173...
Fitch Maintains PXRE’s Watch Negative After Capital Raising
Oct 11 2005 // Fitch Ratings indicated that its ratings for the bermuda-based PXRE Group Ltd. and its operating subsidiaries would “remain on Rating Watch Negative following PXRE’s successful capital raising in the form of...
Safeco: Rita Losses at $27 Million
Oct 11 2005 // Seattle-based Safeco announced estimated after-tax catastrophe losses from Hurricane Rita of $27 million, or $0.21 per diluted share. Pretax catastrophe losses from the storm are estimated at $42 million. These figures...
HCC Estimates Rita Loss at $70 Million
Oct 11 2005 // HCC Insurance Holdings Inc. announced that the Houston-based property/casualty insurer estimates a gross loss of $70 million from Hurricane Rita arising primarily from onshore and offshore energy, property, marine and...
State Auto Unveils Q3 CAT Losses
Oct 11 2005 // Ohio-based State Auto Financial Corporation estimates that catastrophic storms during the third quarter of 2005 will produce between $42 and $46 million in pre-tax losses for STFC. This is expected to add between 15 and 17...
For N.H. Agent, a Helpless Feeling Amid the Suffering and Loss
Oct 11 2005 // New Hampshire independent insurance agent Tom Minkler got his first call Sunday morning at 5 a.m. Since then, the phones haven’t stopped ringing. Minkler isn’t bothered by the calls. What bothers him is having...
New Tax Law Eases Loss Limitations for Katrina Victims
Oct 11 2005 // The Internal Revenue Service is advising taxpayers who suffered casualty or theft losses as a result of Hurricane Katrina about a recent change to the tax law. A new provision lifts certain loss limitations for Hurricane...
Max Re Sees 9-Month Profit
Oct 10 2005 // Bermuda-based Max Re Capital Ltd. has issued a preliminary statement indicating that, despite the natural catastrophes of the third quarter of 2005, it still foresees overall net income for the first nine months of the...
Goshawk Ups Hurricane Loss Estimates; Plans to Raise Capital
Oct 10 2005 // The U.K.’s Goshawk Insurance Holdings plc announced that it has increased its gross hurricane loss estimates from by 30 percent – from $99 million to $130 million. For Katrina Goshawk’s estimate is now up...
Hiscox: Rita Losses $70 Million; Ups Katrina Estimates, 2006 Premium Limit
Oct 10 2005 // The U.K.-based Lloyd’s and specialty insurer Hiscox Plc issued a statement indicating that its preliminary loss estimates from Hurricane Rita are around $70 million. Hiscox also said that, based on current industry...
OdysseyRe Updates Katrina Losses to $225 Million; Rita Loss $50 Million; Announces $102 Million Share Sale
Oct 7 2005 // Odyssey Re Holdings Corp., which is 80 percent owned by Canada’s Fairfax Financial Holdings Limited, announced from its Stamford Conn. headquarters that it has updated its estimate of losses from Hurricane...
Platinum: Rita Loss at $45 Million Net
Oct 7 2005 // Bermuda-based Platinum Underwriters Holdings, Ltd. announced that, based on currently available information, it estimates that its losses, net of reinstatement premiums, tax benefits and retrocessional recoveries, from...
Berkley Updates Q3 Losses
Oct 7 2005 // W. R. Berkley Corp. reported its estimate of aggregate losses attributable to hurricanes in the third quarter of 2005 to be approximately $50 million pre-tax and $32 million (or 24 cents per share) after-tax. The...
Republic Says Losses from Rita and Katrina Should Fall Within Expectations
Oct 6 2005 // Dallas-based Republic Companies Group Inc. released information regarding its response to the recent hurricanes and the financial effects on the company’s third quarter results. Its personnel and representatives were...
Tillinghast: Hurricane Katrina Will Cost Record-Setting $40-$55B for Privately Insured Losses
Oct 6 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. Hurricane Katrina:...
American National Revises Katrina Losses, Unveils Estimate for Rita
Oct 6 2005 // Texas-based American National Insurance Company announced that its subsidiary property and casualty companies, including American National Property and Casualty (ANPAC) and ANPAC Louisiana Insurance Company and their...
