Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lloyd’s Recorded Strong 2004 Profit Despite Hits from Natural Catastrophes
Apr 6 2005 // Lloyd’s of London announced an annually accounted profit of $2,605 million in 2004. Although below profits of 2003, this result was achieved despite net claims of $2.3 billion from the U.S. hurricanes, in the...
Odyssey Re Increase Storm Loss Estimates
Apr 4 2005 // Odyssey Re Holdings Corp. announced that it expects after-tax net losses in the range of $26 million to $29 million during the first quarter of 2005. The increase is attributable to losses from Windstorm Erwin and an...
How to Float to the Top and Other Words of Wisdom
Apr 4 2005 // Berkshire Hathaway’s Buffett on Insurance Economics, 2004 Results By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s...
Regulators Look for a Clue
Apr 4 2005 // Was it Colonel ChoicePoint in the Conservatory With a Knife? When ChoicePoint Asset Co. finally disclosed Feb. 15 that criminals had gained access to the personal information of as many as 145,000 people in all 50 states,...
PAULA Financial Reports Net Income for Fiscal
Apr 1 2005 // PAULA Financial reported net income for the fiscal year 2004 of $0.14 per share compared to $0.22 per share in 2003. Net income for the fourth quarter 2004 was $0.01 per share compared to $0.08 per share in the 2003...
Software Developer Ebix Reports 2004 Year-End, Fourth-Quarter Results
Mar 31 2005 // Ebix Inc., an Atlanta-based international developer and supplier of software and e-commerce solutions to the insurance industry, has reported financial results for the fourth quarter (Q4 ’04) and year ended Dec. 31,...
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
Conn. Gov. Rell ‘Unhappy’ Over Possible Big Job Losses from MetLife Buy of Travelers Life
Mar 30 2005 // Connecticut Governor M. Jodi Rell said today she is “extremely unhappy” as she learns more about the possibility of significant job losses resulting from MetLife’s planned acquisition of Travelers Life...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
AIG Again Delays Filing of 10-K Annual Report; Discloses Details About Gen Re, Offshore, Starr Dealings
Mar 30 2005 // American International Group, Inc. announced that the filing of its 2004 Form 10-K will be delayed beyond the March 31, 2005 extended due date in order to provide AIG, its board of directors and its new management more...
Bank Insurance Brokerage Fee Income Jumps 22% to Record $3.6 Billion
Mar 28 2005 // Banks increased their 2004 insurance brokerage fee income by 22.2 percent from $2.97 billion in 2003 to a record $3.63 billion earned in 2004, according to Michael White’s 2004 Year-End Bank Insurance &...
Pa. Man Sentenced in Murder-for-Profit Plot
Mar 25 2005 // A man who pleaded guilty to hiring a hit man to kill a used car dealer for insurance money was sentenced to 20 years in prison. Lawrence A. Skiba of White Oak sobbed after a federal judge sentenced him for his role in a...
SCOR Posts $89.4 Million 2004 Net Profit
Mar 24 2005 // French reinsurer SCOR Group returned to profitability in 2004 posting net income of 68.7 million euros ($89.4 million) on gross written premiums of 2.528 billion euros ($3.29 billion). The group posted a 314 million euro...
Mich. DOI Study Finds Competition Doesn’t Equal Affordability; Insurers Say Losses Driving Rates
Mar 24 2005 // Michigan’s Office of Financial and Insurance Services last week released the results of its long-awaited study of competitiveness in the state’s insurance market. While the report found competition under the...
S&P Comments on SCOR’s Earnings Announcement
Mar 24 2005 // Standard & Poor’s Ratings Services indicated that its ratings and outlook on French reinsurer SCOR and its guaranteed subsidiaries – currently “BBB+” with a positive outlook – would not...
MarshMac Emerges from Difficult Year with Downsizing and Disclosure Plan
Mar 21 2005 // Marsh Will Drop ‘Unprofitable’ Accounts But MMC Will Keep Putnam and Mercer Units Giant insurance broker Marsh, battered by regulators, soft market prices and competitors in 2004, plans on dropping thousands of...
Workers’ Comp Loss Prevention: Going Beyond the Safety Dance
Mar 21 2005 // You work hard, yet you’re frustrated. Why is your client still suffering from employee injury problems and escalating workers’ compensation insurance cost regardless of your efforts? So, is the solution to do...
Roofing Contractors, Workers’ Compensation Insurance and Profits
Mar 21 2005 // Making the Puzzle Pieces Fit Begin a conversation with any roofing contractor with the words workers’ comp insurance and profits in the same sentence and you’ll probably be met with a confused look. By all...
OIL Hit by Ivan Posts $548 Million Net Loss in 2004
Mar 21 2005 // Oil Insurance Limited (OIL), the Bermuda-based mutual company, which currently insures 83 energy companies, was heavily impacted by 2004’s hurricanes, especially Ivan. The storm’s “slow track across the...
S&P, Best Comment on Allianz 2004 Earnings
Mar 18 2005 // Standard & Poor’s Ratings Services noted that “the improved 2004 results published by Allianz AG (See previous article),” (rated “AA-” Negative outlook – “/A-1+) were in line...
