Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Benfield Reports 2004 Preliminary Results; Profits Hit by Falling Dollar
Mar 11 2005 // The U.K.’s Benfield Group Limited, a leading independent reinsurance and risk intermediary, announced its preliminary results for the year ended Dec. 31, 2004. Profits were essentially flat as the company, which...
R&SA Posts $1.92 Million 2004 Profit; Names Two New U.S. Board Members
Mar 10 2005 // The U.K.’s Royal & Sun Alliance continues on the road to recovery, posting a £1 million ($1.92 million) net pretax profit and an operating result of £456 million ($876 million), compared to £140 million ($269...
Aviva Operating Profits up 25% to $4.5 Billion; Offers $2.11 Billion for RAC; Best, S&P Comment
Mar 10 2005 // Aviva (formerly CGNU/Norwich Union) announced a net operating profit for 2004 of £2.344 billion ($4.5 billion), a 25 percent increase from 2003’s £1.72 billion ($3.3 billion). The U.K.’ largest insurer also...
Brooke’s Annual Earnings Increase 61%
Mar 10 2005 // Overland Park, Kan.-based agency franchisor Brooke Corp. announced that 2004 earnings totaled $6.7 million, or 65 cents per diluted share, on 2004 revenues of more than $101 million. Annual earnings increased about 61...
Berkshire Hathaway Chairman Warren Buffett on Insurance Economics and 2004 Results
Mar 8 2005 // By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5% fell short of the S&P 500 Index’s 10.9%...
NAMIC SOX, Loss History Positions Sway State Insurance Legislators; NCOIL Adopts Broker Compensation Model Act
Mar 8 2005 // National Association of Mutual Insurance Companies (NAMIC) testimony convinced state insurance legislators to object to the application of Sarbanes-Oxley to mutual insurers and to not adopt a loss history database model...
CAAA SAYS WORKERS’ COMP PROFITS UP 25%-36%:
Mar 7 2005 // Fourth quarter and 2004 annual earnings statements from leading California workers’ comp insurance carriers are coming in, and profits are reportedly up by 25 to 36 percent over 2003–and 2003 was already the...
S&P REPORT SAYS HURRICANE LOSSES PUT PRESSURE ON INSURERS’ EQUITY:
Mar 7 2005 // The shareholders’ equity of many insurers and reinsurers is coming under greater pressure than anticipated as P/C losses from the 2004 hurricane season continue to rise with new estimates, according to a report by...
Killer Tsunamis and the Marine Insurance Market
Mar 7 2005 // Early in the morning on Dec. 26, 2004, opposing subterranean tectonic plates deep beneath the Indian Ocean floor shifted in violent unison along a line about 300 miles long. The energy released was on par with a 50-kiloton...
EMC Posts $489,000 Q4 Loss
Mar 6 2005 // Des Moines, Iowa-based property/casualty carrier EMC Insurance Group posted a fourth-quarter loss of $489,000, or 4 cents a share, thanks to a $15.4 million hit on adverse developments on prior years’ reserves. The...
Allied World Assurance Unveils Q4 Report
Mar 2 2005 // Bermuda-based Allied World Assurance Holdings Ltd. reported record net income of $103.0 million for the fourth quarter 2004, compared to $87.2 million for the fourth quarter last year. Net income for the twelve months...
Liberty Mutual Group Sees Net Income Rise
Mar 2 2005 // Liberty Mutual Group reported net income of $565 million and $1.245 billion for the three and 12 months ended Dec. 31, 2004, respectively, representing a $130 million and $394 million increase over the same periods in...
N.Y. Bill Seeks Fiduciary Duty on Producers, Permits Profit Sharing with Disclosure
Mar 2 2005 // Assemblyman Ryan Scott Karben (D/I-Rockland), a majority member of the New York State Assembly’s Insurance Committee, has introduced a legislative package on agent and broker compensation that would require...
MMC Downsizing Plan Includes Dropping ‘Unprofitable’ Marsh Accounts But Not Selling Putnam or Mercer
Mar 2 2005 // Giant insurance broker Marsh, battered by regulators, soft market prices and competitors in 2004, plans on dropping thousands of unprofitable U.S. middle and small market accounts as it implements its new business model...
The McIntyre Group Reports Record 2004 Results; Regional Brokerage Doubles Revenue from 2003
Mar 1 2005 // Tony McIntyre, CEO and president of New Jersey-based The McIntyre Group, announced his firm’s strong performance for the fiscal year ending, Dec. 31, 2004. McIntyre stated that the insurance brokerage, had...
ProCentury Sees $13.7 Million Profit in 2004
Mar 1 2005 // Columbus, Ohio-based specialty property/casualty insurance holding company ProCentury Corp. reported income from continuing operations of $13.7 million for 2004, or $1.29 per diluted share. The company also reported a...
Weiss: Insurers Earn $28B in First Three Quarters of 2004
Feb 28 2005 // Despite a hurricane-ravaged third quarter, property/casualty insurers reported profits of $28.1 billion in the first nine months of 2004, representing a 22.4 percent increase over the $22.9 billion earned during the same...
McIntyre Group Announces Record 2004 Results – Regional Brokerage Doubles Revenue from Previous Year
Feb 28 2005 // Cherry Hill, NJ – Tony McIntyre, CEO and President of The McIntyre Group released a statement today announcing his firm’s strong performance for the fiscal year ending, December 31, 2004. In a prepared text,...
Ohio Casualty Reports Q4 Profit Rise of 105%
Feb 25 2005 // Fairfield, Ohio-based insurer Ohio Casualty Corp. announced fourth-quarter net income of $56.9 million, or 82 cents per diluted share, versus $27.7 million, or 42 cents per diluted share. The company reported statutory...
Navigators Reports Record Q4, 2004 Earnings
Feb 25 2005 // The New York-based Navigators Group, Inc. reported net income of $10,635,000 or $0.84 per share for the 2004 fourth quarter compared to a net loss of $9,490,000 or $0.78 per share for the 2003 fourth quarter. Net income...
