Latest Profit Loss Headlines

All the headlines from our Profit Loss Topic Page, ordered by recency.

QBE 2004 Operating Profit up 43% to $645 Million

Feb 25 2005 // Australia’s QBE Insurance Group announced a record operating profit after tax of A$820 million (U.S. $645 million) for the year ended Dec. 31, 2004, up 43 percent on the profit of A$572 million (U.S.$450 million)...

AXA Doubles Adjusted Earnings to $3.85 Billion

Feb 25 2005 // France’s AXA Group reported strong earnings results for 2004. Underlying earnings rose 34 percent to 2.7 billion euros ($3.58 billion) and adjusted earnings were 2.9 billion euros ($3.85 billion). “2004 has...

RenRe Gets Q4 Earnings Boost as 2004 Net Income Falls by $460 Million

Feb 24 2005 // RenaissanceRe Holdings Ltd., Bermuda’s premier property reinsurer, announced fourth quarter and full-year earnings that fully reflect both the strong market – net premiums written increased to $1.349 billion...

RenaissanceRe to Restate 2001-03 Earnings; Best, S&P Put Ratings Under Review

Feb 23 2005 // Bermuda-based RenaissanceRe Holdings Ltd. announced that it is planning to restate its financial statements for the years ended December 31, 2001, 2002 and 2003 “to correct accounting errors associated with...

Platinum Q4 Net $50 Million; $85 Million Full Year

Feb 23 2005 // Bermuda-based Platinum Underwriters Holdings, Ltd. reported net income for the fourth quarter of $49.922 million, slightly more than the $49.815 million it earned in the same period last year. Full year earnings, however,...

Hub Revenue Jumps, But Earnings Decline in 4Q, 2004

Feb 23 2005 // Chicago-based Hub International Limited posted a 64 percent decline in net earnings to $3.9 million from $10.7 million a year earlier, despite a 33 percent increase in revenue to $104.4 million from $78.7 million and a 1...

HRH Reports 4Q, Year-End Results

Feb 23 2005 // Hilb Rogal & Hobbs Company reported total revenues for the fourth quarter of 2004 were $159.9 million, compared with $142.7 million a year ago, representing a 12 percent increase. However, net income declined 21...

Bancinsurance Hires Merlinos & Associates to Analyze Ohio Indemnity Loss Reserves

Feb 22 2005 // Columbus, Ohio-based specialty insurer Bancinsurance Corp. announced that Merlinos & Associates Inc. has been engaged to provide actuarial consulting services to its subsidiary, Ohio Indemnity Co. Merlinos &...

CNA Posts Big Jump in Q4 Profit

Feb 22 2005 // Chicago-based commercial insurer CNA Financial Corp. reported net income for the fourth quarter of 2004 of $305 million as compared to $174 million for the same period in 2003. Income before net realized investment...

AGF Profits up 45% to $1.44 Billion

Feb 22 2005 // French insurer AGF, which is majority owned by Germany’s Allianz, posted a 45 percent increase in net profits for the year 2004 to $1.1 billion euros ($1.44 billion), compared to 763 million euros ($997 million) in...

Promina Group Posts 53.7 Percent Net Profit Increase to $360 Million; S&P Comments

Feb 22 2005 // The Promina Group, Australia and New Zealand’s second largest general insurer, posted a 53.7 percent increase in net profits for 2004 to A$458 million (U.S. $360 million), despite a decision to increase its reserves...

Donegal Group Reports ‘Solid’ 2004 Results

Feb 22 2005 // Pennsylvania-based Donegal Group Inc.reported that net income for year ended December 31, 2004 reached an historic high for the company. Net income for the year ended December 31, 2004 was $31,614,269, compared to...

The Facts About Credit Information and Insurance

Feb 21 2005 // The use of credit history, one of many underwriting tools, is not a new concept and one that has received strict scrutiny from insurance regulators and consumer advocates around the country. Some insurers have used...

U.S. P/C INSURERS CONTINUE TO BOOST LOSS RESERVES FOR OLD BUSINESS:

Feb 21 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...

INSURERS TO PAY $5.9M FOR LOST SOCAL AIRPORT REVENUE:

Feb 21 2005 // Officials with the city of Los Angeles announced that they reached a $5.9 million settlement with their insurers due to the Sept. 11, 2001 terrorist attacks, according to the Associated Press. The Federal Aviation...

The Facts About Credit Information and Insurance

Feb 21 2005 // The use of credit history, one of many underwriting tools, is not a new concept and one that has received strict scrutiny from insurance regulators and consumer advocates around the country. Some insurers have used...

S&P Report Says Hurricane Losses Puts Pressure on Insurers’ Equity

Feb 18 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...

Endurance Posts $113 Million Q4 Net Income; 37.6% Increase for Full Year to $356 Million

Feb 17 2005 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $113.1 million or $1.71 per diluted share for the fourth quarter of 2004 versus net income of $88.9 million or $1.31 per diluted share in the fourth...

Montpelier Re Reports $102.4 Million Q4 Net Income; $240.3 Million Full Year

Feb 17 2005 // Bermuda-based Montpelier Re Holdings Ltd. reported net income of $102.4 million, or $1.53 diluted earnings per share, for the three months ended December 31, 2004 and net income of $240.3 million, or $3.55 diluted earnings...

HCC Sees Increased Earnings for Q4, Full Year 2004

Feb 17 2005 // Houston-based HCC Insurance Holdings Inc. released results for the fourth quarter and full year ended Dec. 31, 2004, reporting increased earnings for both the quarter and the year. Net earnings for the fourth quarter 2004...