Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allianz 2004 Profits up 16.4% to $2.93 Billion
Mar 18 2005 // Germany’s Allianz reported net 2004 profits of 2.2 billion euros ($2.93 billion), despite last year’s spate of natural catastrophes and continued problems at its Dresdner Bank subsidiary. The group’s net...
Swiss Re Profits up 45% to $2.167 Billion
Mar 17 2005 // Swiss Re joined Munich Re in reporting strong 2004 results. The group reported net profits of CHF 2.5 billion ($2.167 billion) compared to CHF 1.7 billion ($1.474 billion) in 2003, a 45 percent gain, despite 2004’s...
Munich Re Posts $2.44 Billion 2004 Group Net Profit
Mar 16 2005 // Germany’s Munich Re Group celebrated its 125th anniversary year in style, recovering from a 434 million euro ($578 million) loss in 2003 to post 2004 net profits of 1.833 billion euros ($2.44 billion) despite a...
Safety Insurance Net Income Jumped in 2004
Mar 16 2005 // Safety Insurance Group, Inc. reported that net income for the 2004 was $45.0 million, or $2.90 per diluted share, compared to $28.5 million, or $1.86 per diluted share, for 2003. Safety’s book value per share...
Eureko Posts Record 2004 Profits; CEO to Step Down
Mar 15 2005 // The Netherlands-based Eureko group announced record profits for 2004. Consolidated net income, which includes capital gains, rose to 1.153 billion euros ($1.54 billion), while net income excluding capital gains doubled to...
Quanta Posts $14.4 Million Q4 Loss; $54.6 Million Full Year Net Loss
Mar 15 2005 // Bermuda’s Quanta Capital Holdings Ltd. reported that its net loss for the fourth quarter of 2004 was $14.4 million, or $0.25 per diluted share. This compares to a net loss of $37.4 million, or $0.66 per diluted...
Computer Models Reassess Fla. Hurricane Risk Following Busy 2004 Season
Mar 14 2005 // New computer models show higher chances of hurricane strikes to Florida, and a 3.9 percent increase in predicted losses. In parts of the state, particularly Escambia County, the program boosts predicted losses as much as...
Hurricanes Lower Hiscox 2004 Profits to $148 Million
Mar 14 2005 // U.K. insurer Hiscox plc reported a drop in profits for 2004 of around 8 percent, posting a net figure of £77 million ($148.1 million), compared to £83.4 million ($160.5 million) in 2003, as losses from the Florida...
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...
