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