Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
ACE Q4 Earnings Hit by $302 Million Reserve Charge; Full Year Net Down 20%
Feb 3 2005 // Bermuda’s ACE Limited confirmed earlier earnings announcements when it posted net income for the fourth quarter ended Dec. 31, 2004 of $282 million or 94 cents per common share after payment of preferred dividends,...
Schinnerer’s Not-for-Profit D&O Program Adds Stand-Alone Fiduciary Coverage
Feb 3 2005 // Victor O. Schinnerer & Company’s Not-for-Profit D&O Program has added another coverage line to its portfolio: stand-alone fiduciary coverage. The policy offers fiduciary liability coverage for any employee...
Quotesmith.com Narrows Q4 Loss to $116,000
Feb 2 2005 // Darien, Ill.-based direct life Internet broker Quotesmith.com saw its fourth-quarter revenues double last year’s results but it still reported a $116,000 loss for the period. Revenues were up to $4.4 million from...
Chubb Reports Year-End, 4Q Results Up; Premium Volume Grows 5% for 2004
Feb 2 2005 // The Chubb Corporation reported that its net income in the fourth quarter 2004 jumped to $467.6 million compared to $72.3 million in the fourth quarter 2003. Property/casualty net premiums written in the fourth quarter of...
Everest Re Posts $94.7 Million Q4 Operating Income; $425.3 Million Full Year
Feb 1 2005 // The Bermuda-based Everest Re Group, Ltd. reported fourth quarter 2004 after-tax operating income – which excludes realized capital gains and losses – of $94.7 million, or $1.66 per diluted share, a 20.2 percent...
IPC Holdings Estimates $60 Million Q4 Cat Loss Impact
Feb 1 2005 // Bermuda-based IPC Holdings, Ltd. announced that its fourth quarter, 2004 results will be adversely impacted by catastrophe losses, arising primarily from revised estimates with respect to the third quarter Florida...
Zenith Announces Fourth Quarter Results
Feb 1 2005 // Woodland Hills, Calif.-based Zenith National Insurance Corp. reported net income of $43.7 million, or $1.83 per share, for the fourth quarter of 2004 compared to net income of $20.8 million, or $0.92 per share, for the...
Sierra Reports Year-End, 4Q 2004 Results
Jan 31 2005 // Nevada-based Sierra Health Services Inc. reported that income from continuing operations for the quarter ended Dec. 31, 2004 was $27.9 million, or $0.83 per diluted share, compared to income from continuing operations of...
Tsunami Losses Less Than $4B Reports RMS
Jan 31 2005 // Risk Management Solutions (RMS) has announced estimates that insured losses from the 2004 Southeast Asia earthquake and tsunami will be less than $4 billion, based on the information available within the first three weeks...
AXA Notes 1% Gain in Full Year Revenues
Jan 28 2005 // France’s AXA Group reported from Paris that its consolidated revenues were 72.2 billion euros ($94.4 billion) for full year 2004. “On a comparable basis, revenues grew by 2 percent compared to full year...
The Hartford Sees 37% Gain in Q4 Net Income to $620M
Jan 28 2005 // The Hartford Financial Services Group Inc. reported a 37-percent increase in fourth quarter 2004 net income to $620 million, or $2.08 per diluted share, hitting an all-time quarterly record. Net income in the current...
Best Comments on Munich Re’s Revised Earnings
Jan 26 2005 // A.M. Best Co. has commented that the financial strength rating of A+ (Superior) (with a stable outlook) and the issuer credit rating of “aa” (with a negative outlook) of Muenchener Rueckversicherungs (Munich...
Everest Re Lowers Q4 Earnings Estimate
Jan 25 2005 // The Bermuda-based Everest Re Group has issued a bulletin indicating that it now expects fourth quarter 2004 net income and after-tax operating earnings of approximately $1.65 per diluted share. The company had earlier...
Arthur J. Gallagher Blames Softening Rates, Spitzer for Q4 Profit Decline
Jan 25 2005 // Itasca, Ill.-based brokerage Arthur J. Gallagher & Co. reported fourth-quarter net income of $49.1 million, down from $49.2 million a year ago, though revenue was up 6 percent to $386.9 million. The results fell short...
Is it Time to Sell the Agency’ Three Factors to Help You Decide …
Jan 24 2005 // Many owners have at one time or another thought about selling their insurance agency or brokerage. Many were tempted but never quite took the plunge. Those who didn’t sell most likely were making too much money at...
Munich Re 2004 Profit Forecast $2.22- $2.48 Billion Despite HVB Writedowns
Jan 24 2005 // In a brief announcement the Munich Re Group said its consolidated profit for the year 2004 would be between 1.7 and 1.9 billion euros ($2.22-$2.48 billion) despite special writedowns by the HVB Group. “The HVB Group...
Back to the Basics
Jan 24 2005 // E&S Industry Returns to Familiar Ground Neither wind, nor rain nor the dark cloud of standard carriers returning to the marketplace will keep excess and surplus insurance writers from maintaining profitability. From...
S&P Sees No Rating Change for Alea after Lower Earnings Forecast
Jan 20 2005 // Standard & Poor’s Ratings Services has issued a bulletin indicating that its ratings and outlook on the operating subsidiaries that comprise the Alea group – currently rated “A-” with a stable...
XL Capital Notes Estimate of Revised Losses from Tsunami, 2004 Hurricanes
Jan 20 2005 // Bermuda-based XL Capital Ltd. announced that, based on initial loss reports and preliminary estimates, it expects pre-tax net losses arising from the tsunami that struck South Asia on Dec. 26, 2004, of approximately $75...
Fla. Hurricane Property Losses Now Top $21.6 Billion
Jan 19 2005 // Total property losses from the four major hurricanes that struck Florida in 2004 now top $21.6 billion according to data presented to members of a Select Joint Committee on Hurricane Insurance. The latest estimate,...
