Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Is it Time to Sell the Agency’ Three Factors to Help You Decide ….
Dec 6 2004 // 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...
Losses, Liabilities & Leftovers
Dec 6 2004 // A former Washington State prosecutor has been arrested for investigation of attempted murder after he reportedly shot and critically injured a lawyer that he was going to face-off against in a court hearing. The alleged...
CHA…CHING!!
Dec 6 2004 // Insurance revenue reported to the Federal Reserve by the nation’s bank holding companies grew by $5.0 billion in the first half of 2004 to a level of $20.9 billion, 23 percent higher than at this same time last year,...
PAULA FINANCIAL REPORTS NET INCOME FOR 3Q 2004:
Dec 6 2004 // Pasadena, Calif.-based PAULA Financial reported net income for the first nine months of 2004 of $915,000 or $0.14 per share compared to $885,000 or $0.14 per share for the 2003 period. Total revenue for the first nine...
That’s Entertainment Disability Insurance
Dec 6 2004 // Twenty years ago, no one envisioned top entertainers earning $20 million for a single film, or for 90 days of work. Unusual work schedule aside, the dollars involved in protecting these individuals creates a unique...
VESTA POSTS THIRD-QUARTER $54M LOSSES:
Dec 6 2004 // Vesta Insurance Group, Inc. (NYSE:VTA) announced its third-quarter earnings indicate operating losses for the third quarter of $53.8 million. The release of information about its earnings were delayed after what the...
Swiss Re Insurance Review Sees Continued Profits; Slower Premium Growth
Dec 2 2004 // Swiss Re held its annual review and outlook on insurance markets in London yesterday, Dec.1. Looking to the future, the company predicted that the life and non-life industry’s 2004 return to profitability would...
S&P Reports First Half Results in Japan’s P/C Sector Show Companies Still Under Pressure
Nov 30 2004 // Standard & Poor’s Ratings Services has issued a report noting that Japanese non-life insurance companies recently released results of for the first half of fiscal 2004, which indicate that underwriting...
Fortis Posts 79% Increase in Nine Month Net Op. Profits; Raises Full-Year Forecast
Nov 29 2004 // Jean-Paul Votron, who became the new CEO of Belgian-Dutch financial giant Fortis at the beginning of October, has inherited a very successful company from his predecessor Anton van Rossum. Fortis posted a 79 percent...
JLT Warns on Profits; CEO McGill Resigns
Nov 29 2004 // London-based broker, Jardine Lloyd Thompson Group plc, announced that it expects pre-tax profits and “exceptional items” for 2004 to be around £92 million ($175 million); or £100 million ($189.5 million)...
Chrysler Sues Allianz for Blackout Losses
Nov 24 2004 // DaimlerChrysler AG’s Chrysler Group has sued insurers for refusing to cover losses the company sustained during the 2003 blackout. The outage—the worst in U.S. history—left millions of Michigan residents without...
N.Y. Superintendent Calls for Auto Rate Reassessment as Fraud-Fighting Successes Drop Insurers’ Losses
Nov 23 2004 // New York Superintendent of Insurance Gregory Serio on Tuesday announced the commencement of an immediate and broad-based review of auto insurance rates for private passenger vehicles in New York State. Insurance companies...
Loss Ratios Improve in 45 States Nationwide
Nov 22 2004 // The commercial auto market went through some tough times. After years of deteriorating loss ratios, things have definitely turned around. What does this mean for the marketplace? In some cases, prices have started to...
Best: No Ratings Changes from Finite Reinsurance Probe
Nov 19 2004 // A.M. Best Co. has released a statement indicating that it “does not anticipate the re-evaluation of ratings as a result of the increased scrutiny of finite reinsurance transactions by regulators and other interested...
GE Insurance Solutions Details Additions to Global Management Staff
Nov 18 2004 // GE Insurance Solutions has announced the addition of expertise to its Property Insurance & Services, Global Asset Protection business unit. Field Operations Leader Tim Heinze said the unit has had a “great...
PAULA Financial Reports Net Income for 3Q 2004
Nov 18 2004 // Pasadena, Calif.-based PAULA Financial reported net income for the first nine months of 2004 of $915,000 or $0.14 per share compared to $885,000 or $0.14 per share for the 2003 period. Total revenue for the first nine...
CNA Surety Posts $11 Million Q3 Profit
Nov 17 2004 // Chicago-based CNA Surety Corp. reported net income for the third quarter of 2004 of $11 million, or 26 cents per share, compared to a net loss of $47.4 million, or $1.10 per share, for the same period in 2003. The company,...
St. Paul Travelers Acknowledges Receipt of Subpoena on Loss Mitigation Insurance Products
Nov 17 2004 // The St. Paul Travelers Companies, Inc. has issued the following bulletin: “In connection with a widely reported, industry-wide investigation, St. Paul Travelers has received a subpoena from the Office of the Attorney...
Zurich Posts 35% Increase in Nine Month Net Income
Nov 17 2004 // Zurich Financial Services reported a 35 percent increase in its net income for the first nine months of 2004 to $1.902 billion, compared to $1.41 billion in the same period of 2003, despite the impact of the Florida...
Meadowbrook Doubles Q3 Profit From Year Ago
Nov 16 2004 // Southfield, Mich.-based specialty carrier Meadowbrook Insurance Group reported net third-quarter income of $5.3 million, or 18 cents per diluted share, compared to net income of $2.5 million, or 9 cents per diluted share,...
