Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
CNA Posts $28 Million Loss in Third Quarter
Nov 15 2004 // Chicago-based commercial insurer CNA‘s woes continue as the company announced a net loss of $28 million for the third quarter, thanks in part to $174 million in losses due to the quadruple kick to the pants delivered...
APCapital Reports $4.5 Million Q3 Profit
Nov 15 2004 // After a very rough 2003, East Lansing, Mich.-based medical liability insurer American Physicians Capital Inc. seems to have righted the ship and is finally showing a profit, albeit small. The company reported net income of...
Nationwide Estimates Florida Hurricane Losses at $850 Million Pre-Tax
Nov 15 2004 // Ohio-based Nationwide Mutual Insurance Company and its P/C affiliates have issued an estimate of the losses and loss adjustment expenses from Hurricanes Charley, Frances, Ivan, and Jeanne of approximately $850 million on a...
ACE Ltd. Receives Subpoenas in Connection with Investigations for Loss Mitigation Products
Nov 15 2004 // ACE Limited (NYSE:ACE) on Monday reported that it had received subpoenas from the Securities and Exchange Commission and the New York Attorney General requesting documents in connection with an investigation into...
Hannover Re Hit by Q3 Cat Losses; 9-month Operating Profit Down 18.1 % to $527 Million
Nov 12 2004 // Germany’s Hannover Re – ranked by Standard & Poor’s as the world’s fifth largest reinsurer – announced third quarter earnings that were heavily impacted by the Florida hurricanes and...
GAINSCO Unveils Q3 Report
Nov 12 2004 // Texas-based GAINSCO INC. has reported net income for the third quarter 2004 of approximately $1.6 million. After the accretion of the discount on the Redeemable Preferred Stock of approximately $0.9 million and the accrual...
Fitch Comments on Fairfax’s Rating Watch
Nov 11 2004 // Fitch Ratings commented that Fairfax Financial Holdings Limited’s ratings and Rating Watch Negative status are unaffected by its recent disclosures via its third-quarter 2004 financial filings and investor conference...
AXA Posts $70 Billion Consolidated Revenues for 1st Nine Months of 2004
Nov 11 2004 // France’s AXA announced that its consolidated revenues for the first nine months of 2004 rose 1.1 percent on a comparable basis to 54.4 billion euros ($70.3 billion). Highlights of the report are summarized as...
21st Century Holding Co. Unveils Q3 Report
Nov 11 2004 // Florida-based 21st Century Holding Co. reported results for the quarter ended Sept. 30, 2004. For the quarter ended Sept. 30, 2004, the company reported net loss of $13,754,082, or $2.32 per share on 5,925,952 undiluted...
Litigation Verdict Delays Vesta Insurance Earnings Info
Nov 10 2004 // Vesta Insurance Group, Inc. (NYSE:VTA) announced it is delaying its earnings release and previously scheduled conference call until Nov. 16. The Birmingham, Ala.-based company will file a SEC Form 12b-25 to delay the...
Munich Re Posts $472 Million Q3 Profit, $1.94 Billion for Nine Months; Affirms Full Year Estimate (Almost)
Nov 9 2004 // Despite an estimated 550 million euros ($711 million) in hurricane related claims, Munich Re, the world’s largest reinsurer, seems to have weathered the storm(s). The company announced third quarter profits of 365...
Platinum Posts $69.8 Million Q3 Loss
Nov 9 2004 // Platinum Underwriters Holdings, Ltd. became another casualty of the Florida hurricanes. The Bermuda-based insurer posted a net loss for the period of $69.8 million, or $1.62 per common share, as its GAAP combined ratio...
Marsh to Lay Off 3,000 in Cost-Cutting Move
Nov 9 2004 // Marsh & McLennan Companies Inc. (MMC) today revealed it would lay off about 3,000 employees to reduce annual expenses by $400 million. About three-quarters of the layoffs will occur in the insurance and risk...
ASCnet Conferees Hear How to Manage a Profitable Business
Nov 8 2004 // The latest technologies to allow independent agents and brokers to efficiently manage and ensure a profitable business were presented to more than 1,800 conferees attending the Applied Systems Client Network’s...
Looking at the Med-Mal Crisis from Both Sides
Nov 8 2004 // Insurance Journal National Editor Andrea Ortega-Wells recently moderated a “Take Two” debate discussing the hot topic of medical malpractice, and what, if any, reforms are needed. The debate features Paula...
ASCnet Conferees Hear How to Manage a Profitable Business
Nov 8 2004 // The latest technologies that allow independent agents and brokers to efficiently manage and ensure a profitable business were presented to more than 1,800 conferees attending the Annual Technology, Education and Networking...
SCOR Reports $70 Million Nine-Month Earnings
Nov 5 2004 // French reinsurer SCOR Group recently approved the company’s financial results for the nine months ended Sep. 30, 2004. SCOR has been through some rough times, but the results, which included 54.3 million euro ($70...
PXRE Q3 Net Loss $73.2 Million; Will Hold $100 Million Public Offering
Nov 5 2004 // The Bermuda-based PXRE Group announced third quarter results, which were impacted by the Florida hurricanes. The net loss for the period was $73.2 million compared to net income of $23.7 million in the third quarter of...
Affirmative Sees Strong Revenue Growth in Q3
Nov 5 2004 // Affirmative Insurance Holdings Inc., an Addison, Texas-based provider of personal non-standard automobile insurance, reported that the third quarter ending Sept. 30, 2004, was a good one for the...
Hurricanes Drive $12.6 Million Q3 Loss at Horace Mann
Nov 4 2004 // The four hurricanes that ravaged the Southeast resulted in a net $12.6 million third-quarter loss for Springfield, Ill.-based insurer Horace Mann Educators Corp. The company has made a profit of $28 million, or 65 cents...
