Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
INSURERS WELL-POSITIONED TO SHOULDER HURRICANE LOSSES:
Dec 20 2004 // Even with the nearly $21 billion of hurricane-related losses expected to be reflected in the third- and fourth-quarter results, the nation’s property/casualty insurers are well-capitalized and safely positioned to...
P/C INSURERS POSITIONED TO WEATHER HURRICANE LOSSES:
Dec 20 2004 // Even with the nearly $21 billion of hurricane-related losses expected to be reflected in the third and fourth quarter results, the nation’s property/casualty insurers are well-capitalized and safely positioned to...
Is It Time to Sell the Agency’
Dec 16 2004 // The following article was published in Insurance Journal magazine on 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...
ELAN Files Calif. Public Records Act Request with Commissioner to Release $4B in Policyholder Losses
Dec 16 2004 // The Executive Life Action Network (ELAN), an activist group of former Executive Life Insurance Co. policyholders, has filed a California Public Records Act (CPRA) request with Insurance Commissioner John Garamendi urging...
Competition and Investigations Are Squeezing U.S. Commercial Lines’ Earnings, Report Says
Dec 7 2004 // U.S. insurers will see their 2004 earnings from commercial lines fall as rate increases peak and legal investigations intensify, according to a report published by Standard & Poor’s. The report, titled...
P/C Insurers Positioned to Weather Hurricane Losses
Dec 7 2004 //
Ill Winds Blow but the Ship Remains on Course
Dec 6 2004 // This year’s annual report on the reinsurance industry is a bit later than usual. It seems that beginning in August the voyage was interrupted by some serious storms, and it was hard to catch up to the boat as it...
Carrier Solvency, Not Aggregate Industry Reserves, Should be Focus
Dec 6 2004 // Placing Industry Loss and Loss Adjustment Expense Reserving into Perspective In an April 2004 edition of Insurance Journal, Mark Wells, publisher, utilized the ‘On the Street’ column to frame the issues related...
A.M. Best Finds Improved Earnings Boost P/C Industry’s Surplus Position
Dec 6 2004 // The capital surplus for U.S. property casualty insurers increased by 21.8 percent in 2003, fueled by “vastly improved operating earnings” and a big boost in unrealized capital gains, according to A. M. Best...
What is Your Agency Worth’ Productivity and Revenue Determine Value
Dec 6 2004 // Over the years, I have found that many agency owners peg their agency value to traditional benchmarks and current market values. At one time, the industry benchmark for an average agency was one and a half times annual...
CNA SURETY POSTS $11 MILLION Q3 PROFIT:
Dec 6 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,...
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...
