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