Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Fitch Affirms Safeco P/C Group Ratings; Outlook Stable
Nov 4 2004 // Fitch Ratings has affirmed the ‘AA-‘ insurer financial strength rating on the Safeco property/casualty group (Safeco P/C). In addition, Fitch has affirmed ‘A-‘ long-term and senior debt ratings on...
Insurer Reports $1,800 Loss from Enraged Sheep Attack
Nov 3 2004 // A report from Scotland relates the tale of a usually mild-mannered sheep, who, upon viewing his reflection in a car door, became enraged and attacked the vehicle, causing £1000 ($1,820) in damages. The details of the...
Allied World Posts $64.7 Million Q3 Loss
Nov 3 2004 // Bermuda’s Allied World Assurance Holdings, Ltd reported a net loss of $64.7 million for the third quarter 2004, compared to net income of $71.6 million for the third quarter last year. Allied World, one of the new...
Aspen Reports $43 Million Q3 Loss; $122.9 Million Net Income for Nine Months
Nov 3 2004 // Aspen Insurance Holdings Limited became the latest Bermuda-based insurer to report negative earnings in the third quarter when it announced a net loss of $43 million, or 62 cents per diluted share, for the three months...
Ohio Casualty Corp. Sees 14.0 Percent Jump in Net Income for Q3 2004
Nov 3 2004 // Ohio Casualty Corp. (Nasdaq:OCAS) announced the following results for its third quarter ended Sept. 30, 2004, compared with the same period of the prior year: — Net income of $19.6 million, or $0.31 per diluted...
XL Hit By Hurricanes; Posts $22.5 Million Q3 Net
Nov 2 2004 // Bermuda-based XL Capital Ltd reported net income available to ordinary shareholders for the quarter ended Sept. 30, 2004, of $22.5 million, or 16 cents per ordinary share, compared with $99.0 million, or 71 cents per...
Max Re Reports $ 9 Million Q3 Loss
Nov 1 2004 // Bermuda-based Max Re Capital Ltd. reported a net loss for the three months ended September 30, 2004 of $9.0 million, or 20 cents per diluted share, compared to net income of $38.8 million, or net income of 89 cents per...
Mercury General Reports Q3 Numbers
Nov 1 2004 // California-based Mercury General Corp. has reported net income of $65.1 million, or $1.19 per share (diluted), in the third quarter 2004 compared with $49.6 million, or $0.91 per share (diluted), in the same period for...
IPC Holdings Reports $17.8 Million Q3 Net Loss
Oct 29 2004 // Bermuda-based IPC Holdings, Ltd. reported a net loss for the quarter ended September 30, 2004, of $17.8 million, or 37 cents per share, compared to net income of $62.1 million, or $1.29 per share, for the third quarter of...
Arch Capital Q3 Results: $18 Million Net Income; $9.1 Million Operating
Oct 29 2004 // Bermuda-based Arch Capital Group Ltd. reported third quarter net income of $18.0 million, or 25 cents per share, compared to $82.6 million, or $1.22 per share, for the comparable period in 2003. For the 9 months ended...
Hurricanes Hit Argonaut Group’s Bottom Line
Oct 29 2004 // San Antonio, Texas-based Argonaut Group Inc. reported third quarter net income dropped by 62 percent, largely as a result of the four hurricanes that hit Florida in late summer. Gross written premiums for third quarter...
RenRe Reports Q3 Operating Loss of $372 Million; Increases Hurricane Loss Estimates
Oct 28 2004 // Bermuda’s RenaissanceRe Holdings Ltd. reported a net operating loss attributable to common shareholders of $372 million for the third quarter of 2004, versus net operating income available to common shareholders of...
