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