Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
LOSSES FROM 4 FLA. HURRICANES WILL EXCEED ANDREW’S RECORD:
Oct 25 2004 // Insurance claim payments to victims of the four Florida hurricanes to date will exceed $22 billion, surpassing the insurance payout from Hurricane Andrew, the costliest natural disaster in history, according to the...
HURRICANE IVAN LOSSES IN ALABAMA $279M TO $325M:
Oct 25 2004 // Alabama-based The Alfa Insurance Group and Alfa Corporation have commented on the effects of Hurricane Ivan. “Hurricane Ivan had a significant impact on certain counties in Alabama and created a large number of...
TDI SEES IMPROVED LOSS RATIOS:
Oct 25 2004 // The Texas Department of Insurance reported that second quarter 2004 financial results submitted to TDI indicate a number of Texas homeowners insurance providers are improving their loss ratios—a result of efforts to...
Workers’ Comp Loss Prevention, Going Beyond the Safety Dance
Oct 25 2004 // You work hard, yet you’re frustrated. Why is your client still suffering from employee injury problems and escalating workers’ compensation insurance cost regardless of your efforts? So, is the solution to do...
SAFECO ESTIMATES 3Q CATASTROPHE LOSSES:
Oct 25 2004 // Seattle-based Safeco announced that its aggregate pretax catastrophe losses for the third quarter are estimated at $195 million. The estimated effect on third-quarter net income is $127 million after tax, or $0.96 per...
Professional Liability: Will the Cycle Remain Unbroken’
Oct 25 2004 // Some say it’s over—the hard market, that is. Certainly in some areas of professional liability this is true. Many renewal premiums in 2004 are flat, or are even dropping by 10 percent or more. Not withstanding the...
Take Two: Looking at the Med-Mal Crisis from Both Sides
Oct 25 2004 // 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 featured Paula Sweeney, partner with...
Torchmark 1st Q Income Up 10 Percent
Oct 21 2004 // Torchmark Corporation (NYSE: TMK) of Birmingham, Ala. reports that for the quarter ended September 30, 2004, net income was $1.12 per share ($124 million) compared with $.94 per share ($108 million) for the year-ago...
The Midland Co. Reports Q3 Profit
Oct 21 2004 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, reported results for the third quarter ended Sept. 30, 2004. Net income per share was 12 cents, which included 1 cent in...
AIG Unveils Q3 Numbers, Notes Storm Impact
Oct 21 2004 // American International Group Inc. (AIG) on Thursday reported third quarter 2004 net income of $2.51 billion or $0.95 per share, compared to $2.34 billion or $0.89 per share in the third quarter of 2003. Third quarter 2004...
Everest Re Q3 Operating Earnings Down 96.2%
Oct 19 2004 // Everest Re Group, Ltd. reported from its Barbados headquarters that its third quarter 2004 after-tax operating income (which excludes realized capital gains and losses) was $4.8 million, or $0.08 per diluted share, a 96.2...
St. Paul Travelers Estimates Approximately $93 Million in Jeanne Losses
Oct 19 2004 // St. Paul Travelers announced that it estimates losses from Hurricane Jeanne to be approximately $93 million, after tax and reinsurance. It apportioned the losses as follows: — Commercial, approximately $26...
Safeco Unveils Q3 Numbers, Notes Hurricane Impact
Oct 19 2004 // Seattle-based Safeco on Tuesday reported third-quarter results, reflecting strong fundamentals in a period with substantial hurricane losses and the loss on the sale of Life & Investments. The company posted a net...
Brown & Brown Reports Earnings Record
Oct 18 2004 // Florida-based Brown & Brown Inc. announced record quarterly earnings for the third quarter of 2004 of $30,086,000 compared with $26,051,000 in the third quarter of 2003, an increase of 15.5%. Net income per share rose...
A.M. Best Affirms FSR for Florida Farm Bureau Group
Oct 18 2004 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of the Florida Farm Bureau Group. The rating applies to Florida Farm Bureau Casualty Insurance Company and its fully reinsured subsidiary, Florida...
Unitrin Tabs Full Hurricane Losses at Less Than $15M
Oct 17 2004 // Chicago-based Unitrin, Inc. announced that it expects its net losses resulting from Hurricanes Charley, Frances, Ivan and Jeanne combined will be less than $15 million after-tax. Unitrin had previously disclosed that its...
S&P Lowers FSR for Fireman’s Fund, Some Subs
Oct 15 2004 // Standard & Poor’s Ratings Services has lowered its counterparty and financial strength ratings on Fireman’s Fund Insurance Co. (FFIC) and some of its rated subsidiaries and its financial strength ratings...
St. Paul Travelers Sees $94 Million in Ivan Losses
Oct 14 2004 // The St. Paul Travelers Cos. announced that it estimates losses from Hurricane Ivan to be about $94 million, after tax and reinsurance. The St. Paul, Minn., insurer said about $49 million of its losses came on its...
Survey Says Nearly 8 in 10 Calif. Homeowners in Fire Danger Areas Think Wildfire Losses ‘Unlikely’
Oct 14 2004 // Seventy-eight percent of California homeowners living in identified fire danger areas believe that it is “somewhat” or “very” unlikely their home will be damaged or destroyed by a wildfire,...
AIG Reports on Hurricane, Typhoon Losses; $500-$515 Million After Tax Net Losses Expected
Oct 14 2004 // American International Group Inc. (AIG) has issued an estimate of its total expected losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, and Typhoons number 16 (Chaba), 18 (Songda) and 21 (Meari) in Japan. AIG...
