Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Storm Losses Lead Florida Regulators to Take Over American Superior
Oct 11 2004 // State regulators have placed American Superior Insurance Co. into receivership because it was overwhelmed by homeowners claims. The small company, with offices in Plantation, Fla., has about 60,000 policyholders. The state...
Amlin Estimates Net Losses from Hurricanes and Typhoons at $133 Million
Oct 10 2004 // Amlin, a leading Lloyd’s insurer, has released its estimates for losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, together with Typhoon Songda, indicating that gross claims are around $263 million...
EMC Reports Q3 Estimated Losses from Jeanne
Oct 8 2004 // Iowa-based EMC Insurance Group Inc. has reported that the company’s reinsurance segment anticipates that losses associated with Hurricane Jeanne, which hit the State of Florida on Sept. 25, will be capped at $1.5...
Everest Re Holdings Estimates Hurricane, Typhoon Losses at Around $120 Million
Oct 7 2004 // Everest Reinsurance Holdings, Inc., a wholly owned subsidiary of Bermuda’s Everest Re Group, Ltd. announced that its share of the aggregate estimated losses previously announced by the Group from the Florida...
St. Paul Travelers Ivan Losses Around $94 Million
Oct 7 2004 // St. Paul Travelers announced that it estimates losses from Hurricane Ivan to be approximately $94 million, after tax and reinsurance. It said the losses were attributable to its business segments as follows: —...
The Midland Co. Projects Q3 Profit Despite Hurricanes
Oct 7 2004 // The Midland Company, a Cincinnati-based provider of specialty insurance products and services, has projected a third quarter profit, despite volatile weather conditions during the quarter. “We are anticipating...
Vesta Offers Preliminary Hurricane Loss Estimates
Oct 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its gross loss, before reinsurance, from Hurricane Ivan is expected to be in the range of approximately $7.0 to $12.0 million and approximately $23.0 to $37.0 million...
Alfa Corp. Reports on Ivan Losses
Oct 7 2004 // Alabama-based The Alfa Insurance Group and Alfa Corporation have commented on the effects of Hurricane Ivan. Alfa’s Chairman, President and CEO, Jerry Newby, noted, “Hurricane Ivan had a significant impact on...
Wellington Puts Hurricane Losses at $27 Million
Oct 6 2004 // U.K. Lloyd’s insurer Wellington Underwriting plc announced that the net impact on the Group’s profit before tax for 2004 from the recent hurricanes would be approximately £15 million ($27 million). Wellington...
PXRE Estimates Hurricane Losses at $80-$105 Million
Oct 6 2004 // PXRE Group Ltd. announced from Bermuda that it estimates it will incur claims from Hurricanes Charley, Frances, Ivan and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, of $80 to $105 million....
P/C Insurers’ Loss Reserves “Remain Deficient” Says Best Report
Oct 6 2004 // A special report from A.M. Best Co. confirms that “a key driving factor of property/casualty rating downgrades over the past several years has been the impact of significant adverse loss and loss-adjustment expense...
Max Re Estimates Hurricanes’ Impact on Q3 Earnings at $20 to $25 Million
Oct 5 2004 // Bermuda’s Max Re Capital Ltd. announced that preliminary estimates indicate that the Company’s 2004 third quarter earnings will be negatively impacted by $20 to $25 million as a result of Hurricanes Charley,...
Endurance Estimates Hurricane Claims at $115 Million
Oct 5 2004 // Bermuda-based Endurance Specialty Holdings Ltd. reported that estimated aggregate potential claims from hurricanes Charley, Frances, Ivan, and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, is...
Berkley Updates Q3 Hurricane Loss Estimates to $20 Million, Including Jeanne
Oct 5 2004 // W. R. Berkley Corporation announced that has updated its estimate of hurricane losses in the third quarter to now include those from Hurricane Jeanne as well as Hurricanes Charley, Frances and Ivan. Berkley’s...
S&P Affirms Zenith National Ratings
Oct 5 2004 // Standard & Poor’s Ratings Services has affirmed its ratings on Zenith National Insurance Corp. (Zenith; see ratings list) and its operating subsidiaries. At the same time, Standard & Poor’s revised...
Markel Estimates $80 Million in Hurricane Losses
Oct 4 2004 // Richmond, Va.-based Markel Corporation announced that on the basis of currently available information its estimated pre-tax net losses, including reinstatement premiums, from Hurricanes Charley, Frances, Ivan and Jeanne...
Everest Re Estimates Around $190 Million Exposure to Hurricane, Typhoon Losses
Oct 4 2004 // Barbados-based Everest Re Group, Ltd. announced that, based on its initial assessment of potential exposures, it expects aggregate losses from Hurricanes Charley, Frances, Ivan and Jeanne, and the quarter’s Pacific...
Converium Estimates Jeanne Losses at $12-$20 Million
Oct 4 2004 // Swiss-based Converium announced that its estimated gross losses, According to its latest modeling and first validations by its underwriters, from Hurricane Jeanne will be in the range of $12 to $20 million. For typhoons...
Brit, Beazely and Kiln Estimate Storm Losses
Oct 4 2004 // Three leading Lloyd’s Market insurers, Brit Insurance Holdings PLC, Beazley Group PLC and Kiln PLC, have announced preliminary estimates of their losses from the recent hurricanes, which struck Florida and a number...
Midwest Insurers Issue $90 Million More in Hurricane Loss Estimates
Oct 4 2004 // Another group of Midwest-based insurers have issued loss estimates totaling $90 million related to the recent hurricane season. St. Paul Travelers Cos. estimated its losses from Hurricane Frances at about $75 million,...
