Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Penn-America Group Notes Hurricane Losses
Sep 29 2004 // Pennsylvania-based Penn-America Group Inc. stated that based upon claims reported to date, it expects after-tax losses from Hurricanes Charley, Frances, Ivan and Jeanne, including additional reinsurance premiums, will be...
SCOR Estimates Q3 Hurricane Losses at $27.5 Million
Sep 29 2004 // France’s SCOR Group estimates that the total gross cost of the cost of the hurricanes in the United States and in the Caribbean, Charley, Frances and Ivan, to be 22.5 million euros million ($27.5 million). SCOR noted...
Jeanne Makes 2004 Costliest for U.S. Hurricane Losses
Sep 28 2004 // Hurricane Jeanne, the fourth major storm to hit Florida this year, has caused between $4 billion and $14 billion in insured losses in the state, meaning that 2004 may now be the insurance industry’s costliest year...
PartnerRe Estimates Q3 Hurricane Losses
Sep 28 2004 // Bermuda-based PartnerRe Ltd. said it estimates that claims relating to its exposure to Hurricane Ivan are expected to be between $35-$45 million, with the loss split equally between U.S. and Caribbean exposures. “The...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
21st Century Notes Losses from Jeanne
Sep 28 2004 // Edward (Ted) Lawson, president and chairman of the Board of Florida-based 21st Century Holding Company, offered comments about Federated National Insurance Company, a subsidiary of 21st Century, following Hurricane...
PCI, AIA Work with Safety Orgs. to Develop Exam for Loss Control Professionals
Sep 27 2004 // The Property Casualty Insurers Association of America and the American Insurance Association have worked been working together, along with professional safety organizations to “define and design a new test of skills...
RLI Sees $3 Million in Ivan Losses
Sep 27 2004 // Peoria, Ill.-based surplus line insurer RLI Corp. has reported a preliminary range of after-tax losses from Hurricane Ivan of $3 million to $3.5 million. This estimate is based on actual claim activity to date and...
RMS Estimates $4 to $8 Billion Insured Losses from Hurricane Jeanne
Sep 27 2004 // Risk Management Solutions (RMS) estimates insured losses from Hurricane Jeanne will be between $4 to $8 billion, based on an assessment of the hurricane’s characteristics at the time of landfall and its projected...
EMC Notes Q3 Estimated Hurricane Losses
Sep 27 2004 // Iowa-based EMC Insurance Group Inc. has reported that losses associated with three of the four hurricanes that hit the southern United States during the third quarter of 2004 are estimated to total approximately $6.9...
Ga. Commissioner Says Help Available for Storm-Damaged Areas; Insured Losses Estimated at $75 Million
Sep 24 2004 // Georgia Insurance and Safety Fire Commissioner John Oxendine has dispatched representatives from his Consumer Services Division to storm-damaged areas around the state to help victims of Hurricane Ivan with any insurance...
sEnergy Posts $11.9 Million Net Operating Income for FY 2004; Triplette Named Board Chairman
Sep 23 2004 // Bermuda-based sEnergy Insurance, Ltd., a member of the OIL Group of mutual insurers (see related article), announced that underwriting income was $38.4 million and net operating income was $11.9 million. for the Fiscal...
State Auto Expects at Least $32 Million in Hurricane Losses From Charley, Frances and Ivan
Sep 23 2004 // Columbus, Ohio-based regional property/casualty carrier State Auto Financial Corp. estimates that hurricanes Charley, Frances and Ivan, cumulatively, will contribute about $32 million to $36 million in pre-tax losses, or...
Alea Posts $61.4 Million 1st Half Operating Profit
Sep 22 2004 // Bermuda-based Alea Group Holdings Ltd. reported strong first half results for 2004 with the reinsurer’s operating profits up 74 percent to $61.4 Million. Other earnings highlights included: — Underwriting...
RMS Estimates Ivan Insured Losses at $3-$6 Billion
Sep 22 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, said that insured losses in the U.S. from Hurricane Ivan are expected to be between $3 and $6 billion. RMS’...
Fitch Reports on Alfa’s Exposure to Ivan
Sep 21 2004 // Following the devastation of Hurricane Ivan last week, which will produce large insured losses in Alabama and the Florida panhandle, Fitch has examined the potential impact of this event on Alfa Insurance Group (Alfa...
Best Reports P/C Insurers “Post Solid Results;” $9 Billion Profit for 1st Half of 2004
Sep 21 2004 // According to a new special report from A.M. Best Co., the U.S. P/C industry recorded an underwriting profit of nearly $9 billion during the first six months of 2004, a substantial gain from the comparable period of...
Endurance Estimates Frances’ Losses at $20 Million
Sep 21 2004 // Bermuda-based Endurance Specialty Holdings Ltd. reported that estimated potential claims from Hurricane Frances, after-taxes and net of reinsurance and reinstatement premiums, are expected to be $20 million or less. The...
ATLANTIC AMERICAN CORP. UNVEILS Q2 REPORT:
Sep 20 2004 // Atlanta-based Atlantic American Corp. announced net income of $1.1 million, or $0.04 per diluted share, for the second quarter ended June 30, 2004, compared to net income of $1.2 million, or $0.04 per diluted share, for...
Mass. Insurers’ Rate and Agents’ Commission Bids Add Up to 9.3%
Sep 20 2004 // A request by Massachusetts agents for a 32 percent boost in commissions brings the overall private passenger auto insurance rate hike sought by the industry for 2005 to 9.3 percent, up from the original 5.8 percent figure,...
