Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Aspen Puts Charley Losses between $35-50 Million
Aug 25 2004 // Aspen Insurance Holdings Limited announced that its loss estimates resulting from Hurricane Charley are in the range of $35 to $50 million after reinsurance and tax. CEO Chris O’Kane commented: “We have...
Safeco Estimates Losses From Hurricane Charley
Aug 25 2004 // Seattle-based Safeco announced that claims stemming from Hurricane Charley are estimated at $45 million in pretax catastrophe losses. This figure represents the estimated losses both from claims received through Aug. 24,...
Fairfax Puts Charley Losses at $40 Million
Aug 24 2004 // Canada’s Fairfax Financial Holdings Limited announced that its initial estimate of aggregate potential net losses relating to Hurricane Charley will be “in the range of US $35 million to US $40 million after...
White Mountains, Montpelier Re Hurricane Charley Loss Estimates May Top $100 Million
Aug 24 2004 // In separate announcements Bermuda’s White Mountains Insurance Group, Ltd. and its insurance operation, Montpelier Re Holdings Ltd., released estimates of losses the companies may suffer as a result of claims from...
Ohio Casualty Corp. Announces Loss Estimates from Hurricane Charley
Aug 24 2004 // Ohio Casualty Corporation announced that it expects net catastrophe losses in the range of $6 to $8 million before-tax from Hurricane Charley. The catastrophe loss impact for Hurricane Charley is expected to add...
Right This Way! Hotels Make Room for Risk Management
Aug 23 2004 // In the months after the Sept. 11 terrorist attacks, the U.S. hospitality industry took a one-two punch. Travel and tourism plummeted as worried Americans canceled vacation plans and cautious businesses cut back on trips....
PartnerRe, Converium, Transatlantic and SCOR Give Preliminary Loss Estimates from Hurricane Charley
Aug 20 2004 // Bermuda-based PartnerRe Ltd. estimated that claims relating to its exposure to Hurricane Charley are expected to be between $35 and $45 million. Transatlantic Holdings, Inc. announced from New York that its estimated net...
AIG Estimates Charley Losses at $80 to $100 Million
Aug 20 2004 // American International Group, Inc. has issued an initial estimate of its total expected losses from Hurricane Charley, indicating that the total after tax would be in a range of $80 to $100 million. “This total...
Panel Takes Fresh Look at Terrorism
Aug 20 2004 // In a code orange New York, the International Association of Industrial Accident Boards and Commissions (IAIABC) took a fresh look at terrorism and its relation to workers’ compensation at its recent 90th Annual...
Unitrin’s Q2 Profit Up Nearly $40 Million
Aug 18 2004 // Chicago-based property/casualty insurer Unitrin Inc. has reported second-quarter net income of $62.4 million (91 cents per common share), 57 percent higher than the $22.7 million (34 cents per common share) in profit the...
Cincinnati Financial’s Q2 Profit Up 84% From a Year Ago
Aug 17 2004 // Property/casualty insurer Cincinnati Financial Corp. reported second-quarter net income of $155 million, or 91 cents per diluted share, up 83.9 percent from $84 million, or 50 cents per share, from a year ago. Net income...
Allianz Posts Strong 1st Half Results
Aug 17 2004 // Germany’s Allianz Group reported a very strong first half for 2004 with total revenues of 49.5 billion euros ($61 billion). Net income was 1.289 billion euros ($1.59 billion), an increase of more than 1.1 billion...
Fitch Sees Improving Workers’ Comp Market, But Warns Earnings May Be at Cyclical Peak
Aug 17 2004 // Fitch Ratings has issued a brief comment noting that it expects the workers’ compensation insurance market to continue to improve in 2004. However, the new report warns that profitability may peak in 2004 as pricing...
RMS: $6 to $8 Billion Insured Losses from Charley
Aug 17 2004 // Catastrophe modeling firm Risk Management Solutions (RMS) has estimated insured losses from Hurricane Charley at $6 to $8 billion based on a detailed reconstruction of the storm’s windfield and damage pattern. RMS...
EMC’s Profit Up 70% From Last Q2
Aug 16 2004 // Des Moines, Iowa-based property/casualty insurer and reinsurer EMC Insurance Group Inc. reported second-quarter net income of $3.4 million, or 30 cents per share, compared to $1.4 million, or 12 cents per share, a year...
Meadowbrook’s Q2 Revenues Up Nearly 28%
Aug 16 2004 // Southfield, Mich.-based specialty property/casualty insurer Meadowbrook Insurance Group reported second-quarter net income of $2.8 million, or 10 cents per diluted share, compared to net income of $2.7 million, or 9 cents...
AGF Posts Record $660 Million 1st Half Net
Aug 16 2004 // AGF, the French subsidiary of Germany’s Allianz Group, announced record first half net income of 532 million euros ($660 million), and annualized return on equity of 16.3 percent. “The AGF Group is in line with...
RMS Revises Hurricane Charley’s Insured Loss Estimate to Around $5 Billion
Aug 16 2004 // It may be small comfort to the beleaguered Floridians who are trying to pick up their lives after Charley’s deadly passage Friday afternoon (See lead article), but the violent storm actually caused less damage than...
GAINSCO Reports Q2 Results
Aug 16 2004 // GAINSCO Inc., headquartered in Dallas, reported net income for the second quarter 2004 of approximately $1.0 million. After the accretion of the discount on the redeemable preferred stock of approximately $0.8 million and...
Charley Represents Material Loss, Fitch Says
Aug 16 2004 // According to Fitch Ratings, Hurricane Charley will represent only a material loss to the insurance industry because of the relatively wide range ($5 billion – $10 billion) of insurance loss estimates could be revised...
