Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
RMS: Hurricane Charley Insured Losses Could Top $15 Billion as Storm Moves
Aug 13 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has updated its forecast and loss estimates (See National news) for Hurricane Charley to reflect changes in the...
PAULA Financial Reports Net Income for 2Q 2004
Aug 13 2004 // Pasadena-based PAULA Financial announced net income for the second quarter of 2004 of $215,000, a 90 percent increase over net income of $113,000 for the 2003 period. Net income for the six months ended June 30, 2004 also...
Hannover Re Posts Strong 1st Half Earnings
Aug 12 2004 // Germany’s Hannover Re posted strong first half results with operating profit (EBIT) up 31.6 percent to 375.4 million euros ($460 million), net income up 30.2 percent to 211.5 million euros ($260 million), and net...
Amarillo Storm Losses Total $175 Million
Aug 12 2004 // The storm that struck the western portion of Amarillo on June 21 caused $175 million in insured losses making it the sixth costliest wind and hailstorm in Texas history, according to the Insurance Council of...
RMS: Direct Charley Hit Losses Could Top $10 Billion
Aug 12 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, on Thursday warned that insured losses in the U.S. could exceed $10 billion if Hurricane Charley follows the...
Atlantic American Corp. Unveils Q2 Report
Aug 11 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...
Affirmative Insurance Holdings Pleased With Q2 Results
Aug 9 2004 // Addison, Texas-based Affirmative Insurance Holdings Inc., a provider of personal non-standard automobile insurance, reported that net income for the second quarter of 2004 increased 52.6 percent over the same period in...
Losses Drive High Cost of Detroit Metro Auto Coverage, Insurance Lobby Says
Aug 9 2004 // Higher claims frequency and severity make it twice as expensive for insurers to offer full auto and homeowners coverage to residents in metropolitan Detroit than the state as a whole, according to a recent study conducted...
Bank Holding Companies’ Agency Fee Income Rises to $8.4 Billion in 2003
Aug 9 2004 // Bank holding companies (BHCs) earned a record $8.36 billion in insurance agency commissions and fee income in 2003, according to Michael White’s Bank Holding Company Insurance & Investment Fee Income Report...
A Decade of Improving Club Safety and Coverage
Aug 9 2004 // If you have ever insured or considered insuring golf and country clubs, you know that their risks can’t be classified or managed easily. They have kitchens and restaurants, clubhouses used for daily activities and...
