Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Losses Drive High Cost of Detroit Metro Auto Coverage, Insurance Lobby Says
Jul 14 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’ Insurance Agency Fee Income Rises to Record $8.4 Billion in 2003
Jul 13 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...
Consumer Group Claims NAMIC Study on Credit Scoring ‘Flip-Flops’ Earlier Positions
Jul 9 2004 // The consumer group, Center for Economic Justice (CEJ), released a statement in response to a National Association of Mutual Insurance Companies (NAMIC) study on credit scoring. CEJ’s Executive Director Birny Birnbaum...
Va. Gov. Applauds State for Earning Special Recognition for Drop in Traffic Fatalities
Jul 9 2004 // Virginia Gov. Mark Warner on Thursday applauded Virginia’s law enforcement, transportation officials, and motorists for doing their part in making the Commonwealth’s highways among the safest in the...
S&P Report Analyzes European Insurers’ Profit Growth
Jul 7 2004 // According to a recent report issued by Standard & Poor’s Rating Services, “Europe’s insurers will continue to face challenges in delivering genuine ‘profitable growth’ over the next few...
S&P Affirms Ratings for Best Meridian Insurance Co. Along with Subsidiary
Jul 7 2004 // Standard & Poor’s Ratings Services affirmed its ‘BBB-‘ counterparty credit and financial strength ratings on Best Meridian Insurance Co. (BMI) and its subsidiary, Best Meridian International...
WCIRB Releases Report on Calendar Year 2003 Losses and Expenses
Jul 6 2004 // The WCIRB has released its annual report on 2003 losses and expenses for the California workers’ compensation insurance industry, pursuant to Section 11759.1 of the Insurance Code. The report can be viewed by...
Another Soft Market Creates a Hard Reality
Jul 5 2004 // Like a commercial airline scrambling to squeeze out a profit in the face of increased competition and skyrocketing fuel prices, many insurance agents find themselves caught in the downward spiral of another soft market...
High Level Disability Income Product
Jul 5 2004 // Nuts & Bolts: Rockwood Programs has partnered with ASU International Inc. to launch a disability income product positioned to meet the coverage needs of highly compensated personnel. The initiative, called the...
Principals Should Focus on Creating Agency Value, Not Day-to-Day Issues
Jul 5 2004 // Over the years, I have found that many agency owners peg their agency value to traditional benchmarks and current market values. At one time, the industry benchmark for an average agency was one and a half times annual...
High Level Disability Income
Jul 5 2004 // Nuts & Bolts: Rockwood Programs has partnered with ASU International Inc. to launch a disability income product positioned to meet the coverage needs of highly compensated personnel. The initiative, called the...
Agency Value-What is Your Agency Worth’
Jul 5 2004 // Over the years, I have found that many agency owners peg their agency value to traditional benchmarks and current market values. At one time, the industry benchmark for an average agency was one and a half times annual...
Hub Closes Talbot Acquisition
Jul 2 2004 // Chicago-based brokerage giant Hub International Ltd. announced completion of its previously announced acquisition of Talbot Financial Corp., a $100 million revenue insurance brokerage based in Albuquerque, New Mexico. The...
P/C Industry’s Q1 Net Income Doubles
Jun 29 2004 // The U.S. property/casualty industry’s net income after taxes rose to $13.3 billion in first-quarter 2004 from $6.5 billion in first-quarter 2003 as insurers posted an underwriting profit for only the second time...
Best Downgrades Ratings for Atlantic Mutual Cos.
Jun 29 2004 // A.M. Best Co. has downgraded the financial strength rating to B+ (Very Good) from B++ (Very Good) of The Atlantic Mutual Companies (The Atlantic). Concurrently, A.M. Best has downgraded the debt rating to “b+”...
Best: Q1 P/C Results Build on 2003 Profit Surge
Jun 23 2004 // The property/casualty industry continued to build on the operating momentum achieved during 2003, as the industry reported an underwriting gain during the first quarter of 2004. Further, very strong operating results and...
Aon Study Finds 2003 P/C Earnings Volatility Lower
Jun 21 2004 // Aon Corporation announced that the results of its 2003 P/C Earnings Volatility Study showed that insurers and reinsurers were more effective at minimizing earnings volatility in 2003. “The study measures earnings...
The Truth About Texas’ Homeowners Insurance Industry
Jun 21 2004 // Due to recent reforms the Texas insurance market is stabilizing and loss ratios in Texas are better. But while things are better, conditions are far from first-rate for insurance companies. There have been no real signs of...
That’s Entertainment Disability Insurance
Jun 21 2004 // Twenty years ago, no one envisioned top entertainers earning $20 million for a single film, or for 90 days of work. Unusual work schedule aside, the dollars involved in protecting these individuals creates a unique...
EMC Ups Q2 Reserves, Estimates Storm Losses
Jun 16 2004 // Des Moines, Iowa-based EMC Insurance Group announced that it will strengthen its bulk loss and settlement expense reserves by about $2.9 million for the second quarter. The company also estimated additional storm losses of...
