Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Rockwood Launches New Disability Income Product
Jun 15 2004 // Rockwood Programs has partnered with ASU International Inc. to launch a disability income product uniquely positioned to meet the coverage needs of highly compensated personnel. The initiative called the Rockwood Executive...
EQECAT Releases High Resolution Tornado/Hail Catastrophe Model; Cites Potential $11 Billion Loss
Jun 10 2004 // Oakland Calif.-based EQECAT, Inc. has announced the release of its U.S. Tornado/Hail/Straight Wind model, for assessing and managing insurance risk associated with these key natural hazard perils. The bulletin noted that...
The Broker–The Policyholder’s Advocate
Jun 7 2004 // Some large brokerage firms are under siege by New York Attorney General Eliott Spitzer as his investigation scrutinizes the legality of the longstanding practice of Placement Service Agreements (PSAs). This is really about...
Cincinnati Financial: May Storm Losses at $50 Million
Jun 3 2004 // Cincinnati Financial Corp. announced a preliminary estimate of approximately $50 million for May 2004 pretax catastrophe losses resulting from three periods of severe weather between May 17 and May 31. The Cincinnati...
Claims and Loss History Now Part of MI Rater
Jun 2 2004 // Eleva, Wis.-based MI-Assistant announced the incorporation of loss-history information from previous auto claims into the company’s rating program for agents to properly evaluate and rate auto insurance policies with...
Allmerica Expects $13 Million Loss from Storms
Jun 2 2004 // Allmerica Financial Corporation announced that it currently expects to incur approximately $13 million in pre-tax catastrophe losses resulting from severe thunderstorms, hail and tornadoes. The storms occurred mainly in...
N.Y. Murder-for-Profit Suspect Charged Again
May 26 2004 // A Guyanese immigrant has been charged in the killings of two men whom prosecutors call the victims of a murder-for-profit and insurance fraud scheme that may have claimed the lives of at least 10 other people. Ronald...
U.K.’S Cox Reports 22% 2003 Profit Increase; Announces Outsourcing Plans
May 21 2004 // Cox Insurance Holdings, plc., the U.K.’s largest motorcycle insurer, which operates primarily out of the Lloyd’s market, announced a hefty 22 percent increase in profits for 2003 to £52.1 million ($92.8...
Texas Approves Additional ISO Commercial Auto Tools
May 21 2004 // The Texas Department of Insurance (TDI) has cleared the way for insurers to make filings immediately using Insurance Services Office Inc.‘s (ISO) commercial auto advisory information. According to ISO, its advisory...
PAULA Financial Reports Net Income for the First Quarter of 2004
May 18 2004 // PAULA Financial announced net income for the first quarter of 2004 of $0.08 per share compared to $0.05 per share for the 2003 period. Total revenue for the first quarter of 2004 was $5.2 million compared to $4.6 million...
High-Tech Systems Help Make the Agent an Underwriter
May 17 2004 // Many carriers, especially commercial lines carriers, rely on independent agencies to sell and service policyholders. The agency typically owns and maintains the relationship with the insured. Carriers that maximize agent...
PCI White Paper: Insurer Profitability Must Be Viewed Over Long Term
May 17 2004 // A white paper published by the Property Casualty Insurers Association of America (PCI) shows that insurance industry profitability must be evaluated over the long term and that loss costs, not investment return, are the...
Espirito Santo: Q1 Results of Insurance Subsidiaries
May 17 2004 // Espirito Santo Financial Group S.A. (ESFG), a holding company operating in Portugal and Luxembourg, announced the non-audited results of its insurance subsidiaries in Portugal (Tranquilidade Group), Companhia de Seguros...
Aligned Interests-Agency Perpetuation through the Leavitt Group
May 17 2004 // Insurance Journal asked me to spend 2,000 words on the Leavitt Group’s agency perpetuation philosophy. So, after rattling off some rather sterile company background, I’ll describe how we and our co-owners...
Mass. Gov. Romney Kicks Auto Insurance Reform into High Gear
May 17 2004 // The industry officials who run the private passenger auto high risk system in Massachusetts have started drawing up rules in response to urgings by the administration of Gov. Mitt Romney to make their operations and the...
R&SA Restructuring Reduces Revenues, But Strengthens Overall Financial Condition
May 13 2004 // The U.K.’s Royal & Sun Alliance announced first quarter figures that broadly reflect its ongoing restructuring efforts. Under the direction of Andy Haste, who took charge of Britain’s second largest...
ING Posts Q1 Gains in all Sectors Gains; Will Sell Australian Business to QBE
May 13 2004 // Holland’s ING Group made a strong start for 2004, announcing a 32 percent rise in operating net profits to 1.191 billion euros ($1.41 billion) or 57 euro cents ($0.67) per share. Overall net profits increased to...
S&P Report: Property Catastrophe Reinsurance Shows Good Year, Despite Higher Losses
May 13 2004 // Despite higher insured catastrophe losses in the U.S. in 2003, companies writing property catastrophe reinsurance realized very strong operating performance, according to a report published by Standard & Poor’s...
Assured Guaranty Posts $46.9 Million Q1 Net
May 12 2004 // Assured Guaranty Ltd., the international surety insurer, formed from the spin off of ACE Limited’s surety operations, announced net income of $46.9 million for the first quarter ended March 31, 2004, an increase of...
