Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
PCI Tells NCOIL That Restrictions on Loss History Are Unnecessary
Jul 18 2004 // The Property Casualty Insurers Association of America (PCI) told lawmakers during a panel discussion that efforts to limit insurers’ access to loss history information on properties are unnecessary and harmful to...
The Midland Company Unveils Q2 Numbers
Jul 15 2004 // The Midland Company, an Ohio-based provider of specialty insurance products and services, reported record results for the second quarter ended June 30, 2004. Net income per share was 58 cents, which included 2 cents in...
Insurer Seeks Damages Over Baltimore Orioles’ Loss
Jul 15 2004 // The Connecticut-based insurer for the Baltimore Orioles is attempting to recover more than $1 million in damages after a train derailment and tunnel fire forced city officials to cancel three home games in July 2001. The...
Loss-History Data Under Scrutiny in 31 States
Jul 14 2004 // Lawmakers or insurance regulators in 31 states have questioned the practice during the past 18 months, and at least 14 states and the District of Columbia have enacted provisions dealing with use of this information,...
Record Q2 for RLI
Jul 14 2004 // Peoria, Ill.-based specialty lines carrier RLI Corp. announced record second-quarter profits, driven growing underwriting profits and investment income. The company reported quarterly net earnings of $18.4 million (71 per...
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+”...
