Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
ACIC Opposes Excess Profits Bill
Apr 27 2004 // Legislation that would amend Proposition 103 to expand the insurance commissioner’s authority to disapprove rates beyond current standards is unjustified and unnecessary, according to the Association of California...
Selective Insurance Group Unveils Q1 Numbers
Apr 27 2004 // New Jersey-based Selective Insurance Group Inc., reported net income of $27.5 million, or $0.88 per diluted share, for the first quarter ended March 31, 2004, compared with $8.0 million, or $0.29 per diluted share, for the...
Insurance Auto Auctions Records Higher Earnings
Apr 26 2004 // Illinois-based Insurance Auto Auctions Inc., a provider of automotive salvage and claims processing services in the United States, reported higher net earnings for the quarter ended March 28, 2004. The company recorded net...
Midland Reports Record Q1 Results
Apr 23 2004 // Cincinnati-based specialty insurer Midland Co. reported record results for the first quarter of 2004. Net income per share was 90 cents, including 16 cents in realized capital gains. That compares with the prior record of...
AIG Reports Q1 Net Earnings of $2.66 Billion
Apr 23 2004 // American International Group reported a 35.9 percent increase in first quarter net earnings to $2.66 billion, or $1.01 per share, compared to $1.95 billion or $0.74 per share in the first quarter of 2003. The company said...
Vermont’s Chittenden Reports Q1 Earnings
Apr 23 2004 // Chittenden Corporation (NYSE: CHZ) Chairman Paul A. Perrault announced earnings for the quarter ended March 31, 2004 of $17.5 million or $0.47 per diluted share, compared to $16.6 million or $0.49 a year ago. Chittenden...
Putnam Settlement Weighs on MMC’s Q1 Results
Apr 22 2004 // Marsh & McLennan Companies, Inc. reported financial results for the quarter ended March 31, 2004. Consolidated revenues increased 13 percent to $3.2 billion from $2.9 billion in the first quarter of 2003. Net income...
Consumer Study Disputes Need for Renewal of Terrorism Reinsurance
Apr 22 2004 // The nation’s terrorism insurance law is not necessary to ensure the availability of affordable terrorism coverage for most areas of the country and should be allowed to expire, according to a study released by the...
Alfa Corp. Estimates Storm Losses Over $10 Million
Apr 21 2004 // Montgomery, Ala. -based Alfa Insurance Group and Alfa Corporation have announced preliminary estimates of losses from a series of thunderstorms that struck Alabama in early April. “These thunderstorms produced hail,...
Profit at Insurer Safeco Zooms on Higher Premiums
Apr 21 2004 // Safeco Corp. said April 20 that its first-quarter profit more than doubled from a year ago, as premiums rose in its property-casualty insurance operations. The Seattle-based insurer reported net income of $236.2 million,...
Everest Re Q1 Operating Earnings $151.5 Million
Apr 20 2004 // Everest Re Group, Ltd. reported from its Barbados headquarters that first quarter 2004 after-tax operating income, which excludes realized capital gains and losses, was $151.5 million, or $2.67 per diluted share, a 45.6...
ISO Symbols Rate Liability By Make and Model
Apr 19 2004 // Insurance Services Office, Inc. (ISO) has introduced a personal auto rating program carriers can use to tailor the cost of insurance for bodily injury and property damage liability and no-fault/medical payments coverage...
Minnesota: An Inside Look at the Land of Lakes
Apr 19 2004 // The U.S. Census Bureau’s 2000 census estimated the Minnesota population at 4.9 million. About 88 percent of the adult residents had graduated from high school and about 27 percent had earned a bachelor’s degree...
Legislators CLUE in to Loss Reports
Apr 19 2004 // Among the many topics addressed by the property and casualty insurance committee of the National Confer-ence of Insurance Legislators (NCOIL) at its meeting in San Antonio Feb. 26 – 29, was the comprehensive loss...
First M&F Reveals Q1 Numbers
Apr 18 2004 // Mississippi-based First M&F Corp.’s net income for the quarter ended March 31, 2004 was $2,600,914, or $.57 basic and diluted earnings per share, compared to $2,653,589, or $.57 basic and diluted earnings per...
S&P Enhances Criteria to Evaluate Loss Reserves of Global Reinsurers
Apr 16 2004 // Standard & Poor’s has recently enhanced its criteria for evaluating the loss reserves of global reinsurance groups and certain non-U.S. insurance groups writing casualty business, according to a recently...
Loss Reserve Adequacy, Fair Value Accounting Among Topics at CAS Spring Meeting
Apr 15 2004 // The truth about loss reserve adequacy, from the perspective of a regulator, an investor and an attorney, and the rationale behind the implementation of fair value accounting standards will be among the topics featured at...
A.M. Best Affirms OneBeacon’s ‘A’ Rating
Apr 14 2004 // A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of the OneBeacon Insurance Group (Boston, Mass.) and Folksamerica Reinsurance Company (New York, N.Y.). OneBeacon’s rating is based on its...
BB&T Notes Q1 Income of $328.5 Million
Apr 14 2004 // North Carolina-based BB&T Corporation has reported net income for the first quarter of 2004 totaling $328.5 million, or $.60 per diluted share. Net income increased slightly compared with $327.7 million earned in the...
P/C Net Income Propels Surplus
Apr 14 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003 — nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
