Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
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...
