Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Natural Disasters More Severe and More Costly
Feb 23 2004 // According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion...
Michigan Still a Loss Ratio Laggard
Feb 23 2004 // The U.S. Census Bureau’s 2000 census estimated the Michigan’s population at almost 10 million. About 83 percent of the adult residents had graduated from high school and about 22 percent had earned a...
HCC Notes 2003 Results and 2004 Earnings Guidance
Feb 20 2004 // Houston-based HCC Insurance Holdings Inc. reported results for the fourth quarter and for the full year that ended Dec. 31, 2003. Net earnings for the fourth quarter 2003 increased significantly to $50.5 million, or $0.77...
Zurich Bounces Back with $2.1 Billion 2003 Net; Best Comments
Feb 20 2004 // Zurich Financial Services (ZFS) has rebounded strongly. After its disastrous $3.4 billion loss in 2002, the company reported net earnings of $2.1 billion for 2003, a return on equity of 12.5 percent. Other highlights cited...
APCapital Q4 Barely Profitable; $76 Million Loss for Year
Feb 19 2004 // East Lansing, Mich.-based medical liability insurer American Physicians Capital Inc. announced net income of $102,000, or 1 cent per share for the fourth quarter of 2003. For the year, the company reported a net loss of...
WCIRB Report on Q3 2003 Insurer Results Released
Feb 18 2004 // The WCIRB has compiled a summary of insurer reports of loss and premium experience valued as of September 30, 2003. The report shows that statewide insurer written premium for the first three quarters of 2003, prior to...
Arch Capital Reports $83.7 Million Q4 Net; $280.6 Million Full Year
Feb 18 2004 // Bermuda-based Arch Capital Group Ltd. reported that its net income for the 2003 fourth quarter was $83.7 million, or $1.22 per share, compared to $43.5 million, or $0.65 per share, for the 2002 fourth quarter. Net income...
Harleysville Confirms Loss; Best Lowers Ratings
Feb 18 2004 // Harleysville Group Inc. reported a diluted net loss of $0.66 per share in the fourth quarter of 2003, reflecting the previously announced loss reserve increases in several business lines for prior accident years (See IJ...
Ohio Casualty’s Q4 Profit Down 5%; 260 Laid Off; S&P Revises to Stable
Feb 17 2004 // Insurer Ohio Casualty Corp. announced that its 2004 fourth-quarter profit was $27.7 million, down 5 percent from last year’s $29.1 million. Meanwhile, the Fairfield, Ohio-based company boasted that a company-wide...
Aon’s Profit Up 20%
Feb 17 2004 // Chicago-based brokerage giant Aon Corp. said its profit was up 20 percent in 2003, from $1.64 per share to $1.97 per share. Fourth-quarter net income per share was 67 cents, compared to 59 cents in 2002. Fourth-quarter net...
PCI Notes Md. Credit Study Shows No Adverse Impact on Minorities
Feb 17 2004 // The Property Casualty Insurers Association of America has issued a bulletin noting that a recent report, issued by the Maryland Insurance Administration (MIA) on the use of credit-based insurance scoring, found no basis...
CNA Surety Releases Q4 and Year-End 2003 Results
Feb 16 2004 // CNA Surety Corporation reported net income for the fourth quarter of 2003 of $10.6 million, or $0.25 per share, compared to net income of $4.0 million, or $0.09 per share, for the same period in 2002. The fourth quarter...
Kingsway Posts 7% Increase in Net to $64.6 Million
Feb 13 2004 // Canada’s Kingsway Financial Services Inc., a leading provider in the U.S. of non-standard auto insurance, announced that its net income for the year increased by 7 percent to a record C$85.3 million (U.S. $64.6...
Montpelier Re Reports $99.9 Million Q4 Net; $407.1 Million Full Year
Feb 13 2004 // Montpelier Re Holdings Ltd. reported net income of $99.9 million, or $1.46 diluted earnings per share, for the three months to December 31, 2003 and net income of $407.1 million, or $6.05 diluted earnings per share, for...
AIG Reports Record 2003 Net Income of $9.27 Billion
Feb 12 2004 // American International Group, Inc. (AIG) reported that its net income for the full year 2003 increased 68.0 percent to a record $9.27 billion, compared to $5.52 billion in 2002. Net income excluding realized capital gains...
Hilb Rogal & Hobbs Company Notes Record Results for Q4 and Full Year 2003
Feb 12 2004 // Virginia-based Hilb Rogal & Hobbs Company reported financial results for the fourth quarter and year ended Dec. 31, 2003. For the fourth quarter, total revenues were $142.7 million, compared with $128.7 million a year...
Best Affirms Allianz ‘A+’ Ratings
Feb 12 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Germany’s Allianz Aktiengesellschaft and its core subsidiaries. It has also affirmed the “aa-”...
Transatlantic Holdings Announces Record Q4, Full Year Net Income
Feb 12 2004 // Transatlantic Holdings, Inc. reported that its net income for 2003 increased 79.3 percent to $303.6 million, or $5.75 per common share (diluted), compared to $169.3 million, or $3.21 per common share (diluted), in 2002....
Harleysville Ups Loss Reserves; Expects Full Year Loss; S&P Comments
Feb 12 2004 // Pennsylvania’s Harleysville Group Inc. (HGIC) announced that it is increasing loss reserves for prior accident years by $42 million pre-tax, or $0.92 per share after tax, in the fourth quarter of 2003, reflecting...
PMA Capital Announces $20 Million Q4 Net Loss; Vincent Donnelly New President & CEO
Feb 12 2004 // Philadelphia-based PMA Capital announced a net fourth quarter loss of $20 million, or 64 cents per share, compared with a net loss of $10.4 million, or 33 cents per share, for the fourth quarter of 2002. The Company also...
