Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
PartnerRe Reports $104.5 million Q4 Net; $467.7 Million Full Year
Feb 10 2004 // Bermuda-based PartnerRe Ltd. reported net income, which includes capital gains and losses on investments, of $104.5 million, or $1.84 per share on a fully diluted basis, for the quarter ended December 31, 2003. Net income...
Infinity Property and Casualty Corp. Releases Q4 Results
Feb 10 2004 // Alabama-based Infinity Property and Casualty Corporation, a provider of personal automobile insurance with an emphasis on nonstandard auto insurance, reported net earnings for the fourth quarter of $19.5 million or $0.94...
Residual Markets Continue to Burden Auto Insurers
Feb 9 2004 // A new report by the Property Casualty Insurers Association of America (PCI) shows that residual market plans for private passenger auto insurance continue to result in significant losses for insurance companies. But one...
Zenith National Unveils Q4 Numbers
Feb 9 2004 // California-based Zenith National Insurance Corp. reported net income of $20.8 million for the fourth quarter of 2003 compared to a net loss of $7.8 million for the fourth quarter of 2002. Net income for the year ended Dec....
2003 CAT LOSSES TOTAL $12.8B:
Feb 9 2004 // U.S. property/casualty insurers paid $12.8 billion to homeowners and businesses for insured property losses from 21 catastrophic events last year, according to current estimates by Insurance Services Office Inc.’s...
No Brake Yet for Personal & Commercial Auto
Feb 9 2004 // The auto insurance market has come a long way since Travelers wrote the first third-party policy for Gilbert J. Loomis’s one-cylinder car in 1897. “I’ll never insure a gasoline can on wheels,”...
Subrogation Outsourcing Offers Value, Greater Claims Recovery
Feb 9 2004 // How an insurance company handles the subrogation function impacts its value to policyholders and shareholders. While financial stability, underwriting expertise and breadth of coverage remain important, an insurer’s...
