Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Commentary on First Half 2003 Results
Oct 20 2003 // The property/casualty insurance industry reported a statutory rate of return of 9.7 percent in the first half of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in 2001....
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
Insurance Journal 80th Anniversary
Oct 20 2003 // One-on-One with Mark Wells, Publisher of the Insurance Journal By Charles E. Boyle Despite his still somewhat boyish appearance, Mark Wells has been the publisher of the Insurance Journal for 33 years, a long time in any...
Commentary on First Half 2003 Results
Oct 20 2003 // The property/casualty insurance industry reported a statutory rate of return of 9.7 percent in the first half of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in 2001....
Travelers P/C Q3 Net Income Rises 28 Percent
Oct 17 2003 // Travelers Property Casualty Corp. today reported a 28 percent increase in net income for the third quarter to $426.1 million, or $0.42 per share diluted ($0.43 basic), from $332.3 million or $0.33 per share, basic and...
Harleysville Comments on Q3 Results – Article Clarification
Oct 17 2003 // Several readers have commented that an earlier article, which appeared in the IJ on Tuesday, concerned the third quarter results for the Harleysville banking group, rather than the insurance group. The two entities,...
Donegal Group Notes Improved Results Despite Hurricane Isabel
Oct 16 2003 // Donegal Group Inc. reported its results of operations for the quarter and nine months ended Sept. 30. The company reported net income of $4,001,385, or $.40 per share on a diluted basis, compared to $3,015,676, or $.33 per...
ISO Reports Insurers’ Q3 CAT Losses Estimated At $2.9 Billion
Oct 14 2003 // Insurers are expected to pay $2.9 billion to homeowners and businesses for insured property losses from seven catastrophic events in the third quarter of this year — up more than 300 percent from the year-ago period —...
Harleysville Posts Record Q3 Earnings
Oct 14 2003 // Pennsylvania-based Harleysville National Corporation announced third quarter 2003 diluted earnings per share of $.36, a 5.9 percent increase over the $.34 earned during the third quarter of 2002 and a record for the...
Brown & Brown Attains New Level of Record Earnings
Oct 10 2003 // Florida-based Brown & Brown, Inc. announced record quarterly earnings for the third quarter of 2003 of $26,051,000 compared with $20,178,000 recorded in the third quarter of 2002, an increase of 29.1 percent. Net...
Selective Estimates Storm Losses at $10 Million
Oct 10 2003 // New Jersey’s Selective Insurance Group, Inc. announced that third quarter 2003 results will be impacted by estimated losses from Hurricane Isabel of $10 million, pre-tax, as a result of over 1,900 claims. The...
HRH Q3 Profits Lower than Expected; Revises Full Year Estimate
Oct 10 2003 // Hilb Rogal & Hobbs Company, the world’s 10th largest insurance and risk management intermediary, has issued an announcement indicating that its third quarter operating earnings would be lower than expected, and...
IEF Mourns Loss of Clanton
Oct 8 2003 // Insurance Education Foundation (IEF) CEO Jack Clanton passed away Sept. 28 after a courageous battle with cancer. Clanton had served as CEO for IEF since August 2002 and was instrumental in continuing the...
A.M. Best Downgrades Ratings of Atlantic Mutual Companies
Oct 7 2003 // A.M. Best Co. has downgraded the financial strength rating of The Atlantic Mutual Companies (The Atlantic) (New York) to B++ (Very Good) from A- (Excellent). Concurrently, A.M. Best has downgraded the debt rating of...
Vesta Names Executive VP., Updates Hurricane Isabel Losses
Oct 7 2003 // Alabama-based Vesta Insurance Group, Inc. announced that Thomas Mangold, has been elected executive vice president. Mangold, in addition to his new role as an executive officer of the holding company, will continue his...
Banks Reportedly Earned More Than $1.7 Billion in Insurance Fee Income in First Half of Year
Oct 7 2003 // Banks reportedly earned $1.73 billion in insurance commissions and fee income in the first half of 2003, according to Michael White’s 2003 Mid-Year Bank Insurance & Investment Fee Income Report™ (Bank-FIR™)...
INSURERS SUE TERROR SUPPORTERS FOR 9/11 LOSSES
Oct 6 2003 // Dozens of insurance companies, acting as members of five large insurance groups—Chubb, American Re, Zurich American, One Beacon and Crum & Forster—have filed a lawsuit in two cities against Al Qaida and other...
Quotesmith.com No Longer Expects 2003 to Be Profitable
Oct 3 2003 // Darien, Ill.-based online broker Quotesmith.com Inc. announced it expects to lose $450,000 to $650,000 in 2003. The company had announced in July that it anticipated to post a profit of $100,000 to $400,000. The company...
Travelers Estimates $75 Million Loss from Hurricane Isabel
Oct 3 2003 // Travelers Property Casualty Corp. announced that its preliminary estimate for catastrophe losses resulting from Hurricane Isabel is approximately $75 million, after reinsurance and tax, based on approximately 33,000 claims...
Unitrin Sees $6 Million in Isabel-Related Losses
Oct 2 2003 // Chicago-based insurer Unitrin Inc. announced that it estimates its catastrophe losses related to Hurricane Isabel to be approximately $6 million after-tax, or 9 cents per share. Unitrin plans to release its full results...
