Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Employers, Fremont Report Q2 2003 Results
Sep 30 2003 // Employers Insurance Company of Nevada, A Mutual Company (“EICN”) and its wholly-owned subsidiary Fremont Employers Insurance Company (“FEIC”) (collectively “the Company”), leading...
$14.5 Billion First Half Profit for P/C Industry
Sep 30 2003 // The U.S. property/casualty industry’s net income after taxes rose to $14.5 billion in first-half 2003 from $4.4 billion in first-half 2002, as both underwriting and investment results improved, according to Insurance...
Safeco Strengthens WC Reserves; Announces Estimates of Hurricane Isabel Losses
Sep 30 2003 // Following the completion of a previously announced review, Safeco strengthened reserves for workers’ compensation, affecting third-quarter financial results by $0.96 per diluted share. Safeco increased loss reserves...
Ohio Casualty Estimates $9 Million Isabel Loss
Sep 26 2003 // Insurer Ohio Casualty Corp. announced that third quarter earnings will be impacted by net catastrophe losses estimated at $16 million before tax which were incurred during the period July 1 through Sept. 24. About $9...
S&P, Moody’s Bullish on Lloyd’s
Sep 25 2003 // Standard & Poor’s and Moody’s Investors’ Service both issued favorable comments yesterday on the current prospects at Lloyd’s. The announcements followed a number of first half reports from...
NAII Wants Clarification of Proposed N.J. Excess Profit Regulation
Sep 25 2003 // The National Association of Independent Insurers announced that it has asked the New Jersey Department of Banking and Insurance to be more specific regarding the methodology contained in a proposed regulation dealing with...
Brit Insurance Posts $51 Million 1st Half Profit
Sep 24 2003 // The U.K.’s Brit Insurance Holdings PLC, a general insurance group and leading Lloyd’s underwriter, announced strong first half results, posting a £31 million ($51.15 million) pretax net profit, compared to a...
RMS Updates Insured Loss Estimate for Hurricane Isabel to $600M
Sep 24 2003 // Risk Management Solutions (RMS) released a revised loss estimate of $600 million for wind-related claims from Hurricane Isabel, updating its initial estimate of $500 million released on Sept. 17. The company also reported...
Midland Sees At Least $10 Million in Isabel Losses
Sep 23 2003 // Cincinnati, Ohio-based Midland Co. announced that it estimates its losses from Hurricane Isabel will likely be in the range of $10 million to $15 million (pre-tax), which after the benefit of reinsurance, would impact...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 22 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by Dec. 31, 2002, compared to $8.5...
Non-Profits, Public Entities Battle Market Conditions
Sep 22 2003 // As some in the industry see profits and smoother sailing ahead, other markets are having a tougher time. In a look at the non-profits and public entities markets, Insurance Journal spoke with several experts in those...
Worksite: An Opportunity to Boost Revenue, Broaden Portfolio
Sep 22 2003 // In the face of rising healthcare costs, agents and brokers who sell employer-paid benefits might consider adding worksite to the mix. Worksite — a way of selling individual insurance policies to groups of employees at...
NAIC Releases Proposed 2004 Budget
Sep 22 2003 // The National Association of Insurance Commissioners (NAIC) released its proposed budget for the year 2004 during its Fall National Meeting and announced a public hearing to discuss the budget via a conference call...
Non-Profits, Public Entities Battle Market Conditions
Sep 22 2003 // As some in the industry see profits and smoother sailing ahead, other markets are having a tougher time. In a look at the non-profits and public entities markets, Insurance Journal spoke with several experts in those...
2002 Market Share for Insurers in Texas
Sep 22 2003 // The 2002 premium and loss data for Texas provides hope for the future of Texas insurance markets. Here are the highlights in review: • The aggregate loss ratio for all Texas companies for all lines of business was 78.4...
EMC’s Reserve Boost Reduces 3Q Earnings by $3 Million
Sep 21 2003 // Des Moines, Iowa-based insurer EMC Insurance Group Inc. announced that it will strengthen its bulk loss and settlement expense reserves by approximately $4.6 million in the third quarter of 2003. This increase in reserves...
RMS Estimates Industry Losses of $500M from Hurricane Isabel
Sep 18 2003 // Risk Management Solutions (RMS) projected that Hurricane Isabel could cause insured losses in the $500 million range if the storm continues on its current track toward Cape Lookout in North Carolina. If the storm makes...
Fitch Affirms XL Capital Ltd. Ratings
Sep 17 2003 // Fitch Ratings has affirmed XL Capital Ltd.’s (XL) long-term issuer and senior debt rating at ‘A+’, and preferred stock rating at ‘A’. Fitch has also affirmed the ‘AA’ insurer...
CAT-i, RISK-i Reports Offer Information on Losses
Sep 16 2003 // Guy Carpenter & Company, Inc., a global risk and reinsurance specialist, announced the availability of CAT-i and RISK-i reports on the company’s Web site (www.guycarp.com), which provide periodic updates on...
A.M. Best Says P/C Industry Maintains Improving Results, Staying Power Questioned
Sep 16 2003 // The property/casualty industry reported robust premium growth and considerably improved underwriting results during the first six months of 2003 over the comparable period of 2002. Driving these results reportedly are the...
