Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurers Sue Terror Supporters for 9/11 Losses
Sep 10 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...
Munich Re Posts Fifth Consecutive Quarterly Loss, as Taxes Hit Profits
Sep 8 2003 // Germany’s Munich Re can’t seem to buy a break. Despite good gains in operating profit, 777 million euros ($845 million) in the first six months of 2003, the world’s biggest reinsurer posted its fifth...
ISO Says P/C’s Net Worth Continues to Decline Despite Rising Profits
Sep 8 2003 // While strong underwriting results propelled the property/casualty industry to profitability in 2002, insurers have not fully recovered from anemic premium growth of the 1990s and Sept. 11 losses, according to a...
Cadillac Escalade SUV as Top Theft Target, Worst Overall Theft Losses
Sep 8 2003 // According to the latest report from the Highway Loss Data Institute (HLDI), an affiliate of the Insurance Institute for Highway Safety, the Cadillac Escalade SUV has the most frequent theft claims among 2000-02 model...
CLAUDETTE LOSSES AT $90M
Sep 8 2003 // The Insurance Council of Texas reported that Hurricane Claudette, which hit the Texas coast in July, caused an estimated $90 million in insured losses. Claudette came ashore July 15, striking land at Port O’Connor...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 5 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 December 31, 2002, compared to $8.5...
CNA Surety Announces $15 Million Loss on Claim
Sep 4 2003 // CNA Surety Corp. announced today that it recently received a claim notification on a $19.5 million insurance program bond. This commercial surety bond supports the credit obligations of a principal to a third party...
R&SA Confirms 1st Half Profit Increase, Rights Issue; Sells Some U.S. Renewal Rights to Travelers
Sep 4 2003 // The U.K.’s Royal & Sun Alliance confirmed a 14.25 percent increase in net group profits for the first half of 2003 – £351 million ($556 million), compared to £301 million ($477 million) in 1st half 2002....
Report R&SA to Post Good 1st Half Profits; May Revive Rights Offer
Sep 3 2003 // According to reports from British news services and financial journals, Royal & Sun Alliance, the U.K.’s second largest P/C insurer, is set to announce a significant increase in its first half 2003 profits...
Veterinary Pet Services Announces Increase in 2ndQ 2003 Revenue
Sep 2 2003 // Brea, Calif.-based Veterinary Pet Services Inc., the parent company of Veterinary Pet Insurance Company and its subsidiary, DVM Insurance Agency, announced a 26 percent increase in revenue for the quarter ended June 30,...
Swiss Re Reports $490 Million 1st Half Net Earnings
Aug 29 2003 // Unlike its German rival (see following story) Swiss Re posted a significant first half-earnings increase to CHF 691 million ($490 million), compared to CHF 118 million ($83.6 million) in the same period of 2002. Total...
Munich Re Posts Fifth Consecutive Quarterly Loss, as Taxes Hit Profits
Aug 29 2003 // In contrast to its Swiss rival (see previous article) Germany’s Munich Re can’t seem to buy a break. Despite good gains in operating profit, 777 million euros ($845 million) in the first six months of 2003, the...
SCOR Group Confirms 1st Half Results
Aug 28 2003 // The Board of Directors of French reinsurer SCOR met on Tuesday, Aug. 26, 2003 to approve the financial statements for the first half of 2003. The meeting, chaired by CEO Denis Kessler, formalized the results announced Aug....
S&P Comments on Promina’s Profit Figures
Aug 28 2003 // Standard & Poor’s Ratings Services issued a bulletin noting that Australia and New Zealand’s Promina Group Ltd.’s reported half-year profits of A$135 million ($U.S.$87 million) after tax, indicating...
Colo. Workers’ Comp Loss Costs May Decrease
Aug 27 2003 // Workers’ compensation costs for some Colorado employers may decrease later this year. Colorado Insurance Commissioner Doug Dean announced that the National Council on Compensation Insurance (NCCI) has filed an...
Claudette’s Losses Climb to $90 Million
Aug 27 2003 // The Insurance Council of Texas reported that Hurricane Claudette, which hit the Texas coast in July, caused an estimated $90 million in insured losses, placing the storm just ahead of Hurricane Carla in dollar losses....
Hannover Re Reports Steady 1st Half Profits
Aug 27 2003 // Germany’s Hannover Re continues to record a steady operating performance. Just reported first-half results show net premiums earned up 9.4 percent to 5.9775 billion euros ($6.5 billion, a slight increase in operating...
PAULA Financial Reports Net Income for 2ndQ 2003
Aug 26 2003 // Pasadena, Calif.-based PAULA Financial announced net income for the second quarter of 2003 of $0.02 per share compared to $0.01 per shares for the 2002 period. Total revenue for the second quarter of 2003 was $4.3 million...
Kansas Storm Loss Now Exceeds $256 Million
Aug 25 2003 // Kansas Insurance Commissioner Sandy Praeger said the 2003 storm season in Kansas produced more than $256 million in losses of insured property and crops during April through July. “The storm season extended well...
Cadillac Escalade SUV Drives Off As Top Theft Target, Worst Overall Theft Losses
Aug 22 2003 // According to the latest report from the Highway Loss Data Institute (HLDI), an affiliate of the Insurance Institute for Highway Safety, the Cadillac Escalade SUV has the most frequent theft claims among 2000-02 model...
