Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Claudette Insured Losses Start at $17 Million
Jul 22 2003 // An insurance industry spokesperson said today that preliminary insured losses from Hurricane Claudette are starting at $17 million. “It is still far too early to estimate precisely what total insured losses will be....
ACE INA UK Announces 2003 Half-Year Results
Jul 22 2003 // ACE’s creation of a unique London-based trading floor is paying considerable dividends for ACE INA UK Limited, the newly re-authorised business of the ACE European Group. Results for the first six months of trading...
The Benefits of Forming Your Own Premium Finance Company
Jul 21 2003 // This is the first in a three-part series on captive premium financing. Part Two will run in the August 18 issue of Insurance Journal. Agents and managing general agents continue to reap the benefits of a growing excess and...
Midland Loses Cool Million in Q2
Jul 18 2003 // Cincinnati-based Midland Co. reported a net loss of $1 million, or 6 cents per share, including 10 cents in realized capital gains for the second quarter. That compares with net income of $5.9 million, or 33 cents per...
S&P Updates Royal SunAlliance USA Group Members
Jul 17 2003 // Standard & Poor’s commented on the members of the Royal SunAlliance USA group (RSA USA): Royal Insurance Co. of America, Royal Indemnity Co., Connecticut Indemnity Co., Security Insurance Co. of Hartford,...
Water Losses Flood Calif. Homeowners’ Market, Study Says
Jul 17 2003 // The cost of household water damage in California continues to grow at an alarming rate, while the volume of insurance claims being filed for water damage is climbing modestly, a new study has found. Remediation and...
RLI Earnings 22% Higher Than Year Earlier
Jul 17 2003 // Peoria, Ill.-based RLI Corp. posted quarterly net earnings of $15.4 million (60 cents per diluted share), a 22 percent per-share improvement over the $10.0 million (49 cents per diluted share) posted in the second quarter...
Cincinnati Financial Expects 99% Q2 Combined Ratio
Jul 15 2003 // Cincinnati Financial Corp. has announced that it expects strong second-quarter 2003 results as momentum carries over from 2002 and the first quarter of 2003. Based on preliminary data, management expects second quarter...
State Auto Financial Expects Storms to Impact Earnings
Jul 10 2003 // Ohio-based State Auto Financial Corporation has increased its estimate of May storm losses by $16 million, bringing the total to $39 to $42 million, pre-tax. This will add seven loss ratio points to the previous estimate...
EICN, A Mutual Company, and Fremont Employers Insurance Co. Note Q1 Results
Jul 8 2003 // Employers Insurance Company of Nevada, A Mutual Company (“EICN”) and its wholly owned subsidiary Fremont Employers Insurance Company (“FEIC”) (collectively the “Company”), a provider of...
Goshawk Warns on Profits; Best Lowers Syndicate Ratings
Jul 8 2003 // London’s Goshawk Insurance, a specialty insurer and reinsurer, which manages Lloyd’s Syndicate 102, warned that it may not meet profit forecasts for the year due to adverse developments. The news not only sent...
PIANJ Seeking Agents Interested in Earning CIC Designation
Jul 8 2003 // The Professional Insurance Agents of New Jersey Inc. is calling for nominations for its 2003 Certified Insurance Counselor scholarship opportunities. Selected individuals will receive a $350 scholarship to one CIC...
P/C Q1 Net Income Up 20.6%-Driven by Underwriting, Net Investment Gains
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
The Benefits of Forming Your Own Premium Finance Company
Jul 7 2003 // This is the first in a three-part series on captive premium financing. Part Two will run in the July 21 issue of Insurance Journal. Agents and managing general agents continue to reap the benefits of a growing excess and...
CONNING: AUTOMATIC COMMERCIAL UNDERWRITING NOT AUTOMATICALLY PROFITABLE
Jul 7 2003 // The commercial property/casualty industry is on the threshold of an “adapt or perish” decision when it comes to underwriting automation, according to a study from Conning Research & Consulting Inc. The...
Net Income Up 20.6 Percent for P/C Insurers in Q1
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing one percent in 2002 and the worst-ever negative 2.4 percent recorded in...
AXA Files Form 20-F With the SEC; Reduces Income Figures
Jul 1 2003 // France’s AXA SA announced that, following discussions, it has filed its Annual Report on Form 20-F for the year ended December 31, 2002 with the Securities and Exchange Commission. The figures were compiled using...
Researchers Study 2.7M Auto Records; Reportedly Find Irrefutable Connection Between Credit History and Risk of Loss
Jun 24 2003 // In the largest and reportedly most comprehensive study ever undertaken on the connection between credit history and insurance risk, a team of researchers has found that a consumer’s credit-based insurance score is...
