Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Zurich Confirms $3.4 Billion 2002 Loss; Best Sees No Change in Ratings
Feb 27 2003 // Swiss-based Zurich Financial Services (ZFS) confirmed previous indications that 2002 was a very bad year by posting a $3.4 billion net loss. The losses were mainly due to special writeoffs and the decline in equity values,...
Montpelier Re Reports Q4 Net of $73.7 Million; Full Year $152 Million
Feb 27 2003 // Montpelier Re Holdings Ltd., the Bermuda-based reinsurer formed by the White Mountains insurance group, reported net income of $73.7 million, or $1.11 diluted earnings per share, for the three months to December 31, 2002...
MIIX Group Reports Q4, Full Year Results
Feb 27 2003 // The New Jersey based MIIX Group, Inc., a provider of medical professional liability insurance services, announced a net operating loss for the fourth quarter ended December 31, 2002, of $63.7 million, or $4.77 per share,...
Swiss Re’ Expects $74 Million 2002 Loss; January Renewal Rates up 10%
Feb 26 2003 // Swiss Re indicated that it expects to post a net loss in the CHF 100 million ($73.7 million) range for the year 2002, due primarily to weakness in global equity markets, but the company also announced that the January...
Erie Indemnity Reports Gains in Q4 and Full-Year 2002 Results
Feb 26 2003 // Erie Indemnity Company announced good results for the fourth quarter and full-year 2002 with Q4 net income reaching $33.9 million, up from $5.9 million for the same period in 2001. The announcement also noted that —...
Arch Capital Group Ltd. Unveils 4thQ, 2002 Numbers
Feb 25 2003 // Bermuda-based Arch Capital Group Ltd. reported that net premiums written for the 2002 fourth quarter were $439.2 million, of which the company’s reinsurance and insurance operations contributed net premiums written...
Changes To Wind-Loss Mitigation Credits Under ISO’s Fla. Program Approved
Feb 25 2003 // The Florida Office of Insurance Regulation has approved Insurance Services Office, Inc.’s (ISO) homeowners program for insurers to provide homeowners premium credits for wind-loss mitigation features in residential...
HCC Reports Record Results for 2002
Feb 24 2003 // HCC Insurance Holdings Inc., based in Houston, reported that 2002 was the best year in the company’s history, and that it achieved record earnings results for the fourth quarter and for the full year that ended...
AIG Shocks the Industry with $1.8 Billion After-tax Reserve Strengthening
Feb 24 2003 // Neither the insurance industry nor the stock market was prepared for the announcement made by American International Group recently, that it would “incur a net, after tax charge of $1.8 billion in the fourth quarter...
AIG Shocks Industry with $1.8 Billion After-Tax Reserve Strengthening
Feb 24 2003 // Neither the insurance industry nor the stock market was prepared for the announcement made by American International Group on Feb. 3, that it would “incur a net, after tax charge of $1.8 billion in the fourth quarter...
Med Mal Fever: When Doctors Walk Out, Politicians Notice
Feb 24 2003 // They’re baaack. High-flying medical malpractice liability claims losses, that is. The availability crisis of the 1970s and the affordability crisis of the 1980s may be nothing compared to the crisis insurers and...
FPIC Group Pleased with Financial Numbers
Feb 21 2003 // Florida-based FPIC Insurance Group, Inc. reported operating earnings of $3.4 million, or $0.36 per diluted share, for the fourth quarter 2002, up from an operating loss of ($4.0) million, or ($0.43) per diluted share, for...
Ohio Casualty Group Agents Now Have Access to Policy Loss Run Inquiry
Feb 21 2003 // Ohio Casualty Group (OCG) agents using Applied Agency Management Systems will now have access to Policy Loss Run Reports available through IVANS Transformation Station. The Loss Run Reports also will be accessible through...
AFG’s Fourth Quarter Earnings Up 40% Over 2001
Feb 20 2003 // American Financial Group Inc.’s (AFG) fourth-quarter net earnings were up 40 percent from a year earlier to $44.2 million, or 64 cents per share, from $31.5 million, or 46 cents per share, thanks to AFG’s focus...
Harleysville Group Notes Strong 4thQ, 2002 Results
Feb 19 2003 // Pennsylvania-based Harleysville Group Inc. reported strong fourth quarter and full-year 2002 results, citing continuing improvements in its underwriting profitability and solid growth in its small commercial...
N.Y. Dept., ISO Finalize Terrorism Loss Costs
Feb 19 2003 // New York Superintendent of Insurance Gregory Serio announced that the Department has reached an agreement with the Insurance Services Organization (ISO) on terrorism loss costs for commercial property in New York...
White Mountains Reports Improved 2002 Results
Feb 19 2003 // Bermuda-based White Mountains Insurance Group, Ltd. ended 2002 with a fully converted tangible book value per share of $259, a 15 percent increase for the year. The company’s comprehensive net income for 2002 was...
P/C Insurers Expected to Pay $5.8B for Insured Property-Loss Catastrophe Losses
Feb 14 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
APCapital Reports Fewer Losses, Sees 2003 Profits
Feb 14 2003 // American Physicians Capital Inc. reported a net operating loss of $1.1 million, or 12 cents per diluted share, in the fourth quarter of 2002, compared to a net operating loss of $14.5 million, or $1.38 per diluted share,...
Aon Pulls Down $178 Million in Fourth Quarter
Feb 13 2003 // Aon Corp.’s fourth-quarter net income soared and the company appears to have made a stunning recovery from the impact of the Sept. 11, 2001, attacks on the World Trade Center. The Chicago-based insurance brokerage...
