Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Midland Co. Reports Record First Quarter 2003 Results
Apr 17 2003 // The Midland Co. reported record results for its first quarter ended March 31, 2003. Net income per share was 56 cents, including 7 cents in realized capital losses. That compares with 44 cents per share in last...
Taking a look at 2002 Results
Apr 17 2003 // The property/casualty insurance industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office,...
Gulf Partners with Corpedia to Reduce D&O Risk of Loss
Apr 16 2003 // New York-based Gulf Insurance Group, a provider of directors and officers liability (D&O) and Phoenix-based Corpedia Corporation have come together to provide incentives to reduce the risk of loss through compliance...
A.M. Best Reports: P/C Premium Growth Solid
Apr 16 2003 // The property/casualty industry continued to report strong growth in net written premiums for both the fourth quarter and full-year 2002 amid robust price increases across all sectors, according to the A.M. Best...
American Safety Group Ltd. Reports 4thQ, 2002 Year End Results
Apr 16 2003 // American Safety Insurance Group, Ltd. announced results for the fourth quarter and full year ended Dec. 31, 2002. Total revenues for the fourth quarter of 2002 decreased 35 percent to $29.7 million compared to the same...
Brown & Brown Sees 51 Percent 1Q Income Increase
Apr 16 2003 // Florida’s Brown & Brown Inc. announced a new record for its earnings in the first quarter. Net income per share for the quarter ended March 31, 2003 was $0.44, an increase of 41.9 percent over the $0.31 in net...
Brown & Brown Sees 51% Earnings Increase in First Quarter
Apr 11 2003 // Datona Beach, Fla.-based broker Brown & Brown Inc. announced a new record for its earnings in the first quarter. Net income per share for the quarter ended March 31, 2003 was 44 cents, an increase of 41.9 percent over...
AXA Shows $3.1 Billion 2002 Loss Under U.S. GAAP Rules
Apr 10 2003 // France’s AXA Group revealed a nasty surprise when it filed its consolidated financial statements with the COB, the French financial regulatory authority. Under U.S. GAAP accounting rules the group posted an overall...
Chubb Survey Says Loss Control Spending Increases 17 Percent
Apr 8 2003 // In an apparent move to drive down the cost of risk, risk managers are spending an average 17 percent more on loss control services while their organizations confront budgetary constraints and the difficult economic...
ACIC Responds to CDI Notice on Insurers’ Use of Loss History Info. for Underwriting
Apr 7 2003 // The California Insurance Department’s draft advisory notice regarding insurance companies use of claims databases and loss history in underwriting and rating has far-reaching implications, oversteps its boundaries...
Will Insurers Use War to Profit’
Apr 7 2003 // It is often noted that the economy can be impacted by the smallest of things. Going to war with Iraq, however, was not exactly a small thing. Whether you support the cause or not, I for one do, the trickle down affect...
SWISS RE SIGMA STUDY PUTS 2002 CAT LOSSES AT $13.5B
Apr 7 2003 // A new Swiss Re sigma report, “Natural catastrophes and man-made disasters in 2002,” estimates the cost to the industry at $13.5 billion, $1.5 billion more than the company’s preliminary estimates released...
Hard Market Hits California Homeowners
Apr 7 2003 // Credit scoring, CLUE reports become targets of Commissioner Garamendi’s Ire The hard market has hit California homeowners hard. State Farm, which had nearly 23 percent market share in the state in 2001 according to...
Property/Casualty Insurance: An Industry in Recovery’
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery. In fact, strong premium growth and sharply lower catastrophe losses did lead to...
Are Cost, Availability of Calif. Homeowners Insurance at Crisis Proportions’
Apr 7 2003 // Today, the California personal lines industry is at the peak of a down cycle that has adversely affected the homeowners’ insurance marketplace. The downturn began in 2000, and worsened after the Sept. 11 attack on...
Will Insurers Use War to Profit’
Apr 7 2003 // It is often noted that the economy can be impacted by the smallest of things. Going to war with Iraq however was not exactly a small thing. Whether you support the cause or not, I for one do, the trickle down affect...
Property/Casualty Insurance: An Industry in Recovery’
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery. In fact, strong premium growth and sharply lower catastrophe losses did lead to...
Let it Hail, Let it Hail, Let it Hail!
Apr 7 2003 // The March 2000 thunderstorm blew in without much warning during the Fort Worth, Texas early evening rush hour. When softball-size hail smashed through the roof of a downtown restaurant, customer Mario Valverde headed for...
Industry Applauds Lloyd’s Return to Profitability
Apr 3 2003 // If it were a sports story, it would be something like the Anaheim Angels winning the World Series last year, so when an insurance company, in this case an insurance market, goes from losing almost $5 billion to making...
IIABA’S Willey Testifies Regarding National Flood Ins. Program
Apr 2 2003 // Expressing strong support for the National Flood Insurance Program (NFIP) and presenting five principles that should be the focus of reform efforts, J. Fletcher Willey testified on behalf of the Independent Insurance...
