Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Harleysville Group Comments on Q4, Full-Year 2002 Earnings
Jan 30 2003 // Pennsylvania’s Harleysville Group Inc. announced that it expects full-year 2002 diluted operating earnings of between $1.90 and $1.94 per share, compared to $1.54 per share in 2001, and fourth-quarter 2002 diluted...
InsWeb Reports Fourth Quarter Financial Results
Jan 30 2003 // Sacramento-based InsWeb Corp. announced results for the fourth quarter and year ended Dec. 31, 2002. Revenues for the fourth quarter totaled $6.4 million, compared to $6.3 million in the fourth quarter of 2001. InsWeb took...
FM Global Unveils 2003 Property Loss Prevention Resource Catalog
Jan 29 2003 // Commercial and industrial property insurer FM Global recently released its free 2003 Property Loss Prevention Resource Catalog that contains a number of loss prevention products to aid risk managers, facility and plant...
The St. Paul Companies Point to 4thQ Numbers to Show Progress
Jan 28 2003 // Minnesota-based The St. Paul Companies announced fourth-quarter 2002 net income of $244.2 million, or $1.02 per share, compared to a fourth-quarter 2001 net loss of $736 million, or $3.57 per share. Fourth-quarter 2002...
SAFECO Reports Turnaround Year
Jan 28 2003 // Seattle-based SAFECO reported its best annual performance in four years, posting net income of $301.1 million – or $2.33 per diluted share – for the full year 2002. This compares favorably with 2001’s net...
Crawford Reports Lowered Revenues for 4Q 2002
Jan 28 2003 // Atlanta’s Crawford & Company announced that fourth quarter 2002 revenues before reimbursements totaled $173.7 million, down from $178.1 million in the comparable 2001 period. Operating earnings (earnings before...
New AIR Estimation Model Helps Insurers Price Terrorism Risk
Jan 27 2003 // In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the...
Risk Retention Groups Owning Up to Success
Jan 27 2003 // Due to the restricted coverages available in the market today, risk retention groups (RRGs) have experienced a significant amount of rapid growth over the past year. At a time when the industry is facing what is perhaps...
ACE Increases Asbestos Reserves; $354 Million Net After-tax Charge to Q4 Earnings
Jan 27 2003 // ACE Limited announced that it will incur a net after-tax charge to earnings of $354 million ($1.32 per share) in the fourth quarter of 2002, as a result of the need to strengthen reserves due to increased asbestos and...
New AIR Estimation Model Helps Insurers Price Terrorism Risk
Jan 27 2003 // In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the...
GAINS DOWN FOR P/C INSURERS
Jan 27 2003 // Property and casualty insurers suffered a staggering $6.6 billion decline in investment gains during the first six months of 2002, to $18.1 billion from $24.7 billion during the same period in 2001, according to Weiss...
Travelers P/C Notes 4thQ Net Loss of $793.4M as a Result of Prior Asbestos Reserve Charge of $1.3B
Jan 24 2003 // Travelers Property Casualty Corp. reported a net loss for the fourth quarter of $793.4 million or $0.79 per share, basic and diluted, compared to net income of $303.3 million or $0.39 per share in the prior year quarter....
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 23 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for 11 states and the District of Columbia that were published by the NCCI based on the...
Penn-America Posts 2002 Income Gains; Q4 Operating Income up 41.7%
Jan 23 2003 // Penn-America Group, Inc. reported that its fourth quarter operating income increased 41.7 percent to $2.9 million or $0.24 per share (basic and diluted), compared with operating income of $2.1 million or $0.18 per share...
ICA Ups Fire Loss Estimates
Jan 22 2003 // The Insurance Council of Australia (ICA) has now estimated that insured losses from the bushfires that have devastated the area surrounding Canberra, the capital city, (See IJ Website Jan 20) may reach A$150 (U.S. $88.9...
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 22 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for eleven states and the District of Columbia that were published by the NCCI based on...
Zenith Announces 4th Q Increase in Loss Reserves
Jan 21 2003 // Zenith National Insurance Corp. reported that its actuaries have completed a review of the loss and loss adjustment expense reserves of our insurance companies at Dec. 31, 2002 and have determined that it is necessary to...
AAIS To File Endorsements Excluding Non-Certified Terrorism Losses
Jan 17 2003 // The American Association of Insurance Services (AAIS) is initiating state-by-state filings of commercial lines terrorism endorsements excluding losses arising from “non-certified” acts of...
Brown & Brown: 10 Years of Record Earnings
Jan 17 2003 // Brown & Brown Inc. announced record earnings for 2002, making it the 10th consecutive record year for the Florida-based company. Net income rose to $83,122,000, or $1.22 per share, an increase of 54.2 percent over the...
Lloyd’s Chairman Notes U.S. Premium Income Rises to New High of $8.2B
Jan 16 2003 // In his inaugural speech as Chairman of Lloyd’s of London, Lord Levene confirmed that the U.S. continues to be Lloyd’s largest single market accounting for approximately 40 percent of its business. He announced...
