Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Fiduciary, Non-Profit Liability
Sep 16 2002 // Nuts & Bolts: Rockwood Programs has introduced the Rockwood Protector Fiduciary Liability Plan, and the Rockwood Guardian Not-For-Profit Liability Plan. The Fiduciary Liability plan protects the personal and corporate...
Eastern European Floods Cause Widespread Damage
Sep 16 2002 // The floods that devastated Eastern Europe throughout August may have been caused by global warming, or by one of the 100-200 year storms probability theory predicts, or maybe just bad luck. They were in any case, the most...
£150 Million Preliminary Estimate of Insured Losses in French Floods
Sep 12 2002 // The cost to France’s insurance industry from the severe flooding in three southeastern departments (See Insurance Journal Website Sept.10) will be around £150 million ($147 million) according to preliminary...
PartnerRe, Converium Estimate E. European Flood Losses
Sep 9 2002 // Bermuda’s PartnerRe upped its earlier loss estimate from claims due to the recent floods in Eastern Europe from around $100 million to between $110 and $120 million. Swiss-based Converium indicated its pretax losses...
Tampa’s Stadium Sacked with Losses
Sep 6 2002 // The Tampa Bay Buccaneers’ home arena, Raymond James Stadium, lost its insurance, and according to Associated Press reports, it will likely have to pay much more for new coverage due to heightened terrorism concerns...
Docucorp Has Record 4thQ and Year
Sep 6 2002 // Docucorp(R) International, a Dallas-based provider of enterprise information solutions to insurance and other industries, announced record revenues of $72.6 million and record net income of $6.0 million for fiscal year...
Zurich Posts Huge 1st Half Net Loss, Slightly Over $2 Billion
Sep 5 2002 // The equity storms that have battered the earnings of many of Europe’s biggest insurers in the first half of 2002 became a class 5 hurricane for the Anglo-Swiss Group Zurich Financial Services (ZFS) which posted a net...
AIR Releases Terrorism Loss Estimation Model
Sep 4 2002 // Boston-based AIR Worldwide, which is now a subsidiary group within the ISO, announced the release of the “AIR Terrorism Loss Estimation Model.” “The new catastrophe model, the first commercially available...
SCOR 1st Half Net Profit Down 58% to €21 Million – In Talks with Gerling
Sep 4 2002 // SCOR, France’s largest reinsurer, reported that its 1st half net income had dropped 58 percent to € 21 million* from € 50 million* in the same period last year, due to the now familiar problem of declining equity...
AXA Confirms 17% Increase in 1st Half Operating Earnings to €1.02 Billion
Sep 3 2002 // France’s AXA Group confirmed its earlier estimates (See IJ Website Aug. 21) by officially posting 17 percent growth in operating earnings to €1.022 ($1 billion) for the period ended June 30, compared to €876...
Sept. 11 Revisited: The Future of the Industry
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
WTC Claims Dispute, $7.1 Billion at Stake
Sep 2 2002 // Despite recent court ordered settlement procedures, the legal dispute pitting Swiss Re and 21 other insurance companies against Silverstein Properties, the master leaseholder on the twin towers of the World Trade Center,...
S&P’s Maintains Negative Outlook for European Reinsurers
Sep 2 2002 // Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over...
SOME COLO. WORKERS’ COMP LOSS COSTS TO DECLINE
Sep 2 2002 // Workers’ compensation costs for some Colorado employers may decrease on average about 10.2 percent later this year. Insurance Commissioner William J. Kirven III announced that the National Council on Compensation...
A Year Later, Industry Takes Stock of Itself
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
WTC Claims Dispute, $7.1 Billion at Stake
Sep 2 2002 // Despite recent court ordered settlement procedures, the legal dispute pitting Swiss Re and 21 other insurance companies against Silverstein Properties, the master leaseholder on the twin towers of the World Trade Center,...
AMER. NAT’L LOWERS INCOME REPORT
Sep 2 2002 // Texas-based American National Insurance Company revised its previously reported second quarter 2002 net income from $20,983,000 to $6,075,000. The company stated that the revision resulted from a reclassification between...
WCIRB’s Summary of 1Q Experience Reveals Cont’d Price Increases
Aug 30 2002 // The WCIRB’s recently released summary of statewide first quarter 2002 experience shows sharp increases in insurer rates as well as continued deterioration in loss development. Average insurer rates on policies...
Fortis 1st Half Net Profit Falls 18% to $1.49 Billion
Aug 29 2002 // Fortis, the Belgian-Dutch insurance and financial services group, posted an 18 percent decline in net profits to €1.52 billion ($1.49 billion), compared to €1.85 billion ($1.82 billion) in the 1st half of...
Near North Posts 20% Revenue Increase in 1st Half
Aug 29 2002 // Chicago-based broker Near North National Group announced a 20 percent increase in consolidated revenues and net income for the first half of the year, which it attributed mainly to increased business from clients, rather...
