Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allied World Assurance Reports $26.2M in Net Income for 2ndQ
Jul 23 2002 // Bermuda-based Allied World Assurance Holdings, Ltd, has reported net income of $26.2 million for the second quarter and $44.0 million for the six months ended June 30, 2002. Gross premiums written were $278.5 million in...
Profits Fell, Losses Climbed for P/C Industry
Jul 22 2002 // It’s pretty much common knowledge by now that the property and casualty insurance industry suffered tremendous losses in 2001, and although the tragedies of September 11 can be blamed for much of the economic...
WEISS RATINGS REPORTS P&C LOSSES
Jul 22 2002 // The nation’s property and casualty insurers reported a $9 billion loss in 2001, compared to a $27 billion profit in 2000, according to research by Weiss Ratings Inc. By year-end, claims surged to a record $381...
Vesta Group Reports $6M Loss from Storms
Jul 22 2002 // Alabama-based Vesta Insurance Group announced a $6.2 million loss from catastrophes for the second quarter of 2002. Vesta’s net operating loss is expected to be between $0.02 and $0.05 per diluted share. Vesta...
XL Adding $200M to WTC Reserves; Records Added 2ndQ Loss
Jul 19 2002 // Bermuda-based XL Capital Ltd. will add $200 million to its reserves for Sept. 11 terrorism losses and will record an added $120 million second-quarter loss from investments in telecommunications and other companies. The...
Insurers looking at $120M Price Tag for Insured-Property Losses from Ariz. Wildfire
Jul 19 2002 // Insurers are expected to pay an estimated $120 million to home owners and businesses for insured-property losses from the Rodeo-Chediski Complex wildfire in Arizona, according to preliminary projections by the Insurance...
Partner Re Responds to Requests, Affirms $400M WTC Loss Estimate
Jul 19 2002 // Bermuda-based reinsurer PartnerRe Ltd.has affirmed its loss estimate of $400 million from the destruction of the World Trade Center on Sept. 11. The company reported it was making the announcement in response to requests...
Travelers Reports Improved 2ndQ Income from Last Year
Jul 18 2002 // Travelers Property Casualty Corp. reported that operating income increased 14 percent over the prior year quarter to $356.8 million or $0.36 per share compared to $314.3 million or $0.31 per share for the prior year...
ISO Reports Record 2001 Underwriting Losses, Poor Investment Results behind PnC Industry’s First-Ev
Jul 10 2002 // The property/casualty insurance industry recorded its first-ever net loss after taxes in 2001, stemming from sharply higher underwriting losses and substantial deterioration in investment results, according to Insurance...
Weiss Ratings Reports PnC Insurers Suffer $9B Loss in 2001
Jul 9 2002 // The nation’s property and casualty insurers reported a $9 billion loss in 2001, compared to a $27 billion profit in 2000, according to research by Weiss Ratings Inc. By year-end, claims surged to a record $381...
SEPT. 11 INSURED-PROPERTY LOSS ESTIMATE TOPS $20B:
Jul 8 2002 // Insured-property losses from the Sept. 11 terrorism attack are now estimated at $20.3 billion, up from the $16.6 billion that Insurance Services Office Inc.’s (ISO) Property Claim Services (PCS) unit had reported...
Cincinnati Financial Reports $45M Cat Losses for 2ndQ
Jul 4 2002 // Cincinnati Financial Corporation announced it expects to record approximately $45 million of pre-tax catastrophe losses and $35 million in losses greater than $1 million in its property casualty insurance subsidiaries will...
European Insurers Face WorldCom Losses
Jun 27 2002 // Most of Europe’s larger insurance companies have some exposure to losses resulting from the meltdown of WorldCom, the telecommunications giant which announced Tuesday night that it had improperly accounted for around...
P/C Industry’s 1stQ Net Income Falls 7.3 Percent
Jun 27 2002 // The U.S. property/casualty industry’s net income after taxes dropped 7.3 percent to $5.1 billion in first-quarter 2002 from $5.5 billion in first-quarter 2001, according to just released information from Insurance...
CAS Spring Meeting Predicts Hard Markets to Continue
Jun 21 2002 // Many of the events that made 2001 the worst year ever for property/casualty insurance will continue to keep the industry in a hard market throughout of this year, said panelists at the Spring Meeting of the Casualty...
U.K. Asbestos Losses Estimated at $1.75 Billion
Jun 20 2002 // A study by the London office of Credit Suisse First Boston reports that claims from asbestos related illnesses are expected to cost U.K. insurers around $1.75 billion over the next 40 years. The estimate takes into account...
Insured-Property Loss Estimate from Sept. 11
Jun 19 2002 // Insured-property losses from the Sept. 11 terrorism attack on the World Trade Center and the Pentagon are now estimated at $20.3 billion, up from the $16.6 billion that Insurance Services Office, Inc.’s (ISO)...
eAutoclaims Revenues Grow
Jun 18 2002 // Florida-based eAutoclaims, Inc., which provides online claims management solutions for the auto insurance industry through both an applications services provider (ASP) and outsourcing services, announced financial results...
Insurers & Contractors Trying to Nail DownProper Coverage
Jun 10 2002 // If you’re placing coverage for contractors, there are three factors that determine what obstacles you will encounter: location, location, location. The real question is whether it will stay that way or whether...
Insurers & Contractors Trying to Nail Down Proper Coverage
Jun 10 2002 // If you’re placing coverage for a client who is a contractor, there are three factors that determine what obstacles you will encounter: location, location, location. The real question, however, is whether it will stay...
