Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Calif. Insurers’ Homeowner Profits Drowning in Water Damage Claims
Jun 6 2002 // Rising household water damage claims have cost California insurers billions of dollars and are constricting the homeowners insurance market, according to a study done by the Insurance Information Network of California. The...
Watch the Skies, Weather Still Causing Trouble for Homeowners Markets
May 27 2002 // For the past year, while the Texas homeowners insurance market reeled from the effects of mold claims on premium (and still does), homeowners markets in other states have begun bracing themselves for similar nightmare...
Non-Profit Social Service
May 27 2002 // Nuts & Bolts: Arrowhead Wholesale Brokerage has available a program for non- profit social service. Endorsements-professional liability, sexual abuse. Brokerage business. Dollars: Policy limits are property as needed;...
Storms Expected to Impact State Auto Financial Earnings
May 24 2002 // Ohio-based State Auto Financial Corporation estimates that storms would contribute between $20 to $22 million to losses in the second quarter, adding 9 to 10 direct loss ratio points to second quarter results. The company...
ING Q1 Net Up Slightly on Strong Insurance Sales
May 24 2002 // The Netherlands ING Group reported a 0.4 percent increase in net profit for the first quarter of 2002 compared to the same period in 2001, to €1.136 billion ($1.05 billion), the figure also represents a 19.8 percent...
S&P Maintains Negative Outlook on Japan’s P/C Insurers
May 23 2002 // Standard & Poor’s announced that its outlook on Japan’s non-life insurance industry remains negative following the release this week of insurers’ financial results for fiscal 2001. “Earnings...
Standard and Poor Takes State Farm off Watch, Lowers Ratings
May 20 2002 // Standard & Poor’s has removed from CreditWatch and lowered the counterparty credit and financial strength ratings on State Farm’s core operating units to double-‘A’-plus from...
ISO’s New Auto Loss-History Database Offers Insurers Comprehensive Information for Assessing Auto Po
May 17 2002 // Insurance Services Office, Inc. (ISO) has launched its new Automobile-Property Loss Underwriting Service (A-PLUSTM) database to provide insurers, brokers and agents comprehensive automobile loss information, so they can...
ISO Purchases AIR to Help P/C Industry Manage Extreme-Event Losses
May 15 2002 // New Jersey-based Insurance Services Office, Inc. (ISO) has acquired Boston-based Applied Insurance Research (AIR), a leading provider of risk-assessment and management technology for all major natural hazards in the U.S....
AXA’s Q1 Total Revenues Rise 1.9% to $19.2 Billion
May 14 2002 // France’s AXA Group reported that consolidated revenues for the first quarter rose 1.9% to € 21.1 billion ($19.2 Billion) compared with the prior year period, largely driven by a hefty 24.3 percent rise in...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
ESG Re Posts $5.5 Million Q1 Loss
May 13 2002 // Bermuda-based ESG Re Limited reported an overall first quarter loss of $5.529 million compared to a net loss of $3.9 million for the first quarter of 2001. The net loss per share for the three months ended March 31 was...
Insurance Industry Posts Strong Q1 Gains HOW REAL ARE THEY’
May 13 2002 // After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
SAFECO TALLIES 1STQ PROFITS ON INVESTMENTS
May 13 2002 // Seattle-based SAFECO has reported a quarterly profit, noting gains from selling investments, increased life insurance earnings, and having to pay out less in storm claims through the winter. SAFECO noted first-quarter net...
Insurance Industry Posts Strong Q1 Gains
May 13 2002 // After suffering its first ever net loss in 2001, an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of...
Report 5 States Sue Vatican Over Frankel Losses
May 10 2002 // Today’s edition of the Wall Street Journal reports that five southern states have filed lawsuits against the Vatican as a result of the alleged involvement of several officials of the Catholic Church in the...
CNA Financial Reports 1stQ Net Income from Continuing Operations of $111M
May 10 2002 // CNA Financial Corporation reported first quarter 2002 net operating income from continuing operations of $111 million, or $0.50 per share, compared with $119 million, or $0.65 per share, reported in the first quarter 2001....
Meadowbrook Reports Improved Underwriting Results in 1stQ
May 9 2002 // Citing improved results in its specialty underwriting operations and continued profitability in its agency and fee-based business, alternative risk management specialist Meadowbrook Insurance Group Inc. of Southfield,...
PXRE Reports 379% Q1 Net Income Gain to $18.2 Million
May 8 2002 // The first quarter of 2002 is turning out to be a financial boom for many of Bermuda’s reinsurers, as PXRE joined the parade of record results, announcing that its net income in the period rose to $18.2 million, a 379...
