Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Cincinnati Financial Sees Revenue, Operating Income Increases
Apr 26 2002 // Cincinnati Financial Corporation, a holding company whose primary business is property and casualty insurance, reported increases in both net operating income and revenues for the three months ended March 31, 2002, over...
Penn-America Reports $2 Million Q1 Operating Income
Apr 25 2002 // Penn-America Group, Inc. reported operating income of $2 million or 25 cents per share (basic and diluted) for the first quarter of 2002, compared with operating income of $0.9 million or 12 cents per share for the first...
IPC Holdings Doubles Q1 Operating Income to $44.3 Million
Apr 25 2002 // Bermuda- based IPC Holdings, Ltd. reported that its operating income, which excludes net realized gains and losses, rose to $44.3 million or $0.92 per share, for the quarter ended March 31, 2002, compared to $20.0 million,...
Everest Re Q1 Operating Income Up 23.6%
Apr 24 2002 // Everest Re Group, Ltd. reported that its first quarter 2002 after-tax operating income, which excludes realized capital gains and losses, was $66 million, or $1.35 per diluted share, a 23.6 percent increase compared to...
Erie Posts Strong Q1 Income Gains
Apr 23 2002 // Erie Indemnity Company reported that its net income for the quarter ended March 31, 2002, increased to $44,201,582 from $34,785,305 for the same period in 2001, while operating income (net income excluding net realized...
Donegal Group’s Q1 Revenues Off 26%
Apr 23 2002 // The Donegal Group Inc., based in Marietta Pa., announced that its operating results for the quarter ended March 31, 2002 showed net income of $2,180,716, or $.24 per share on a diluted basis, a decline of around 26 percent...
RenRe Posts 100% Increases in Q1 Premiums, Income
Apr 23 2002 // RenaissanceRe Holdings Ltd. proved once again that it can make money better than anyone else. The Bermuda-based company announced that its first quarter net operating income available to common shareholders (excluding...
Aon Claims 1stQ Earnings Did Not Meet Internal Targets
Apr 23 2002 // Aon Corporation has reported that first quarter 2002 dilutive earnings per share are expected to be in the range of $0.56-$0.59 per share (including a one-time pretax income item of $48 million or $0.11 per share). This...
SAFECO Tallies 1stQ Profits on Investments
Apr 23 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...
Philadelphia Consolidated Posts 38% Q1 Net Income Gain to $10.7 Million
Apr 22 2002 // Philadelphia Consolidated Holding Corp. of Bala Cynwyd Pa. reported that its net income for the first quarter ended March 31, 2002 increased 38.4% to $10.7 million from $7.7 million for the same period in 2001. It also...
Allianz Finalizes 2001 Net Profit at $1.42 Billion, Defends Dresdner Acquisition
Apr 19 2002 // Germany’s Allianz Group had an off year in 2001, along with most of the rest of the insurance industry. The company announced its definitive results yesterday, showing a net profit of €1.6 billion ($1.42...
P/C Industry Suffered First-Ever Net Loss in 2001
Apr 19 2002 // The events of Sept. 11 and declines in interest rates and the stock market all contributed to make 2001 the worst year ever for the property/casualty industry, according to just released numbers from Insurance Services...
Hiscox Posts $46 Million Loss; Places $33 Million in Cat Bonds
Apr 16 2002 // The U.K.’s Hiscox Group, which operates as a retail insurer as well as running Lloyd’s Syndicate 33, reported a £32.5 ($46.5 million) loss for 2001, largely as a result of claims related to the attacks on...
FREMONT GENERAL SEES PROFIT, CONSIDERS SALE
Apr 15 2002 // California-based financial services company Fremont General Corp. has reported a fourth-quarter profit, moving from a loss from a year earlier, when it recorded large losses in its workers’ compensation insurance...
2001: The Insurance Industry’s ‘Annus Horribilis’
Apr 15 2002 // In future years property/casualty insurers will no doubt look back on the year 2001 and shudder. Right now they’re too busy coping with the reality of the industry’s “annus horribilis,” to borrow...
Commentary: Credit Histories Benefit Consumers
Apr 15 2002 // It is time to set the record straight and dispel some of the myths being advanced in Texas and across the country about why insurance companies use credit history. The truth is that credit history is a valid predictor of...
Aon Addresses Tornado/Hail Loss
Apr 15 2002 // Aon announced that its reinsurance services unit has assembled substantial capacity for clients that are exposed to potentially significant tornado/hail losses. The capacity is available on either an indemnity or index...
The Illusion of Protection: Terrorism, War and Workers’ Compensation
Apr 15 2002 // The impact of the terrorist attacks of September 11th on the property/casualty insurance industry can hardly be overstated—the largest catastrophe loss ever; an unprecedented convergence of coverages, creating a...
The Midland Co. Reports Record High Operating Earnings
Apr 12 2002 // The Midland Company, a specialty insurance products and services provider headquartered in Cincinnati, Ohio, reported that net operating income (net income excluding capital gains/losses and the effects of any changes in...
Lloyd’s Change to Annual Accounting Creates $4.45 Billion Loss Estimate for 2001
Apr 11 2002 // Lloyd’s decision to begin reporting the profits and losses of its syndicates on an annual basis, rather than over three years, produced some costly results, with last year’s losses estimated at £3.11...
