Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Swiss Re Confirms $98 Million Loss for 2001
Apr 10 2002 // Swiss Re, the world’s second largest reinsurer, confirmed that it suffered a net loss of CHF 165 million ($98.64 million) in 2001, compared to 2000 net income of CHF 2.966 billion ($1.77 billion). The company...
Highlands Group Reports $277 Million Q4 Loss, Plans Reorganization
Apr 4 2002 // The Highlands Insurance Group reported a net loss of $276.9 million ($21.07 per share) for the fourth quarter of 2001, compared with a net loss of $115.1 million ($8.70 per share) in the fourth quarter of 2000. The results...
EQECAT Developing Compensation Loss Cost Models for WCIRB
Apr 4 2002 // EQECAT Inc. has been awarded a contract to develop the earthquake loss costs for the Workers’ Compensation Insurance Rating Bureau (WCIRB) of California. The loss costs are to be incorporated into their rate filing...
Danielson Holding Corp. Reports $14.33M Loss on Revenues of $94.1M
Apr 3 2002 // Danielson Holding Corporation reported a loss of $14.33 million ($0.74 per diluted share) on revenues of $94.1 million for the year ended Dec. 31, 2001, compared with income of $1.03 million ($0.05 per diluted share) on...
Allcity Posts $18 Million Loss for 2001
Apr 2 2002 // Brooklyn-based Allcity Insurance Company reported a net loss of $18,048,000 or $2.55 per share for the year ended December 31, 2001 compared to a net loss of $30,800,000 or $4.35 per share for the comparable 2000...
Aon Unveils Tornado/Hail Loss Solutions
Apr 2 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...
Travelers Announces $5B in IPO Earnings
Mar 28 2002 // Travelers’ Property Casualty Corp. announced the $5 billion earnings as a result of its record-breaking IPO and bond sales offered last week, the largest of any U.S. insurer, according to Reuters Securities. The...
U.K.’s Claims Direct Reports Loss
Mar 28 2002 // Claims Direct, the U.K. company which provides insurance settlement services, reported that it expects a loss of £22 million ($31.3 million) for its fiscal year ending March 31. The company, which had a great deal of...
Goshawk Reports $10.5 Million Loss for 2001
Mar 27 2002 // Goshawk, a leading Lloyd’s syndicate operator, reported a £7.4 million ($10.5 million loss for the year 2001. An earlier profit warning had indicated that the need to strengthen its reserves would have an...
P&C Insurers See 2001 Profits Dip Drastically
Mar 26 2002 // The nation’s property and casualty insurers lost $738 million during the first nine months of 2001, compared to a $19 billion profit during the same period in 2000, according to research conducted by Weiss Ratings,...
What Policyholders Don’t Know Can Hurt Them
Mar 25 2002 // The things businesses do not know about their potential liability for what employees do in cyberspace have the potential to become a serious problem. Recent surveys indicate that many businesses do not realize that simply...
Munich Re Announces Provisional 2001 Results, Profits Fall by $1.33 Billion
Mar 25 2002 // Munich Re announced provisional results for the year 2001, which confirmed that even the world’s largest reinsurer wasn’t immune to the huge losses caused by Sept. 11. Munich’s net profit is expected to...
Berkshire Earnings Hit by Sept. 11th
Mar 25 2002 // Berkshire Hathaway’s boss Warren Buffett didn’t become America’s most successful investor, and one of its richest men, by making mistakes, so when General Re suffered a $2.4 billion hit from the WTC...
Fremont General Reports Profit, Studying Sale
Mar 21 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...
PAULA Financial Notes Net Loss
Mar 19 2002 // California-based PAULA Financial announced March 18 a net loss of ($5.53) per share for the year ended Dec. 31, 2001 compared to a net decline of ($3.51) per share for the same period a year ago. Negative underwriting...
Converium Posts $367.4 Million Net Loss for 2001
Mar 18 2002 // Converium Holding Ltd, the Swiss-based reinsurer, formed by the spin-off of Zurich Financial’s reinsurance operations, reported a net after tax loss of $367.4 million for the year 2001, due in large part to the...
ISO Service Offers New Program for Loss Control, Safety Professionals
Mar 18 2002 // Insurance Services Office, Inc.’s (ISO) Engineering and Safety Service (E&STM) unit is offering a new, self-directed ‘distance learning’ program for loss control and safety professionals to study and...
